Morning Wrap (07.11.2024)

📈 Wall Street Rally: Following Trump’s presidential win, Wall Street closed with significant gains:

Russell 2000: +5.84% 📊Nasdaq: +2.95%Dow Jones: +3.57%S&P500: +2.53%

🌏 Global Markets: Despite concerns over Trump’s policies, stocks in China 🇨🇳 and Hong Kong 🇭🇰 are also rising. The China A50 index is up 2.3% intraday.

📉 Futures Outlook: US stock futures signal continued gains, while Europe remains cautious:

Nasdaq Futures: +0.27%DAX Futures: -0.25%CAC40 Futures: -0.2%

💹 Currency Rebound: EURUSD is attempting a comeback after yesterday’s drop, hovering near 1.074. Meanwhile, USDJPY is holding above 154.00. Antipodean currencies are leading early Thursday, while the dollar and euro see slight corrections.

⏰ Fed Decision Incoming: All eyes on the Fed’s announcement at 7:00 pm GMT. Markets anticipate a 25 bps rate cut as the Fed resumes monetary easing. Jerome Powell will provide insights at 7:30 pm GMT.

🏦 Other Central Bank Updates: Today also features rate decisions from Norges Bank, Sveriges Riksbank, CNB, and BoE.

💸 Crypto Market Cooldown: The crypto rally is easing; Bitcoin is down 1.2%, while Ethereum is back up by 3%.

🌍 Commodities Check: Relatively stable movement:

NATGAS: +0.8%WTI Crude Oil: +0.02%Gold: -0.14%Silver: -0.4%

📲 Stay tuned for more updates on these evolving market trends!

🌅 Morning Wrap (07.11.2024) was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.