Benzinga

#FOMC | The Federal Reserve lowered interest rates by 0.25 percentage points on Thursday, as widely anticipated by the market, bringing the federal funds rate to a target range of 4.5% to 4.75%, the lowest since February 2023. With this decision, the Fed slowed the pace of rate cuts compared to September, when policymakers opted for a more substantial 0.5% cut to initiate the easing cycle. The Fed’s November policy statement continued to highlight that the economy has expanded at a “solid pace,” job growth “has generally eased” and inflation “has made further progress” toward the 2% target, although it remains “somewhat elevated.” The next Federal Open Market Committee (FOMC) meeting is scheduled for December 18, 2024. Read more at ➡ https://lnkd.in/dSe-6r8m

🗣 Bill Gates Says Being A Billionaire Is Overrated Bill Gates, one of the world's wealthiest people, recently shared a refreshingly candid perspective on money with students at the University of Washington. While acknowledging the "meaningful freedom" that comes with having millions, Gates explained that beyond a certain point, wealth doesn’t dramatically change your daily life. In his words: "Once you get much beyond that, it's the same hamburger." 🍔 Gates, who co-founded Microsoft and has a net worth of around $103 billion, emphasized that while money can provide access to luxury, it doesn’t equate to greater happiness or fulfillment. His focus has always been on using his wealth for impact rather than accumulation, through initiatives like the Bill & Melinda Gates Foundation, which has donated billions toward health, education, and poverty reduction worldwide. His message encourages a shift in perspective: true success isn't about how much you have, but how you use what you have to make a meaningful difference. Gates urges us to focus on finding purpose and doing what we enjoy, rather than chasing ever-increasing wealth. 🤝

It's FOMC Day 👀 The only person that shakes the markets - Jerome Powell

🚀 Market surge following election results: A shift in investor sentiment In the wake of the recent U.S. presidential election, market sentiment is shifting dramatically. Jim Cramer, CNBC's market expert, linked the surge in stock prices to President-elect Donald Trump's pro-business stance and the relief traders are feeling with the conclusion of a contentious election. 💡 What’s driving the rally? Cramer highlighted a key point: "The fact that we already know the winner is a huge win for the stock market in itself," noting that the end of election uncertainty is attracting new money into the markets. Several sectors have seen significant gains: - Tesla ($TSLA): A 14.75% rally, with Cramer noting that Elon Musk’s relationship with Trump could benefit the company. - Tech Giants ($GOOGL, $AMZN): Stocks like Alphabet and Amazon surged, as the pressure of antitrust issues seems to ease under Trump’s policies. - Cybersecurity Stocks: The expectation of increased cyber threats under the new administration is boosting stocks in this sector. 💬 Cramer’s Outlook: Despite record highs during Biden’s presidency, Cramer speculated that the market might go even higher with Trump at the helm. "Who knows how high they can go with a president-elect who always told me that the Dow Jones Industrial Average was his version of the Nielsen ratings." What are your thoughts on the post-election market rally? Will Trump's presidency spark even more growth, or will we see challenges ahead?

🤚🏼 Jensen Huang sparked a debate: Will AI replace the need for human coders? While AI is undoubtedly advancing rapidly, Jared Friedman from Y Combinator argues that learning to code remains essential. He emphasizes that understanding code fosters logical thinking, a skill invaluable in today's tech-driven world. What do you think? Will AI make coding obsolete, or will it simply evolve the way we program? 🤔

#MarketUpdates Wall Street experienced an "everything rally" Wednesday following the 2024 election results, with Donald Trump emerging as the clear presidential winner. The Republican Party reclaimed control of the Senate, and the House leans Republican but remains undecided. #Election2024 Major U.S. equity indices soared to record highs in early trading, as optimism grew over the potential for more favorable tax policies. The S&P 500, Dow, and Nasdaq all posted solid gains. 📈 - S&P 500: +2.3% - Dow Jones: +3.3% - Nasdaq 100: +2.4% $SPY $QQQ $DJI $IWM The biggest standouts? Small caps & bank stocks. Investors flocked to domestic businesses and U.S. banks, anticipating tariff protections and financial deregulation under the new administration. The Russell 2000 (small caps) surged 5.5%, its largest single-day gain in two years. Meanwhile, large-cap bank stocks jumped 6%, and regional banks via the $KRE ETF saw a massive 13% spike—biggest gains since Nov 2020. On the flip side, clean energy stocks took a hit. The Invesco Solar ETF ($TAN) dropped 11%, its steepest decline since March 2020, as investors braced for potential rollbacks on green initiatives under a Trump administration. In the FX market, the U.S. dollar initially surged nearly 2% before settling at +1.4% as traders eyed a potential Federal Reserve rate cut on Thursday. Treasury yields spiked as expectations rose for larger budget deficits and higher inflation under a Republican-controlled fiscal policy. The 10-year Treasury yield jumped 14bps to 4.41%, its highest level in 4 months. Commodities saw mixed movements: - Gold fell 2.8% - Silver dropped 4% - Natural gas rose 3.8% - Oil prices remained steady. But perhaps the most notable rally came in crypto markets. 🚀 - Bitcoin hit a new record high of $75,000 (+8%) - Ethereum gained 10% - Dogecoin surged 14%

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Elon Musk: The world's richest man Elon Musk, the visionary entrepreneur behind Tesla, SpaceX, and other groundbreaking ventures, currently holds the title of the world's richest person. His net worth is $283.2 billion. Musk's innovative spirit and relentless pursuit of ambitious goals have revolutionized industries such as electric vehicles, space exploration, and artificial intelligence. His companies are at the forefront of technological advancement, shaping the future of humanity. Today, Tesla $TSLA shares are trading almost 14% higher following Donald Trump's successful presidential election campaign.

🚨 Trump’s return to the white house & its impact on the markets 🚨 Donald Trump has officially secured his spot back at the White House, but what does that mean for the financial markets? Here’s a quick snapshot of the market response so far: 📈 The S&P 500 is up 2.09%, and the NASDAQ has gained 2.24%. 💰 Bitcoin briefly hit an all-time high, touching $75,000. 🚗 Tesla is also seeing a strong positive reaction from investors. 📱 And despite recent volatility, DJT (the company behind Trump’s Truth Social app) is experiencing a market bounce. As markets continue to react and evolve, we’ll keep you informed with the latest updates.

Donald Trump has secured a win over his Democrat-rival Kamala Harris in the 2024 U.S. presidential election, declared the Associated Press. Trump secured 71,271,787 votes (51%) and 277 electoral votes, while Harris garnered 66,341,752 votes (47.5%) and 224 electoral votes. Find more coverage at ➡ https://lnkd.in/difHQ39Q