📈 Stocks / Finance

US Bank CEOs Expect Rebound in Loan Demand

Reuters

At a New York conference, US bank CEOs, including Bank of America's Brian Moynihan and KeyCorp's Christopher Gorman, expressed optimism about upcoming M&A deals and consumer finances. With falling interest rates and a pro-business administration, banks anticipate rising loan demand.

S&P 500 Struggles Amid Rate Cut Speculation

Yahoo Finance

The S&P 500's gains faded as mixed signals emerged regarding future Fed rate cuts. Shorter-term Treasuries rallied while swap traders saw an 80% chance of a December cut. Inflation data matched expectations, but Fed officials expressed uncertainty over how much further rates should be reduced.

AST SpaceMobile Shares Surge Amid Analyst Upgrades

MarketBeat

Shares of AST SpaceMobile (ASTS) rose 24.7%, reaching $30.25, driven by multiple analyst upgrades. Deutsche Bank raised its target to $63, while Scotiabank and UBS raised theirs to $45.90 and $30, respectively. ASTS's recent earnings beat estimates, reporting a loss of $0.14 per share vs. expected $0.19.

🪙 Crypto

Dogecoin Surges as Trump Announces "DOGE" Efficiency Department

CNBC

Dogecoin spiked 20% after President-elect Trump announced the Department of Government Efficiency, referred to as "DOGE." The memecoin gained 153% post-election, surpassing bitcoin's 30% rise. Elon Musk and Vivek Ramaswamy will lead the new department, targeting federal efficiency.

🌎 Global Economy

Trump's Economic Agenda Risks Global Growth, ECB's Villeroy Warns

Reuters

Bank of France Governor Francois Villeroy de Galhau warns that Trump's proposed tariffs could raise inflation in the U.S. and hurt global growth. He predicts U.S. consumers will face reduced purchasing power, emphasizing that 'protectionism almost always means reduced purchasing power'.

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