Markets that began the year with investors expecting a global stock rally to fizzle, swift U.S. interest rate cuts to boost Treasuries and soften the dollar and emerging market currencies to strengthen have firmly defied that consensus. That comes mostly thanks to a second year of huge gains for Wall Street stocks as artificial intelligence fever and robust economic growth sucked more global capital into U.S. assets and took the dollar up 6.6% against peers in 2024. U.S. exuberance rose after Donald Trump's Nov. 5 election win, as traders focused on the President-elect's plans for tax cuts and deregulation, with the surge in animal spirits propelling cryptocurrency bitcoin to a 122% annual gain.
Chinese stocks post first annual gain since 2020, HK ends 4-year rout
Chinese stocks registered their first annual gain following an unprecedented three-year decline despite a dip on the final trading day of 2024, while Hong Kong shares ended the year higher, supported by optimism over policy support. The blue-chip CSI 300, tracking the biggest companies listed in Shanghai and Shenzhen, rose 14.7% this year, breaking a losing streak since 2021 set off by the COVID-19 pandemic, property sector woes and weak consumer confidence. Hong Kong's benchmark Hang Seng Index closed the year's final session up 0.1%, for an annual gain of 17.7% that ended four consecutive years of losses.
Fintech app Dave faces legal action over deceptive marketing
The DOJ is seeking civil penalties, refunds for consumers, and a court order to halt the company's alleged unlawful practices.
Indonesia Faces Costly Biofuel Expansion After Palm Oil Surges
(Bloomberg) -- Indonesian consumers, fuel retailers and palm oil producers are facing higher costs from the government’s plan to expand its biofuel program after the price of the tropical oil surged.Most Read from BloombergDetroit’s Michigan Central Is the Building Revival Story of 2024Burned Out Parents Need Better Public SpacesMigrant Crisis Pushed US Homelessness to Record High in 2024Make a Transit-Oriented New Year’s ResolutionThe nation plans to increase the volume of palm oil used in its
World’s Best-Performing Currency Fails to Slow Kenyan Inflation
(Bloomberg) -- Kenya’s annual inflation rate climbed for a second successive month in December as higher food and transport costs offset the effects of the shilling’s world-beating performance this year.Most Read from BloombergDetroit’s Michigan Central Is the Building Revival Story of 2024Burned Out Parents Need Better Public SpacesMigrant Crisis Pushed US Homelessness to Record High in 2024The consumer price index rose 3%, compared with a 2.8% increase in November, the Nairobi-based Kenya Nati
Don't Expect Bitcoin Fireworks Ahead of New Year, Traders Say, as BTC ETFs Lose $420M
The broad-based CoinDesk 20 (CD20), an index tracking the largest tokens by market capitalization, minus stablecoins, lost 2.7% in the past 24 hours.
These 2 Monster Growth Stocks Skyrocketed Over 1,000% This Year — Here’s What Analysts Expect in 2025
“Past performance won’t guarantee future returns” is one of the first lessons in investing, a useful reminder that we can never tell what the future has in store. At the same time, a strong track record for a particular company can also suggest that the good times just might keep on rolling. So, what does it mean when a stock gains 1,000% or more in a single year? A jump of that magnitude signifies sustained outperformance – and investors will rightly wish to take a closer look. Wall Street’s an