📈 Stocks / Finance

Super Micro shares fall amid tepid forecast, auditor resignation

Yahoo Finance

Super Micro's sales forecast missed analysts' expectations, predicting $5.5B-$6.1B versus an anticipated $6.79B. Ernst & Young's resignation and failure to file financials risk Nasdaq delisting. Preliminary Q1 sales were also below projections, leading to a 14% stock drop in extended trading.

Trump Media Stock Volatility on Election Day

CNN

Trump Media & Technology Group, owner of Truth Social, saw trading halted twice on Election Day after a 17% spike followed by a sharp drop. The stock ended down 1%, reflecting market uncertainty around Trump's election outcome. Despite losses, Trump Media has no debt and $673M in cash.

Gold rises amid US election uncertainty

Reuters

Gold prices edged up 0.2% to $2,740.96 per ounce as markets brace for potential election turmoil with Trump and Harris in a tight race. Commerzbank suggests gold could benefit if results are delayed, potentially reaching $2,800. Gold has risen nearly 33% year-to-date.

🪙 Crypto

Bitcoin Price Target Set at $120K Amid Bullish Momentum

CoinTelegraph

Analyst CoinLupin predicts Bitcoin could reach $120,000 as the MVRV ratio surpasses both 365-day and four-year averages, indicating an ongoing uptrend. With a ratio currently at 2, Bitcoin's market value is double its onchain value, suggesting potential further gains.

🌎 Global Economy

China Pledges Wider Market Access to Stabilize Global Economy

SCMP

Premier Li Qiang announced at the China International Import Expo that China will further open its market and introduce more fiscal stimulus to stabilize its economy. China's GDP growth slowed to 4.6% in the last quarter, below the 5% target, prompting monetary and property sector measures.

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