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S&P 500 And Dow Reach Record Highs With An Emphasis On Technology And Retail.
(VOR News) – Retail took centre stage as the Christmas shopping season began, but the S&P 500 and the Dow Jones Industrial Average also reached record closing highs during a brief Black Friday session. The outstanding performance of tech stocks like Nvidia was a major factor in this.
Manufacturers also contributed to the success of the blue-chip Dow and the benchmark S&P 500. These businesses are in the field of information technology.
Tesla had a 3.7% increase, while NVIDIA saw a 2% increase.
The reaction of consumers to the high Black Friday prices was widely observed by investors. Adobe Analytics predicted a 9.9% increase in consumer spending on online products, reaching a record $10.8 billion, compared to Black Friday the previous year.
The S&P 500 stocks of Macy’s and Target both increased 1.8%.
The S&P 500 index increased by 0.56% to reach 6,032.44 points after hitting an intraday record high of 6,025.42 points on November 26th. The Dow Jones Industrial Average is currently at 44,910.65 points, up 0.42%. The Nasdaq increased by 0.83% to 19,218.17 points.
“A significant amount of imports are handled by retailers. Ross Mayfield, an analyst at Baird, contends that “because inventory levels are very important to their profitability and ability to kind of control margins, they will be one of the industries that will be caught in the crossfire of tariffs.”
“But so far… (things are)… looking pretty solid for the Black Friday, Cyber Monday sale.”
The Philadelphia SE Semiconductor index increased 1.5% as chip makers recovered from Wednesday’s losses.
The performance of the small-cap Russell 2000 index increased by 0.4% as Treasury bond yields continued to fall from multi-month highs.
Wall Street’s major indices closed down on Wednesday, with the Nasdaq leading the decline. This resulted from concerns that the Fed could be hesitant to drop interest rates in response to the United States’ continuously high inflation figures, which had decreased on Thanksgiving Eve.
The most recent spike in the S&P 500 stock market was caused by Donald Trump’s victory in the US presidential election earlier this month. His Republican Party also gained majorities in both chambers of Congress as a result of this triumph.
The stock’s worth was determined by taking into account investors’ expectations that Trump’s pro-business policies would increase company profits and economic development. On the other hand, there was widespread worry that they could impact global economic growth, slow down the rate at which the Fed is reducing interest rates, and lead to inflation.
According to FedWatch, a publication of the CME Group, traders anticipate that the Fed will reduce borrowing costs by 25 basis points at its December meeting but will halt rate cuts in January.
S&P 500 bitcoin stocks jumped 1.9%, boosting MARA Holdings.
Following the US Food and Drug Administration’s decision to deny approval of Applied Therapeutics’ medication for the treatment of a rare genetic metabolic disorder, the company’s stock price fell 76%.
On the New York Stock Exchange, decliners were dominated by forward-moving products by a ratio of 2.46 to 1. There were 386 new highs and 63 new lows on the New York Stock Exchange.
The Nasdaq Composite hit 116 new highs during the same time period, while the S&P 500 saw 31 new 52-week highs overall and no new lows.
The volume of shares traded on American exchanges during a shortened trading week was 8.15 billion, significantly less than the average volume of approximately 15 billion shares moved during full sessions over the previous 20 trading days.
The S&P 500 index increased by 1.06%, the Nasdaq by 1.13%, and the Dow by 1.39% throughout the week. The Russell 2000 Small Cap index increased 1.48 percent after setting a record high earlier in the week.
SOURCE: USN
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Dr. Jordan Peterson Slams Trudeau Over Immigration Failures
One day, after meeting with President-elect Trump, Prime Minister Justin Trudeau was attacked by Canadian clinical psychologist Dr. Jordan Peterson over his failed immigration policies.
Dr. Peterson told Fox News that Prime Minister Justin Trudeau and his “demented minions” are to blame for Canada’s “broken” immigration system. Trudeau recently released a video on X blaming “bad actors” for taking advantage of immigration programs.
“[Trudeau’s] changing his tone because the policies that he put in place, which destroyed Canada’s immigration system and threw the borders wide open, upending decades of effective immigration policy, have caused a catastrophic crisis,” Peterson said.
“Now you can see that he is shifting the blame on educational institutions and bad corporate actors, and that’s exactly typical of him and his 14-year-old mentality,” he said.
“Everything that’s gone wrong on the immigration front in Canada is 100% attributable to Justin Trudeau and his pack of demented minions. The immigration problem has become so bad that he has to reverse course.
“Now, to see him flailing around, to find someone to blame is exactly as pathetic as you’d expect from someone like him.”
Trudeau took to X last month to acknowledge Canada’s immigration explosion and suggested he “could have acted quicker” to reign in the influx of migrants entering the country following the COVID-19 pandemic.
We’re making our immigration system work for Canadians and for newcomers — not the bad actors who exploit it.
Here’s how: https://t.co/cD8QbPAQ09 pic.twitter.com/LGqA2NSAli
— Justin Trudeau (@JustinTrudeau) November 25, 2024
Additionally, he placed some of the blame on bad actors for allegedly abusing the current immigration system.
“Immigration. Let’s talk about it,” he said. “In the last two years, our population’s grown really fast, like baby boom fast, and increasingly bad actors like fake colleges and big chain corporations have been exploiting our immigration system for their own interests.”
“So we’re doing something major. We’re reducing the numbers of immigrants that will come to Canada for the next three years,” he added.
Trudeau then explained why Canada will restrict its program for temporary foreign workers while lowering the number of permanent residents who can enter the country by up to 27% by 2027.
Pierre Poilievre, the Conservative leader of Canada, has also criticized Trudeau’s past immigration policies. In a recent podcast, he claimed that the prime minister is attempting to resolve a problem he helped create.
“Now, [Trudeau] is basically denouncing his entire immigration policy and expecting us to believe that he can fix the problems that he caused,” Poilievre stated.
“The bottom line is we have to fix our immigration, get back to the best system in the world, the one that brought my wife here as a refugee legally and lawfully, the one that brought so many people here to pursue the Canadian promise,” Poilievre said.
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Donald Trump Selects Loyalist Kash Patel to Lead the FBI.
(VOR News) – Running for president of the United States, Donald Trump, said in a statement posted on Saturday that he plans to name loyalist Kash Patel as the director of the Federal Bureau of Investigation (FBI).
The current head of the most significant agency, the Federal Bureau of Investigation (FBI), would be fired as part of this phase. This change would occur.
Known for his controversial beliefs on a government “deep state,” the former adviser and Pentagon officer, who has been critical of the bureau, was named Trump’s choice for the position on his Truth Social network.
Donald Trump himself announced his nomination.
Trump’s choice was announced to the public. Shortly after the message was released, the decision that Donald Trump had made was made known.
In 2017, Christopher Wray, the current director of the Federal Bureau of Investigation, was nominated for a ten-year term. In 2017, this nomination was made. This implies that he would either have to leave his position or face immediate termination of his employment.
Wray was chosen by Donald Trump to lead the Federal Bureau of Investigation (FBI), which is currently conducting an investigation against the incoming president.
Trump stated, “Kash is a brilliant lawyer, investigator, and ‘America First’ fighter who has spent his career exposing corruption, defending Justice, and protecting the American People,” in a statement posted on Truth Social. “Kash has spent his entire career fighting for America First.” “Kash has spent his entire career fighting for America First.”
Patel is a fervent advocate of the hardline Republican idea of an anti-Trump “deep state.” However, he has strong admiration for the incoming president.
According to reports, this so-called “deep state” is composed of biased government bureaucrats who are reportedly working behind the scenes to limit Donald Trump’s political impact. An even more remarkable achievement is that Patel has written a book on the topic.
The son of Indian immigrants, Patel served in several high-level positions throughout President Trump’s first term in office.
Patel is an employee of Donald Trump’s company.
Both of his parents emigrated to the US from India. To give an example of one of these roles, consider serving as the temporary defence secretary’s chief of staff. Serving as a national security advisor is another example of this.
Trump said that the nominee will commit herself to helping “end the growing crime epidemic in America, dismantle the migrant criminal gangs, and stop the evil scourge of human and drug trafficking across the Border.”
He also said that “Kash did an incredible job during my First Term.” Donald Trump acknowledged in his statement that Cash had done a great job during his first term. Trump’s statement was intended to acknowledge Cash’s performance during his first time in office, which was extraordinarily good.
When the president-elect called the Drug Enforcement Administration (DEA) the Drug Enforcement Agency, he was making a mistake. In another development, Florida sheriff Chad Chronister was nominated by President Trump to be the DEA’s administrator.
President Donald Trump said in a Truth Social article: “Chad will work with our great Attorney General, Pam Bondi, to secure the Border, stop the flow of Fentanyl and other illegal drugs across the Southern Border, and SAVE LIVES.” An excerpt from that statement is given below.
After the election, the president-elect chose Bondi as his choice to head the Department of Justice. Another individual who may be characterised as a staunch supporter of President Donald Trump is Bondi, the former attorney general of Florida.
The agency in charge of managing the US Drug Enforcement Administration (DEA) is the Federal Bureau of Investigation (FBI), the investigative arm of the Department of Justice (DOJ). Together, these two organisations are able to fulfil their missions.
The selection of Bondi and Patel, two of the president’s closest loyalists, suggests that President Trump is interested in selecting deeply compatible nominees who are ready to implement his vision and policy preferences. Evidence of this can be found in the fact that both of these individuals were given government jobs.
SOURCE: GN
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Wisconsin Democratic Chief Ben Wikler is running for DNC Chair.
(VOR News) – Ben Wikler, a Democrat from Wisconsin, is expected to challenge for the position of chairman of the Democratic National Committee, according to a statement that was released on Sunday.
Wikler is a member of the Democratic Party. It is probable that Wikler will submit an application for the position. The party is presently in the process of recovering from the defeats it suffered in the November election.
This occurs at a time when the party is endeavouring to recover from the disappointments it has encountered.
Wikler observed that the Democratic Party was unable to establish a connection with the individuals who were most impacted by the high cost of living during the presidential election that occurred a month ago.
We released the statement during the Democratic primary.
An outcome of this was that the Democratic Party was unable to communicate effectively with these individuals. The election was won by President Donald Trump, who was competing as a Republican candidate. Trump had previously served as President of the United States of America.
During a telephone conversation, Wikler asserted, “We must ensure that we communicate our advocacy for them and our support.” “We need to make sure that we are reaching people.” “We are advocating for them.” “We must ensure that we are engaging with individuals.” “We must ensure that we are engaging with individuals.”
Jaime Harrison, the Democratic Party of Wisconsin’s current chair, will not be seeking re-election when the party votes early in the upcoming year. One of the numerous candidates being considered for the position of Harrison’s successor is Wikler, who currently serves as the party’s leader.
Wikler is one of the numerous candidates who are currently being evaluated for the position. Harrison is currently the party’s chair. There are numerous candidates who are being considered for the position of Harrison’s successor, and Wikler is one of the numerous alternatives that are being assessed.
Martin O’Malley, a former governor of Maryland, and Ken Martin, the Democratic chairperson of Minnesota, are all candidates for the position of Democratic chair. James Skoufis, a state senator from New York, is also a candidate for the position.
Minnesota House Democratic Chairman Ken Martin.
Democrats are actively engaged in the development of a strategy to address their loss of control over the House of Representatives, the White House, and the Senate.
This method will assist them in regaining their footing. Furthermore, they have been ineffectual in their endeavour to reclaim control of the chamber in which the Congress is currently convened.
Before assuming his current position, Wikler, who is 43 years old, served as the Washington director for the progressive action group MoveOn and as a producer on the radio program of Al Franken, a comedian who later became a senator. Prior to his current position, Wikler held both of these positions.
Wikler was previously employed in both of these capacities prior to his most recent appointment to the current position. Wikler previously held both of these duties on numerous occasions before commencing his current profession.
Trump observed that the national party could potentially benefit from the organisational endeavours he has overseen in Wisconsin, despite the fact that he narrowly defeated Democratic Vice President Kamala Harris in Wisconsin. Despite the razor-thin margin of victory, he stated this.
Additionally, Wikler contends that the Democratic Party should concentrate on Trump’s economic policies, which, in his opinion, will be more advantageous to affluent Americans than to working Americans in the United States.
For Wikler, this is the more critical matter that the Democratic Party should address. Conversely, Wikler maintains that the Democratic Party should prioritise Trump’s economic strategy.
In an interview, Wikler stated, “This is a critical moment for Democrats to unite and resist Trump’s agenda.” “This is a critical time.” “This is a critical time.” “This is a critical time.”
SOURCE: USN
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Salman Ahmad is a seasoned freelance writer who contributes insightful articles to VORNews. With years of experience in journalism, he possesses a knack for crafting compelling narratives that resonate with readers. Salman’s writing style strikes a balance between depth and accessibility, allowing him to tackle complex topics while maintaining clarity.
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