Bets on ‘Trump Put’ Send Stocks, Bitcoin Higher: Markets Wrap
1 month ago

Bets on ‘Trump Put’ Send Stocks, Bitcoin Higher: Markets Wrap

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Beneficiaries of the incoming administration’s looser regulation and business-friendly stance put forth strong showings this week. Stocks gained while Bitcoin crushed doubters and the dollar extended gains into an eighth week, the currency’s longest run of the year. Fundstrat’s Thomas Lee sees room for more gains in small-caps and cyclicals given President-elect’s plans for deregulation and general “animal spirits.” He “When sentiment reaches a ‘bullish extreme’ is when we see equities priced to ‘perfection,’” according to Lee. “The US flash PMIs for November were bullish in aggregate thanks to strength in services,” according to Vital Knowledge’s Adam Crisafulli, who said the details suggested a goldilocks scenario, “with favorable growth developments and cooling price pressures.” The dollar registered its longest streak of weekly wins since September 2023. “The US dollar’s run can continue,” said Peter McLean, head of multi-asset portfolio solutions at Stonehage Fleming.

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