On December 27, 2024, the Treasury and IRS released final regulations for decentralized finance (DeFi) participants, narrowing the definition of “digital asset middlemen” to non-custodial brokers like DeFi exchanges. The regulations, effective from January 1, 2027, do not exempt DeFi participants from backup withholding obligations and provide transitional relief from reporting penalties. A complaint filed by three DeFi groups challenges the regulations, highlighting ongoing tensions between the DeFi industry and the IRS.
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0 in Finance and 0 in Crypto last week
Stock Market Rises as Trump Administration Begins and Cathie Wood Invests in AI
The Dow Jones Industrial Average rose nearly 300 points, buoyed by optimism surrounding the new Trump administration, while Apple lagged with a 3% drop. Small caps and sectors like utilities and real estate showed strength, with Cathie Wood’s ARK Invest making significant moves in AI stocks despite risks. China stocks experienced mixed results amid hopes for improved U.S.-China relations, while Trump hinted at potential tariffs on Canada and Mexico.
read moreMichael Burry’s 2024 Stock Market Predictions: Gains and Uncertainties
Michael Burry’s stock market predictions for 2024 have yielded mixed results. His investment in the luxury retailer RealReal has surged over 300%, while his stakes in Chinese giants Alibaba and JD.com have performed well, despite some uncertainty regarding recent selling. However, his position in Baidu has struggled, with shares down approximately 25% this year.
read moreUS Stocks Rise as Netflix Earnings Beat Expectations and Gold Prices Surge
US stocks rose on Friday, led by the tech sector, as Netflix’s earnings surpassed expectations, boosting its shares by over 9%. The Nasdaq Composite gained approximately 0.5%, while the S&P 500 added 0.3%. Meanwhile, gold prices reached a record high amid geopolitical tensions and economic uncertainty.
read moreUS Stock Futures Rise as Netflix Reports Strong Earnings
US stock futures rose on Friday, led by tech, as Netflix reported strong earnings, boosting its shares over 6% in premarket trading. The Nasdaq 100 futures increased by 0.4%, while S&P 500 futures added 0.2%. Meanwhile, gold prices reached a record high amid geopolitical tensions and economic uncertainty.
read moreDow Hits Record High as Inflation Cools and Markets Rally
Stocks closed the week strong, with the Dow hitting a fresh record, gaining 0.3%, while the S&P 500 dipped 0.1% and the Nasdaq fell 0.4%. A cooling inflation report and solid GDP readings bolstered confidence in a potential “soft landing” for the economy, with over 52% of traders anticipating a 50 basis point rate cut from the Fed next month.In China, stimulus measures led to significant market gains, with mainland stocks achieving their largest weekly increase since 2008, and luxury stocks benefiting from rising demand expectations. Major companies like Alibaba, JD.com, and Meituan saw substantial stock surges amid this buying spree.
read moreStock Market Gains as Inflation Cools and Rate Cut Bets Rise
Stocks traded mixed as the Dow rose 0.7% and the S&P 500 gained 0.1%, buoyed by a cooling inflation report that increased expectations for a significant interest rate cut by the Federal Reserve next month. The core Personal Consumption Expenditures index showed a 0.1% month-over-month increase, below forecasts, reinforcing confidence in a “soft landing” for the economy. Meanwhile, China’s stimulus measures boosted its markets, leading to significant gains for luxury stocks and companies like Alibaba and JD.com.
read moreChina Implements Stimulus Measures Boosting Stocks and Commodities Markets
China has introduced significant monetary and property-market stimulus measures, including a 50-basis-point cut in the reserve ratio and a reduction in mortgage rates, aimed at revitalizing its struggling economy. This has sparked a stock market rally, benefiting companies like Alibaba, JD.com, and Nio, while boosting copper and aluminum prices, which in turn supports firms like Freeport-McMoRan and Alcoa. Economists view these moves as the most aggressive since the end of China’s zero-Covid policy, with potential positive implications for global markets.
read moreReasons to Consider Investing in PDD Stock Today
PDD Holdings, a leading Chinese e-commerce company, has seen its stock price surge 80% over the past year, outpacing competitors like Alibaba and JD.com. With a remarkable 80% CAGR in revenue from 2018 to 2023 and a projected 38% growth through 2026, PDD’s profitability is also on the rise, with net income expected to grow at a CAGR of 47%. Unlike Alibaba, PDD faces fewer regulatory challenges, and its stock is trading at a low multiple of 13 times earnings, making it an attractive investment option.
read moreStock Futures Steady as Wall Street Eyes Weekly Gains
Stock futures are slightly lower as Wall Street aims to extend a winning week, with the Dow down 26 points and S&P 500 futures losing 0.1%. Applied Materials shares fell 1.8% despite beating earnings expectations, while JD.com rose 3% after a strong revenue report. Estee Lauder slipped nearly 2% following a downgrade from Bank of America due to challenges in the China market. European markets opened higher, with Germany’s DAX up 0.28% and France’s CAC 40 gaining 0.15%.
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