Market Brief 8 November, 2024

Good evening, investors and traders! The markets are experiencing a surge of optimism today, fueled by the recent election results and the Federal Reserve's decision to cut interest rates. The S&P 500 Index (GSPC) is up by 0.52% to 6,005.15, while the Nasdaq 100 Index (NDX) is up by 0.06% to 21,132.31. Bitcoin has reached a new all-time high, surpassing $77,000, and BlackRock's Bitcoin ETF has surpassed its Gold ETF in size. The crypto industry is celebrating a major victory, with crypto-backed candidates gaining ground in US House races. The SEC is facing pressure to reform its crypto regulations, with Trump's team considering Robinhood's Dan Gallagher as a potential replacement for Gary Gensler.