BlockBeats reports that on December 2, the rise of the 'Trump trade' in November became a dominant factor driving global market trends. According to 4E monitoring, all three major US stock indices rose last week, with weekly increases exceeding 1%. In November, the Dow Jones increased by 7.5%, and the S&P by 5.7%, both achieving the largest single-month increase this year. The Nasdaq accumulated an increase of over 6%, with major tech stocks rising broadly; Tesla's cumulative increase in November exceeded 38%, marking its best performance in nearly two years, while Nvidia's cumulative increase this year reached 179.23%. Year-to-date, the S&P 500 index has risen by over 27%, compared to a 24% increase last year, leading to differing views on the outlook for US stocks.
The performance of the cryptocurrency market in November was outstanding, attracting widespread global attention. Bitcoin's monthly increase exceeded 37%, while Ethereum's increase reached as high as 54%. Altcoins experienced significant rises at the end of the month, with market share continuously expanding. Bitcoin's market share has dropped by 8.15% since the peak of this bull market (November 21, 61.78%). The total market value of altcoins rose nearly 70% in November. Historical data shows that Bitcoin has significant monthly increases in December during half-year reductions, combined with the fact that most members of Trump's cabinet are cryptocurrency investors, leading to strong bullish sentiment in the market.
In terms of major foreign exchange, the dollar fell 1.67% last week, ending an eight-week streak of gains, with an accumulated increase of 1.72% in November. The 'Trump trade' boosted the dollar in November, hindering the rise of gold and triggering a sell-off after the election. Spot gold fell about 3.7% in November, marking the largest monthly decline since September of last year. Oil prices continued to decline last week, with a weekly drop of over 3%.
In the past few weeks, investors have focused on Trump's various economic policies, but at the same time, the changes in expectations for interest rate cuts by the Federal Reserve have also been quite subtle. Although the market expects an increased probability of further rate cuts in December, the space for rate cuts in 2025 is continuously decreasing. The behind-the-scenes 'near increases and far decreases' largely reflects anxiety about future inflation re-emerging under Trump's administration. Powell's speech on Thursday and the non-farm payroll data on Friday will largely set the tone for year-end rate cuts.
eeee.com is a financial trading platform that supports assets such as cryptocurrencies, stock indices, precious metals like gold, and foreign exchange. Recently, it launched a USDT stablecoin financial product with an annualized return of 5.5%, providing investors with potential hedging options. 4E reminds you to pay attention to market volatility risks and to allocate assets wisely.
