According to ChainCatcher, last week the 'Trump Trade' stirred up a climax in the market. Trump's return to the White House and the Republican Party's potential sweeping victory in Congress, coupled with the Federal Reserve's expected 25 basis point interest rate cut, settled two major risk events, prompting a significant rebound in the financial markets.
According to 4E monitoring, US stocks surged rapidly, with all three major indices reaching new highs last week. The Dow Jones and the S&P 500 recorded their best weekly performance of the year. Among them, the S&P 500 index accumulated a 4.66% increase over the week, the Dow rose 4.61%, and the Nasdaq climbed 5.74%. Tesla surged to a new high since April 2022, with an accumulation of 29.01% over the week, reaching a market value of over $1 trillion. Nvidia temporarily surpassed Apple to become the world's highest market capitalization company, accumulating a 9.03% increase over the week. The total market capitalization of the seven tech giants grew nearly $94 billion over the week.
Benefiting from Trump's support for cryptocurrencies and the prospect of supportive cryptocurrency lawmakers appearing in Congress, Bitcoin broke through the $80,000 mark, setting a new historical high. As of the time of writing, it was at $81,635, with a cumulative increase of over 18% in the past week. Ethereum reported $3,207, with a cumulative increase of over 30% in the past week. Altcoins collectively surged, with gains generally exceeding the broader market, boosting market sentiment.
In terms of foreign exchange commodities, the US dollar index rose last week, accumulating a 0.6% increase over six consecutive weeks, while non-US currencies were generally under pressure. Oil prices fluctuated significantly over the week; at the beginning of the week, OPEC+ issued a statement again delaying production increases, leading to a substantial rise in oil prices. However, US EIA crude oil supplies reached a new high since August, dragging down the overall weekly oil price increase, with Brent crude rising 1.09% over the week. Spot gold fell 1.85% over the week due to the strengthening dollar and the Federal Reserve hinting at an open attitude towards pausing interest rate cuts.
With the US elections concluded, investors will next turn their attention to the outlook for monetary policy and corporate earnings performance, continuing to assess the impact of Trump's policy expectations. Many Federal Reserve officials will speak this week, while the latest US CPI data, PPI data, and retail sales figures will serve as important references for investors to judge the health of the US economy and the magnitude of potential interest rate cuts by the Federal Reserve in 2025. eeee.com is a financial trading platform supporting assets such as cryptocurrencies, stock indices, bulk gold, and foreign exchange, recently launching a USDT stablecoin financial product with an annualized yield of 5.5% to provide investors with potential hedging options. 4E reminds you to be aware of market volatility risks and to allocate assets reasonably.
