Money
Wall Street fluctuates amid strong economy and concerns
Wall Street dips amid mixed macro data, strong dollar, and Tesla’s drop; investors await key employment and earnings reports.
Wall Street dips amid mixed macro data, strong dollar, and Tesla’s drop; investors await key employment and earnings reports.
Wall Street experienced volatile trading on Thursday, reversing earlier gains as investors confronted a mix of strong labour market data, a rising dollar, and falling Tesla shares.
All three major U.S. stock indexes ended lower after an initial rally.
Tesla shares fell 6.5% following the announcement of the company’s first annual decline in deliveries, with discounts failing to boost demand for its older electric vehicles.
Additionally, the Labor Department reported a decrease in initial and continuing unemployment benefit claims, reinforcing evidence of a robust job market. This may influence the U.S. central bank’s decision on maintaining interest rates in its upcoming policy meeting.
Despite uncertainties surrounding interest rate changes by the Federal Reserve, incoming Trump administration policies, and geopolitical tensions, market participants remained focused on the strength of the U.S. economy.
Wall Street’s major indexes achieved double-digit growth in 2024, with the S&P 500 marking its best two-year performance since 1997-1998. This upswing was propelled by the Federal Reserve’s first interest rate cuts in over three years, the ongoing AI boom, and the anticipation of business-friendly policies from the new administration.
Money
U.S. and China approve TikTok sale to American investors
US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.
US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.
The United States and China have officially approved a deal for TikTok’s US operations to be sold to American investors, led by Oracle and Silver Lake.
This marks a major shift in the social media landscape as the platform navigates increasing regulatory scrutiny.
Under the new agreement, ByteDance will retain just under 20% of TikTok US, while Oracle and Silver Lake will each take 15% stakes. Other investors will also participate, forming a structure designed to satisfy both commercial and regulatory demands.
The new US-based entity will have a majority American board tasked with overseeing data protection and content moderation. Despite these safeguards, concerns remain about ByteDance’s influence and whether the deal fully complies with recent legislation.
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Money
Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.
The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.
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Money
Gold hits record highs as investors flee risk
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.
The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.
Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.
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