“Dow Jones Hits Record High as Trump Survives Assassination Attempt, Nominates Running Mate”

The Dow Jones Industrial Average closed at a record high after former President Donald Trump survived an assassination attempt. The S&P 500 also hit an intraday high, and the Nasdaq Composite rose 0.4%. Trump was praised at the Republican National Convention, appearing in good spirits with cheers and chants of support from the audience. Former President Trump also nominated Senator JD Vance of Ohio as his vice-presidential running mate for the 2024 election.

Federal Reserve Chair Jerome Powell stated that the central bank will not wait for inflation to reach its 2% target before cutting interest rates. In the cryptocurrency world, BlackRock CEO Larry Fink referred to Bitcoin as “digital gold,” viewing it as a potential safe haven for investors amid political instability and rising government debt concerns. The Asia-Pacific markets were mixed as investors reacted to Powell’s comments and Trump’s choice for vice-president, JD Vance, who has been vocal about China.

The financial markets seem to be favorable towards the prospect of a Trump re-election, with UBS updating its “Super 8” list of top Asian tech stocks as a result. A connection between Trump’s political activities and the surge in the crypto market is noted, with potential implications for economic growth, tax policies, and market certainty. Financial experts suggest that a Trump second term could maintain recent market trends, particularly benefiting small-cap stocks like the Russell 2000.