Bitcoin Rises on Trump’s Crypto Plans

🤳7th November 2024 | Markets Surge to Record Highs After Trump’s Election Win, Australia to Ban Social Media for Kids Under 16, 2024 Set to Break Climate Warming Threshold, MLB Team Approaches Juan Soto Early in Free Agency, Californians Flee as Wildfires Destroy Homes, Trump's Top Legal Foe Seeks Exit Strategy, and more!

Business and Economy

🚀 Bitcoin Soars as Investors Bet on Trump’s Crypto Stance

Bitcoin surged 10%, reaching a record $76,493 following Donald Trump's win over Kamala Harris. The spike is attributed to expectations of deregulation, tax cuts, and Trump's crypto-friendly policies. His stance is seen as a boost for broader crypto adoption. Anthony Yeung Global Head at CoinCover stated "The industry needs targeted regulation that balances consumer protection with innovation."

📈 Markets Surge to Record Highs After Trump’s Election Win

U.S. stocks soared to record highs Wednesday after Donald Trump’s election victory. The Dow rose 3.5% (1,500 points), the S&P 500 jumped 2.5%, and the Nasdaq climbed 2.9%. Treasury yields, Bitcoin, and the dollar surged, while regional banks and small-caps spiked. Investors eye a possible Fed rate cut. Analysts stated, “Trump’s win reignited the ‘Trump trade.’

📈 US Services Sector Hits Fastest Growth Since 2022

The US service sector experienced its fastest growth since mid-2022 in October, as the Institute for Supply Management’s non-manufacturing index rose to 56. The employment index increased to 53, indicating steady job growth. New orders and business activity expanded strongly, reaching 57.4 and 57.2, respectively. ISM’s Steve Miller stated, “Low unemployment supports continued consumer spending.”

World

🚫 Australia to Ban Social Media for Kids Under 16

Under Prime Minister Anthony Albanese, Australia will introduce legislation to ban social media for children under 16, starting in 12 months. Platforms like Instagram, Facebook, TikTok, X, and YouTube will be held responsible for preventing access, with no exemptions for parental consent. Albanese stated, "Social media is harming our kids, and I’m calling time on it."

🇩🇪 German Chancellor Fires Finance Minister, Coalition Collapses

German Chancellor Olaf Scholz fired Finance Minister Christian Lindner on Wednesday, citing the need to protect Germany’s interests amid a growing rift over economic policy. The Free Democratic Party withdrew from the coalition, though the Green Party stayed. Scholz announced a confidence vote for January 15, aiming for elections by March. Scholz stated, "The economy cannot wait until after the elections."

🇺🇸 Global Reactions to Trump's 2024 Win

Global reactions to Donald Trump’s 2024 victory were varied with UK PM Rishi Sunak calling it a "renewal of the special relationship." French President Macron expressed hopes for "constructive dialogue," while Russian President Putin saw it as an opportunity for "mutual respect," and China underscored "continued collaboration." Trump himself stated, "I look forward to working with our global allies."  

Science and Tech

🌡️ 2024 Set to Break Climate Warming Threshold

2024 will be the first year on record to surpass the Paris Agreement's 1.5°C warming limit, confirmed by data from Copernicus Climate Change Service. Scientists warn this breach signals severe climate impacts, exacerbated by delays in global action. President-elect Trump's stance on climate may hinder progress. Climate strategist Alex Scott stated, "We don’t have time to stop."

🚀 iOS 18.2 Beta Brings New AI Features, Some Still Waitlisted 

Apple has launched the iOS 18.2 public beta, featuring AI-powered tools like Genmoji, Image Playground, and ChatGPT integration with Siri promising smarter virtual assistants and image creation. While many features are now available, some require joining a waitlist due to AI safety concerns. Apple also rolled out betas for iPadOS, macOS, and tvOS 18.2.

Sports and Entertainment

⚾ MLB Team Approaches Juan Soto Early in Free Agency

The Tampa Bay Rays have unexpectedly reached out to Juan Soto during his MLB free agency, despite a payroll of just $88 million in 2024. Along with the Rays, teams like the Yankees, Mets, Dodgers, Blue Jays, Red Sox, and Giants are also pursuing him for a potential $700 million deal. MLB Commissioner Rob Manfred stated, “It’s a bold move, but unlikely to happen.” 

🚨 Prescott's Injury Could Keep Him Out Longer Than 4 Weeks

Dallas Cowboys quarterback Dak Prescott is recovering from a partial avulsion of his right hamstring, with a recovery time expected to exceed four weeks. The injury occurred during a scramble in the team's loss to the Falcons. Cooper Rush will take over as the starter, with Coach Mike McCarthy stating, "We’re looking at a longer recovery, but we have confidence in Cooper to step in."  

Misc

🗳️ Harris Accepts Election Outcome: "We Must Accept The Results"

Vice President Kamala Harris conceded the 2024 election to President-elect Donald Trump on November 6, 2024, saying, "We must accept the results of this election." She pledged a peaceful transition and urged supporters to "roll up our sleeves" for justice. Harris emphasized, "Don’t ever give up," and reassured the youth, stating, "You have the capacity to do extraordinary good." 

🔥 Californians Flee as Wildfires Destroy Homes

California residents were forced to evacuate as a fast-moving wildfire tore through Ventura County, burning over 10,000 acres. Driven by strong winds and dry conditions, the fire destroyed homes and buildings. Emergency responders faced perilous firefighting conditions, and power outages impacted thousands. Ventura County Fire Captain Trevor Johnson stated, “When you get an evacuation order from the sheriff, leave.”

⚖️ Trump's Top Legal Foe Seeks Exit Strategy

Special counsel Jack Smith, handling cases against Donald Trump for election interference and document mishandling, faces a January 20, 2025, deadline as Trump’s inauguration approaches. Smith must decide whether to end the cases, release a report, or resign. Legal experts suggest documenting the investigation’s findings. Norm Eisen, senior fellow at the Brookings Institution stated, “The Constitution is still there. The laws are still there.

This Day That Year

On November 7th, 2000, the U.S. presidential election ended in a statistical deadlock between Democrat Al Gore and Republican George W. Bush. The intense legal battle that followed ultimately led to the U.S. Supreme Court stepping in on December 12th to settle the dispute.

Have a great day and see you Tomorrow🕺