Dubai Telegraph - Equities rise as traders weigh Trump 2.0, rate cut prospects

EUR -
AED 3.96514
AFN 73.409752
ALL 98.644003
AMD 418.034594
ANG 1.945075
AOA 985.095023
ARS 1072.79979
AUD 1.618389
AWG 1.945892
AZN 1.837308
BAM 1.961928
BBD 2.179106
BDT 128.972844
BGN 1.955713
BHD 0.406969
BIF 3125.30292
BMD 1.079552
BND 1.431819
BOB 7.484099
BRL 6.166075
BSD 1.079271
BTN 91.06306
BWP 14.409474
BYN 3.531999
BYR 21159.218387
BZD 2.175414
CAD 1.496189
CDF 3092.916321
CHF 0.942235
CLF 0.037465
CLP 1033.768578
CNY 7.710271
CNH 7.685649
COP 4671.13496
CRC 551.412109
CUC 1.079552
CUP 28.608127
CVE 113.419839
CZK 25.260446
DJF 191.857748
DKK 7.458004
DOP 65.258909
DZD 144.142828
EGP 53.189415
ERN 16.193279
ETB 131.219373
FJD 2.416794
FKP 0.82604
GBP 0.831962
GEL 2.941797
GGP 0.82604
GHS 17.710092
GIP 0.82604
GMD 77.150714
GNF 9317.613211
GTQ 8.329016
GYD 225.786875
HKD 8.389743
HNL 27.035399
HRK 7.437066
HTG 141.982163
HUF 404.734938
IDR 16804.143854
ILS 4.016144
IMP 0.82604
INR 91.002289
IQD 1414.213066
IRR 45454.534623
ISK 148.28762
JEP 0.82604
JMD 170.803501
JOD 0.765726
JPY 165.19088
KES 139.262229
KGS 93.057135
KHR 4393.776975
KMF 492.221943
KPW 971.596519
KRW 1494.75304
KWD 0.331055
KYD 0.899376
KZT 530.47728
LAK 23679.972611
LBP 96673.878007
LKR 315.784646
LRD 204.412873
LSL 19.043336
LTL 3.187636
LVL 0.65301
LYD 5.230454
MAD 10.677871
MDL 19.35574
MGA 4987.530126
MKD 61.530267
MMK 3506.34265
MNT 3668.317585
MOP 8.639866
MRU 43.090331
MUR 50.145599
MVR 16.624536
MWK 1874.102624
MXN 21.457928
MYR 4.753806
MZN 68.988758
NAD 19.043356
NGN 1815.298696
NIO 39.700505
NOK 11.726055
NPR 145.700695
NZD 1.793233
OMR 0.415638
PAB 1.079231
PEN 4.066137
PGK 4.332512
PHP 62.875804
PKR 300.000733
PLN 4.314363
PYG 8377.088066
QAR 3.930487
RON 4.975976
RSD 116.995252
RUB 105.796062
RWF 1468.190664
SAR 4.054929
SBD 8.996891
SCR 15.206543
SDG 649.340799
SEK 11.558004
SGD 1.426342
SHP 0.82604
SLE 24.504136
SLL 22637.661342
SOS 616.424282
SRD 37.735759
STD 22344.545935
SVC 9.443497
SYP 2712.406972
SZL 19.043675
THB 36.73704
TJS 11.472208
TMT 3.789227
TND 3.353358
TOP 2.528416
TRY 36.975953
TTD 7.320663
TWD 34.67416
TZS 2903.994994
UAH 44.619769
UGX 3961.373269
USD 1.079552
UYU 44.870151
UZS 13818.265295
VEF 3910733.683427
VES 47.199466
VND 27382.835428
VUV 128.16661
WST 3.024024
XAF 657.987832
XAG 0.032004
XAU 0.000397
XCD 2.917543
XDR 0.809198
XOF 659.069514
XPF 119.331742
YER 269.699096
ZAR 18.683649
ZMK 9717.278915
ZMW 29.24727
ZWL 347.61529
  • RIO

    2.3200

    67.65

    +3.43%

  • CMSC

    0.1200

    24.63

    +0.49%

  • SCS

    -0.1100

    12.95

    -0.85%

  • RBGPF

    2.1700

    63.17

    +3.44%

  • BTI

    -0.1500

    35.49

    -0.42%

  • CMSD

    0.0430

    24.893

    +0.17%

  • NGG

    -0.2300

    63.89

    -0.36%

  • RYCEF

    -0.2300

    7.15

    -3.22%

  • GSK

    0.6100

    36.51

    +1.67%

  • RELX

    -0.1050

    47.605

    -0.22%

  • BCE

    -0.9200

    27.82

    -3.31%

  • AZN

    0.4800

    64.33

    +0.75%

  • BCC

    -0.0800

    141.68

    -0.06%

  • VOD

    -0.0250

    9.285

    -0.27%

  • JRI

    0.1410

    13.391

    +1.05%

  • BP

    0.0450

    30.205

    +0.15%

Equities rise as traders weigh Trump 2.0, rate cut prospects
Equities rise as traders weigh Trump 2.0, rate cut prospects / Photo: Mandel NGAN - AFP/File

Equities rise as traders weigh Trump 2.0, rate cut prospects

Major stock markets mostly rose Thursday following Donald Trump's election win that is set to see the returning president unveil US tax cuts and import tariffs.

Text size:

The dollar retreated after surging Wednesday on news of Trump's win, while bitcoin came off record highs.

Wall Street stocks surged to all-time records Wednesday after it emerged the tycoon would return to the White House having beaten his Democratic rival Kamala Harris.

The S&P 500 and Nasdaq Composite continued rising Thursday with investors looking towards the Federal Reserve interest rate announcement later in the day, while the Dow wobbled.

"With a 25-basis-point rate cut fully priced in, the focus will shift to the Fed's tone on future cuts," said City Index and FOREX.com analyst Fawad Razaqzada.

"If the Fed hints at slowing rate cuts in response to Trump's pro-growth policies, bond yields could remain elevated, potentially cooling investor enthusiasm for stocks in the short term," he said.

"For now, markets are still buzzing from the post-election rally, but as the initial excitement fades, a pullback may be in the cards."

Trump's decisive win is expected to pave the way for a series of business-friendly measures such as tax cuts and deregulation, though analysts warn that such moves -- along with the pledge to impose import duties -- could relight inflation.

The prospect of higher inflationary pressure could complicate matters for Fed boss Jerome Powell.

Earlier, the Bank of England (BoE) announced a widely expected 25-basis-point cut, its second reduction since August, as inflation in Britain fell below its target rate.

Sweden's central bank also dropped borrowing costs by 50 basis points, its biggest reduction in a decade, while Norway made no change.

Frankfurt stocks rose by 1.7 percent as the conservative opposition heaped pressure on Chancellor Olaf Scholz's crisis-hit government to allow for speedy elections by calling a confidence vote next week rather than in 2025.

Christian Democrats chief Friedrich Merz made the demand after Scholz's three-party coalition imploded Wednesday over the 2025 budget and fiscal policy.

In Asia on Thursday, Chinese stocks rallied as investors brushed off concerns that China in particular would be the target of Trump's tariffs.

Bitcoin traded close to $75,700, having touched a new high close to $76,475 Wednesday.

Ahead of his election win, Trump pledged to make the United States the "bitcoin and cryptocurrency capital of the world".

- Key figures around 1630 GMT -

New York - Dow: DOWN less than 0.1 percent at 43,707.86 points

New York - S&P 500: UP 0.6 percent at 5,963.76

New York - Nasdaq Composite: UP 1.3 percent at 19,221.36

London - FTSE 100: DOWN 0.3 percent at 8,140.74 (close)

Paris - CAC 40: UP 0.8 percent at 7,425.60 (close)

Frankfurt - DAX: UP 1.7 percent at 19,362.52 (close)

Tokyo - Nikkei 225: DOWN 0.3 percent at 39,381.41 (close)

Hong Kong - Hang Seng Index: UP 2.0 percent at 20,953.34 (close)

Shanghai - Composite: UP 2.6 percent at 3,470.66 (close)

Euro/dollar: UP at $1.0786 from $1.0732 on Wednesday

Pound/dollar: UP at $1.2982 from $1.2880

Dollar/yen: DOWN at 153.17 yen from 154.62 yen

Euro/pound: DOWN at 83.09 pence from 83.30 pence

West Texas Intermediate: DOWN 0.2 percent at $71.57 per barrel

Brent North Sea Crude: DOWN 0.2 percent at $74.81 per barrel

burs-rl/giv

O.Mehta--DT