Markets & Money Today | 2 Min News | The Daily News Now!

Australia introduces new legislation to regulate cryptocurrency exchanges and custody platforms, aiming to boost productivity by $24 billion annually. The Corporations Amendment Digital Assets Framework Bill 2025 creates two new financial product categories: digital asset platforms and tokenized custody platforms. These platforms must obtain an Australian Financial Services Licence and adhere to specific standards for asset safeguarding and client instruction handling. While the bill is seen as a positive step, some experts believe it still has gaps and advocate for more holistic reforms, including clearer tax guidelines.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Nasdaqs International Securities Exchange has proposed to the U.S. Securities and Exchange Commission to significantly increase the limits on options for BlackRocks iShares Bitcoin Trust, known as IBIT. The proposal aims to raise the limit from 250,000 contracts to 1 million contracts, putting IBIT options on par with major stocks and exchange-traded funds. This move is expected to benefit long-term flows into IBIT and highlights growing institutional demand for Bitcoin derivatives. The proposal also asks to remove limits for certain customized options that are physically delivered. The filing supports these changes with IBITs large market capitalization and average daily volume. While the Securities and Exchange Commission still needs to approve this, experts suggest this shift signals that Bitcoin trading is moving from pure speculation to more allocation-driven behavior, potentially leading to a compression in volatility and slightly higher prices.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Asian stock markets surged today, mirroring Wall Streets fourth consecutive day of gains, as investors anticipate a Federal Reserve interest rate cut in December. Japans Nikkei 225 rose by one percent, while technology stocks, including SoftBank Group, performed well. However, Chinese markets were somewhat restrained by slower profit growth. U.S. stocks also closed higher, driven by Federal Reserve comments and tech companies strong performance, such as Dell Technologies and Microsoft. The markets recent rebound, fueled by rate cut expectations, has largely erased earlier losses.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Indias Nifty fifty index soars to a new record high, while BSE Sensex nears a new peak, mirroring a positive trend across Asia-Pacific markets. Wall Streets recent gains, coupled with hopes of US Federal Reserve interest rate cuts, fuel optimism. Technology stocks rebound, driving overall market growth. Japans Nikkei rises, led by tech companies, while South Koreas Kospi advances despite unchanged interest rates. Australias main index sees a modest rise, but China presents a mixed picture with flat indices and falling industrial profits. Global markets react positively to US interest rate cut prospects, pushing many, particularly tech sectors, to new highs.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Unprecedented Fire in Hong Kong: A Tragic DisasterA catastrophic fire has devastated the Wang Cheong House in Hong Kong, resulting in at least 44 deaths and 45 injuries. The blaze, which started on a Wednesday afternoon, rapidly spread through the buildings bamboo scaffolding and green netting, causing a chaotic evacuation. Authorities are investigating the cause, with questions arising about safety standards used in the buildings renovation. Two directors and an engineering consultant from the construction company have been arrested on suspicion of gross negligence. The fire is one of Hong Kongs deadliest disasters, with 279 people still missing.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Vankes Debt Delay: A Troubling Sign for Chinas Property MarketChinese property giant Vankes request to postpone debt repayment has sent shockwaves through the already struggling housing industry. Once considered a healthy firm, Vankes move has investors and analysts worried about a potential default, which could have a massive impact on the sector and wider credit market. Other developers, like Longfor Group Holdings, are feeling increased pressure as Vankes situation raises concerns about a broader market downturn. Experts fear that a Vanke default could signal a weakening government commitment to supporting the sector, making it harder for other developers to refinance their debts. This development follows steep sell-offs of Vankes bonds and stocks and highlights the fragility of Chinas property market.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

A New York judge orders the Justice Department to protect victims privacy in the Jeffrey Epstein sex trafficking case, following the release of documents that exposed their names. The judge sets a deadline for a detailed plan to safeguard victims rights, balancing transparency with their safety.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Enterprise Products Partners: A High-Yield Dividend Stock Poised for Growth - With the Federal Reserve cutting interest rates, investors are turning to high-yield dividend stocks like Enterprise Products Partners (EPD). Known for its six point seven percent dividend yield and twenty-seven years of consecutive payout increases, EPDs resilient cash flow and long-term contracts make it an attractive option. The companys diverse network and growing demand for energy infrastructure, particularly from data centers, position it well for future growth.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Oil prices dip in early Asian trading as peace talks between Russia and Ukraine progress, and OPEC Plus meeting looms. Despite slight gains earlier this week, experts believe these increases are temporary. The potential for increased Russian oil supply and upcoming OPEC Plus meeting add uncertainty to the market, with most expecting production policy to remain unchanged. Long-term outlook suggests an oversupply of oil, vulnerable to further price drops.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Goldman Sachs Greg Calnon suggests looking beyond big tech for investment opportunities next year. He highlights small-cap companies, healthcare stocks, and international stocks as promising sectors. Small-cap firms, despite being less talked about, are driving innovation and offer appealing valuations. Healthcare stocks are benefiting from AI excitement, while international stocks have outperformed the US market and are predicted to do so in the next decade.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Three D Energi makes significant gas discovery in Australias Otway Basin, marking first use of new testing platform Ora. Essington-one well yields promising results, with two out of three tested zones in Waarre A reservoir showing excellent gas transmission. Favorable condensate-gas ratio and low carbon dioxide concentrations indicate potential for simpler processing and reduced environmental impact. Charlemont-one well to be drilled next in the campaign.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Nvidia, currently the worlds most valuable company, is defending its $4.5 trillion valuation amidst skepticism from investors. The company has sent a detailed memo to stock analysts, rebutting claims made by Michael Burry and other critics. Burry, known for predicting the 2008 housing crisis, has recently increased his criticism of Nvidia, drawing significant attention from investors. The memo addresses concerns about inventory piling up and customers struggling to pay, as well as comparisons to past accounting frauds. Nvidia acknowledges lower profit margins and higher warranty costs for its newest chips due to their complex design. The companys shares dipped after a report suggested Meta Platforms was considering using Googles AI chips, which compete with Nvidias products. Nvidia publicly responded to this on X, sparking questions and criticism from users.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Chinas industrial profits plummet in October, marking the largest drop since June, as manufacturers grapple with trade issues and production control efforts. Despite a trade agreement reducing tariffs, weak demand and global trade uncertainties persist. Meanwhile, consumer prices unexpectedly grow, ending a year of decline.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Wheat markets experienced a mixed day, with SRW and Kansas City HRW futures gaining slightly, while Minneapolis spring wheat futures dipped. The markets will be closed tomorrow for Thanksgiving, with trading resuming on Friday. Coffee prices surged due to global crop concerns, and traders await delayed export sales figures for a clearer picture of international demand. A South Korean importer recently purchased wheat from the US and Canada, indicating continued international interest in North American supplies.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Live cattle futures surged on Wednesday, with prices jumping between four and five dollars and seventy cents. This was driven by light cash trades in the northern regions and online sales. Feeder cattle futures also rallied, but the CME Feeder Cattle Index dipped slightly. Wholesale boxed beef prices were lower, with the Choice-Select spread narrowing. The estimated slaughter for the week was twelve thousand head more than last week, but still below the same week last year. December and February live cattle closed higher, while January feeder cattle finished strongly.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Lean hog futures surged on Wednesday, with prices rising by up to $2.50, signaling a bullish market sentiment ahead of the holiday season. The USDA reported a national base hog price of $73.57, a $1.85 increase. The CME Lean Hog Index dipped by $0.80, settling at $82.81. The market will be closed on Thursday and Friday for Thanksgiving. The USDAs pork carcass cutout value increased by $2, reaching $94.25 per hundredweight, indicating a strengthening wholesale pork market. Hog slaughter was estimated at 487,000 head, below last weeks and last years numbers. December, February, and April hogs closed higher, with gains ranging from $1.975 to $2.40.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Cotton futures surged this Wednesday, with December, March, and May contracts all closing higher. Crude oil also climbed, while the US dollar index dipped. An online auction saw significant cotton sales, and the Cotlook A Index increased. However, the Adjusted World Price decreased, indicating some price adjustments. Markets will be closed tomorrow.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Corn prices surged on Wednesday, with contracts rising between seven and eight cents, ahead of the Thanksgiving holiday. The national average cash corn price closed at four dollars and four cents. The market will reopen on Friday, with an early close, following the holiday. Analysts anticipate strong corn bookings, indicating continued global demand. Ethanol production also increased, reaching a near-record total. Despite a slight dip in exports and refiner inputs, the overall outlook for corn remains positive.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Soybean prices surged on Wednesday, with buyers stocking up ahead of the holiday, pushing cash prices up nearly seven cents to $10.59¾. Soymeal futures showed mixed results, while soy oil futures rose by 32 to 57 points. China made significant US soybean purchases, but USDAs official announcements were silent. China rejected a Brazilian soybean shipment due to pesticide contamination, potentially suspending exports from five suppliers. USDAs export sales data for the week ending October 16th is expected on Friday, with anticipated soybean sales between 600,000 and 2 million metric tons.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.

Vaalco Energy, a Houston-based oil and gas producer, has seen its stock drop from nearly eight dollars to three dollars and thirty-three cents due to a mixed second quarter in two thousand twenty-three. Despite missing earnings estimates in the third quarter, theres hope for a rebound as the company expands its global reach and implements cost-cutting measures. With upcoming drilling campaigns and a plan of development approved for Block P offshore Equatorial Guinea, Vaalco trades at attractive valuations and offers a six-point-five percent dividend yield.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.