Bitcoin stays above 94,000: Wall Street holds its breath before Nvidia figures

Bitcoin remains above 94,000
Wall Street is holding its breath because of Nvidia’s numbers

November 20, 2024, 11:04 p.m

Listen to article

The prospect of the coming Trump administration continues to keep Wall Street happy: Bitcoin is rushing from record to record. The papers from health insurers are also very popular. Otherwise, investors are looking forward to Nvidia’s numbers.

The tense situation in Ukraine is making US investors nervous. Although the three most important indices initially fell on Wednesday, they recovered over the course of the day. The US Standard Value Index Dow Jones Finally gained 0.3 percent to 43,408 points. The technology-heavy one Nasdaq On the other hand, it was barely changed at 18,966 points and the broad one S&P 500 also stood on the spot with 5917 points.

“More attacks are occurring between Ukraine and Russia and market participants don’t know what to make of them. Tensions are increasing instead of decreasing,” said Dennis Dick, trader at Triple D Trading. Despite the government’s threats in Moscow, Ukraine has also used British long-range weapons against targets in Russia for the first time. It was only on Tuesday that the Ukrainian army attacked targets in Russia with US missiles for the first time. The government in Moscow sees the permission to use long-range Western weapons on Russian territory as an escalation and has implemented the planned tightening of its nuclear doctrine. The head of Russia’s foreign intelligence service, Sergei Naryshkin, announced that retaliation would be made against NATO countries that allowed attacks with long-range Western weapons on Russian territory.

He won on the equipment market US dollar indexwhich measures the US currency against other important currencies, half a percent to 106.66 points. In addition to the geopolitical tensions, investors are kept on tenterhooks by the question of the political plans of US President-elect Donald Trump and who should become US Treasury Secretary. What is crucial for the markets is the extent to which the country’s unconventional economic policy can be expected under the new minister, said foreign exchange expert Volkmar Bauer from Commerzbank. “So in the short term, appointing a Wall Street representative should reassure equipment traders.”

Investors are also concerned with the question of how sustainable the hype around the topic of artificial intelligence (AI) will be on the stock exchanges. However, the quarterly figures of the AI ​​chip specialist Nvidia were only published after the stock market closed: With a sales increase of 94 percent to $35.1 billion, the stock market heavyweight exceeded analysts’ expectations.

Target crash

The record hunt at Bitcoin However, the cryptocurrency with the highest turnover gained up to three percent to a high of $94,982.37 and thus established itself above the $94,000 mark reached on Tuesday evening. At the end of Wall Street, Bitcoin was up 2.2 percent. “The key catalyst for the rally is and remains the prospect of a crypto-friendly US head of state,” said Timo Emden from the analysis house Emden Research.

The individual values, among other things, provided something to talk about Goal with a price drop of 21.4 percent. The US retail group earned less in the third quarter and reduced its annual targets due to the poor prospects for Christmas business. The title of the rivals Dollar General and Dollar tree lost 4.2 and 2.6 percent in its wake.

They also flew out of the depots ford with a minus of 2.9 percent. The automobile company is cutting thousands of jobs in Europe. Around 4,000 jobs will be eliminated by the end of 2027, including 2,900 in Germany and 800 in Great Britain, as the company announced on Wednesday.

On the other hand, the shares of health insurance companies were surveyed. The papers from Humana, UnitedHealth, CVS and Centene won between 1.9 and 5.8 percent. Trump had nominated television star surgeon Mehmet Oz to head the state health insurance programs in the USA. Oz had promoted the Medicare Advantage program on his television talk show, which aired between 2009 and 2022. According to experts, his support for expanding Medicare Advantage plans is also positive for the industry.

You can read everything else about today’s stock market events here.