The Only Issue More Important Than The President
Published: Tuesday, 05 November 2024 05:09 | 
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In this eye-opening video, we delve into why the monetary system matters more than which party holds the presidency.
US Stocks Climb as Election Day Unfolds: Market Overview
Published: Tuesday, 05 November 2024 01:16 | |
| US stocks advanced as voting commenced in a pivotal presidential election, which is expected to significantly influence future economic policies. The S&P 500 rose over 1%, buoyed by positive momentum in the broader market, with technology stocks like Nvidia and Tesla contributing to gains in the Nasdaq 100. Treasury yields increased following strong data indicating that the US services sector expanded at its fastest pace in over two years, with 10-year yields climbing to 4.34%. The dollar weakened during afternoon trading as investors adopted a cautious stance ahead of the election results. Historically, the S&P 500 has performed well on election days, rising on nine of the last eleven occasions, with a median return of 0.8%.
Rare Uptick for Zimbabwe's Struggling Currency: ZiG Gains 4%
Published: Tuesday, 05 November 2024 01:10 | |
| Zimbabwe's gold-backed currency, the ZiG, has shown a rare positive performance against the US dollar, strengthening by 4% to 26.90 per dollar according to central bank data. This marks the second consecutive day of gains for the ZiG, which has struggled since its introduction in April. The currency's appreciation is attributed to tighter monetary policies implemented by the central bank, including devaluation, interest rate hikes, and increased reserve requirements. However, experts caution that sustaining this momentum may be challenging due to expected high dollar demand during the upcoming agricultural planting season.
Market Volatility Spikes as Treasuries React to Election Day Pressures
Published: Tuesday, 05 November 2024 01:07 | |
| Treasury yields climbed on Election Day, with the two-year yield hitting a multi-month high and the 10-year yield approaching a three-month peak. The increase was driven by strong US services sector data and anticipation of the Federal Reserve's interest rate decision. Market volatility indicators suggested investors were preparing for significant fluctuations in yields following the election results.
Chinese Economic Rebound Fuels Copper Price Surge
Published: Tuesday, 05 November 2024 10:07 | |
| Copper prices have risen for the third consecutive day, driven by positive economic data from China and expectations of further stimulus measures. China's services sector showed strong growth, and recent factory indicators have been better than anticipated, suggesting that existing stimulus efforts may be yielding results. The market is anticipating additional economic support measures from the Chinese government, which could further boost copper demand.