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<ul class="summary-list"><li>Bitcoin has hit a record high as Donald Trump leads in the US presidential election.</li><li>Trump's support for digital assets is boosting investor confidence in cryptocurrencies.</li></ul>Bitcoin hit a record high as Republican candidate Donald Trump took the clear lead in the US presidential election on Tuesday night.The former president's position in the race prompted a rush of so-called <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-trade-us-presidential-election-dollar-treasuries-stocks-crypto-djt-2024-11">Trump trades</a> as investors bet on assets that could gain under another Trump term.One of the winning trades was cryptocurrencies. Trump has <a target="_blank" rel="" class="" href="https://www.businessinsider.com/trump-bitcoin-stance-2024-7?utm_medium=ingest&amp;utm_source=markets">supported digital assets</a> in recent years and his pro-crypto stance is lifting bitcoin to a new record high, wrote Yeap Jun Rong, a market strategist at IG, on election night.<a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> climbed to over $75,000 Tuesday night, and while it slightly pared gains, the currency was up 8% around $74,700 at 12:51 a.m. ET on Wednesday.The digital asset also jumped because a potential Trump presidency is associated with tax cuts, steeper tariffs, a deeper deficit, a higher level of debt, more Treasury issuance, and higher inflation, Kyle Rodda, a senior market analyst at <a target="_blank" href="http://Capital.com">Capital.com</a><a target="_blank" rel=" nofollow" href="http://capital.com/">,</a> wrote in a note.The US dollar is expected to rise on higher Treasury yields because higher inflation would constrain the Federal Reserve's ability to cut rates."The greater inflationary risks and higher levels of debt also support assets like gold and bitcoin, which investors buy to hedge themselves against such trends," Rodda wrote.The crypto industry has been at odds with President Joe Biden's administration over regulations — though the currency surged more than 100% during his term.Crypto investors expect a friendlier reception with Trump and Vice President Kamala Harris, the Democratic candidate, who has also <a target="_blank" rel="" class="" href="https://www.businessinsider.com/kamala-harris-donald-trump-crypto-bitcoin-donors-young-men-2024-9">embraced crypto.</a>Gautam Chhugani, a Bernstein analyst, said in September that <a target="_blank" rel="" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-90000-target-if-trump-wins-november-election-2024-9">bitcoin could hit $90,000 by December</a> if Trump wins the election."Elections remain hard to call, but if you are long crypto here, you are likely taking a Trump trade," Chhugani said.

Bitcoin hits a record high on Trump trade rush

Rupee appreciated 7 paise to 84.22 against the US dollar in morning trade on Tuesday, on a sharp rebound in domestic equities amid improved investor risk appetite. Forex traders said the <keyword id="21663515" type="General" weightage="20" keywordseo="MSCI-equity-index" source="keywords">MSCI equity index</keyword> rebalancing significantly boosted sentiment for Indian equity markets as <keyword id="19932515" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="keywords">foreign institutional investors</keyword> broke a 40-session streak of net selling by purchasing Rs 9,947 crores on Monday, lending robust support to the rupee. Moreover, the win by the incumbent government in Maharashtra, further fueled investor confidence in economic stability, sparking a rally in equity markets. At the interbank foreign exchange, the rupee opened at 84.27 and moved in a tight range and touched an early high of 84.22 against the greenback, registering a gain of 7 paise over its previous close. On Monday, the rupee appreciated 12 paise to close at 84.29 against US dollar. "While Donald Trump's aggressive trade policies loom large, the rupee's outlook remains cautiously optimistic. The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword>'s projection of a GDP growth rebound to 7.6 per cent in Q3 has infused fresh confidence in India's economic trajectory. Additionally, a surge in capital inflows is likely to provide robust support," CR Forex Advisors MD Amit Pabari said. Pabari further said that the RBI's vigilant stance will be critical in managing volatility, with interventions likely at key levels to maintain stability. "Given the factors, the USDINR pair appears to face resistance around the 84.50 level, with expectations of trading within a range of 83.80 to 84.50, leaning toward a downside bias," he said. On the global front, US Treasury Secretary nominee Scott Bessent's fiscal deficit reduction agenda capped US Treasury yields, Pabari said. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.28 per cent at 107.11. Brent crude, the global oil benchmark, rose by 0.33 per cent to USD 73.25 per barrel in futures trade. In the domestic equity market, the 30-share equity benchmark Sensex jumped 167.76 points or 0.21 per cent to 80,277.61 points in early trade, while Nifty jumped 55.80 points or 0.23 per cent to 24,277.70 points. Foreign Institutional Investors (FIIs) turned net buyers in the capital markets on Monday, purchasing shares worth Rs 9,947.55 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-oxygenos-15-update-now-rolling-out-with-flux-themes-improved-ai-features-and-more/articleshow/115657313.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-oxygenos-15-update-now-rolling-out-with-flux-themes-improved-ai-features-and-more/articleshow/115657313.cms" target="_blank">OnePlus Open OxygenOS 15 update now rolling out with Flux Themes, improved AI features and more</a><a href="https://www.businessinsider.in/tech/news/microsofts-ai-powered-recall-feature-is-now-rolling-out-to-copilot-pcs/articleshow/115654136.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/microsofts-ai-powered-recall-feature-is-now-rolling-out-to-copilot-pcs/articleshow/115654136.cms" target="_blank">Microsoft’s AI-powered Recall feature is now rolling out to Copilot+ PCs</a><a href="https://www.businessinsider.in/business/telecom/news/jio-airtel-and-vi-lost-nearly-11-million-subscribers-in-september-2024/articleshow/115565541.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/jio-airtel-and-vi-lost-nearly-11-million-subscribers-in-september-2024/articleshow/115565541.cms" target="_blank">Jio, Airtel and Vi lost nearly 11 million subscribers in September 2024</a>

Rupee rises 7 paise to 84.22 against US dollar in early trade

<ul class="summary-list"><li>Trump's election win has sent the US stock market to fresh highs.</li><li>Morgan Stanley says three risks could upend the ongoing Trump trade.</li></ul>Equity investors have embraced Donald Trump's return to the White House, but the post-election rally isn't entirely risk-free.So far, US indexes have hit <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-election-win-stock-market-today-record-high-sp500-dow-2024-11">new highs</a> as investors look ahead to what Trump's promised policies mean for earnings growth. But while market momentum remains firmly upward, Morgan Stanley outlined three risks that could upend it.First, a significant jump in Treasury bond yields could stir anxiety among equity investors, the bank said.Trump's election has already sent yields surging, as Wall Street expects his policies to boost inflation, keeping interest rates elevated. As it became clear Trump won last week, the 10-year note jumped as much as 21 basis points to 4.47% on November 6.So far, this hasn't been enough to discourage stock investors, but Morgan Stanley suggests that further increases could spell trouble for equities. For instance, concern over the government's ballooning deficit could drive higher yields, the bank said.JPMorgan analysts share this outlook, noting that the stock market rally would <a target="_blank" href="https://markets.businessinsider.com/news/stocks/treasury-bond-yields-selloff-risk-trump-trade-tariff-immigration-tax-2024-11">face fatigue once bond yields reach near 5%</a>.<div type="image" title="Morgan Stanley chart comparing bond term premium with S&amp;P 500 P/Es" height="1138" width="2190" msid="115223450" hostid="261" sizebytes="75850"></div>Second, strength in the US dollar might mean issues for large-cap stocks.After the election, the <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-11-06/dollar-rises-to-highest-since-july-as-polls-close-in-key-states">Bloomberg dollar index surged</a> by the most in four years, reaching its highest since November 2023.As with bond yields, the greenback is surging on the prospect that US interest rates will remain higher for longer under Trump. Meanwhile, foreign currencies fell against the dollar over worries that the president-elect will implement wide-sweeping tariffs on all US trade."If dollar strength continues at the current pace into year-end, it could slow down multinationals' EPS growth for 4Q24 and 2025," Morgan Stanley wrote, later adding: "This would likely be felt more in the large cap indices (where mega cap weights tend to have higher foreign sales exposure) than in the average stock which is why the broadening out can continue under the surface even if the dollar proves to be a headwind."Third, equities keep getting more overpriced.As this year's bullish investors raced to gain exposure to market themes tied to artificial intelligence, the <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a> has increasingly moved away from its fundamentals."More specifically, the y/y change in the S&amp;P has rarely been this disconnected from earnings revision breadth," the analysts wrote, adding: "Once again, this is more of a consideration for the major indices than for the average stock but it does suggest that more upside in multiples is likely contingent on the data confirming a reacceleration in growth."But this shouldn't be treated as a warning signal to turn bearish, Piper Sandler analysts said in October. Even with the S&amp;P overvalued by 8% last month, a downturn catalyst would need to appear to crush <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-overvalued-sp500-bullish-earnings-momentum-rally-valuations-2024-10">market momentum</a>. That could include a sudden jump in interest rates or inflation.

3 risks that could derail the Trump trade in stocks, Morgan Stanley says

<ul class="summary-list"><li>US stocks were lower Monday as investors braced for the US presidential election. </li><li>Record voter turnout is expected, with over 76 million early votes already cast.</li></ul>US stocks traded slightly lower on Monday as investors prepared for an action-packed week of events.All eyes are on the US Presidential election, with polls set to close Tuesday evening. So far, more than 76 million Americans have voted via mail-in ballots or via early in-person voting, suggesting potential record turnout this year. After <a target="_blank" class="" href="https://www.businessinsider.com/harris-trump-iowa-polling-lead-swing-states-2024-11">a shock Iowa poll showed Kamala Harris leading the state</a> against Donald Trump over the weekend, betting odds have tightened in the race after Trump spent the weeks leading up to the vote far ahead of Harris. For a full rundown of the implications for the economy and stock market based on who wins the election, read BI's deep dive on <a target="_blank" class="" href="https://www.businessinsider.com/election-preview-consumer-outlook-how-trump-harris-housing-taxes-2024-11">the potential impacts here.</a>After the election, investors will shift their attention to the Federal Reserve. The central bank's FOMC meeting is scheduled for Wednesday and Thursday, <a target="_blank" class="" href="https://www.businessinsider.com/interest-rate-cuts-federal-reserve-election-jerome-powell-inflation-jobs-2024-11">with an interest rate decision expected on Thursday.</a>According to the CME FedWatch Tool, markets see a 96% chance of the Fed cutting rates by 25 basis points.Investors will also pay attention to initial jobless claims and productivity data, set to be released Thursday morning.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Monday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,711.31, down 0.31%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 41,893.80, down 0.38% (-158.39)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,121.72, down 0.62%</li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/berkshire-hathaway-apple-stake-cut-quarterly-earnings-2024-11">Berkshire Hathaway trimmed its stake in Apple again. The conglomerate is now sitting of $325 billion in cash.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/us-oil-opec-crude-production-record-oil-prices-commodity-market-2024-11">The US is pumping more oil than ever, and it's complicating things for crude-exporting countries.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/nvidia-replace-intel-dow-jones-industrial-average-2024-11">Nvidia will replace Intel in the Dow Jones Industrial Average, and Sherwin-Williams will replace Dow.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/wall-street-election-predictions-professional-investor-survey-2024-11">Wall Street professionals expect Donald Trump to win the Presidential election, according to a new survey.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil rose 2.59% to $71.29 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was higher by 2.42% to $74.87 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> jumped 0.19% to $2,754.30 an ounce.</li><li>The 10-year Treasury yield declined 11 basis points to 4.284%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> decreased 0.17% to $68.627.</li></ul>

Stock market today: Indexes trade lower as investors brace for US election

<ul class="summary-list"><li>Reddit stock surged as much 70% as it made its public-trading debut on Thursday.</li><li>The stock was priced at $34 a share at its IPO on Wednesday, the top end of expectations.</li></ul>Shares of Reddit soared as it made its highly anticipated public-trading debut on the New York Stock Exchange.The stock climbed as much as 70% to $57.80 shortly after trading began at 1:15 p.m. ET on Thursday. Shares trade on the New York Stock Exchange under the ticker RDDT.On Wednesday, the <a href="https://markets.businessinsider.com/news/stocks/reddit-ipo-price-stock-offering-social-media-retail-2024-3?_gl=1*3plsh*_ga*MjA5NTAyMzYyOS4xNjYyNDcwMDc5*_ga_E21CV80ZCZ*MTcxMTAyNTA5MC4xNzY3LjEuMTcxMTAyODExMC4wLjAuMA..&amp;utm_source=copy-link&amp;utm_medium=referral&amp;utm_content=topbar">stock was priced at $34 a share</a>, raising $748 million near the upper end of the company's target. That valued the social platform at about $6.4 billion.Reddit's latest S-1 filing showed that its revenue surged 20% year over year in 2023 to hit $804 million, with the majority of that coming from advertising on the site. The company remains unprofitable, however, and its net losses hit $90.8 million last year.Reddit had over 73 million daily average users last quarter.The company initially filed confidentially to go public in 2021. The IPO market froze soon after as the Federal Reserve embarked on its rate-hike campaign and sparked a difficult bear market for stocks that lasted throughout 2022. Last year was also mostly dormant for new offerings, with <a href="https://markets.businessinsider.com/news/stocks/arm-ipo-instacart-market-dot-com-bubble-investors-finance-stocks-2023-9">splashy names like Arm and Instacart</a> failing to ignite a bigger wave of initial public offerings.Ahead of its IPO, Reddit said it would allocate 8% of its 22 million shares to certain users and moderators, following a similar playbook to companies such as Robinhood and Airbnb, which let users in on their initial offerings. The move <a href="https://markets.businessinsider.com/news/stocks/reddit-ipo-retail-investor-commentary-share-offering-wallstreetbets-day-traders-2024-3?_gl=1*1x7ywq6*_ga*MjA5NTAyMzYyOS4xNjYyNDcwMDc5*_ga_E21CV80ZCZ*MTcxMTAyNTA5MC4xNzY3LjEuMTcxMTAyODM0Ny4wLjAuMA..">was met with disinterest by some of the platform's users across the site's top stock and investing subreddit</a>.

Reddit jumps 70% in highly anticipated public-trading debut

<ul class="summary-list"><li>Expedia stock climbed 8% while Uber stock fell more than 3% in premarket trading on Thursday.</li><li>Uber spoke with advisors about a potential takeover in recent months, The Financial Times reported.</li></ul>Expedia stock jumped as much as 8% in Thursday's premarket, while Uber tumbled more than 3% following a report the ride-hailing giant recently explored a takeover of the travel group.<a target="_blank" class="" href="https://www.businessinsider.com/5-reasons-why-uber-is-now-profitable-2024-8">Uber</a> met with advisors in recent months to discuss whether an Expedia acquisition would be feasible and how it might be structured, The Financial Times reported late Wednesday, citing three sources familiar with the talks.A third party raised the idea of buying Expedia to Uber, sources told the FT, adding that merger talks were nascent and a deal might not materialize. One source told the newspaper that Uber hasn't formally approached Expedia, and there were no ongoing discussions between the two companies.<a target="_blank" class="" href="https://www.businessinsider.com/inside-the-happiest-workplace-in-the-uk-where-staff-can-get-a-14000-travel-allowance-2016-3">Expedia</a>, which owns the eponymous travel-booking website as well as Hotels.com and Vrbo, would be Uber's biggest acquisition. The company was worth nearly $20 billion at Wednesday's close, less than one-eighth of Uber's $172 billion valuation.The flights-and-hotels specialist generated close to $13 billion of revenue and just over $1 billion of operating income last year, as more than 350 million room nights were booked using its platforms. Uber posted $9.9 billion of revenue and $652 million of operating income in 2023, as users booked more than 2.6 billion trips.A merger would contribute to Uber's ambition of becoming a "<a target="_blank" class="" href="https://www.businessinsider.com/uber-amazon-of-transportation-inside-effort-2021-9">super app</a>." Previous acquisitions such as Postmates and Transplace have allowed it to offer car, plane, train, and boat rides on its platform, as well as restaurant and grocery delivery. It has also moved into corporate logistics and advertising.Notably, <a target="_blank" class="" href="https://www.businessinsider.com/uber-ceo-dara-khosrowshahi-helped-turn-billion-dollar-profit-2024-2">Uber CEO Dara Khosrowshahi</a> ran Expedia between 2005 and 2017 and remains a non-executive director, suggesting any deal would likely be friendly rather than hostile.

Expedia stock jumps on report that Uber explored a takeover of the travel platform

<ul class="summary-list"><li>Amazon rose as much as 7.6% on Friday, its biggest intraday gain since early February.</li><li>The stock surge was driven by better-than-expected third-quarter earnings, as well as a strong outlook.</li></ul><a target="_blank" href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> stock saw its best day in nine months on Friday.It climbed as much as 7.6% to $200.50, its steepest intraday gain since Feb. 2, after a strong third-quarter earnings report. Shares traded around $199 as of 12:30 p.m. in New York, less than 1% from all-time closing highs set in July.The tech titan <a target="_blank" href="https://www.businessinsider.com/amazon-stock-earnings-report-call-live-updates-2024-10">beat estimates</a> for both revenue and earnings-per-share, led by strength in cloud computing and cost-efficiency efforts. It also forecasted fourth-quarters sales in line with Wall Street expectations.In a turnaround from last year's record low sales growth, Amazon Web Services — the firm's AI-driven cloud platform — maintained stable momentum. Cloud revenues rose 19%, and CEO Andy Jassy indicated that Amazon's blowout $75 billion investment for 2025 will largely benefit AWS.During the firm's earnings call, Jassy explained that AI was driving the investment boost.He expressed that the technology is "a really unusually large, maybe once-in-a-lifetime type of opportunity. And I think our customers, the business, and our shareholders will feel good about this long term; that we're aggressively pursuing it."The company's cost cutting efforts have allowed the firm to pursue larger investments in these areas. With more efficiencies suggested ahead, Bank of America expects continued margin expansion through 2025.Amazon also delivered a retail beat, despite low expectations. Although Wall Street was concerned that headwinds would weaken the firm's consumer base, its online store grew 7% year-over-year, outpacing consensus estimates of 4%.According to the bank, efficiencies in the cost of servicing customers and ad growth helped drive the estimate-beat.

Amazon stock jumps most in 9 months as cost cuts, cloud spark earnings beat

The rupee climbed 9 paise to 83.37 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> in early trade on Friday, tracking strong sentiment in the <keyword id="20226142" type="General" weightage="20" keywordseo="domestic-equity-markets" source="keywords">domestic equity markets</keyword> and a weak American currency against major rivals overseas. <keyword id="20024982" type="General" weightage="20" keywordseo="forex-traders" source="keywords">Forex traders</keyword> said the outflow of foreign funds and elevated level of crude oil prices, however, weighed on the Indian currency. At the interbank foreign exchange, the domestic unit opened strong at 83.40 and touched the intra-day peak of 83.36 against the greenback. The local unit later traded at 83.37 against the dollar in the morning deals, registering a gain of 9 paise from its previous closing level. The rupee had settled 3 paise lower at 83.46 against the dollar on Thursday. According to Gaurang Somaiya, Forex and bullion analyst, Motilal Oswal Financial Services Ltd, the dollar was weighed down against major crosses after the US Federal Reserve kept the key interest rate unchanged for the sixth consecutive time. Also, the ongoing pressures and a tight labour market indicated a stall in progress toward bringing inflation back to its 2 per cent target this year. Analysts also said market participants are expected to keep a close watch on the US non-farm payroll data to be released on Friday. Besides, weekly unemployment claims, trade balance and factory order data from the US are likely to provide further cues. "Today, the focus will be on the non-farm payrolls data, which is expected to come in marginally lower and that could weigh on the greenback. Apart from payrolls, services PMI number is also likely to trigger volatility for the dollar. We expect USD-INR (Spot) to trade sideways and quote in a range of 83.20-83.50," Somaiya said. India's manufacturing PMI fell to 58.8 in April 2024 from 59.1 in the previous month, a monthly survey said on Thursday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI), however, recorded the second fastest improvement in operating conditions in three-and-a-half years supported by buoyant demand. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.04 per cent to 105.13. Brent crude futures, the global oil benchmark, rose 0.36 per cent to USD 83.97 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 463.87 points or 0.62 per cent higher at 75,074.98. The broader NSE Nifty soared 136.65 points or 0.60 per cent to 22,784.85. Foreign institutional investors (FIIs) were net sellers in the capital markets on Thursday, as they sold shares worth Rs 964.47 crore on a net basis, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms" target="_blank" style="">T20 World Cup: Here are the squads announced by major participating countries so far</a><a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a>

Rupee jumps 9 paise to 83.37 against US dollar in early trade

<ul class="summary-list"><li>Some shoppers and businesses are stockpiling goods to avoid potential price hikes from tariffs.</li><li>President-elect Donald Trump has proposed sweeping tariffs on imported goods.</li></ul>Kristen Hull bought a new car last weekend.The 38-year-old accountant had been planning to do it in six months. But following Donald Trump's <a target="_blank" href="https://www.businessinsider.com/how-trump-won-election-high-prices-cost-of-living-unemployment-2024-11">presidential election victory</a>, Hull heard that car costs could surge if his <a target="_blank" href="https://www.businessinsider.com/cost-expensive-goods-price-impact-presidential-election-scenarios-trump-harris-2024-10">tariff plans</a> are enacted."I was just thinking, if not now, maybe in six months it might be way out of my price range," Hull told Business Insider. She's also looking into buying a new laptop and stocking up on winter clothing."I'm really concerned about the cost of things, and so I just went ahead and took the jump."On the campaign trail, Trump proposed a 60% tariff on imports from China and 10% to 20% on goods from other countries. It's still unclear how and when he will <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariffs-higher-inflation-fed-interest-rates-taxes-mortgage-rates-2024-11">enact the tariffs</a> and how big he will go."Companies have made clear in many cases that they will pass the higher prices on to consumers," said Indi Dutta-Gupta, a fellow at both Georgetown University and the Roosevelt Institute, a left-leaning think tank.Firms, including AutoZone and Columbia Sportswear, <a target="_blank" href="https://www.businessinsider.com/companies-raising-prices-trump-tariffs-inflation-goods-getting-more-expensive-2024-11">have already indicated</a> they will raise prices if tariffs are enacted.Some shoppers and small businesses told BI they are also preparing. <a target="_blank" class="" href="https://www.tiktok.com/@antiplasticlady/video/7435678703147076910?amp%3Bt=1731358479116&amp;q=tariffs%20under%20trump">TikTok videos</a> recommending viewers stock up on certain goods like hair, makeup, and clothing products are racking up thousands of views, and panicked comments.Karoline Leavitt, a Trump-Vance transition spokeswoman, told BI, "Trump instituted tariffs against China that created jobs, spurred investment, and resulted in no inflation."Considering the larger scale of Trump's proposals this time around, trade experts have identified goods, including car parts, apparel, and electronics, as <a target="_blank" class="" href="https://www.businessinsider.com/how-trump-tariffs-will-impact-prices-technology-clothes-appliances-furniture-2024-11">products at risk of getting more expensive</a> under Trump's tariff proposals."It's going to be a big shift if that does come to fruition," Hull said. "We pay tariffs on some things anyway, but the talk of the massive increase is a little bit alarming to me."<h2 id="55855a54-34f3-4348-894e-b4b4454ea037">Adopting "prepper" methods and stocking up on groceries</h2>One 42-year-old mother of three in Southern Indiana, whose identity is known to BI but withheld over privacy concerns, is leaning back into her prepper roots. Before the pandemic and Trump's second run, she tried to forget the "craziness" of her old-school <a target="_blank" class="" href="https://www.businessinsider.com/what-are-doomsday-preppers-why-are-they-right-wing-2019-8">doomsday prepper</a> background. She was raised by "one of the original conspiracy theorist guys who had serious distrust of the government," she said.But she's leaned back into it. She estimates that her family has spent upwards of $2,800 to $3,000 slowly preparing and stockpiling goods, including everything from buying meats from a local butcher and deep-freezing them to dehydrating food for a longer shelf life. She got started early: As soon as she had a "gut feeling" Trump was running again, her family began their slow stockpile."We aren't like the ones you used to see on Discovery Channel with bunkers and huge stashes of stuff, but we have enough to get through 3-5 years at least of hard times," she said.Dutta-Gupta said it's reasonable for families to want to stock up on imported goods, as trade wars and tax changes could reduce incomes and raise the cost of living.Marissa Garcia, 38, said she didn't pay much attention to tariffs prior to the election.After Trump's victory, she said, "I started making a list of the potential items that could be affected, and then narrowing them down to the actual things that would affect my family, the things that I would be sad about if we couldn't afford next year."She said that the week after the election, she "went to the store and made my first of hopefully many shopping trips to start stocking up on them."Items on Garcia's list include frozen fruits and vegetables, garlic, coffee, tea, and bread, all of which would be subject to tariffs. She also said she's planning to stock up on hygiene supplies like sanitizer and masks. These purchases are costing around an additional $50 on her grocery trips, and although money is tight — she got laid off last year and is freelancing as she looks for a permanent role — she said she anticipates an even greater financial strain under Trump's proposed policies.An <a target="_blank" class="" href="https://www.americanprogressaction.org/article/trumps-tariff-would-cost-the-typical-american-household-roughly-1500-each-year/">analysis</a> from the left-leaning Center for American Progress found that Trump's tariff plans would cost the average household an extra $1,500 a year, and the nonpartisan Peterson Insitute <a target="_blank" class="" href="https://www.piie.com/sites/default/files/2024-09/wp24-20.pdf">estimated</a> that Trump's proposed 60% tariff on Chinese goods would boost inflation by 0.4 percentage points in 2025.Garcia said that learning of those estimates alarmed her. "My family cannot afford that. This year was rough enough, and that was really surprising and also just a scary feeling," she said.<h2 id="d8a08791-1bb1-4d36-b97a-e72031c68494">Small business owners are trying to stock up, too</h2>Worries about potential tariffs are already taking a financial toll on Beatrice Barba, 39, who owns a small business that produces plastic-free cups.Barba said she imports most of the materials she needs to produce her cups from China. She's considering purchasing a year's worth of inventory now, which she estimates would cost up to $200,000 plus the price of additional warehouse space.She said taking that risk is worth it because she wants to do everything she can to ensure she does not have to raise the price of her goods down the road.As a longer-term solution, she's working with a developer to build a health advice app — a business she plans to prioritize because an app would not be subject to tariffs.Lisa Evans, a 43-year-old salon owner in Jacksonville, Florida, is examining where her products are sourced. Even hair color dyes manufactured in the US might contain ingredients from abroad, and their prices could surge.Much of the hair in already-costly extensions is sourced from China, and she worries how much more expensive that will get. At this point, she's focusing on padding inventory going into the next year."It's like hope for the best, but prepare for the worst," she said.Jonathan Gold, vice president of supply chain and customs policy at the National Retail Federation, told BI that even though it's still unclear what exactly Trump will implement, it's not a bad idea for both companies and consumers to prepare for any impacts."We're in a very different economy now than when we were back in 2018 when the initial China tariffs were put in place, and the scale and scope of what is being proposed is going to impact everything," Gold said. "Unfortunately, companies aren't able to absorb all of that, so they're going to have to pass on some of those costs to consumers."Javon Ford, a 30-year-old chemist in Los Angeles, said that tariffs can create a "roadblock" to procuring raw materials. Ford is considering stocking up on color pigments for cosmetics and is gearing up to contact suppliers and order materials before January 2025. But it's impossible to stock up on everything or know what might be in demand over the next four years — so tariffs could still mean adjusting prices to keep profit margins consistent.With so much uncertainty regarding Trump's tariff proposals, it's difficult to plan. For Hull, the recent car buyer, all she said she can do is budget and hope she's prepared for if and when higher tariffs come."It's mostly just waiting to see what happens," she said, "and just trying to get my savings account back up a little bit."Are you stocking up on goods or changing your spending habits because of potential tariffs? Contact these reporters at <a target="_blank" href="mailto:jkaplan@businessinsider.com">jkaplan@businessinsider.com</a> and <a target="_blank" href="mailto:asheffey@businessinsider.com">asheffey@businessinsider.com</a>.

Meet the Americans stocking up on cars, skincare, and toilet paper ahead of Trump's potential trade restrictions

<ul class="summary-list"><li>Coca-Cola reported a decline in revenues in its third-quarter earnings on Wednesday.</li><li>Despite the slide, revenue was higher than analysts' expectations.</li></ul>Coca-Cola posted its first quarterly decline in revenue this year in its third-quarter earnings on Wednesday.Net revenues fell by 1% to $11.9 billion for the three months to September 30. The results beat analysts' predictions, which had forecast revenues of $11.65 billion for the beverage giant.Earnings per share declined 7% to $0.66, lower than the analyst consensus of $0.74.Shares dipped more than 2% in premarket trading, but the stock is up 16% this year.Coca-Cola said its slightly better-than-expected revenue performance had been driven by a 10% jump in price/mix, the amount the company adjusts prices, versus a 2% decline in concentrate sales.The results were boosted by an 11% jump in sales of Coca-Cola Zero Sugar across all markets."Our business continues to demonstrate resilience in the face of a dynamic external environment," said CEO James Quincey."We are encouraged by our year-to-date performance and our system's ability to manage near-term challenges while also remaining focused on long-term growth opportunities."The soda giant also signaled that there was growing potential in the non-carbonated drink market, pointing to its success as an <a target="_blank" class="" href="https://www.businessinsider.com/inside-coca-cola-company-2024-olympics-marketing-strategy-powerade-athletes-2024-7">official sponsor</a> of the 2024 Paris Olympics."During the opening and closing ceremonies in Paris, a special-edition smartwater gold bottle for athletes quickly garnered 42 million impressions and contributed to smartwater gaining both volume and value share during the quarter," the company said.Powerade, Fuze Tea, and Topo Chico were also highlighted as regional leaders in its plans to evolve a "total beverage portfolio."In recent quarters, strong international sales have helped boost Coca-Cola's results, offsetting weaker consumer demand in the US. However, in its third quarter, unit case volume declined in Europe, Middle East &amp; Africa and Asia Pacific, and remained even in Latin America.Investors will look to the soft drink maker's earnings for insight into consumer spending behavior heading into the year-end.US consumers are thought to have spent excess savings from the pandemic and are now grappling with accumulated price increases driven by global inflation.In September, core retail sales in the US grew by 2.4%. However, many <a target="_blank" class="" href="https://www.businessinsider.com/companies-are-doubling-down-on-loyalty-programs-2024-8">retailers have taken creative approaches</a> to incentivizing spending, including loyalty programs and <a target="_blank" class="" href="https://www.businessinsider.com/consumer-spending-decline-how-retailers-respond-inflation-prices-walmart-costco-2024-6">exciting product offerings</a>.Retailers, including Costco, PepsiCo, and Walmart, have been <a target="_blank" class="" href="https://www.businessinsider.com/starbucks-offer-fewer-deals-under-new-ceo-2024-10">cutting prices</a> amid a pattern of more cautious consumer spending this year.The results come after Coca-Cola's rival PepsiCo posted weaker-than-expected sales for the second quarter in a row. PepsiCo lowered its full-year organic sales outlook, saying it now expects a low-single-digit rise, down from the previously forecast 4% growth.PepsiCo executives said the "cumulative effects of inflationary pressures continue to impact budgets and spending patterns."

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