The Fort Worth Press - Stocks and dollar climb, bitcoin hits record high

USD -
AED 3.672965
AFN 67.838392
ALL 92.377753
AMD 386.688871
ANG 1.800698
AOA 913.510149
ARS 997.787559
AUD 1.532227
AWG 1.8015
AZN 1.703542
BAM 1.840129
BBD 2.017388
BDT 119.39484
BGN 1.843255
BHD 0.376938
BIF 2950.605261
BMD 1
BND 1.337248
BOB 6.928346
BRL 5.7472
BSD 0.999144
BTN 84.369678
BWP 13.59321
BYN 3.269728
BYR 19600
BZD 2.013907
CAD 1.395219
CDF 2869.000317
CHF 0.88236
CLF 0.035638
CLP 983.550088
CNY 7.2092
COP 4436.5
CRC 511.286119
CUC 1
CUP 26.5
CVE 103.742697
CZK 23.79525
DJF 177.924558
DKK 7.01597
DOP 60.208316
DZD 133.819365
EGP 49.332705
ETB 123.478326
EUR 0.940475
FJD 2.263007
GBP 0.78435
GEL 2.740212
GHS 16.285152
GMD 71.499751
GNF 8611.175145
GTQ 7.720606
GYD 209.01701
HKD 7.77855
HNL 25.215231
HTG 131.419485
HUF 384.481505
IDR 15725
ILS 3.74243
INR 84.382498
IQD 1308.851756
IRR 42104.999992
ISK 139.080114
JMD 158.767795
JOD 0.7092
JPY 154.815499
KES 129.249753
KGS 86.197294
KHR 4048.796323
KMF 460.375006
KRW 1398.050212
KWD 0.30756
KYD 0.832581
KZT 495.813105
LAK 21907.960971
LBP 89472.248097
LKR 292.168873
LRD 188.329711
LSL 18.052427
LTL 2.95274
LVL 0.60489
LYD 4.840941
MAD 9.911843
MDL 17.884664
MGA 4670.637273
MKD 57.934971
MMK 3247.960992
MOP 8.005344
MRU 39.705121
MUR 47.189637
MVR 15.460116
MWK 1732.200487
MXN 20.518202
MYR 4.447983
MZN 63.925018
NAD 18.051918
NGN 1676.549997
NIO 36.770621
NOK 11.062555
NPR 134.99873
NZD 1.686125
OMR 0.385012
PAB 0.999078
PEN 3.775893
PGK 4.01385
PHP 58.612997
PKR 277.683782
PLN 4.084953
PYG 7806.663468
QAR 3.64259
RON 4.679899
RSD 109.992009
RUB 98.502276
RWF 1371.17641
SAR 3.757346
SBD 8.351256
SCR 13.62081
SDG 601.524357
SEK 10.89506
SGD 1.336305
SLE 22.800781
SOS 571.033393
SRD 35.234971
STD 20697.981008
SVC 8.742614
SZL 18.043677
THB 34.6303
TJS 10.620208
TMT 3.5
TND 3.141024
TOP 2.342098
TRY 34.358099
TTD 6.789548
TWD 32.419502
TZS 2661.864962
UAH 41.382279
UGX 3671.15761
UYU 42.122199
UZS 12792.683443
VES 44.995376
VND 25345
XAF 617.19122
XCD 2.70255
XDR 0.752722
XOF 617.19122
XPF 112.21355
YER 249.774947
ZAR 18.001575
ZMK 9001.215562
ZMW 27.201475
ZWL 321.999592
  • RIO

    -0.7100

    60.49

    -1.17%

  • CMSC

    0.1260

    24.666

    +0.51%

  • NGG

    -0.6000

    62.3

    -0.96%

  • SCS

    0.1700

    13.84

    +1.23%

  • RYCEF

    -0.0500

    7.11

    -0.7%

  • BCC

    4.3700

    145.5

    +3%

  • BTI

    0.0700

    35.31

    +0.2%

  • RBGPF

    -0.8500

    59.34

    -1.43%

  • RELX

    -0.6300

    45.96

    -1.37%

  • GSK

    -0.6510

    34.869

    -1.87%

  • BP

    -0.1260

    28.034

    -0.45%

  • AZN

    -0.4200

    64.77

    -0.65%

  • JRI

    0.0500

    13.27

    +0.38%

  • CMSD

    -0.0300

    24.72

    -0.12%

  • BCE

    -0.3300

    27.36

    -1.21%

  • VOD

    0.2400

    8.71

    +2.76%

Stocks and dollar climb, bitcoin hits record high
Stocks and dollar climb, bitcoin hits record high / Photo: © GETTY IMAGES NORTH AMERICA/AFP

Stocks and dollar climb, bitcoin hits record high

US and European stocks powered higher, the dollar gained and bitcoin extended a record run on Monday, as traders took their lead from events in the United States and China.

Text size:

Chinese stock markets closed mixed and oil prices slid after China's latest plans to stimulate its economy fell short of expectations.

Wall Street's three main indices pushed into record territory at the opening bell.

"Last week's huge post-election rally hasn't run out of gas yet," said Briefing.com analyst Patrick O'Hare.

Stocks rallied last week on hopes that a second Donald Trump administration -- supported by a Republican Congress -- would push through a slew of business-friendly policies including deregulation and tax cuts, offsetting concerns about possible trade wars.

O'Hare said there were no new developments fuelling the rise.

"In effect, it is a carryover of the 'old' news of the election outcome powering an ongoing momentum trade and a fear of missing out on further gains," he said.

Another cut in US interest rates by the Federal Reserve also helped fuel the record run last week.

While Fed officials declined to provide further guidance until updated projections are ready for its December meeting, the market still largely expects it to cut rates again then.

"If more rate cuts from the Fed continue to be what is expected, then we could see further positive sentiment in US stocks," said Daniela Sabin Hathorn, senior market analyst at Capital.com.

European stocks saw solid gains in afternoon trading.

"European markets are enjoying an upbeat start to the week, with the uncertainty around trade relations with the US seemingly being put on the backburner," said Joshua Mahony, analyst at traders Scope Markets.

The mood was less upbeat in China after Beijing said Friday it would ramp up a local debt ceiling, but fell short of announcing any new growth-boosting measures.

Hopes had been building all last week that officials would deploy a "bazooka" stimulus, the need for which was highlighted Sunday by data showing Chinese inflation slowed last month and came in below forecasts.

Authorities in late September began unveiling a raft of policies aimed at reigniting the economy, which has failed to fire since the lifting of tough Covid-fighting rules at the end of 2022.

Among them were interest-rate cuts and an easing of home-buying measures as leaders try to address a crisis in China's vast property sector.

Observers said there were concerns about the impact of Trump's planned tariffs, which he said would have a particular focus on China, fuelling talk of another trade war between the economic superpowers.

Pepperstone Group's head of research Chris Weston said Beijing may have had an eye on this in its pre-weekend announcement.

"Many feel that China is keeping its tactical powder in play for such time as the Trump-China tariff negotiations build, and they can respond in a more targeted fashion to stem the likely economic fallout," he noted.

Weston added that there were downside risks to Chinese stock markets and yuan in the short term.

Bitcoin hit an all-time high of $82,663.12 Monday on optimism that Trump would ease regulations surrounding the cryptocurrency.

"We shouldn't expect this bullish trend to be interrupted for a long time -- about a year," Stephane Ifrah, of French crypto asset management company Coinhouse, told AFP.

"The next level for me is $100,000."

- Key figures around 1430 GMT -

New York - Dow: UP 0.6 percent at 44,246.07 points

New York - S&P 500: UP 0.4 percent at 6,016.35

New York - Nasdaq Composite: UP 0.4 percent at 19,364.12

London - FTSE 100: UP 0.8 percent at 8,132.82

Paris - CAC 40: UP 1.2 percent at 7,424.16

Frankfurt - DAX: UP 1.4 percent at 19,483.42

Tokyo - Nikkei 225: UP 0.1 percent at 39,533.32 (close)

Hong Kong - Hang Seng Index: DOWN 1.5 percent at 20,426.93 (close)

Shanghai - Composite: UP 0.5 percent at 3,470.07 (close)

Euro/dollar: DOWN at $1.0658 from $1.0724 on Friday

Pound/dollar: DOWN at $1.2877 from $1.2921

Dollar/yen: UP at 153.68 yen from 152.62 yen

Euro/pound: DOWN at 82.78 pence from 82.95 pence

West Texas Intermediate: DOWN 2.7 percent at $68.48 per barrel

Brent North Sea Crude: DOWN 2.5 percent at $72.03 per barrel

burs-rl/rlp

D.Ford--TFWP