Bitcoin’s record-breaking rally took the digital asset past $89,000 and lifted the overall value of the crypto market above its pandemic-era peak as traders bet on a boom under President-elect Donald Trump. The largest token has jumped about 30% since the US election on Nov. 5 and reached an all-time high of $89,599 in early…
I’m Malcolm Scott, international economics enterprise editor in Sydney. Today we’re looking at China’s options if Trump delivers on his tariff threats. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so here. One of…
Asian stocks may struggle in early trading after Chinese economic measures underwhelmed and the release of anemic inflation data over the weekend. Bitcoin topped $81,000 after President-elect Donald Trump took a clean sweep of the seven US battleground states. Australian shares fell while futures in Tokyo and Hong Kong signal losses after China’s 10 trillion…
For investors looking past the initial risk-on rally in US equities following Donald Trump’s decisive election victory, now comes the hard part. The Republican president-elect made plenty of campaign promises: steep tariffs, tax cuts, business-friendly deregulation and tighter immigration laws, to name some. For investors who plowed into stocks last week on speculation Trump’s policies…
Russian forces suffered an average of around 1,500 dead and injured per day in Ukraine during October, according to the UK’s chief of defence staff. Admiral Sir Tony Radakin told the BBC that the Russian people were paying an “extraordinary price” for Russian President Vladimir Putin’s invasion, saying that October was the worst month for…
A sense of déjà vu overwhelmed Wall Street this week, as Donald Trump’s election win gave the stock market a jolt similar to what happened after his victory eight years ago. Small caps soared, banks leaped and the S&P 500 Index had its best Election Day in history and strongest week in 12 months. The…
Chinese and Indonesian firms will sign business agreements totaling more than $10 billion on Sunday, President Prabowo Subianto said as he met his counterpart Xi Jinping in Beijing during a state visit. Prabowo, on his first foreign trip since his inauguration last month, said the relationship between China and Indonesia is getting “stronger and stronger,”…
Chinese authorities banned a popular blogger known for his strong anti-Western comments, according to the South China Morning Post. Sima Nan, who has more than 3 million followers on China’s social media site Weibo, has been banned across different platforms for a year, according to the paper, which cited two unidentified sources. Sima last posted…
A breakneck rally in Tesla Inc. shares on Friday catapulted the electric-vehicle maker’s market value back over the coveted trillion-dollar mark, as investors bet that Donald Trump’s return to the White House can be a positive force for Elon Musk’s company. Shares of the company closed up 8.2% at $321.22 Friday, taking their gains this…
Stocks rose at the end of their best week in 2024 amid solid consumer sentiment data and bets that Donald Trump’s promises of tax cuts will further benefit corporations. Equities advanced for a fourth consecutive session with the S&P 500 hitting its 50th record this year. The gauge briefly topped the 6,000 mark and ultimately…