Asia stocks upbeat ahead of Trump inauguration; China shares advance By Investing.com

Asia stocks upbeat ahead of Trump inauguration; China shares advance By Investing.com


Investing.com– Most Asian stocks rose on Monday amid some hopes that U.S. President-elect Donald Trump will not adopt an as harsh rhetoric against China as feared when he takes office later in the day. 

Regional stocks took a positive lead-in from Wall Street on Friday, as a slew of positive bank earnings and growing hopes of interest rate cuts sparked strong gains in U.S. stocks.

U.S. stock futures were less upbeat in Asian trade on Monday, falling slightly amid some caution over Trump. U.S. markets will also be closed on Monday for Martin Luther King, Jr. Day. 

Asia stocks rise amid Trump speculation 

Most Asian stocks rose, with Japanese and Hong Kong shares in the lead. Japan’s and indexes rallied 1.5% each, while Hong Kong’s index added 1.6%. 

Hopes of a less harsh rhetoric against China grew after Trump did not make any mention of his plans for trade tariffs during a victory lap rally in Washington on Sunday. But the President-elect did reiterate plans to crack down on immigration and to reduce government oversight of domestic companies.

Trump also held a call with Chinese President Xi Jinping last week, spurring hopes that Sino-U.S. relations will improve under the incoming President.

Fox News Digital reported that Trump was planning to sign a record-high number of executive orders when he takes office on Monday, some of which could still include increased trade tariffs against China. 

The President-elect had vowed to impose an up to 60% duty on all Chinese imports, while also targeting Mexico and Canada with heightened tariffs. 

Such a move stands to potentially disrupt global trade, and bodes poorly for export-driven economies. 

Chinese shares rise as PBOC keeps rates unchanged

China’s and indexes rose 0.8% and 0.5%, respectively. 

The People’s Bank of China kept its benchmark loan prime rate unchanged as widely expected on Monday, with Beijing seen keeping its stimulus powder dry while seeking more clarity on Trump’s plans for trade tariffs. 

China is expected to dole out even more aggressive stimulus measures to offset the economic headwinds from any potential tariff increases. Trump’s tariffs are expected to provide even more pressure on the Chinese economy, as it grapples with persistent disinflation and a prolonged property market crash.

Still, data released last week showed some improvement in China’s economy, after Beijing released its most aggressive round of stimulus measures yet in late-2024. 

Chinese markets were also boosted by recent gains in chipmaking stocks, as more U.S. export controls on the sector sparked bets that local foundries will benefit from increased domestic demand. 

Broader Asian markets were mostly higher on Monday, although gains were largely limited by caution before Trump. Beyond the U.S. Presidential inauguration, focus this week is also on a string of key economic readings, as well as a Bank of Japan meeting. 

Australia’s rose 0.2%, while for India’s index pointed to a mildly positive open, after the index clocked a series of steep losses last week.

Singapore’s index lagged, falling 0.3%, while South Korea’s traded sideways. Any disruptions in global trade stand to significantly impact both economies, given their reliance on exports.





Source link

Dollar dips, stocks creep higher as second Trump term dawns

Dollar dips, stocks creep higher as second Trump term dawns


By Nell Mackenzie and Tom Westbrook

LONDON/SINGAPORE (Reuters) -The dollar drifted lower and stocks were cautiously positive on Monday as investors awaited an expected flurry of policy announcements during the first hours of Donald Trump’s second presidency and eyed a rate hike in Japan at the end of the week.

Trump takes the oath of office at noon Eastern Time (1700 GMT), and promised a “brand new day of American strength” at a rally on Sunday.

He has stoked expectations of a slew of executive orders right away and, in a reminder of his unpredictability, launched a digital token on Friday, which soared above $70 before sliding to around $50 as traders turned uneasy.

Monday is a U.S. holiday, so the first responses to his inauguration in financial markets may be felt in foreign exchange and then during Asian trade on Tuesday.

European stocks edged higher at the open, supported by banks and technology stocks. The pan-European STOXX 600 crept up 0.1%, with the French CAC 40 up 0.2%, the UK FTSE higher by 0.3% and the German DAX flat.

“The fall back in Treasury yields revived equity markets, with European indices doing particularly well,” said a note from the Edmond de Rothschild Group.

Shorter-dated euro zone bond yields steadied by 0923 GMT.

“Trump dominates everything in terms of where we go,” Societe Generale chief FX strategist Kit Juckes said in his morning note, referencing markets in general and noting that trader positions betting on a rise in the dollar compared with other currencies had reached their highest since 2022.

The dollar is up more than 8% on the euro since September and at $1.0309 is not far from last week’s two-year high. But so much is priced in that some analysts feel a more gradual start to U.S. tariff hikes may draw out some sellers.

Trump has threatened tariffs of as much as 10% on global imports and 60% on Chinese goods, plus a 25% import surcharge on Canadian and Mexican products, duties that trade experts say would upend trade flows, raise costs and draw retaliation.

The Canadian dollar touched a five-year low of C$1.4474 per dollar on Monday. The Mexican peso hit a 2-1/2 year low of 20.94 per dollar on Friday. [FRX/]

Bitcoin shot up 4%, hitting a record high of $108,943, while Trump’s newly-created cryptocurrency launched on Friday – known as $TRUMP – soared to nearly $12 billion in market value, drawing in billions in trading volume. Melania Trump’s crytocurrency launched on Sunday hit a market cap of $1.9 billion.

CHINA FOCUS

China is in focus as the target of the harshest potential trade levies. Investors have cheered better-than-expected Chinese growth data and a Friday phone call between Trump and Chinese President Xi Jinping that left both upbeat.



Source link

Dow Jones Futures Fall With Inauguration Due; $TRUMP Meme Coin, TikTok In Focus

Dow Jones Futures Fall With Inauguration Due; $TRUMP Meme Coin, TikTok In Focus


Dow Jones futures edged lower Sunday night, along with S&P 500 futures and Nasdaq futures. U.S. markets will be closed Monday for the Martin Luther King holiday. Donald Trump’s inauguration also will be Monday, with the incoming president expected to issue a flurry of day one executive orders.

The stock market rally had a strong week, with the Nasdaq and S&P 500 moving back above their 50-day moving averages. Treasury yields tumbled on tame inflation data while strong earnings also buoyed the major indexes. Bitcoin spiked to near record highs on expectations of pro-crypto Trump moves.

Tesla (TSLA), ServiceNow (NOW), Vertiv (VRT), Amazon.com (AMZN) and Broadcom (AVGO) flashed buy signals. Goldman Sachs (GS), Energy Transfer (ET), Viking Cruises (VIK) and Quanta Services (PWR) also are actionable, along with several of their respective peers.

The video embedded in the article analyzes the weekly market action in depth and reviews Viking stock, ServiceNow, Amazon and much more.




↑
X



NOW PLAYING
Stocks Surge Into Trump 2.0; Viking Holdings, ServiceNow, Amazon.com In Focus



President-elect Trump launched his own cryptocurrency on Friday night. The $TRUMP meme coin has soared in value, with Trump businesses controlling some 80%. Melania Trump has launched her own meme coin, $MELANIA.

TikTok restored operations, hours after complying with a U.S. law that banned it as of Sunday. Trump posted on social media that he will issue an executive order giving the Chinese-owned video app a temporary reprieve.

Dow Jones Futures Today

Dow Jones futures lost a fraction vs. fair value. S&P 500 futures dipped 0.1% and Nasdaq 100 futures declined 0.2%.

Bitcoin is below $102,000 after topping $106,000 earlier and later undercutting $100,000. The record high is above $108,000 set on Dec. 17.

With U.S. stock and bond markets closed Monday for the Martin Luther King holiday, U.S. investors may not get a clear initial reaction to Trump’s day one moves until Tuesday.

Stock markets around the world will be open Monday, while Bitcoin and other cryptocurrencies like $TRUMP will trade 24/7.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

These Stocks Are Building Big Gains As Trump Looms

Trump Executive Orders

Trump will be sworn in Monday, and he’s expected to get right to work, issuing perhaps 100 or even 200 executive orders on day one.

Trump’s executive orders are expected to cover a range of issues, including energy policies, deportations, bitcoin and more, as well as his promised TikTok order.

Those could have a big impact on Wall Street, especially specific sectors and stocks. But markets may have already priced much of this news in.

On Friday, Trump spoke with Chinese President Xi Jinping on trade, TikTok and much more, reporting a “very good” call. That could ease trade war fears as Trump reenters the White House.

Join IBD experts as they analyze leading stocks and the market on IBD Live

Stock Market Rally

The stock market rally showed strong action in the past week.

The Dow Jones Industrial Average gained 3.7% in last week’s stock market trading, briefly topping the 50-day moving average Friday. The S&P 500 index popped 2.9% and the Nasdaq composite 2.45%, both moving above their 50-day lines Friday.

The small-cap Russell 2000 jumped about 4%, but is still below the 50-day line.

The Invesco S&P 500 Equal Weight ETF (RSP) and The First Trust Nasdaq 100 Equal Weighted Index ETF (QQEW) also rebounded from their 200-day lines, jumping 3.9% and 3.7%, respectively, for the week. RSP is just below the 50-day line while QQEW cleared that key level for the first time in a month.

All the key indexes and equal-weight ETFs are still in ranges going back to December.

More bullishly, leading stocks across a wide range of industries are acting well.

AI giant Nvidia (NVDA) rose modestly for the week, but is still below the 50-day line.

The 10-year Treasury yield dived 16 basis points to 4.61%, falling back from a 52-week high of 4.81% intraday Tuesday.

U.S. crude oil futures rose 1.7% to $77.88 a barrel last week, but finished off midweek highs above $80.

Bitcoin shot up to nearly $106,000 intraday Friday, trading at 104,767.70 as of 4 p.m. ET Friday. Bitcoin and other cryptocurrencies rallied on reports of a pro-crypto Trump executive order on Monday, creating a crypto advisory council. Falling Treasury yields, along with general risk-on sentiment, also buoyed bitcoin.

ETFs

Among growth ETFs, the Innovator IBD 50 ETF (FFTY) jumped 3.6% last week. The iShares Expanded Tech-Software Sector ETF (IGV) bounced 3.2%, with ServiceNow stock a big holding. The VanEck Vectors Semiconductor ETF (SMH) rallied 4.5%. Nvidia stock and Broadcom are significant positions in SMH.

ARK Innovation ETF (ARKK) rebounded 3.7% last week but ARK Genomics ETF (ARKG) fell 2.55%. Tesla stock is a major holding across Ark Invest’s ETFs.

SPDR S&P Metals & Mining ETF (XME) leapt 5.6% last week. SPDR S&P Homebuilders ETF (XHB) soared 8.1%. The Energy Select SPDR ETF (XLE) soared 6.3% and the Health Care Select Sector SPDR Fund (XLV) edged up 0.4%. The Industrial Select Sector SPDR Fund (XLI) shot up 4.9%.

The Financial Select SPDR ETF (XLF) surged 6.15%, with Goldman stock a key holding.

Cruise Lines Sail On Lifted Targets, Demand Strength. One Breaks Out.

Tesla Stock

Tesla stock surged 8.05% to 426.50 for the week, rebounding from the 10-week line and breaking a short, relatively steep downtrend within a short consolidation. TSLA stock could have a new base after one more week, with a potential 488.54 buy point. Tesla earnings are due on Jan. 29, with a lot of interest in Elon Musk’s latest timelines for self-driving, the “affordable” EV model and more.

Musk is a huge supporter and adviser to Donald Trump.

Other Stocks In Buy Zones

ServiceNow, Broadcom, Amazon, Quanta Services and Vertiv stock all flashed early entries within bases.

Viking stock, Goldman Sachs and Energy Transfer are breakouts.

Time The Market With IBD’s ETF Market Strategy

What To Do Now

The stock market rally is on the upswing, with strong bullish signals this past week. This may end up being a short-term move in a choppy trend, but right now the action in the indexes and especially leading stocks is positive.

Investors should take advantage of buying opportunities, adding exposure gradually. Look to buy stocks beyond the AI and tech space, given the breadth of leadership right now.

Work on your watchlists, scanning for the stocks and sectors that are leading and setting up. But be ready to scale back if the market does retreat.

The Trump inauguration could be a buy or sell the news event when the stock market reopens Tuesday.

Earnings season will ramp further this coming week, with Netflix (NFLX), GE Vernova (GEV), GE Aerospace (GEV) and American Express (AXP) among the many notable names.

Nvidia stock is on IBD Leaderboard, with Tesla stock on the Leaderboard watchlist. Viking, ServiceNow, Goldman and Amazon stock are on SwingTrader. Broadcom, Quanta Services and Vertiv stock are on the IBD 50. Vertiv, Broadcom and ServiceNow stock are on the IBD Big Cap 20.

ServiceNow was Friday’s IBD Stock of The Day. Broadcom stock was Thursday’s pick.

Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.

YOU MIGHT ALSO LIKE:

Why This IBD Tool Simplifies The Search For Top Stocks

Catch The Next Big Winning Stock With MarketSurge

Best Growth Stocks To Buy And Watch

IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today

How To Invest: Rules For When To Buy And Sell Stocks In Bull And Bear Markets

Broadcom, Goldman Sachs Lead 5 Stocks In Buy Areas





Source link

Immigrants in Chicago and other US cities brace for expected Trump deportation arrests

Immigrants in Chicago and other US cities brace for expected Trump deportation arrests


CHICAGO (AP) — The Rev. Homero Sanchez said he didn’t realize the depth of fear in the Chicago immigrant community he serves until someone asked him to handle the sale of their family’s home and other finances if they are picked up this week when President-elect Donald Trump takes office.

Immigrants in large cities have been preparing for mass arrests since Trump won election in November, but reports that his initial push would be in the Chicago area has brought a new sense of urgency and fear.

“They feel they have been targeted for who they are. They feel like they’re reviving this fear they had eight years ago,” said Sanchez of St. Rita of Cascia Parish on Chicago’s South Side. “They’re feeling like something is going to happen. This is not their city because of the threat.”

Sanchez, whose congregation has consisted mostly of people of Mexican descent since the 1980s, devoted Sunday Mass “to solidarity with our immigrant brothers and sisters.”

Some immigrants in the country without legal status have been designating power of attorney to trusted friends, making plans for childcare in case of separations and installing security cameras on their doors in case immigration agents come. Others have left voluntarily, as Trump aides have encouraged them to do.

Plans for deportation arrests are in flux, but federal immigration officers will target more than 300 people with histories of egregious, violent crimes after Trump takes office Monday, one official said Saturday, speaking on condition of anonymity because the plans have not been made public.

The operation will be concentrated in the Chicago area and continue all week, subject to potential weather delays, the official said. Temperatures in Chicago dipped to 6 degrees Fahrenheit (-14.4 degrees Celsius) with cold temperatures forecast throughout the week.

U.S. Immigration and Customs Enforcement arrests a fraction of its targets in such operations, though Trump is expected to cast a wider net than President Joe Biden, whose focus on picking up people away from the border was largely limited to those with serious criminal histories or who pose a risk to national security. Biden’s administration also ended the practice of mass worksite arrests, which were common under Trump, including a 2019 operation targeting Mississippi chicken plants.

Trump aides have said they will arrest others, such as spouses or roommates, who are not targets but happen to be in the country illegally.

Trump told NBC News on Saturday that mass deportations remain a top priority. He didn’t give an exact date or city where they’ll start, but he said they would begin soon.

“It’ll begin very early, very quickly,” he said, adding: “I can’t say which cities because things are evolving. And I don’t think we want to say what city. You’ll see it firsthand.”

Sanctuary cities, which limit how local police can cooperate with federal immigration agents, have been one of Trump’s favorite targets — especially Chicago.

The nation’s third-largest city became a so-called sanctuary city in the 1980s and has beefed up its policies multiple times since, including after Trump first took office in 2017. Last week, the City Council heartily rejected a longshot plan calling for exceptions allowing local police to work with ICE agents on deportation cases for people accused or convicted of crimes.

Trump’s incoming so-called “border czar” Tom Homan blasted top Democratic leaders in the state during a visit to the Chicago area last month where he indicated enforcement would start there. But in recent days he told media outlets that plans were evolving.

Homan said on the Fox News program “America’s Newsroom” on Sunday that Chicago was still on the table but that the new administration was “reconsidering when and how we do it.”

An ICE spokesperson referred questions Sunday to the Trump transition team, which did not immediately respond to a request for comment. The plan was reported earlier by The Wall Street Journal, which said the operation is expected to begin Tuesday.

Community and religious leaders in Chicago said they were disappointed with the potential operation, but ready.

Chicago Mayor Brandon Johnson said Sunday on X that his “commitment to protecting and supporting this city remains unwavering.”

Cardinal Blase Cupich, who leads the Archdiocese of Chicago, spoke out as well.

“The reports being circulated of planned mass deportations targeting the Chicago area are not only profoundly disturbing but also wound us deeply,” Cupich said Sunday during a visit to Mexico City, according to a copy of his prepared remarks. “We are proud of our legacy of immigration that continues in our day to renew the city we love.”

Immigrant rights advocates in Chicago rallied Saturday, including Democratic U.S. Reps. Jesus “Chuy” Garcia and Delia Ramirez. They urged immigrants in Chicago to remain calm and exercise their rights, particularly to remain silent and refuse to allow officers into their homes without warrants. Some advocacy groups have planned legal workshops anticipating mass arrests next week.

Ramirez planned to skip Monday’s inauguration to post flyers in immigrant-heavy Chicago neighborhoods with information on what to do in case of an encounter with immigration agents.

“We won’t let our guard down in Chicago,” Garcia wrote on X.

Carlos, an immigrant from Mexico, has lived in the Chicago area for decades. The 56-year-old doesn’t have legal status to stay in the country but has work authorization in construction and welding. He declined to give his last name and discuss details of his immigration status for fear of being targeted for deportation.

He has three children who have legal status to stay in the country through the Obama-era Deferred Action for Childhood Arrivals, or DACA, which remains in legal limbo.

Carlos said the family’s contingency planning for deportation includes finding someone to manage their bank accounts, home and car. They’ve also installed a camera on their suburban Chicago home and plan to screen all visitors.

“If people come to the house, don’t open the door,” he explained. “Ask who it is. Don’t open it unless they have an order.”

___

Associated Press writer Elliot Spagat contributed to this report from San Diego.





Source link

Trump Border Czar Denounces Leak On Chicago Immigration Raids, Says No Decision Made Yet

Trump Border Czar Denounces Leak On Chicago Immigration Raids, Says No Decision Made Yet


CHICAGO — Incoming President Donald Trump’s “border czar” Tom Homan is hesitating to carry out a leaked plan to flood Chicago with immigration officers during the president-elect’s first week in office, he said in an interview with the Washington Post Saturday.

Homan, the former acting director of Immigration and Customs Enforcement, told the Washington Post he “hasn’t made a decision yet” regarding a plan first reported by the Wall Street Journal and New York Times to send 150-200 ICE officers to the city as soon as Tuesday.

“We’re looking at this leak and will make a decision based on this leak,” Homan told the Washington Post. “It’s unfortunate because anyone leaking law enforcement operations puts officers at greater risk.”

He went on to say he didn’t know “why Chicago was mentioned specifically” and explained the incoming administration’s intended scope was far broader than just Chicago.

The “Operation Safeguard” plan was slated to launch the day after Trump’s inauguration and run until the following Monday, according to two unnamed current federal agents and a former official who spoke with the New York Times. Now, Homan wants to make it clear that ICE’s commitment to specifically target undocumented immigrants with criminal records or who have evaded deportation in the past will be a “nationwide thing,” he said to the Washington Post.

“ICE will start arresting public safety threats and national security threats on day one,” he said. “We’ll be arresting people across the country, uninhibited by prior administration’s guidelines. … We’re not sweeping neighborhoods. We have a targeted enforcement plan.”

The Trump administration is gearing up for what it says will be the largest mass-deportation operation in United States history. An executive order declaring a state of emergency on the southern border will most likely be signed on Monday, Trump’s first day in office, according to Politico.

Previous announcements of big raids by the Trump administration created panic, but did not lead to mass deportations. In 2019, 2,000 migrants were targeted in raids across the country, but only 35 were actually arrested, the Times reported.

The Congressional Hispanic Caucus released a statement Sunday denouncing the Trump administration’s “unconstitutional” deportation aspirations, saying ICE raids violate a person’s Fourth Amendment rights against unlawful searches and seizures.

“We recognize the profound anxiety, fear and apprehension these actions bring to our communities,” the caucus said. “The CHC is committed to serving as a resource and advocate for all families impacted by the unconstitutional actions of the incoming administration, and we will continue to fight for the rights, safety and the dignity of all communities.”

Meanwhile, Homan condemned the people who leaked the operation and declined to comment on whether or not there was a specific plan to send ICE agents to Chicago, opting to defer to regional ICE officials.

Just last month, Homan announced mass deportations efforts would “start right here in Chicago” at an event on the Northwest Side, prompting widespread backlash across the city.

Mayor Brandon Johnson was absent from a Saturday morning press conference addressing the Trump administration’s targeting of Chicago, but touted his administration’s dedication to progressive values in an X post on Sunday.

“Chicago stands strong: regardless of the circumstances, our commitment to protecting and supporting this city remains unwavering. We will continue to fight for the justice and safety of all who call this place home,” he said.

The back-and-forth frenzy comes after Chicago stood by its Sanctuary City status in a 39-11 City Council vote against changes on Wednesday, meaning local law enforcement still cannot assist ICE officials with deportations or raids. That doesn’t mean ICE agents can’t conduct operations within Chicago city limits, though.

Prior to Homan’s confirmation that plans to raid Chicago weren’t set in stone yet, Ald. Andre Vasquez (40th) told Block Club he and other city officials were privately doubting the Trump administration’s ability to mobilize ICE so soon after taking office.

”I don’t believe [the Trump administration] really has the resources to really amp up the way they’re starting to, but they want people to believe a big change is happening,” Vasquez explained. “It is really all about the communication and messaging.”

Anyone has the right to refuse an ICE agent entry, even undocumented immigrants. Read more about what immigrant communities should know about their rights here.

Listen to the Block Club Chicago podcast:





Source link

‘God Candle’ Suddenly Sends Bitcoin To All-Time High Price As Trump Stuns Crypto

‘God Candle’ Suddenly Sends Bitcoin To All-Time High Price As Trump Stuns Crypto


Bitcoin has suddenly shot higher, climbing to a fresh all-time high of around $110,000 per bitcoin as Donald Trump gears up to reenter the White House (with the market braced for a big week ahead).

Unlock over $3,000 in NFT, web3 and crypto perks — Apply now!

The bitcoin price shot higher, hitting levels not seen since the aftermath of Trump’s November election victory, after Trump and his wife Melania stunned the crypto market by launching rival memecoins over the weekend.

Now, as expectations build that Trump could create a U.S. bitcoin reserve that may contain other, rival cryptocurrencies, the bitcoin price has experienced what has been described as a “god candle.”

Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run

“God candle,” Samson Mow, a bitcoin developer who leads the Jan3 bitcoin wallet company, posted to X and referring to a sudden spike in the bitcoin price that creates a “candle” on a trading chart as the bitcoin price suddenly soared, hitting $109,400 on the Coinbase bitcoin and crypto exchange.

Mow has predicted the bitcoin price will rocket to $1,000,000 in 2025, pointing to Trump’s return to the White House and the recent growth of the global money supply.

“History will be made on Monday when Trump becomes the first pro-crypto president in the U.S., and new all-time highs could be imminent,” Lark Davis, a bitcoin and crypto influencer and writer of the Wealth Mastery newsletter, wrote, pointing to “the odds of the U.S. creating a strategic bitcoin reserve in 2025 have skyrocketed” on the crypto-powered prediction platform Polymarket.

In July, then Republican presidential candidate Trump promised to create a “strategic national bitcoin reserve” and predicted bitcoin could eclipse gold’s $16 trillion market capitalization during an appearance at the Bitcoin 2024 conference.

Sign up now for CryptoCodex—A free, daily newsletter for the crypto-curious

ForbesIt’s ‘Just Begun’—Trump Meme Coin Suddenly Crashes Back As Melania Coin Shock Hits CryptoBy Billy Bambrough

“We believe Trump will turn some of his crypto rhetoric into action in his first 90 days in office and this should catapult prices,” Ed Hindi, chief investment officer at Tyr Capital, said in emailed comments.

“Creating a U.S. bitcoin strategic reserve will be one of them. Other countries will be forced to follow suit and hence create a price action virtuous cycle.”

Trump, the self-styled crypto president, will reportedly issue several crypto-related executive orders on his first day back in the White House, January 20—with one predicted to spark a huge bitcoin price boom.

“The sudden increase has come from a bunch of potential pro-crypto executive orders that Trump could start issuing from Monday,” Davis wrote, adding: “Things are going to get interesting from here.”



Source link

Melania Trump launches cryptocurrency on eve of inauguration

Melania Trump launches cryptocurrency on eve of inauguration


Disclaimers on the websites of both the $Trump and $Melania coins said they were “not intended to be, or the subject of” an investment opportunity or a security.

According to the CoinMarketCap website, $Trump has a total market valuation of about $12bn (£9.8bn), while $Melania’s stands at around $1.7bn.

Trump had previously called crypto a “scam” but during the 2024 election campaign became the first presidential candidate to accept digital assets as donations.

On the campaign trail, Trump also said he would create a strategic bitcoin stockpile and appoint financial regulators that take a more positive stance towards digital assets.

That spurred expectations that he would strip back regulations on the crypto industry.

In the wake of Trump’s victory, bitcoin jumped to a record high and is currently trading at around $107,000, according to crypto trading platform Coinbase.

On Friday, the incoming artificial intelligence (AI) and crypto tsar David Sacks held a “Crypto Ball” in Washington, DC.

Other cryptocurrencies, including dogecoin – which has been promoted by high-profile Trump supporter Elon Musk – have also risen sharply this year.

Under President Joe Biden, regulators cited concerns about fraud and money laundering as they cracked down on crypto companies by suing exchanges.



Source link

Donald Trump plans blitz of executive orders for first days in White House – Financial Times

Donald Trump plans blitz of executive orders for first days in White House – Financial Times


  1. Donald Trump plans blitz of executive orders for first days in White House  Financial Times
  2. Trump Promises Shock and Awe on His First Day in Office  Bloomberg
  3. Trump’s first orders likely to include border, drilling, DEI policies  The Washington Post
  4. How do Donald Trump’s executive orders compare to all other US presidents?  Al Jazeera English
  5. Trump is about to be sworn in. Here are all the changes he has promised to make on Day One  Business Insider



Source link

People’s March updates: Large crowds expected in Washington DC as Donald Trump prepares for inauguration

People’s March updates: Large crowds expected in Washington DC as Donald Trump prepares for inauguration


The march that started it all

Holly Honderich
Reporting from Washington DC

Thousands of people march in Washington DC in January 2017Getty Images

In the aftermath of Donald Trump’s surprise 2016 victory over Hillary Clinton, the first march came together at an impressive clip, transforming from a couple of disconnected Facebook posts from women calling for a protest into a blueprint for a national movement within weeks.

By 21 January, hundreds of thousands of people were pouring into the nation’s capital, bringing crowds nearly three times the size of Trump’s inauguration the day before.

In Washington and at coordinated events across the US, women carried signs railing against Trump and sported pink knit “pussyhats” – a pointed reference to the Access Hollywood tape in which Trump bragged about grabbing women’s genitals.

“I had never seen anything this crowded, you could barely move,” said Sharon Baseman, a Democratic activist in Michigan who travelled to DC for the 2017 march.

“It was overwhelming and it was inspiring.”

In the years that followed, the Women’s March remained the face of the fight against Trump’s Make America Great Again (MAGA) agenda. The movement helped unite the Democratic Party against Trump, a strategy enabled them to retake the White House in 2020.

But in the wake of Trump’s victory in November, leaders must grapple with the resistance’s failures, and its future.



Source link