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US stocks surge as inflation slumps

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US financial markets witnessed a notable upswing as the latest inflation figures revealed a sharp decline to 3.2%.

 
Investors and analysts alike were taken aback by this unexpected drop in inflation, which has been a matter of concern in recent months.

The news brought a wave of optimism to Wall Street, leading to substantial gains in both stocks and bonds.

Stock markets rallied as investors welcomed the prospect of reduced inflationary pressures, with major indices posting impressive gains.

Tech giants and traditional industrial sectors alike saw their shares rise, bolstered by the newfound confidence in the economy’s stability.

Meanwhile, bond yields dropped, with government bonds becoming more attractive to investors seeking safer assets.

This sudden shift in market sentiment has raised questions about the Federal Reserve’s monetary policy and the potential for interest rate adjustments in the near future.

Economists and financial experts are closely monitoring the situation to gauge its long-term impact on the economy and investment strategies. #featured

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Bitcoin surges to record highs post-election

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Bitcoin soared to nearly $80,000, reaching unprecedented levels following Donald Trump’s decisive presidential victory earlier this week.

This marks a significant 65.4% increase from its January low of $38,505, underscoring the cryptocurrency’s remarkable growth this year.

The surge is largely attributed to President-elect Trump’s commitment to establishing the United States as “the crypto capital of the planet,” signaling a potential shift toward more favorable regulations for digital currencies.

Investors are optimistic that the incoming administration’s pro-crypto stance will further bolster the market, potentially leading to sustained growth in the sector.

Analysts suggest that this momentum could pave the way for Bitcoin to reach even higher valuations in the near future.

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Iron ore and oil prices drop as Beijing holds back

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China’s National People’s Congress announced a $1.3 trillion plan, but it’s focused on debt, not demand.

Mining giants BHP and Rio Tinto saw share prices fall as hopes for a strong stimulus faded.

Analysts say this “recycling debt plan” won’t deliver a boost for Australia’s resource exports.

Iron ore futures dropped 3%, and oil prices fell 2% after China’s announcement.

Some Australian economists see this as a missed opportunity for mining and the broader economy.

Beijing may wait for clarity on Trump’s trade policies before introducing more aggressive stimulus.

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Powell defends the Fed’s independence from Trump

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As Trump’s presidency approaches, Fed Chair Jerome Powell signals he won’t back down on protecting the central bank’s autonomy.

With the election results still rolling in, Federal Reserve Chair Jerome Powell has already made it clear that he intends to uphold the Fed’s independence, even if it means clashing with the new administration.

In a statement on Thursday, Powell declared he would not resign if President-elect Trump asked him to, asserting it would be illegal for any president to fire or demote a sitting Fed governor.

This stance comes amid signals from Trump’s team indicating they may seek influence over the Fed’s monetary policies, including interest rate decisions, challenging the longstanding norms that keep the Fed separate from politics.

Not stepping down

Powell’s terse response to questions on the issue emphasized his commitment: when asked if he would step down at Trump’s request, Powell replied simply, “No.” And when asked if the president could legally demote Fed governors, he affirmed, “not permitted under the law.”

Historically, Trump has shown impatience with Powell’s decisions, especially on interest rates.

If Trump tries to replace Powell or other Fed leaders prematurely, he could face legal challenges and market backlash.

Economists argue that an independent Fed actually benefits Trump’s agenda by stabilising rates.

 

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