📈 Stocks / Finance

Federal Reserve lowers interest rate amid recalibration effort

CNBC

The Federal Reserve cut its benchmark interest rate by 25 basis points to a target range of 4.50%-4.75%, citing a balanced approach between employment and inflation. The unanimous decision follows September's cut, with Chair Powell indicating a shift toward a less restrictive policy stance.

Lucid Reports Q3 Losses Amid Cost-Cutting and Expansion

CNBC

Lucid slightly outperformed Wall Street’s Q3 estimates, reporting $200M in revenue and a net loss of $992.5M, compared to $630.9M last year. Cost-cutting measures continue as Lucid expands operations, aiming to produce 9,000 vehicles this year. Liquidity stands at $5.16B.

US Banks to Gain From Looser Capital Rules Under Trump

Reuters

US banks are set to benefit as Trump returns to power, with expected relaxation of Basel III capital rules and merger scrutiny. Analysts suggest this could free up capital for lending and share buybacks, particularly favoring regional lenders looking to consolidate.

🪙 Crypto

Bitcoin Sets New Record Amid Trump-Fueled Rally

Investopedia

Bitcoin surged to nearly $77,000 following Donald Trump's presidential victory, breaking above a 'cup and handle' pattern. A measured move suggests a bullish target of $126,000. Key support levels to monitor are $70,000 and $53,000, with the latter critical if bulls fail to hold above $70,000.

🌎 Global Economy

Germany Names Jörg Kukies as Finance Minister Amid Political Turmoil

CNBC

Jörg Kukies replaces Christian Lindner as Germany's finance minister amid growing pressure for snap elections after the ruling coalition dissolved. Chancellor Olaf Scholz plans a confidence vote in January, but critics demand an expedited timeline. Kukies faces challenges, including finalizing the 2025 budget.

🗞️ Other Newsletters You Might Like

Essential stock market insights every day before the bell rings.