🇨🇳 Chinese President Xi Jinping says China is ready to strengthen relations with the United States.

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🇺🇸 Powell says he cannot legally be fired. He says, "Not permitted under law."

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🇺🇸 SUMMARY OF FED DECISION (11/7/24):

1. Fed cuts interest rates by 25 bps in 2nd cut of 2024

2. Vote for 25 basis point rate cut was unanimous

3. Fed says risks to goals remain "roughly in balance"

4. Labor market conditions have "generally eased"

5. Fed removes "gaining confidence" on inflation moving to 2%

6. Fed will continue to reduce its balance sheet

We expect another 25 basis point rate cut in December.

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🇮🇳 Apple, $AAPL, iPhone exports from India jumped by a third in the six months through September, per Bloomberg.

The US company exported nearly $6 billion of India-made iPhones, an increase of a third in value terms from a year earlier.

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JUST IN: Elon Musk's net worth rises to $300 Billions

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🔥 S&P 500 CROSSES 6,000 MARK FOR THE FIRST TIME.

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🇺🇸 Donald Trump says he will push to implement a constitutional amendment adding term limits to Congress members.

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🇺🇸 Vice President-elect JD Vance says the United States could drop support for NATO if Europe tries to regulate Elon Musk's X (Twitter).

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🇺🇸 Tesla $TSLA is now a $1 Trillion company up from being worth ~800B at the start of this past week

Tesla's market cap increased this week by more than the total market cap of companies like McDonald's, Adobe, and American Express

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🇺🇸 SEC Chair Gary Gensler should resign immediately following Trump’s victory - American Securities Association

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🇺🇸 US President-elect Donald Trump to "wage war" on drug cartels.

"The drug cartels are waging war on America, and it's now time for America to wage war on the cartels."

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🇺🇸 Key Events This Week:

1. OPEC Monthly Report - Tuesday

2. October CPI Inflation data - Tuesday

3. October PPI Inflation data - Thursday

4. Fed Chair Powell Speaks - Thursday

5. October Retail Sales data - Friday

6. Total of 12 Fed speaker events this week

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