Market Brief 21 November, 2024

Good evening, investors and traders! The markets are experiencing a slight dip today, with the S&P 500 Index (GSPC) down by -0.04% to 5,917.05 and the Nasdaq 100 Index (NDX) down by -0.05% to 20,683.77. Bitcoin has surged to a new all-time high of $98,000, fueled by positive market sentiment and the potential for regulatory changes under the Trump administration. The SEC Chair Gary Gensler has announced his resignation, effective January 20, 2025, which could lead to a more crypto-friendly regulatory environment. Meanwhile, the Adani Group is facing a major setback after its chairman Gautam Adani was indicted for fraud and bribery in New York, causing a significant drop in the company's market value. The global economy is showing signs of moderation, but the US is facing potential turmoil next year due to rising borrowing costs.