submitted by /u/XGramatik [link] [comments]
Day: November 25, 2024
Gold falls on Trump’s choice of new Treasury Secretary
Bloomberg: Gold falls on Bessent appointment Gold is trading lower on Monday after President-elect Donald Trump announced Wall Street tycoon and founder of Key Square Group – a global macro investment firm – Scott Bessant as the US’s new Treasury Secretary. Although Bessent supports the thrust of Trump’s protectionist and tax-cutting policy agenda, markets expect him to probably soften the blow from Trump’s tariffs and counterbalance inflation by reducing government spending. Based on his prior comments, the two things Bessent is passionate about are cutting the US’s debt pile and thwarting competition from China. “This election cycle is the last chance for the United States to get out from under a mountain of debt without becoming some kind of European-style socialist democracy,” Vijesti News quoted Bessent as telling Bloomberg in August. Bessent has advocated a “three-threes” policy in which he will try to reduce the US Budget Deficit to 3% of annual Gross Domestic Product (GDP) from a current estimated 6% in 2024, achieve a 3% annual GDP growth rate, and raise US Crude Oil production by 3 million barrels-a-day, according to Bloomberg News. submitted by /u/Denchock [link] [comments]
Pepperstone: Trader’s Week-Ahead Playbook 👉
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The world has gone bananas. An artwork that consists of a banana duct-taped to a wall has sold for $6.2mln at Sotheby’s. MicroStrategy has issued $3bn of 5y convertible notes paying 0%.
submitted by /u/FXgram_ [link] [comments]
The greediest and dumbest traders are those trading crypto with leverage. BTC made a $4K swing in both directions, resulting in $494M liquidated. Short positions lost $133M, while longs took a $360M hit. Liquidations by platform: Binance ($216M), OKX ($119M), Bybit ($116M).
submitted by /u/XGramatik [link] [comments]
Russia remains India’s top oil supplier in 2024. From January to September, it exported nearly 1.7M barrels per day, far surpassing Iraq (1.0M b/d) and Saudi Arabia (0.8M b/d). So, why pretend otherwise?
submitted by /u/XGramatik [link] [comments]
Despite some quibbling and handwringing over Nvidia’s latest earnings report, the tech powerhouse continues its inevitable march to a $4 trillion valuation. Expectations were sky-high but make no mistake: this was a remarkable quarter, burnished by fantastic execution and a sound plan.
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“A CBI survey suggests that half of employers are looking to cut jobs since the £25 billion increase in their national insurance contributions was announced…nearly two thirds are now reconsidering recruitment plans” – The Times
submitted by /u/XGramatik [link] [comments]
U.S. Stocks see largest annual inflow in history of $448 Billion (and the year isn’t over)
submitted by /u/XGramatik [link] [comments]
Grind never stops
submitted by /u/Aftermebuddy [link] [comments]
Experience required: Time travel skills
submitted by /u/Aftermebuddy [link] [comments]