Young men swung to the right for Trump after a campaign dominated by masculine appeals
US President-elect Donald Trump on Saturday demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the United States dollar or face 100% tariffs. "We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty US Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful US Economy," Trump wrote on his social media platform, Truth Social. "They can go find another 'sucker'. There is no chance that the BRICS will replace the US Dollar in International Trade, and any Country that tries should wave goodbye to America." (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) Track Latest News Live on NDTV.com and get news updates from India and around the world
Dodgers announce 5-year contract with LHP Blake SnellNorth Carolina interviews Bill Belichick for head coaching job, AP sources sayThere’s a concept doing the rounds–just now in the west–that will render trading hours redundant. It’s called the 24X National Exchange.The 24X National Exchange, which counts Steve Cohen’s Point72 ventures fund as a backer, has secured permission to start offering sessions that span the US daytime and later add overnight trading. The plan would preserve one-hour breaks starting at 7 p.m. Opponents have been quick to warn that the quality of trading would suffer from lower volume, which can make pricing less precise. A lower volume is an obvious outcome when hours are relaxed and investors do not need to plane their play within restricted hours. Generations have gone by and stock traders across the globe have worked their schedules and businesses around what are popularly known as ‘trading hours’. The hours between the opening and the closing bells. In India that happens to be between 9.15am and 3.30pm. Settlements happen at the end of the day. During the day seasoned traders have figured out strategies based on statistics on the most and least profitable trading periods. There’s the 10 am rule that refers to the idea that the traders should not make any big moves before 10 am in a trading day. This is because investors believe that the time between ‘Opening Bell’ and 10.00 am is meant for the market to stabilise. Then there’s the “11 am rule” which refers to a guideline suggesting that it’s prudent for traders to wait until 11 am before making any significant trading calls. Traders aim to gain better clarity on market trends and reduce the risk of making impulsive or emotionally-driven trades. This approach can help traders make more informed decisions based on more stable market conditions later in the morning. Here’s a breakdown of the rationale behind the rule: · Market Activity: By 11 am EST, the market has already been in session for a few hours, with a significant portion of trading activity having occurred. · Trend Confirmation: A new high or low established during this time frame, especially with good volume, might be seen as a confirmation of the existing trend. · Institutional Investors: Some believe larger institutional investors may be placing larger orders around this time, influencing the direction of the stock price. In the Indian stock markets–BSE and NSE–trading hours become important for short sellers as well, as settlements happen at the end of the closing bell. Why am I going through this information? There’s a concept doing the rounds–just now in the west–that will render trading hours redundant. It’s called the 24X National Exchange. The 24X National Exchange, which counts Steve Cohen’s Point72 ventures fund as a backer, has secured permission to start offering sessions that span the US daytime and later add overnight trading. The plan would preserve one-hour breaks starting at 7 p.m. Who’s Steve Cohen? He’s an American hedge-fund manager and presently the owner of the New York Mets of Major League Baseball. Cohen bought the New York Mets in 2020 for a colossal $2.4 billion, the highest sale price ever for any Major League Baseball team. Why am I tell you this? Simply to emphasize that the man means business. What’s Point72? Point72 Asset Management, is a $35 billion (assets under management) hedge fund firm that was established in 2014 and started managing outside capital in the year 2018. As with everything out of the ordinary, there has be an instant resistance. The proposal to allow nonstop stock trading has split Wall Street. Opponents have been quick to warn that the quality of trading would suffer from lower volume, which can make pricing less precise. A lower volume is an obvious outcome when hours are relaxed and investors do not need to plane their play within restricted hours. Supporters have pointed to the fact that stock traders are most at-risk when the market is closed in their geographic location, a problem that this concept will be seeking to alleviate. How would 24X really function? 24X would offer three sessions that start at 4 a.m. in New York and extend to 7 p.m. Once it’s able to meet certain data requirements, it is likely to add an overnight session from 8 p.m. right up until 4 a.m., according to SEC’s order. The schedule would run from Sunday evening through Friday evening. That traders and investors will take time to learns the ropes of playing in a round-the-clock market goes with out question. It remains to be seen the new opportunites this system would have the potential of offering to maverick hyper-innovative speculators. Click for more latest Markets news . Also get top headlines and latest news from India and around the world at News9. Amit Ranjan Kumar is an Executive Editor with NEWS9 Plus. He is a producer and director with 25 years of experience in the creative space in India and the APAC markets.
WEST PALM BEACH, Fla. (AP) — Canadian Prime Minister Justin Trudeau said Saturday he had an “excellent conversation” with Donald Trump at his Mar-a-Lago club after the president-elect's threat to impose significant tariffs on two of America’s leading trade partners raised alarms in Ottawa and Mexico City . It was unclear, as Trudeau headed back to Canada from Florida, whether the conversation had alleviated Trump’s concerns. A person familiar with the details of the leaders' hastily arranged meeting Friday night said it was a “positive wide-ranging dinner that lasted three hours.” The official, who was not authorized to discuss the matter publicly and spoke to The Associated Press on condition of anonymity, said topics included trade, border security, fentanyl, defense, Ukraine, NATO, China, the Mideast and pipelines, as well as the the Group of Seven meeting in Canada next year. The Republican president-elect has threatened to impose tariffs on products from Canada and Mexico if the countries don’t stop what he called the flow of drugs and migrants across their borders. He said he would impose a 25% tax on all products entering the U.S. from Canada and Mexico as one of his first executive orders when he takes office in January. As he was leaving his West Palm Beach hotel, Trudeau stopped briefly to answer a reporter’s question about the dinner meeting, saying it was "an excellent conversation." Trump’s transition team did not respond to questions about what the leaders had discussed. Trump, during his first term as president, once called Trudeau “weak” and “dishonest,” but it was the prime minister who was the first G7 leader to visit Trump since the Nov. 5 election. "Tariffs are a crucial issue for Canada and a bold move was in order. Perhaps it was a risk, but a risk worth taking,” Daniel Béland, a political science professor at McGill University in Montreal. Among those at the dinner were Howard Lutnick, Trump's pick for commerce secretary; North Dakota Gov. Doug Burgum, in line to lead the Interior Department; and Mike Waltz, Trump's choice to be his national security adviser. Accompanying Trudeau were Canada's public safety minister, Dominic LeBlanc, whose responsibilities include border security, and Katie Telford, Trudeau's chief of staff. Trudeau had said earlier Friday that he would resolve the tariffs issue by talking to Trump. Mexican President Claudia Sheinbaum said a day earlier after speaking with Trump that she is confident a tariff war with the United States will be averted. Trudeau said Trump got elected because he promised to bring down the cost of groceries but now he's talking about adding 25% to the cost of all kinds of products including potatoes from Prince Edward Island in Atlantic Canada. “It is important to understand that Donald Trump, when he makes statements like that, he plans on carrying them out. There’s no question about it,” Trudeau said before his leaving for Florida. “Our responsibility is to point out that he would not just be harming Canadians, who work so well with the United States, but he would actually be raising prices for Americans citizens as well and hurting American industry and business,” he added. To Nelson Wiseman, professor emeritus at the University of Toronto, Trump "doesn’t need convincing that new tariffs on Canadian products would not be in U.S. interests. He knows that, but cannot say it because it would detract from what he has said publicly. His goal is to project the image that he gets action when he talks.” Those tariffs could essentially blow up the North American trade pact that Trump’s team negotiated during his first term. Trudeau noted they were able to successfully renegotiate the deal, which he calls a “win win” for both countries. Trump made the tariff threat Monday while citing an influx of migrants entering the country illegally, even though the numbers at the Canadian border pale in comparison to those at the U.S.-Mexico border. Trump also spoke about fentanyl from Mexico and Canada, even though seizures from the Canadian border are few in comparison to the Mexican border. Canadian officials say lumping Canada in with Mexico is unfair but say they are ready to make new investments in border security. When Trump imposed higher tariffs during his first term in office, other countries responded with retaliatory tariffs of their own. Canada, for instance, announced billions of new duties in 2018 against the U.S. in a response to new taxes on Canadian steel and aluminum. Canada is the top export destination for 36 U.S. states. Nearly $3.6 billion Canadian (US $2.7 billion) worth of goods and services cross the border each day. ___ Gillies reported from Toronto.