The Rundown Trump Signs Executive Order Promoting Crypto, Tesla Launches New Model Y
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Jan 24, 2025 President Trump made waves at the World Economic Forum with his discussion on cryptocurrency regulation, unveiling a new executive order. Meanwhile, excitement builds around Tesla's Model Y launch amid recent sales challenges. In the stock market, Novo Nordisk skyrocketed after promising drug trial results, while Twilio's stock surged on an optimistic profit forecast. Meanwhile, Boeing faced struggles with disappointing earnings, highlighting the turbulent landscape of the aviation sector and the dominance of major U.S. stocks.
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Market Update
- The stock market had its first record close of the year, with the S&P 500 jumping 0.5% to new highs.
- The Nasdaq also rose 0.2% and is now close to its all-time highs, indicating renewed investor confidence.
Trump's Davos Address
- Donald Trump's address at Davos included a demand for the Federal Reserve to lower interest rates, an unusual move.
- While the market expects the Fed to hold rates steady, Trump's comments put the upcoming Fed meeting in the spotlight.
Trump's Crypto Executive Order
- President Trump signed an executive order promoting the US as a leader in digital assets, including stablecoins.
- The order addresses regulatory frameworks and protections for crypto developers, miners, and self-custodians.