Bitcoin surges to new record of $75,000 as traders bet on Trump’s electoral advantage
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Bitcoin Stocks rose to record highs late Tuesday as investors bet former President Trump would gain an edge in the U.S. election.
The price of the flagship cryptocurrency hit a record $75,000, according to Coin Metrics. NBC News’ gains have increased as Trump takes the lead in the Electoral College, although the polls haven’t yet been cast in any of the key battleground states.
exchange operator Coin library rose 3% in after-hours trading, while micro strategyup 4%.
For more on Bitcoin price action on election night, read our full article here.
— Tanaya Machel
10-year Treasury bond yields surge
Treasury yields rise sharply In early trading late Tuesday, traders were betting former President Donald Trump had the advantage in the election.
this 10-Year Treasury Bond The yield rose 16 basis points to 4.44%, the highest since July 2. 2-Year Treasury Bond rose 10 basis points to 4.30%. 1 basis point is equivalent to 0.01%. There is a reciprocal relationship between output and price.
Although NBC News has not yet released a list of key swing states, traders speculate that early returns will be in Trump’s favor.
Bond yields could rise sharply If Trump wins, the Republican Party could achieve a landslide victory, taking control of Congress and the White House. That’s because Republicans are likely to roll out tax cuts and high tariffs, measures that could widen the fiscal deficit and reignite inflation.
“Bonds are seeing a massive sell-off across the yield curve as the Trump trade is enacted again,” Byron Anderson, head of fixed income at Laffer Tengler Investments, wrote. “We see markets expecting a Trump win, And there’s a real possibility of a Republican sweep.”
— Yun Li
CNBC Pro: These 3 stocks to buy regardless of election outcome, analysts say
as a result of one of America’s most hotly contested election Once in, investors rush to build positions for the most likely outcome.
Shelby McFaddin, senior analyst at Motley Fool Asset Management, said she expected volatility this week but “limited impact on long-term investing as the market awaits real policy impact.”
She told CNBC’s “Street Signs Asia” on Nov. 5 that any bets made before the final results are known are “pure speculation.” A worrying question.
Looking back at the election results, McFaddin listed three stocks she likes right now.
CNBC Pro subscribers can read more here.
— Amala Balakrishna
Citibank’s Scott Cronut says investors should sell stocks that rise on Trump or buy stocks that fall on Harris
Investors should sell on a potential market rebound if: trump card Citibank’s Scott Chronert said he won the election.
“You’re starting from a fairly broad valuation environment based on very strong earnings growth going forward into 2025,” the bank’s U.S. equity strategist told CNBC.quack in the street“Tuesday. “What we worry about is that once Trump wins, you introduce tariffs into the discussion… (and) as we take action on tariffs, the growth expectations for 2025 become more questionable.
On the other hand, if Harris Chronert said investors should consider buying in anticipation of market declines.
“It really comes down to Trump and tariffs and Harris and taxes,” he said.
— Sean Conlon
Goldman Sachs says oil markets could face volatility if Trump wins
Goldman Sachs said a second Trump administration is more likely to bring volatility to the oil market.
The investment bank told clients in a note on Monday that Donald Trump is likely to tighten sanctions on Iran, reducing Iranian supplies and putting upward pressure on prices in the near term.
Oil prices rose about 1% as U.S. voters headed to the polls. U.S. crude oil Oil prices rose 35 cents, or 0.49%, to $71.82 a barrel as of 8:56 a.m. ET. global benchmark Brent Crude oil futures rose 33 cents, or 0.44%, to $75.41 a barrel.
“Conceptually, the impact of a potential Trump re-election on oil prices,” Yulia Zhestkova Grigsby, vice president of commodities research at Goldman Sachs, told clients in a note on Monday. is vague.
However, Goldman Sachs said that in the medium term, the second Trump administration may intensify trade tensions through tariffs, which will put downward pressure on global oil demand and prices.
— Spencer Kimball
CNBC Pro: No matter who wins, these two stocks beat the S&P 500 in November election
Two stocks outperforming the market S&P 500 Index According to a study by CNBC Pro, the election has been held every November for the past three decades, regardless of the outcome.
CNBC Pro screens for stocks in the MSCI World Index that are gaining more than average right now S&P 500 Index Its losses have been lower than the index in November of every election year since 1988.
CNBC Pro subscribers can read about Here are two stocks.
— Ganesh Rao
European Markets: Here are the opening calls
European markets are expected to open lower on Wednesday.
British FTSE 100 German stocks are expected to open 8 points lower at 8,167 German DAX Index France fell 65 points to 19,189 CAC Down 22 points to 7,383 points, Italy FTSE MIB It fell 134 points to 34,098, according to IG data.
Earnings were generated by Novo Nordisk, Skanska, Lundin Petroleum, Ahold Delhaize, PUMA, Crédit Agricole, Pandora, Commerzbank, Henkel and Enel, among others.
— Holly Elliot
