Market Brief 13 November, 2024

Good evening, investors and traders! The markets are experiencing a surge in activity today, with the S&P 500 Index (GSPC) up by 0.06% to 5,990.65 and the Nasdaq 100 Index (NDX) down by -0.04% to 21,092.49. The crypto market is also on fire, with Bitcoin reaching a new all-time high of $93,481, surpassing Saudi Aramco in market cap and pushing the total crypto market cap above $3 trillion. Donald Trump's election victory has fueled a rally in both stocks and crypto, with investors anticipating pro-growth policies and a more favorable regulatory environment. The U.S. CPI data released today came in line with expectations, with inflation rising 0.2% month-over-month and 2.6% year-over-year. This data suggests that the Federal Reserve may be less likely to cut interest rates in the near term, which could put pressure on the stock market.