Mixed trend on Wall Street: General Motors falls 7%

Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations

17:21

The auto industry could be hurt by incoming President Donald Trump’s tariff plan. And one of the victims today is General Motors which decreases by about 7%. The customs may lead to an increase in car prices. Another stock that is falling sharply is the stock of the electric car manufacturer Neo .

Trump stated that as a first step in his term he would sign a presidential order to impose tariffs on China, Canada and Mexico – the three main trading partners of the USA. An additional 10% tariff will be imposed on China, and approximately 25% tariffs on Canada and Mexico. According to him, the tariffs will only be removed when The countries will work to eradicate drug smuggling and illegal immigration.

16:58

Mixed trend on Wall Street. The Nasdaq is up 0.4%, the S&P 500 is up 0.2% and the Dow Jones is down 0.4%.

Oil prices are up about 1.5% today, after Brent oil fell by almost 3% to $73 a barrel yesterday, following reports of a possible cease-fire agreement between Israel and Hezbollah.

“The conflict in the Middle East has not yet led to disruptions in the supply of oil to the market,” noted Karsten Fritsch, Commodity Analyst at Commerzbank, “however, a ceasefire may also calm the ongoing tensions between Israel and Iran, which has the potential to disrupt the supply of oil. The fears of supply disruptions due to the escalation The war in Ukraine raised oil prices by 6% last week, the sharpest weekly increase since then The Iranian missile attack on Israel in early October.”

16:31

Trading on Wall Street opened in the afternoon with a mixed trend. The Nasdaq is up 0.3%, the S&P 500 is up 0.2% and the Dow Jones is down slightly from the record it set yesterday, by 0.3%.

Bitcoin posted its longest losing streak since Donald Trump’s victory in the US presidential election, after a failure to break the $100,000 mark cooled the speculative enthusiasm generated by the president-elect’s support for cryptocurrencies. Four consecutive days of declines offset about 8% of the value of the digital asset, which traded at $92,500 Tuesday morning in New York. The crypto market is losing some of its $1 trillion gain since Election Day on November 5.

The difficulty of trying to break the $100,000 mark for the first time “may convince traders that we have reached a peak and should now take profits,” wrote Noel Acheson, author of the Crypto Is Macro Now newsletter. However, she added that any such episode should be fleeting. “People were looking for an excuse to take some profits,” said Adrian Prazlozhny, CEO of the Independent Reserve crypto exchange. “We are still confident that the current bullish trend in the market will continue until 2025.”

15:52

The Cantor Investment Bank is starting to survey its shares Cornit Digital With an “excess yield” recommendation and a target price of $39, which is 22% higher than the current price on Nasdaq. Kornit is a manufacturer of digital printing systems for textiles.

The bank’s technology industry analyst, Troy Jensen, estimates that the company is in a good position in the transition process of brands and retailers to shorter supply chains in accordance with changes in consumer tastes. According to him, Kornit is expanding its market penetration and producing more visibility and less volatility. Cornit shares have risen by 70% since the beginning of the year.

15:04

The surge in the price in the last period has stopped and now it is down about 6% to the level of 92 thousand dollars.

Biolius Bar for the trend: “Since the elections in the USA, we repeat that no significant limitations are expected on the way forward for Bitcoin. Although a short-term correction may be healthy and warranted after the impressive rise, the fundamentals remain solid. Demand is strong, with bitcoin-based exchange-traded funds (ETFs) reaching net flows of nearly $30 billion since their approval in January, and assets under management totaling $100 billion. Next year may again see supply pressure, like that which led to recent price increases, as demand exceeded supply. On the regulatory side, Gary Gensler’s announcement of his retirement as head of the US Securities and Exchange Commission strengthened the enthusiasm in the market. The creation of a strategic reserve for Bitcoin in the US is still a long way off, but if it materializes, the effects on the price may be significant.”

13:02

Auto stocks in Europe are down about 2% after US President-elect Donald Trump announced his intention to impose an additional 10% tariff on all products imported from China, according to a post published tonight on his social network, Truth Social. The post came immediately after his announcement that his first presidential order, when he takes office on January 20, will include tariffs of 25% on all products imported from Mexico and Canada – a move which will cancel the regional free trade agreement.

11:41

The declines in Europe continue. In the US, the futures trade in a mixed trend.

In the American debt market, government bond yields are rising slightly after falling last night (Monday). The 10-year yield is trading around 4.3%, and the two-year yield is at 4.27%.

10:32

The trading day in Europe is conducted by the hour with rates falling. The DAX is down 0.7%, the FTSE is down 0.5%, and the KAC is down 0.9%.

08:45

This morning in Asia, the main indexes are trading by the hour in a mixed trend. The Nikkei is down 1.3%, the Shanghai Stock Exchange is down 0.2%, the Hang Seng is up 0.1%, and the Kospi is down 0.6%.

Futures in the US are trading stable this morning.

Last night (Monday) on Wall Street, the trading day closed with price increases. The Nasdaq rose 0.3%, the S&P 500 closed at a similar rate, and the Dow Jones added about 1% to its value.

● The veteran investment manager who claims: “Wall Street will rise next year as well, by 8%-9%”

Against the background of the positive trend on Wall Street, investors seem to have been encouraged by the report published last Friday that President-elect Donald Trump announced that he had asked Scott Bessant, an executive at a hedge fund who raised a lot of money for his presidential election campaign, to serve as Treasury Secretary. In a statement regarding his election, Trump said that Besant “will help usher the United States into a new golden age.”

If Bessant’s nomination is confirmed by the Senate, he is expected to lead the fiscal policy of an economy that has experienced high inflation in recent years – an issue that remains high on the agenda of many voters who sent Trump back to the White House in the election earlier this month. Bessant will have to implement any tax cuts that Congress may make. choose. Trump proposes to apply aggressive tariffs on imports from countries around the world – the new Treasury Secretary will have to manage the relations with the various finance ministers, who may react applying their own tariffs.

Investors seem to have viewed Trump’s choice favorably and see Scott Bessant as a candidate who will support the stock market and may moderate Trump’s extreme economic policies.

In a recent opinion piece he wrote for the Wall Street Journal, Basant stated that he supports comprehensive tax reform and deregulation in order to encourage energy production and bank lending. According to him, the surge in the market after Trump’s election victory is a sign of investors’ expectations for “higher growth, lower volatility and inflation, and a renewed economy for all Americans.”

● Investor raked in more than a million dollars in late trading. Now everyone wants one too

The chip stocks gathered interest in trading last night (Monday):

Intel This increased by about 1.5% after it was reported that the chip maker is in talks with the US Department of Commerce to receive an 8 billion dollar grant through the CHIPS law of the Biden administration.

ARM rose by about 3% after UBS raised their recommendation on the stock to a ‘buy’ rating, and emphasized that the company is expected to benefit from growth in the field of artificial intelligence in end markets and data center businesses.

Super Micro Computer It jumped about 16%, and closed an increase of about 41% within 5 trading days following the positive momentum it recorded in the last two weeks. Against the background of the positive trend, the company, which produces artificial intelligence-based servers and cooperates with Nvidia, announced that it had hired a new accounting firm, BDO, following the resignation of the previous accountants, Ernst & Young, in October.

Ari Wald, the technical strategist at Oppenheimer, commented on the trend in the American stock market at the beginning of the last week of November. According to him, “the upward trend continues and strengthens, and at the same time the small-cap channels (small market value) have recently demonstrated a recovery. The Russell 2000 index reached its peak from three years ago, and the breaking of the historical resistance level should accelerate the upward trend among the small companies in the US.” Showald does not see at this stage strong signs of a reversal in the trend of leading the large stocks, he chooses to recommend the stocks of the small companies More selectively, with an emphasis on stocks with “strong momentum”.

In the American debt market, government bond yields fell last night (Mon): the 10-year yield fell by 15 basis points to its level of 4.26%, and the two-year yield fell by 10 basis points and stood at 4.26%.

In the commodities market, oil plunged about 3% last night in light of the reports of a ceasefire between Israel and Hezbollah. Crude oil fell to $70 per barrel. The price of a barrel of Brent oil weakened to $74 per barrel.

Barclays Bank raised the forecast for the S&P 500 index for the end of 2025 to 6,600 points, a 10% increase compared to the current index. This, following strong growth in the profits of the large technology companies, which are a major engine in the American stock market. The bank expects 11.5% growth in the companies’ earnings per share (EPS) and an improvement in macroeconomic conditions, with moderate but stable growth of 2.1% in 2025.

At the same time, they point out, disinflation and global pressures may weigh on non-technological sectors. Modest interest rate cuts and strong US consumer fundamentals are expected to support the market, while concerns about household financial distress appear overblown.