Trump Attends RNC, Dow Sets Record Close, Bitcoin Emerges as 'Digital Gold' - CNBC Daily Analysis

Money | July 16, 2024, 3:24 a.m.

The Dow Jones Industrial Average reached a record high following an assassination attempt on former President Donald Trump, with the S&P 500 and Nasdaq also seeing gains. Trump was lauded at the Republican National Convention, signaling his potential return to politics in the 2024 election. Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts before reaching the 2% inflation target. Bitcoin, once doubted by BlackRock CEO Larry Fink, is now seen as "digital gold" and a hedge against currency debasement. Asian markets were mixed, with India's Nifty 50 hitting a high and UBS updating its "Super 8" list of top Asian tech stocks expected to outperform. Stay informed with CNBC Daily Open, delivering essential market news worldwide.