Fundstrat co-founder Tom Lee claimed the cryptocurrency market is likely at or near a bottom on Monday, arguing that prices have overshot to the downside even as underlying fundamentals continue to strengthen. Speaking on CNBC Monday, Lee said crypto had "taken it much worse than we expected," despite a lack of leverage in the system and improving network activity. He added investor capital was pulled away from digital assets earlier this year by a surge in precious metals. “I think crypto has suffered f ...

After months of market speculation, President Donald Trump finally announced Kevin Warsh as his nominee to serve as the next chair of the Federal Reserve. Many market watchers, who were concerned that Trump's next pick to lead the Fed may be too prone to influence from the 47th President, view Warsh as a safer choice than other alternative candidates previously discussed. Official White House Photo by Tia Dufour. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 ...

Ernest HoffmanErnest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in ...

You attended the Supreme Court hearing last week on the Lisa Cook case and Treasury Secretary Scott Bessen criticized that is political. Can you say why you attended and what you would say in response to the secretary's criticism. So let me start with I I don't respond to comments by other officials, whoever they may be.It's just not appropriate to do that. I will tell you why I attended. I would say that that case is perhaps the most important legal case in the Fed's 113 year history.And as I thought about ...

Core Viewpoint - If the Federal Reserve begins to cut rates in 2026, a specific category of stocks may experience significant valuation increases, akin to a compressed spring being released [1] Group 1 - The potential for stock valuations to expand is linked to the timing of Federal Reserve rate cuts [1] - The specific category of stocks that could benefit from this scenario is not detailed in the provided content [1]

Core Viewpoint - Federal Reserve Chair Jerome Powell is demonstrating a sign of unity with another central-bank member amidst criticism from the Trump administration [1] Group 1 - Jerome Powell has been a target of the Trump administration, indicating potential political pressures on the Federal Reserve [1] - The unity shown with another central-bank member suggests a collaborative approach within the Federal Reserve [1]

Core Viewpoint - Federal Reserve Chair Jerome Powell has received significant support following threats from the Trump administration's Department of Justice regarding a potential criminal indictment related to his testimony about building renovations [1] Group 1 - The Trump administration's Department of Justice has allegedly threatened Jerome Powell with a criminal indictment [1] - The situation has led to a variety of support for Powell from different sectors [1]

Core Viewpoint - The stock market appears to be largely unfazed by the recent geopolitical developments in Venezuela, particularly the arrest of Nicolás Maduro, with investors focusing on broader market themes such as AI and corporate earnings [1][2]. Group 1: Market Reactions - The positive response in stocks indicates that the market is not particularly concerned about the geopolitical situation in Venezuela, suggesting a focus on potential positive outcomes like "peace through strength" [2]. - Investors are assessing the implications of the US incursion into Venezuela but are currently prioritizing established market themes from 2025, including a resurgence in AI investments [2][3]. Group 2: Economic Impact - Portfolio managers believe that the current geopolitical climate will not significantly impact company fundamentals or the global economy, indicating a perception of the situation as manageable [3]. - The market's reaction may be interpreted as a "risk-on" event, suggesting that investors are willing to take on more risk in light of the geopolitical developments [3]. Group 3: Geopolitical Context - The year 2026 is anticipated to be a significant geopolitical year, potentially acting as a catalyst for market rallies similar to those seen in 2016 during major regime shifts [4]. - Concerns are raised about China, the largest buyer of Venezuelan oil, as a potential source of greater risk due to its economic interests in Venezuela [4][5]. Group 4: Venezuela's Oil Reserves - Venezuela possesses the world's largest proven oil reserves, but its output has dwindled to less than 1% of global supply due to mismanagement, underinvestment, and US sanctions [5]. - The US administration's focus on reparations and reclaiming oil rights from Venezuela may lead to legal battles, particularly as China seeks to protect its economic interests [5].

Core Viewpoint - Donald Trump criticized Federal Reserve Chair Jerome Powell, labeling him a "fool" and suggesting potential legal action for "gross incompetence" regarding the renovation costs of the Federal Reserve headquarters [1][5]. Group 1: Economic Commentary - Trump claimed the US economy is in great shape, despite his negative view of Powell's leadership at the Federal Reserve [2]. - He expressed disappointment that President Biden reappointed Powell, despite having appointed him himself in 2018 [2]. Group 2: Renovation Cost Discrepancies - Trump inaccurately stated that the renovation cost for the Federal Reserve headquarters is $4.1 billion, while the actual cost is $2.5 billion, as clarified by Powell [3]. - He described the renovation as the "highest price in the history of construction" [3]. Group 3: Comparisons and Future Plans - Trump compared the renovation costs to the construction of a ballroom at the White House, claiming it would cost "a tiny fraction" of the Federal Reserve renovation [4]. - He acknowledged that the ballroom's cost has increased to $400 million, which is double the previously stated estimate of $200 million [5]. - Trump mentioned that the increased cost is due to security requirements for the inauguration, including bullet-proof glass and a drone-free roof [6]. Group 4: Future Leadership of the Federal Reserve - Trump indicated he would appoint Powell's successor next year and plans to announce his choice in January [6].

Core Viewpoint - The discussion centers around the impact of the Federal Reserve (Fed) and earnings growth on market performance, with a focus on the potential for continued double-digit gains in the stock market. Group 1: Federal Reserve's Role - The Fed's actions, particularly rate cuts, have been significant but there is a belief that further cuts may not be necessary given strong GDP growth of 4.3% in Q3 and projected 15% profit growth year-over-year for the next year [3][4] - There is speculation that the Fed may still cut rates once or more in the coming year due to political pressures, but the primary focus should be on earnings growth rather than Fed actions [4][6] Group 2: Earnings and Economic Growth - Earnings growth is identified as the primary driver of market gains, with initial fears about earnings being unfounded as the year progressed [2] - The combination of strong earnings, supportive monetary and fiscal policies, and robust GDP growth creates a favorable environment for the stock market [6][8] Group 3: Market Outlook and Risks - There is cautious optimism about the market's ability to continue its upward trajectory, driven by AI and other sectors, despite potential volatility and risks such as upcoming Supreme Court decisions that could impact trade policy [15][16] - Concerns about inflation resurfacing if rate cuts are implemented too aggressively highlight the delicate balance the Fed must maintain [11][12]