Money

Bitcoin retreats from $100,000 as Dow hits record high

Dow rises 400 points, Russell 2000 hits record after Trump’s Treasury pick Scott Bessent; investors optimistic about economic guidance.

Published

1 year ago

November 26, 2024

ticker NEWS

A broad stock rally led to new record highs for the Dow Jones Industrial Average, S&P 500, and Russell 2000 index on Monday.

Investors reacted positively to President-elect Donald Trump’s nomination of Scott Bessent for Treasury secretary, believing he would foster economic growth without inflation.

The Dow rose 420 points, or 1%. The S&P 500 climbed 0.3%, while the Nasdaq Composite increased by 0.3%. The Russell 2000 surged 2%, exceeding its previous high from 2021. Approximately 80% of S&P 500 stocks saw gains.

Market participants view Bessent, founder of Key Square Group, as supportive of equity markets and potentially moderating Trump’s protectionist policies.

Treasury yield

Following the nomination, Treasury yields and the U.S. dollar index fell, with the 10-year Treasury yield dropping over 14 basis points. This market response indicates a favorable shift, according to Quincy Krosby from LPL Financial.

Krosby stated that the market’s reaction demonstrates strong approval of the nomination.

In contrast, big technology stocks exhibited mixed results. While Amazon and Alphabet saw gains, Nvidia and Netflix experienced declines.

Money

US dollar strength hits NZ dollar amid FX market shifts

US dollar rises amid strong US growth; New Zealand faces pressure as traders navigate volatile FX and geopolitical impacts.

Published

2 days ago

February 20, 2026

Harvey Vargas

US dollar rises amid strong US growth; New Zealand faces pressure as traders navigate volatile FX and geopolitical impacts.

The US dollar is surging as strong economic growth in the United States contrasts with softer conditions in New Zealand. Policy divergence and complex global FX factors are putting pressure on the New Zealand dollar, leaving traders navigating choppy waters.

Steve Gopalan from SkandaFX breaks down how US interest rates are influencing key currency pairs like USD/JPY, and explains why hedging flows are crucial in today’s volatile environment.

We also explore the ripple effects of geopolitical tensions on oil and broader markets, while examining the Australian labour market’s role in shaping the Reserve Bank of Australia’s monetary policy.

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Money

Oil hits seven-month high, and gold surpasses $5,000 amid US-Iran tensions

Oil prices hit seven-month high amid U.S.-Iran tensions; experts analyze impacts on global economy and energy markets.

Published

2 days ago

February 20, 2026

Harvey Vargas

Oil prices hit seven-month high amid U.S.-Iran tensions; experts analyze impacts on global economy and energy markets.

Oil prices have surged to a seven-month high as escalating tensions between the U.S. and Iran spark fears of global supply disruptions. The Strait of Hormuz remains a flashpoint, with analysts closely monitoring potential military actions that could further strain energy markets.

Investors are reacting to geopolitical uncertainty, with oil markets pricing in heightened risk.

Kyle Rodda from Capital.com joins us to discuss what is driving these record-breaking price movements and the potential implications for the global economy.

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Money

Australia jobs, market trends, and tariff ruling: What investors need to know

Australia’s jobs report shapes rate forecasts, with cyclical assets favored amid market volatility and upcoming Supreme Court rulings on tariffs.

Published

3 days ago

February 19, 2026

Harvey Vargas

Australia’s jobs report shapes rate forecasts, with cyclical assets favored amid market volatility and upcoming Supreme Court rulings on tariffs.

Australia’s latest jobs report is shaping market expectations and interest rate forecasts. Strong employment growth could boost confidence in the economy, while weaker data might prompt a rethink of monetary policy.

Investors are favouring cyclical assets over growth stocks, targeting sectors like industrials, materials, and energy. David Scutt from StoneX notes this reflects both caution amid market volatility and a bet on areas tied to economic cycles.

Meanwhile, the upcoming Supreme Court ruling on Trump’s reciprocal tariffs could significantly impact markets, yet many are overlooking its potential effects on trade, commodity prices, and sector valuations. Investors should prepare for possible volatility and adjust strategies accordingly.

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