Finance News
Today, Asian shares are mostly up following a new set of record highs on Wall Street.
Today, the stock market in Asia is seeing mostly positive gains following another round of record highs on Wall Street.,
On Friday, Asian shares mostly traded higher in quiet holiday trading, with markets closed in Hong Kong, Sydney, Singapore, and India. Many financial markets were closed for Good Friday, while in India, markets were closed for the Holi holiday.
The Nikkei 225 in Tokyo rose 0.4% to 40,316.56, the Kospi in Seoul edged 0.1% higher to 2,748.55, and the Shanghai Composite index gained 0.5% to 3,025.56. Taiwan’s Taiex advanced 0.4%, and in Bangkok, the SET added 0.3%.
Oil prices saw a jump, with U.S. benchmark crude oil gaining $1.82 to $83.17 per barrel and Brent crude surging $1.59 to $87.00 per barrel in electronic trading on the New York Mercantile Exchange.
The U.S. dollar slipped to 151.30 Japanese yen from 151.38 yen, while the euro edged lower to $1.0775 from $1.0790.
Stock markets have been on a strong run, with the S&P 500 and Dow Jones Industrial Average setting records. The Nasdaq composite saw a slight dip. Oil prices surged, with U.S. benchmark crude oil gaining $1.82 to $83.17 per barrel. The U.S. dollar slipped against the yen and euro.
Amidst the market activity, companies like Nvidia and Super Micro Computer saw significant gains, while others, like Tesla and Boeing, faced challenges. The U.S. economy showed stronger growth than expected, with solid job market indicators. The Federal Reserve is expected to cut interest rates later this year.
Despite overall optimism, concerns remain about inflation and the pace of stock market growth. Analysts urge caution and emphasize the need for companies to deliver solid profits to justify market moves.
Specific company updates include RH reporting weaker profit and revenue than expected but indicating an upward trend in demand, and Chemours reporting better-than-expected results. Trump Media & Technology Group saw a decline after significant gains, driven by enthusiastic investors.
FAQ:
Q: Why did the U.S. stock market set records?
A: The market has been performing well amidst strong economic indicators and expectations of interest rate cuts.
Q: Which companies saw significant gains?
A: Nvidia and Super Micro Computer experienced notable increases in stock value.
Q: What challenges did companies like Tesla and Boeing face?
A: Tesla saw a significant decline in stock value, while Boeing faced safety and manufacturing quality concerns.
Q: What factors are influencing the Federal Reserve’s decision on interest rates?
A: The Fed is monitoring inflation and economic growth to determine the timing of rate cuts.
‘Shark Tank’ investor Kevin O’Leary joins ‘Fox & Friends’ to discuss Elon Musk and Vivek Ramaswamy leading DOGE, Trump’s potential appointments for Treasury secretary, and the first-ever crypto czar.
Weighing in on rumblings around a potential Trump-appointed crypto czar, popular entrepreneur Kevin O’Leary called on whoever’s nominated to put an end to regulatory indecision.
“We’ve got to stop these shenanigans because this is a technology that affects all 11 sectors of the economy,” O’Leary said Thursday on “Fox & Friends.”
“It provides efficiency and digital payment systems. And we have to be competitive worldwide.”
According to industry sources familiar with the discussions, President-elect Trump is mulling a position dedicated solely to cryptocurrency policy. It’s unclear whether the role would be a czar type or a White House staff role, but the official holding the position would interact with regulators, including the Securities and Exchange Commission and the Commodity Futures Trading Commission.
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Two names that come to O’Leary’s mind are former acting U.S. Comptroller of the Currency Brian Brooks and Coinbase CEO Brian Armstrong.
Kevin O’Leary put pressure on a potential Trump-nominated crypto czar to start making regulatory decisions as soon as possible. (Getty Images)
“Brian, of Coinbase, he’s being sued by [SEC Chair Gary] Gensler right now. His company is under litigation from the SEC,” the O’Leary Ventures CEO noted.
“We need a czar here, and we need to start making decisions. Is Ethereum a commodity, or is it a security? Pick one and go with it. I don’t care which one it is, but we’ve got to at least pick it,” he added. “We haven’t done that yet.”
‘Making Money’ host Charles Payne discusses the history of money.
The president-elect campaigned heavily among pro-crypto voters, making a stop at crypto bar PubKey in New York City and speaking at the Bitcoin 2024 conference in Nashville, Tennessee, just weeks before Election Day.
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Manward Press chief investment strategist Shah Gilani discusses how high the S&P 500 can climb in 2025 on ‘Making Money.’
Bitcoin, the largest cryptocurrency by market value, touched a new all-time high of $94,000 in afternoon trading Wednesday and has advanced over 156% from its 52-week low of $36,815.63 in November 2023, as tracked by Dow Jones Market Data Group.
iShares Bitcoin ETF Trust
The surge in price has lifted crypto exchange-traded funds, driving the assets of the largest, iShares Bitcoin Trust, to over $40 billion and lifting it to a record high.
Other bitcoin ETFs are also seeing high interest.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BTC | GRAYSCALE BITCOIN MINI TRT ETF BITCOIN MINI TRUST BTC ETF | 43.34 | +1.50 | +3.59% |
| GBTC | GRAYSCALE BITCOIN TRUST ETF – USD ACC | 77.62 | +2.63 | +3.51% |
| FBTC | FIDELITY WISE ORIGIN BITCOIN FUND – USD ACC | 85.42 | +2.88 | +3.48% |
| ARKB | ARKB – ARK 21SHARES BITCOIN ETF – USD ACC | 97.54 | +3.24 | +3.44% |
FOX Business’ Suzanne O’Halloran contributed to this report.
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Finance News
Ford recalls nearly 25,000 trucks for problem that could make rearview camera malfunction
‘Car Wizard’ David Long joins ‘The Big Money Show’ to share his top ‘no-brainer buys’ under $10,000.
Ford is recalling nearly 25,000 trucks because of a problem that could make the rearview camera system malfunction.
The automaker said water “may enter the Tailgate Park Assist Sensor Interface Module” and lead to a malfunction of the rearview camera image display in 24,950 of its 2023-2024 F-250, F-350 and F-450 trucks.
All the potentially affected trucks feature a tailgate top camera that “provides additional camera images when the tailgate is down and is a separate camera from the primary rear-view camera,” Ford said in a Oct. 25 recall report submitted to the National Highway Traffic Safety Administration (NHTSA).
A 2023 Ford Super Duty F-350 Limited. (Ford Motor Co. / Fox News)
The recall report indicated the problem stemmed from “certain mating interfaces” of the tailgate top camera being “out of tolerance” and the camera bracket “retain[ing] water” during the application.
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In the event that the issue occurs, the rearview camera image may show up as “blue or black” or only work “intermittently,” things that could pose a safety issue due to reduced driver visibility, according to the report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 10.24 | -0.04 | -0.39% |
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It has not led to any known accidents or injuries, Ford said in another document.
A badge on a vehicle at a Ford dealership in New Lebanon, New York, on Jan. 25. (Angus Mordant/Bloomberg via Getty Images / Getty Images)
According to the recall report, owners of the recalled trucks can get their tailgate top camera, wire harness and TPASIM module swapped out at a Ford or Lincoln dealership for free. Their “Image Processing Module A” will receive a software update too, it said.
“Pick-up and delivery will be available at participating dealerships,” a Ford spokesperson told FOX Business. “We’re also working through other potential options that would make completing this recall as convenient as possible for our customers.”
FORD RECALLS 144,500 MAVERICK TRUCKS DUE TO REARVIEW CAMERA DISPLAY ISSUE
Affected Ford F-250, F-350 and F-40 owners can expect to see a recall notification letter in their mailboxes in early December.
Ford said early last month it has sold over 853,400 of its various types of trucks in the U.S. so far this year.
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