The US stock market was once again led by the seven tech giants, with Tesla, Alphabet, Amazon, and Apple all hitting new highs, driving the Nasdaq index to new records. The Trump trade is back in action! Bitcoin surged to a new all-time high of $107,793 yesterday. Tesla (TSLA) soared 6.14% to $463.02 per share.
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ToggleMarket Focuses on FOMC Rate Decision
The US Federal Reserve will hold its rate decision meeting on 12/17~12/18 this week, and Chair Powell will hold a press conference at 3 AM Taiwan time on 12/19.
According to the CME FedWatch index, 98.2% of investors expect the Fed to cut rates by 25 basis points this week, lowering the federal funds rate to 4.25~4.50%. However, the prospect of 2025 and the incoming Trump administration's threat of tariffs, which could trigger imported inflation, may make officials hesitant to take further action. The market currently expects only a double-digit rate cut next year, far from the quadruple-digit cut indicated in the September dot plot. The market will closely monitor the new dot plot and Chair Powell's post-meeting remarks to find clues about the path of interest rates next year.
Bitcoin 107K Hits New High, Tesla Surges 6%
The Trump trade is back in action! Bitcoin surged to a new all-time high of $107,793 yesterday. MicroStrategy, which bills itself as a Bitcoin development company, has officially been included in the Nasdaq 100 index, effective before the market open on December 23, but its stock price closed down 0.042% at $408.50 yesterday.
Reports indicate that the Trump transition team has recommended stopping the requirement for automakers to report data on autonomous driving accidents, and Tesla (TSLA) soared 6.14% to $463.02 per share. Mizuho believes that Tesla's autonomous driving software stack is progressing towards broad commercialization, and that a more lenient regulatory framework will provide upside potential in the autonomous driving space, raising Tesla's target price from $230 to $515.
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