According to BlockBeats news, on November 11, the “Trump trade” set off a climax in the market last week. Trump’s return to the White House and the possibility of a Republican victory in Congress, as well as the Federal Reserve’s 25 basis point interest rate cut as scheduled, have settled two key risk events and prompted a significant rebound in financial markets.
According to 4E monitoring, U.S. stocks are rising rapidly. The three major indexes all hit new highs this week, and the Dow and S&P 500 recorded their best weekly performance of the year. Among them, the S&P 500 Index rose 4.66% for the whole week, the Dow Jones Industrial Average rose 4.61%, and the Nasdaq Index rose 5.74%. Tesla surged to a new high since April 2022, rising 29.01% for the whole week, and its market value exceeded one trillion. In U.S. dollars, Nvidia once surpassed Apple to become the world’s most valuable company again, rising 9.03% for the week. The total market value of the seven technology giants increased by nearly US$940 billion in one week.
Boosted by Trump’s support for cryptocurrencies and the prospect of pro-cryptocurrency lawmakers in Congress, Bitcoin broke through the $80,000 mark and set a new all-time high. As of press time, it was trading at US$81,635, a cumulative increase of over 18% in the past 7 days. Ethereum was quoted at $3,207, with a cumulative increase of more than 30% in the past 7 days. Altcoins broke out collectively, with gains generally outpacing the broader market, boosting market sentiment.
In terms of foreign exchange commodities, the U.S. dollar index rose this week, rising 0.6% for the whole week for six consecutive weeks. Non-U.S. currencies were generally under pressure this week. Oil prices fluctuated greatly throughout the week. At the beginning of the week, OPEC+ issued a statement to postpone the increase in production again, and oil prices rose sharply. However, U.S. EIA crude oil supply hit a new high since August, dragging down the increase in oil prices throughout the week. Brent oil rose 1.09% throughout the week. Spot gold fell 1.85% for the week as the U.S. dollar strengthened and the Federal Reserve signaled it was open to suspending interest rate cuts.
As the U.S. election comes to an end, investors will turn back to the outlook for monetary policy and corporate earnings performance, and continue to assess the impact of Trump’s policy expectations. Many Federal Reserve officials will give speeches this week, and the latest U.S. CPI data, PPI data and retail sales data will become important references for investors to judge the health of the U.S. economy and the extent of the Fed’s interest rate cut in 2025. eeee.com is a financial trading platform that supports cryptocurrencies, stock indexes, bulk gold, foreign exchange and other assets. It recently launched a USDT stablecoin financial product with an annualized return of 5.5%, providing investors with potential hedging options. 4E reminds you to pay attention to market fluctuation risks and allocate assets reasonably.
