📈 Stocks / Finance

Wall Street Retreats Amid Inflation Concerns

Reuters

Major U.S. indexes dipped as investors took profits after a post-election rally. Dow fell 0.86%, S&P 500 dropped 0.29%, and Nasdaq slipped 0.09%. Rising Treasury yields created headwinds, while inflation worries linked to Trump's policies added pressure, impacting global markets.

Gold dips as post-Trump dollar rallies

Mining

Gold dropped to a near two-month low at $2,595.98/oz, driven by a strengthening dollar post-election. Futures fell 0.6% to $2,601.50/oz. A break below the 50-day moving average led funds to exit long positions, while inflation concerns could still support gold's longer-term outlook.

Lucid's losses remain staggering despite improved sales figures.

Seeking Alpha

Lucid Group's Air Sapphire impresses but struggles to sell lower-end models, resulting in massive losses. Q3 2024 saw nearly $1B in losses and a cash burn of $310M/month. Despite beating revenue estimates, Lucid's share count has doubled since 2021, eroding its stock price by 97%.

🪙 Crypto

Bitcoin Faces Resistance at $90K

CoinTelegraph

Bitcoin traders are struggling to maintain a hold above $90,000 as sell orders create resistance at key levels. A significant sell block at $90,000, along with additional asks at $91,150, are keeping the price in check, with traders aiming to liquidate shorts up to $93,000.

🌎 Global Economy

Development Banks Set $120 Billion Climate Finance Goal by 2030

Reuters

Multilateral development banks committed to raising annual climate finance for low- and middle-income countries to $120 billion by 2030, a 60% increase. The plan includes $42 billion for extreme weather adaptation, with $65 billion expected from the private sector annually.

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