TikTok CEO sought Musk’s input ahead of Trump administration, WSJ reports

https://preview.redd.it/e4bjr80w0q2e1.png?width=800&format=png&auto=webp&s=c66d62d0659d21dab7348f836fad0cb6ba17dd25 ByteDance-owned TikTok Chief Executive Officer Shou Zi Chew has sought input on U.S. matters from Elon Musk, a close adviser to President-elect Donald Trump, the Wall Street Journal reported on Saturday citing people familiar with the matter. Chew initiated messages with the Tesla CEO in recent weeks and asked for his opinions on topics ranging from the incoming administration to potential tech policy, the report added. Elon Musk, TikTok, ByteDance and the Trump administration did not immediately respond to Reuters’ requests for comments. Both executives have not discussed specific measures to keep TikTok running in the United States, the Journal reported, adding that Chew has kept ByteDance’s senior leadership informed of the talks, with executives cautiously optimistic about finding a way forward. ByteDance executives had been hedging their bets before the U.S. election, meeting with people close to Trump and with people close to Democratic nominee Kamala Harris, the report added. Trump, who unsuccessfully tried to ban TikTok in 2020, has said if elected in November he would not allow TikTok to be barred. submitted by /u/Pllover12 [link] [comments]

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GBP/USD Price Forecast: Stumbles and hovers around 1.2520, ahead of next week data

Bloomberg: GBP/USD Price Forecast: Technical outlook The GBP/USD is trending down, extending its bearish bias. Sellers are eyeing intermediate support at 1.2445, the May 9 swing low. If breached, the pair could refresh year-to-date (YTD) lows of 1.2299, which were hit on April 22. Indicators like the Relative Strength Index (RSI) turned oversold beneath the 30 level. Nevertheless, it has not reached extreme levels, usually seen in solid trends. In the case of a downtrend, the 20 level would suggest the GBP/USD is oversold. Conversely, if bulls move in and reclaim 1.2600, look for a test of November’s 20 peaks at 1.2714 as the next resistance. If surpassed, the next stop would be the 200-day Simple Moving Average (SMA) at 1.2818. submitted by /u/Denchock [link] [comments]

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TKL: Is the US market overvalued?

US stock valuations are at 2001 levels: The US stock market’s P/E ratio relative to global stocks reached 1.8x, the highest since the 2000 Dot-Com bubble. In other words, investors now have to pay nearly twice as much for US stocks than for their global counterparts for the same earnings. Over the last 15 years, the relative valuation of US stocks has DOUBLED. Since 2009, the S&P 500 and Nasdaq have returned 447% and 786%, massively beating the MSCI World ex-USA index gain of 52%. submitted by /u/XGramatik [link] [comments]

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Cardano Price Forecast: ADA could rally by another 30% as on-chain data signals bullish sentiment

Bloomberg: ADA could extend rally to $1.26 after 22% in the past 24 hours ADA’s 24% surge sparked over $12 million in liquidations, with liquidated long and short positions accounting for $3.79 million and $8.60 million, respectively. ADA could rally nearly 30% above the $1 mark toward $1.263 after smashing the $0.908 resistance level of April 2022. ADA/USDT weekly chart However, the Relative Strength Index (RSI) is in the oversold region at 80, indicating that ADA could see a potential price correction soon. The Awesome Oscillator has crossed above the neutral level for the first time since April, indicating rising bullish momentum. A daily candlestick close below $0.683 will invalidate the bullish thesis. submitted by /u/Denchock [link] [comments]

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Dogecoin Price Forecast: Bulls deploy $355M in DOGE longs amid Gensler exit confirmation

Dogecoin price forecast: $0.45 breakout could trigger larger gains If Dogecoin sustains this bullish leverage imbalance while maintaining key support levels, it could propel prices toward higher resistance targets around $0.45. Confirming this bullish forecast, the widening Bollinger Band indicators signal rising volumes and volatility, emphasizing the likelihood of a $0.45 retest. More so, DOGE price is currently trading above its Volume Weighted Average Price (VWAP) at $0.40. If DOGE closes above this key support level amid positive speculative pressure, a breakout toward $0.45 could be on the cards. Dogecoin price forecast | DOGEUSDT Dogecoin price forecast | DOGEUSDT However, traders should remain cautious, as excessive leverage can lead to sharp corrections if the market reverses. In such a scenario, if the bulls fail to hold the $0.40 support, rapid long liquidations could trigger a breakdown toward the 20-day Simple Moving Average (SMA) at $0.31. submitted by /u/Denchock [link] [comments]

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Very funny! They found a way out: The largest bank in Russia has advised clients to seek loans in Belarus due to Russia’s monstrously high interest rate. The key interest rate difference between the two countries is striking: Russia at 21%, compared to Belarus at 9.5%

The key (or refinancing) rate refers to the interest rate at which commercial banks borrow money from the central bank. Loan rates for individuals and businesses are typically higher than the key rate, allowing commercial banks to profit from the margin. Currently, Sberbank offers loans to Russian corporate clients starting at 22.5% annually, while the National Bank of Belarus reports an average corporate loan rate in Belarusian rubles of 10.27%. submitted by /u/XGramatik [link] [comments]

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What could Trump 2.0 mean for global trade?

https://preview.redd.it/uwaj1d9wqm2e1.png?width=800&format=png&auto=webp&s=7de9f2615a746aed8afedd08066071dba29cb152 A second Trump administration could bring significant shifts to global trade policy, signaling a return to the assertive and transactional approach seen during Donald Trump’s first term. According to UBS strategists, this could manifest through aggressive tariff measures targeting countries with substantial trade deficits with the US, particularly China. The policy focus is likely to extend to sectors considered critical to national security and economic interests. UBS identifies three potential tariff scenarios under a second Trump presidency. The first involves universal tariffs, which carry a 25% probability. This scenario envisions blanket tariffs on all US imports, such as a proposed 60% on Chinese goods and 10-20% on other countries. While such measures could generate revenue to offset tax cuts via Congressional reconciliation, UBS notes the political and logistical challenges. A universal tariff approach would harm both the US and global economies more severely and could spark widespread retaliation, leading to an escalating trade war. “In our view, President Trump would prefer to go the congressional route to achieve universal tariffs, although he has not yet publicly endorsed the idea. However, we believe that Congress will be unwilling to go along with it,” UBS strategists said. “If Congress is unwilling to impose universal tariffs, the Trump administration can try to implement them using executive authority. However, there is no precedent for this, and it remains to be seen whether such a move would hold up against legal challenges,” they added. Selective tariffs, with a 65% probability, are considered the most likely scenario. These would target specific goods or sectors using executive authority under existing trade laws. UBS expects this approach would likely revisit the 2020 Phase 1 trade deal with China while addressing contentious issues with the EU and Mexico. The bank highlights three factors that could soften the blow of selective tariffs on Asia, including China’s fiscal and monetary policies, stronger intra-regional trade, and rising US market share in the region. The third scenario, a brokered deal to avoid tariffs altogether, is seen as unlikely, with just a 10% probability. UBS points out that tariffs under Trump 2.0 would also have inflationary implications. Universal tariffs are expected to cause short-term price spikes, with UBS estimating a 10% tariff on all imports raising US price levels by up to 1.7% if corporate profit-led inflation amplifies the effects. Selective tariffs, on the other hand, could have a more limited impact on inflation and economic activity. These targeted measures would primarily focus on specific goods or sectors, allowing for trade rerouting to minimize disruptions. “While bilateral trade between the US and partner countries may decline because of the tariffs, actual rebalancing of international trade or reshoring of economic activity back to the US would likely be negligible,” UBS’s report states. submitted by /u/Pllover12 [link] [comments]

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Bitcoin

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Total US debt has officially hit $36 trillion for the first time in history, according to US government data.

Since the start of this year, total US debt is now up by a whopping $2 TRILLION. In other words, the US has added an average of $6.3 billion of debt PER DAY for the last 316 days in a row. This means that the US government now holds $108,000 in debt for EVERY American. Deficit spending as a % of GDP is currently up to World War 2 levels while the Fed calls for a “soft landing.” We are in desperate need of a change right now, we are on an unsustainable fiscal path. What’s the long-term plan here? submitted by /u/XGramatik [link] [comments]

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