The 'Trump Trade' is back! Tesla and Bitcoin hit new historical highs
Last night, the three major U.S. stock indices closed mixed, with the Nasdaq up 1.24%, the S&P 500 up 0.38%, and the Dow down 0.25%.
As Trump's time in office approaches, the 'Trump Trade' is making a comeback.
Last night, Tesla ranked first in trading volume on the U.S. stock market, closing up 6.14%, reaching a new historical high.
According to reports, Trump's transition team plans to eliminate the tax credit for consumers purchasing electric vehicles, impose import taxes on all battery materials globally, and withdraw Biden's support for electric vehicles and charging infrastructure. Musk stated that the removal of subsidies would impact competitors more than Tesla, as he believes Tesla has already established a dominant position in the market. Additionally, Tesla has recently raised prices on some models.
As a representative of the 'Trump Trade', the cryptocurrency market has also surged significantly.
Bitcoin broke through the $107,700 mark during trading, currently reported at $105,584 per coin.
Amid wide fluctuations, short-selling Bitcoin and going long at high levels has resulted in heavy losses for investors. In the past 24 hours, over 110,000 people were liquidated, with liquidation amounts exceeding $400 million.
Moreover, last night Apple, Google, and Amazon all reached new highs.
Most popular Chinese concept stocks saw declines. iQIYI fell about 8%, Manbang, Tencent Music, and BOSS Zhipin fell over 5%, and Bilibili fell over 3%.
This week, global attention is on the Federal Reserve's interest rate decision. According to CME's 'FedWatch': the probability of the Federal Reserve maintaining the current interest rate in December is 4.6%, while the probability of a cumulative 25 basis point rate cut is 95.4%.
