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☆ High grocery prices got droves of Americans to vote for Trump but they shouldn’t expect to pay less over the next four years
▼ + stars: | 2024-11-14 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

With some of these pressure points softening, food prices have cooled to rates comparable to before the pandemic. “Grocery prices have skyrocketed,” he said. “Until we can — if we can — fix climate change, there’s no way that food prices can come down,” he told CNN. In the past, grocery prices have come down primarily when “the economy is under duress” and people don’t have enough money to pay for groceries. Absent these kinds of scenarios, Trump is unlikely to get the actual food prices we pay back to where they were during his first term.

Persons: Joe Biden, Donald Trump, Trump, ”, “, ” Trump, “ That’s, That’s, Phil Lempert, Vance, Lempert, Leo Feler, Feler, it’s “ Organizations: New, New York CNN, AP VoteCast, New York Economic Club, ”, Trump, CNN, University of California Locations: New York, Ukraine, Russia, Brazil, Mexico, Florida, California, China, Los Angeles

☆ Here's why investors are so excited about Disney's quarterly results
▼ + stars: | 2024-11-14 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Revenue in the fiscal fourth quarter totaled $22.57 billion, topping the $22.45 billion expected by analysts, according to estimates compiled by LSEG. And the good run should continue, with management forecasting earnings growth acceleration over the next couple of years. Roughly $15 billion in cash flow from operations vs. $14.8 billion expected, and about $8 billion in capital expenditures vs. $6.54 billion expected. That implies free cash flow of about $7 billion vs. $8.1 billion expected. In entertainment, the team forecasts double digit percentage growth in operating income, with 10% operating margin in its streaming businesses.

Persons: Robert Iger's, Iger, hasn't, Jim Cramer's, Jim Cramer, Jim, Mickey Mouse, Mouse, Gary Hershorn Organizations: Disney, Revenue, LSEG, Management, ESPN DTC, ESPN, DIS, Comcast, Netflix, Warner Bros Discovery, Paramount Global, Sports, CNBC, Magic, Walt Disney World, Corbis, Getty Locations: Florida, India, Orlando , Florida

☆ Watch Fed Chair Powell speak live to business leaders in the Dallas area
▼ + stars: | 2024-11-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell speaks Thursday to business leaders in the Dallas-Fort Worth area on monetary policy. That followed a half-point cut in September and left the federal funds rate in a range between 4.5% and 4.75%. Economic readings this week, however, showed that inflation has proven sticky, with consumer price inflation at 2.6% and prices at the wholesale level at 2.4%. Markets expect the Fed to cut again in December then likely skip the January meeting as officials assess the effect of the policy-easing moves so far.

Persons: Jerome Powell, Powell, Trump Organizations: CNBC, YouTube Locations: Dallas, Fort Worth

☆ A smart way to follow value investor David Einhorn into his latest play that generates income to boot
▼ + stars: | 2024-11-14 | by ( Michael Khouw | ) www.cnbc.com time to read: +6 min

Value investors believe these companies are undervalued due to temporary issues, market overreactions, or broader economic conditions. The approach is long-term, as value investors wait for the market to recognize the company's actual value, which may take time. On a podcast earlier this year, well-known hedge fund manager David Einhorn of Greenlight Capital lamented that modern-day passive investors pay no attention to "value" of the companies they buy. Outcome Scenarios : If the stock price stays above the strike price, the option expires worthless, allowing the investor to keep the premium as profit. If the stock price falls below the strike price, the option buyer will likely exercise it, obligating the seller to buy the stock at the strike price.

Persons: Benjamin Graham, Warren Buffett, David Einhorn, CNH Organizations: Greenlight, Deere & Co, Agco Corp, Farmers, CNBC, NBC UNIVERSAL

☆ Trump Media CFO, two other insiders sell millions of dollars worth of DJT stock
▼ + stars: | 2024-11-13 | by ( Dan Mangan | Dan Mangan Is A Reporter Covering Politics For Cnbc.Com. | ) www.nbcnews.com time to read: +3 min

The chief financial officer of Trump Media and two other corporate insiders sold more than $16 million worth of company stock in the week following the presidential election, according to new disclosures. The sale disposed of all of Swider’s Trump Media shares, the filing indicated. Swider controls a company, Renatus Advisors, that still owns 18,043 shares of Trump Media. Glabe, who is also the company’s secretary, still owns 336,576 restricted stock units in Trump Media after that sale. A Trump Media spokeswoman did not immediately respond to CNBC’s request for comment on the stock sales.

Persons: Phillip Juhan, Eric Swider, Scott Glabe, Donald Trump, Bluesky, Trump, Juhan, Swider, Swider’s, Glabe, Scott, Devin Nunes, Nunes ’ RSUs Organizations: Trump Media, Trump Media’s, U.S . Securities, Exchange, Swider’s Trump Media, Renatus Advisors, Glabe, Juhan Locations: DJT

Inflation is drifting down in fits and starts, and so are restaurant menu prices. Diners are more likely to notice stabilizing menu prices at quick-service restaurants than at sit-down ones. But the rate at which all eateries changed their menu prices between the second and third quarters this year plummeted by 26%, the company said. Quick-service restaurants have benefited from slower growth in labor costs, Square found. The company estimates annual inflation faced by quick-service operators at 3.6% as of September, versus 4.3% for restaurants with table service.

Persons: ”, Kelly Esten, Ara Kharazian, Donald Trump, Joe Brusuelas, Trump Organizations: National Restaurant Association, “, Lightspeed Commerce, Wine Trade Alliance, RSM

☆ What the recall of progressives in the Bay Area says about Asian American views on crime
▼ + stars: | 2024-11-13 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +6 min

The recall last week of two Bay Area officials who both championed progressive crime policies reflects long-held frustrations around a previous increase in violence targeting the Asian American community, experts say. The vote is indicative of Asian Americans’ rightward shift toward tougher crime policies like much of the state, analysts say. From March 2020 to December 2021, Asian Americans and Pacific Islanders across the country reported nearly 11,000 hate incidents, including verbal and physical abuse, being coughed at or spat on, and facing discrimination in the workplace. “And a lot of people say, ‘Oh, we’ve moved on from that era.’ I don’t think Asian Americans have,” said James Zarsadiaz, author of “Resisting Change in Suburbia,” whose research focuses on Asian American conservatism. In San Francisco, for example, officials received 60 reports of hate crimes against Asian Americans in 2021, compared with the nine in 2020.

Persons: Sheng Thao, Pamela Price, Kamala Harris, Donald Trump, San Francisco Mayor London Breed, Levi Strauss, Daniel Lurie, Chesa Boudin, we’ve, ”, James Zarsadiaz, Russell Jeung, that’s, ” Jeung, “, it’s, Thao, Price, Thao’s, ” Price, Jasper Wu, Price’s, Venus Gist, Zarsadiaz, “ It’s, they’ve, ” Zarsadiaz, “ They’re, there’s Organizations: American, Oakland, Bay Area, San Francisco Mayor London, Democrat, San, Pacific Islanders, San Francisco State University, Oakland Police Department, FBI, NBC, Asian, University of San Locations: Alameda County, Oakland, Bay, San Francisco’s, Americans, California, Alameda, American, San Francisco, University of San Francisco

Price growth ticked higher in October as voters began casting ballots in a presidential election in which economic concerns played a big role. The consumer price index climbed to 2.6% last month since the same time last year, the Bureau of Labor Statistics reported Wednesday. Stock futures turned higher, while traders bid up the price of government bonds. All-important shelter costs rose 0.4% from September to October, accounting for over half the monthly gains, the BLS said. Over the past four years, consumer prices have cumulatively increased about 20%, with the costs of many other goods and services rising even faster.

Persons: That's, Joe Biden’s, ” Kathy Jones, Charles Schwab, ”, Donald Trump, Trump, Jerome Powell Organizations: of Labor Statistics, BLS, Charles, Charles Schwab Center, Financial Research, ” Voters, White House, Trump, Investors, Adobe, National Retail Federation, Peterson Institute for International Economics, Citi Locations: —

☆ COP29 host Azerbaijan hits out at West in defense of oil and gas
▼ + stars: | 2024-11-13 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +5 min

The president of Azerbaijan, host of this year’s U.N. climate summit, lashed out at Western critics of his country’s oil and gas industry on Tuesday. Azerbaijan’s finance ministry said the share of oil and gas as a contribution to the economy was declining as the country diversifies. The people need them.”He singled out the United States, the world’s largest historic carbon emitter, and the European Union for particular criticism, accusing them of double standards. The United States is the world’s largest oil and gas producer. Aiming to cut methane emissions from the United States, President Joe Biden’s administration on Tuesday finalized a methane fee for big oil and gas producers.

Persons: Ilham Aliyev, General Antonio Guterres, ”, Aliyev, bode, Romain Ioualalen, Harjeet Singh, Ali Zaidi, Joe Biden’s, Donald Trump, ” Guterres, Mia Mottley Organizations: European Union, Observers, Shell, World Bank Locations: Azerbaijan, United States, Ukraine, California, New York, Spain, Barbados

☆ Morgan Stanley upgrades AI play on the insurance industry, sees 30% rally
▼ + stars: | 2024-11-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

It is time to consider scooping up shares of a little-known software play, according to Morgan Stanley. CCC is a software as a service provider specializing in the property-casualty insurance sector and working with insurers and collision repairers. CCCS YTD mountain Shares this year "CCCS is a market share leader, positioned to capture value digitizing and automating the [property and casualty] Insurance industry," Baer wrote. "Established solutions, ramping emerging solutions and AI help to sustain high-single-digit growth." CCC's shares have also underperformed those of its vertical software peers, offering an attractive valuation discount and entry point relative to competitors, the analyst noted.

Persons: Morgan Stanley, Josh Baer, Baer Organizations: CCC, Services, Insurance

☆ Tesla initiates sixth Cybertruck recall in a year
▼ + stars: | 2024-11-13 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Tesla is recalling 2,431 Cybertrucks to replace defective drive inverters, according to notices made public by the National Highway Traffic Safety Administration on Wednesday. It's the sixth recall of the Cybertruck since the angular steel pickup went on sale about a year ago. Tesla addressed the previous Cybertruck recall with an over-the-air software update to fix an issue that caused images from the truck's backup cameras to not display correctly after the driver shifted into reverse. The latest Cybertruck recall requires the replacement of a part called a drive inverter, which provides power to the wheels of the vehicle. Tesla CEO Elon Musk has clashed with NHTSA and other federal regulators for years.

Persons: Tesla, It's, Elon Musk, Donald Trump, Musk, Trump, Elon Organizations: National, Traffic, Administration, NHTSA, Department of Government, Congress, Trump Locations: U.S

☆ Inflation hit a bump in October after slowing for six straight months
▼ + stars: | 2024-11-13 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

Housing-related inflation accounted for half of the monthly rise, and energy prices were flat after dragging down the overall index for four of the past six months. The Consumer Price Index measures price changes across commonly purchased goods and services. Still, October’s increase was to be expected, due to unfavorable comparisons from a year ago and stubborn housing-related inflation. Consensus estimates were for a 0.2% monthly increase and a 2.6% annual increase in the overall CPI, according to FactSet. A potential ‘inflation shock’ in the wingsAlthough the broader US economy survived the sharpest inflation run-up seen in a generation, Americans’ finances — and their sentiment — were far from unscathed.

Persons: “, ” Stephen Juneau, Donald Trump, Larry Summers, Kate Bolduan, Trump’s, Lindsay Rosner, Jerome Powell Organizations: CNN, Bureau of Labor Statistics ., Bank of America, BLS, —, Trump, Biden, CNN News Central, Federal Reserve, Goldman Sachs Asset Management Locations: Ukraine

☆ A big-cap tech has been surprisingly lagging the software stock breakout. That may be about to change
▼ + stars: | 2024-11-13 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +4 min

The iShares Expanded Tech-Software Sector ETF (IGV) has been getting a lot of attention, and rightly so. Things have recently accelerated in November, and Tuesday, the IGV Software ETF was one of just three ETFs we track to make new all-time highs. Within the IGV Software ETF, it also has the third biggest weighting, but it's behind both CRM and ORCL. More importantly, MSFT has been noticeably lagging the IGV ETF across various time frames. The potential good news is that: 1. the ratio line remains in a long-term uptrend and 2. the last two oversold conditions happened near major relative trading lows.

Persons: IGV, MSFT, it's Organizations: Software Sector, Technology Trust, IGV Software, Microsoft, NASDAQ, Software, CNBC, NBC UNIVERSAL Locations: MSFT

☆ You need to make $108,000 to afford a home in America
▼ + stars: | 2024-11-13 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

That’s nearly double the household income of $56,800 needed to afford a new home in 2019. Just 36% of US households earned enough to afford a new home, compared to 59% in Q3 2019. A shortage of homes in the US, combined with increased demand, helped create intense competition, leading to skyrocketing home prices in cities across America. A major contributor to the home affordability crisis: rising mortgage rates. Mortgage rates, which are the interest rates a lender charges on a home loan, ballooned in 2022 and 2023 as the Federal Reserve hiked interest rates to combat inflation.

Persons: That’s, Louis, ” Barbara Denham Organizations: CNN, Oxford Economics, Midwest, Oxford, Federal Reserve Locations: America, San Jose , California, California, San Francisco , Los Angeles, San Diego, Cleveland , Louisville, Detroit, St, Florida , Arizona, South Carolina

☆ Why Builders Are Renting Out New Houses Instead of Cutting Home Prices
▼ + stars: | 2024-11-13 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

Builders, meanwhile, are luring buyers with some perks but are barely budging on prices. That's partly because these companies have another place to turn: the rental market. Opportunistic investors — mostly small and midsize players, who own the vast majority of single-family rentals in the country — are happy to oblige. Builders have also started developing entire communities of single-family homes to be rented out rather than sold, a strategy known as build-for-rent. Their embrace of the rental market says more about the obstacles for buyers than for builders.

Persons: homebuilders, John Burns, Keith Hughes, —, Horton, Don Mullen, they've, Adam Stern, Sean Morgan, Alex Offutt, Ray Sturm, Sturm, Selma Hepp, It's Organizations: John Burns Research, Consulting, Builders, John, Houston, Owners, SFR, Sun, Dallas, Local, Business Purpose, Offutt Locations: Tampa , Florida, Carolinas, Nashville, Horton

☆ Inside AI-Healthcare Startup Forward's Demise
▼ + stars: | 2024-11-13 | by ( Rebecca Torrence | Rob Price | ) www.businessinsider.com time to read: +13 min

The healthcare startup Forward bet the future of its business on a spaceshiplike mall kiosk in Roseville, California. AdvertisementEleven former Forward employees spoke with BI before the closure on the condition of anonymity to avoid retribution from the company. Two former employees told BI that, at that time, the startup was set to run out of money in less than a year. Lea Suzuki/The San Francisco Chronicle via Getty ImagesThe CarePods came with many financial and logistical challenges, former employees told BI. Most former employees BI spoke with said they still believed in Forward's mission.

Persons: —, Elon, Adrian Aoun, Axios, Forward's, fundraise, Forward, Rob Price, Larry Page's, Aoun, Rebecca Torrence, iPads, hadn't, he'd, Lea Suzuki, CarePod, CarePods Organizations: Google, Business, Forward, Apple, San Francisco, Getty, BI Locations: Roseville , California, Roseville, Chicago, New York City, Forward's San Francisco, Forward's Washington, DC, Washington ,, San Francisco, Washington, Dallas, Bellevue , Washington, Sacramento, Chandler , Arizona, Chicago's Willis, Galleria, there's

☆ Every kind of F-35 has now seen combat after a carrier-based stealth fighter struck the Houthis
▼ + stars: | 2024-11-13 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

AdvertisementThe Pentagon said F-35C stealth aircraft took part in strikes against the Houthis last weekend. The aircraft carrier-based variant of the F-35 stealth fighter made its combat debut during recent American military airstrikes against the Iran-backed Houthi rebels, a US defense official confirmed to Business Insider on Wednesday. AdvertisementA US defense official said that mission was the first operational combat flight by the F-35C, meaning all three variants of the aircraft have now seen combat. The F-35 Lightning II is a single-engine, multi-role strike stealth fighter jet made by American defense company Lockheed Martin. Aircraft from USS Abraham Lincoln (CVN 72) support operations against Iran-backed Houthis in the U.S. Central Command area of responsibility.

Persons: Abraham Lincoln, Lockheed Martin, 8Y4yqsAepd, Carl Vinson, Pat Ryder, Seaman Nathaly Cruz, Ryder Organizations: Pentagon, Business, Lockheed, The Air Force, Marine Corps, Navy, Aircraft, U.S . Central Command, Taliban, ISIS, Fighter Attack Squadron, EA, Pentagon Press, Air Force, Marine Fighter Attack Squadron, US Navy, Communication, Monday Locations: Iran, Yemen, American, U.S, Afghanistan, Iraq, Gulf of Aden, Mandab, Syria

☆ Analysis: A Trump bitcoin promise is what crypto fans once fought against. They love it anyway
▼ + stars: | 2024-11-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —The crypto industry, an institution founded on the principle of getting the government’s greedy hands off the people’s currency, is booming. They may have finally convinced the government to get its hands on bitcoin. And second: He would create a national bitcoin reserve by preventing the government from selling the assets it has seized in criminal cases. I asked several experts this week about that apparent inconsistency in the crypto ethos. “This, by itself, represents an enormous symbolic win for the crypto industry that two years ago was being spoken of as dead in the water.”

Persons: CNN Business ’, Donald Trump, Faryar Shirzad, “, we’ve, ” Trump, ”, Sam Bankman, Trump, Gary Gensler, can’t, Gensler, Robert F, Kennedy Jr, Fort Knox ”, Sam, shouldn’t, Molly White, ’, Zeke Faux, ” Yesha Yadav Organizations: CNN Business, New York CNN, Securities and Exchange Commission, SEC, Vanderbilt University Locations: New York, Fort

☆ An under-the-radar Trump trade that will benefit from pro-crypto stance and deregulation
▼ + stars: | 2024-11-13 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

"But SQ has also come under regulators' scrutiny (FinCen, CFPB) recently around its Cash App and Afterpay businesses. The president-elect has taken a pro-crypto stance during his time on the campaign trail , pledging to ensure that the federal government does not sell off its bitcoin holdings. A more favorable regulatory environment could also spell gains for Visa , which has rallied around 19% this year, according to Bernstein. "While it is unlikely that the DOJ pulls the case, it's possible that President-elect Trump names a more pro-business Head, who might be more amenable to a weaker settlement with Visa." That stock has seen the biggest year-to-date gains of the three, rising around 24%.

Persons: Donald Trump's, Bernstein, Harshita Rawat, Rawat, Trump, Gary Gensler Organizations: U.S . Securities, Exchange, Visa, Department of Justice, DOJ, Trump, Mastercard, Discover Financial

☆ UBS upgrades 3M to buy, says shares can rally more than 40%
▼ + stars: | 2024-11-13 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

3M is poised to see a return to steady growth in the months ahead, according to UBS. The bank raised its rating on the stock to buy from neutral and hiked its price target to $184 from $130, reflecting more than 41% upside. Mehrotra said the company could see 40% earnings growth by 2028 if the CEO is successful in his efforts. Mehrotra is among the 10 analysts on Wall Street who have a strong buy or buy rating on the name, per LSEG. The average price target of $144.74 implies around 11% upside.

Persons: Amit Mehrotra, William Brown, Mehrotra Organizations: UBS, MMM, Wall Locations: repurchases

☆ Goldman sees 20% upside as Philip Morris moves to mostly smoke-free products such as Zyn
▼ + stars: | 2024-11-13 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Philip Morris shares have more room to run as the Marlboro maker continues to shift its focus from cigarettes to smoke-free products, according to Goldman Sachs. Herzog also reiterated her buy rating and called Philip Morris a top pick heading into 2025. Philip Morris announced earlier this year that it would invest $600 million to build a new Zyn production facility in Colorado. PM YTD mountain PM, year to date Herzog also said Philip Morris shares will benefit from the domestic debut of heated tobacco product Iluma. Philip Morris shares have jumped more than 33% in 2024.

Persons: Philip Morris, Goldman Sachs, Bonnie Herzog, Herzog, Philip Locations: Marlboro, Tuesday's, U.S, Colorado

☆ Homebuilder deal activity is surging, fueled by major Japanese buyers
▼ + stars: | 2024-11-13 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Exceptionally strong housing demand in the U.S. has large homebuilders in the driver's seat and smaller builders ripe for takeover. Whelan says she alone has four more set to close by year end, and there could be more from others. The surge is the result of still-growing housing demand that reignited at the start of the pandemic thanks to record low mortgage rates and sudden new migration. But mortgage rates also caused a historic housing shortage. That dynamic, sometimes called the mortgage rate lock-in effect, has exacerbated the housing shortage.

Persons: Margaret Whelan, Whelan Locations: U.S

☆ Inflation report shows market could have a 'recipe for disaster' heading into new year, says economist
▼ + stars: | 2024-11-13 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

So far on Wednesday, the stock market was largely ignoring the morning's inflation report because the main CPI reading was as economists expected. But a look deeper into the report spells trouble for a stock market — and president-elect — that are going to want the Federal Reserve to keep cutting rates throughout next year to keep fueling the bull market. However, in recent months, policymakers have focused more on the headline number, saying shelter costs, which have an outsized influence on core CPI, will come down. But core inflation has remained unusually stubborn, suggesting the Fed may have to hold rates higher than investors were previously anticipating. Core CPI showed a third straight monthly increase of 0.3%, bringing the annual rate to 3.3%.

Persons: Chris Rupkey, Jerome Powell, Rupkey, Donald Trump, —, Jeff Cox Organizations: Federal Reserve, Fed, White, Washington , D.C Locations: Washington ,

☆ Morgan Stanley fund manager picks 3 stocks to buy following Trump's win
▼ + stars: | 2024-11-13 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Aaron Dunn, portfolio manager at Morgan Stanley's U.S. Value Fund , noted the "great deal of volatility" in markets following the election result, as markets reprice "what had been a 50/50 election." Speaking to CNBC's "Squawk Box Asia" on Tuesday, Dunn, who's also co-head of value equity at Morgan Stanley, identified three stocks he is betting on following the election result. It's a diversified play in this, [that] you're getting it for just above the market multiple, with a solid runway of growth," Dunn added. According to FactSet data, of 30 analysts covering the stock, 26 give it a buy or overweight rating. He added that the company should increase its long-term growth rate guidance, given the growth in AI data centers.

Persons: Donald Trump's, Aaron Dunn, Dunn, who's, Morgan Stanley, you've, —, Trump, They're Organizations: Morgan, Value, Biden Administration, Trump, U.S ., MAA, NextEra Energy Locations: Morgan Stanley's, U.S

☆ Bitcoin briefly tops $93,000 for the first time as investors digest postelection gains, inflation data
▼ + stars: | 2024-11-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin rose above $93,000 for the first time on Wednesday, adding to its postelection rally, as traders pored through October inflation data. Traders were digesting the most recent consumer price index, which showed prices increased 0.2% in October, bringing the 12-month inflation rate up to 2.6%. Bitcoin, which has recently benefited from a big postelection rally across risk assets, is seen by many investors as a hedge against potential fiscal policy that could spark inflation. The rest of the crypto market sold off as investors took profits from the past week's rally. Most bitcoin miners, including Mara Holdings , Riot Platforms , CleanSpark and Iren , formerly known as Iris Energy, tumbled double digits.

Persons: cryptocurrency, MicroStrategy, Mara, XRP, Dogecoin, Elon, Donald Trump's Organizations: Traders, Mara Holdings, Energy

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