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<keyword id="19995882" type="General" weightage="100" keywordseo="Berkshire-Hathaway" source="keywords" meta.keywordsubtype="org" meta.entityname="Berkshire Hathaway" meta.hostid="261" meta.entityid="Berkshire Hathaway">Berkshire Hathaway</keyword> Inc., the conglomerate led by American Businessman <keyword id="19921921" type="General" weightage="20" keywordseo="Warren-Buffett" source="keywords">Warren Buffett</keyword>, has made history by becoming the first U.S. non-tech company to surpass the USD <keyword id="6852179" type="General" weightage="20" keywordseo="1-trillion" source="Orion">1 trillion</keyword> mark in <keyword id="20000950" type="General" weightage="20" keywordseo="market-capitalisation" source="keywords">market capitalisation</keyword>. The <keyword id="19998639" type="General" weightage="20" keywordseo="stock-price" source="keywords">stock price</keyword> of Berkshire Hathaway surged by USD 3.96 on the New York Stock Exchange, closing at USD 464.59 per share on Wednesday. With this milestone, Berkshire Hathaway joins an exclusive group of six other companies, primarily from the <keyword id="19896148" type="General" weightage="20" keywordseo="technology-sector" source="keywords">technology sector</keyword>, that have crossed the USD 1 trillion threshold. This list includes Apple, Nvidia, Microsoft, Alphabet (the parent company of Google), Amazon, and Meta Platforms (the parent company of Facebook). The stocks of Berkshire Hathaway have seen significant growth this year, appreciating by more than 28 per cent on the New York Stock Exchange. Despite this achievement, the broader U.S. stock markets faced a downturn on Wednesday. Both the S&amp;P 500 and the Nasdaq indices declined, largely due to profit-taking by investors. This market pressure in the U.S. had a ripple effect across Asian markets, where major indices also faced selling pressure on Thursday morning. In Asia, Japan's Nikkei index fell by 0.45 per cent, while Hong Kong's Hang Seng index declined by 0.55 per cent. Taiwan's Taiwan Weighted Index emerged as the largest loser among the major Asian markets, dropping by 1.32 per cent. In the Indian markets on Wednesday, the Nifty 50 index at the National Stock Exchange (NSE) touched a record new lifetime high of 25,114.05 during the trading. The sectoral stocks of IT contributed the most to the fresh lifetime high ever of Nifty. Rate cut hopes in the US and subsequent buying from foreign portfolio investors supported the market. The sectoral index of IT was trading with a lead of 1.96 per cent with stocks of major <keyword id="20062339" type="General" weightage="20" keywordseo="IT-companies" source="keywords">IT companies</keyword> such as LTIMindtree, Wipro, and Infosys are trading as the biggest gainers in the trade. <keyword id="19925636" type="General" weightage="20" keywordseo="stock-market" source="keywords">Stock market</keyword> opened nearly flat on Wednesday with Nifty starting above 25,000 and BSE Sensex opening at 81,800. Over the past few trading sessions, the Nifty was in the tight range despite the positive global cues. "Finally it has broken through to fresh all-time highs. This opens up possibilities for a strong upmove now. Sector-wise, domestic cyclicals will lead the way while IT is coming back in favour of selective name," said Ajay Bagga, Market and Banking expert.

Warren Buffett-led Berkshire Hathaway becomes first non-tech US company to cross USD 1 trillion market cap

<ul class="summary-list"><li>Dogecoin has soared 157% since Trump's election win, reaching a $53 billion market valuation.</li><li>The rise aligns with a broader crypto frenzy, as investors expect Trump to boost the market.</li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/doge-usd">Dogecoin</a> is back. The meme-inspired cryptocurrency has surged as much as 157% since President-elect Donald Trump's win last week, catapulting the token to a market valuation of about $53 billion.That makes dogecoin worth more than <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/f-stock">Ford</a>, a 121-year-old company that generated $176 billion in revenue last year and was worth about $47 billion on Monday.Other notable companies dogecoin is now bigger than include <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/all-stock">Allstate</a>, <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/kdp-stock">Keurig Dr Pepper</a>, and <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/kmb-stock">Kimberly-Clark.</a>Dogecoin hit a high of $0.4355 on Tuesday morning, representing its highest level since June 2021. Dogecoin is still 33% below its record high of around $0.72 reached in May 2021.The surge coincides with <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-record-price-outlook-crypto-trump-election-digital-assets-altcoins-2024-11">a broader frenzy for cryptocurrencies,</a> with investors expecting Trump to unleash a wave of deregulation that favors the industry <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-crypto-industry-donald-trump-election-reserve-regulation-sec-2024-11">during his second term</a>.Trump said in July <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/trump-bitcoin-cryptocurrency-election-outlook-crypto-funding-regulation-biden-novogratz-2024-7?utm_medium=ingest&amp;utm_source=markets">he would be the "crypto president"</a> and his recent win has sparked a record rally in bitcoin, with the cryptocurrency surging to record highs near $90,000 on Monday.The broader crypto market hit a total valuation of $3 trillion on Tuesday, representing a gain of about $700 billion since the election last week.The top five biggest cryptocurrencies by market cap are bitcoin, ethereum, tether, solana, and BNB, also known as binance coin, with dogecoin sitting in sixth place. Elon Musk has also been closely tied to dogecoin, having previously dubbed himself the "dogefather."Musk was a staunch supporter of Trump in the election, and has been spotted at the President-elect's Mar-a-Lago residence over the past week, with expectations that the CEO will have at least some say in decisions made by the coming administration. Musk has said he envisions a role during Trump's second term <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-rally-elon-musk-save-department-government-efficiency-2024-10">as head of the "Department of Government Efficiency"</a> — a made-up department that also makes the acronym DOGE — that would focus on massively cutting costs in the federal government.

Dogecoin surpasses Ford in value as Trump's win propels total crypto market cap to $3 trillion

<ul class="summary-list"><li>Tesla stock reached a $1 trillion valuation on Friday for the first time since April 2022.</li><li>Tesla stock surged 27% since Trump's election win on Tuesday, boosting Elon Musk's net worth.</li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> stock hit a $1 trillion market valuation for the first time since April 2022.The stock surged as much as 7% on Friday to an intra-day peak of $319.44, and shares have soared 27% since Donald Trump was <a target="_blank" class="" href="https://www.businessinsider.com/election-results-trump-harris-presidential-election-2024-11">declared the winner of Tuesday's presidential election.</a>Tesla CEO Elon Musk was a huge back of Trump's campaign in its final few months and donated over $100 million to efforts to reelect him.The massive gain in Tesla stock this week catapulted Musk to a net worth of about $300 billion, <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/wealthiest-people-in-world-net-worth-increase-trump-victory-stocks-2024-11">solidifying his position as the world's richest person,</a> according to Bloomberg data.Wedbush analyst Dan Ives said Trump's win, while potentially negative for the broader electric vehicle sector, could significantly benefit Tesla.That's because while federal EV rebates and tax incentives would likely be withdrawn during Trump's second term, Tesla can navigate such a scenario, while its competitors will likely struggle. "Tesla has the scale and scope that is unmatched in the EV industry and this dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players (BYD, Nio, etc.) from flooding the US market over the coming years," Ives explained in a note this week.A potential wave of deregulation could also fast-track Tesla's Full Self-Driving platform to market. Tesla's premium valuation has largely hinged on its progress in delivering a fully autonomous vehicle, so investors would likely cheer any progress on that front.Shares of Tesla are up 26% year-to-date, in-line with gains of the <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> and <a target="_blank" class="" href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq 100.</a>

Tesla hits a $1 trillion market cap after the stock rallies 27% following Trump's election win

<ul class="summary-list"><li>Apple's iPhone 16 launch will drive the company to a $4 trillion valuation by 2025, Wedbush said.</li><li>Wedbush analyst Dan Ives raised Apple's price target to $300, citing the iPhone 16's AI features.</li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/stocks/AAPL-stock">Apple's</a> upcoming launch of the <a target="_blank" class="" href="https://www.businessinsider.com/guides/tech/iphone-16">iPhone 16</a> will help catapult the company to a $4 trillion valuation in 2025, according to Wedbush Securities.Wedbush analyst Dan Ives bumped the firm's Apple price target to $300 from $285, representing potential upside of 38% from current levels.Ives said the iPhone 16 will be Apple's "most successful iPhone unit launch in its history" thanks to its AI-focused features, dubbed <a target="_blank" class="" href="https://www.businessinsider.com/apple-betting-ai-reverse-iphone-sales-samsung-google-apple-intelligence-2024-7">Apple Intelligence.</a>"We believe the careful rollout of Apple Intelligence features over the next 6-9 months is the right strategy to catalyze a major upgrade opportunity within Apple's installed base," Ives said.The Wall Street analyst expects iPhone sales growth to be in the high-single-digits over the next 12 to 18 months, in what will ultimately become a replacement "super cycle.""We are continuing to see further indications across the Asia supply chain that this iPhone upgrade cycle could be a historical one setting the stage for a supercycle as currently we estimate roughly 300 million iPhones globally have not upgraded in over 4 years," Ives explained.That pent-up demand among iPhone users who need a new phone will ultimately help fuel iPhone 16 unit sales of 240 million in 2025, he predicted.Ives was also encouraged by Apple's decision to leave iPhone prices unchanged for its new 16 and 16 Pro models, which was "a smart strategic move to not miss out on any upgrades."In China, Apple should see success with its iPhone 16 as it is likely to partner with Baidu for a large language model to fuel its Apple Intelligence features, according to Ives."Apple launching AI coupled by a massive pent up upgrade cycle is creating this new era of iPhone growth including in the key China region which has been a drag on the top-line over the past year," Ives said.Apple stock is down about 1.5% since it unveiled its iPhone 16 lineup on Monday. The shares were trading at $218.25 Tuesday morning.

Apple will hit a $4 trillion market cap in 2025 as the iPhone 16 sparks big upgrade cycle, Wedbush says 

<ul class="summary-list"><li>US stocks were down Wednesday morning before the week's high-profile earnings kicked off. </li><li> Snap, Advanced Micro Devices, and Alphabet report third-quarter results after the bell.</li></ul>US stocks dipped on Tuesday as traders waited for a slew of <a target="_blank" class="" href="https://www.businessinsider.com/big-tech-earnings-microsoft-amazon-apple-alphabet-meta-2024-10">corporate earnings</a> <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-tech-earnings-gdp-inflation-jobs-report-economy-2024-10">reports and economic data</a> releases. Major indexes edged lower and bond yields rose. The 10-year Treasury yield was up four basis points to 4.326%. Earnings season on Wall Street continues to gain steam, with <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/snap-stock">Snap</a>, <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/amd-stock">Advanced Micro Devices</a>, and Google parent <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/googl-stock">Alphabet</a> among the major tech firms set to report earnings after the bell. The earnings deluge continues on Wednesday with <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/meta-stock">Meta</a> and <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a> after the closing bell. Apple and Amazon will report on Thursday. Third-quarter earnings have been strong so far. Of the 37% of S&amp;P 500 companies that have released financials, 75% have beat earnings estimates, on par with the 10-year average, according to a <a target="_blank" class="" href="https://insight.factset.com/sp-500-earnings-season-update-october-25-2024">FactSet</a> analysis.This week's economic data, meanwhile, has the potential to reset the market's expectations for Fed rate cuts. Investors will digest GDP data for the third quarter on Wednesday, with estimates of 3.2% growth in the July through September period.On Friday, the October jobs report will be published. Economists expect 110,000 jobs were added last month, well below September's reading of 254,000. The Federal Reserve's November policy meeting will kick off a day after the presidential election. According to the CME Fedwatch tool, traders see a 96% chance central bankers will cut rates another 25 basis points, though recent hot data has also suggested the Fed may pause rate cuts at an upcoming meeting. "As we enter 2025, the case for skipping or pausing is likely to build. The Fed will be closer to estimates of neutral, a repeat of residual seasonality could lift inflation early next year, and the election outcome could add to hawkish risks for the Fed," Deutsche Bank analysts said in a note on Wednesday.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Tuesday:<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>: 5,802.94, down 0.35%</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>: 42,184.05, down 0.48% (-203.52 points)</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>: 18,523.71, down 0.23%</li></ul>Here's what else is going on:<ul><li>Here's how a <a target="_blank" class="" href="https://www.businessinsider.com/market-impact-presidential-election-scenarios-trump-harris-stocks-bonds-crypto-2024-10?_gl=1*1qvmmw6*_ga*OTI1ODIwOTQ2LjE3MTYzOTg2NjU.*_ga_E21CV80ZCZ*MTczMDIwNTI2My40OTMuMS4xNzMwMjA4NDgwLjQuMC4w">Trump or Harris presidency</a> could impact your investments.</li><li>The <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/election-betting-odds-trump-vs-harris-polymarket-kalshi-robinhood-2024-10">election-betting market</a> has exploded this presidential cycle.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-media-djt-truth-social-election-madison-square-garden-rally-2024-10">Trump Media and Technology stock embarked on a meme-like rally</a> after Trump's Madison Square Garden event. The stock was halted for volatility on Tuesday morning. </li><li>The <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/fed-rate-cuts-outlook-job-market-economy-fomc-jeremy-siegel-2024-10">Fed could pause rates at its next meeting</a>, if the October jobs report comes in strong, according to Wharton professor Jeremy Siegel.</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 ticked higher 0.67% to $67.83 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, edged up 0.61% to $71.42 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was higher by 0.47% to $2,754.48 an ounce.</li><li>The 10-year Treasury yield climbed five basis points to 4.333%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> rose 3.25% to $71,152.</li></ul>

Stock market today: Indexes dip ahead of mega-cap tech earnings

<ul class="summary-list"><li>China has announced a local government debt rescue program days after Trump won the US election.</li><li>Trump has threatened tariffs of 60% on Chinese goods, complicating China's economic gloom.</li></ul>China announced a debt rescue program to the tune of $1.4 trillion to save heavily indebted local governments and boost its economy.China's Standing Committee of the National People's Congress — its top legislative body — approved 6 trillion Chinese yuan to refinance local governments' hidden debt over three years, according to <a target="_blank" class="" href="http://politics.people.com.cn/n1/2024/1108/c1001-40357125.html">Xinhua state news agency.</a>Hidden debt refers to off-balance sheet liabilities issued by local government financing vehicles, or LGFV, to finance infrastructure investment.The plan also allows local governments to tap 4 trillion yuan in special local bonds over five years.The announcement came after the legislative body met from Monday to Friday.China's local governments have been struggling to repay their LGFV debt, which the <a target="_blank" class="" href="https://www.imf.org/en/Publications/CR/Issues/2024/08/01/Peoples-Republic-of-China-2024-Article-IV-Consultation-Press-Release-Staff-Report-and-552803">International Monetary Fund</a> estimated to be around 60 trillion as of last year. It's another risk to China's economy, which has been struggling with a <a target="_blank" rel="noopener" href="https://www.businessinsider.com/china-real-estate-property-market-speculation-debt-crackdown-xi-jinping-2023-8?utm_medium=ingest&amp;utm_source=markets">property crisis,</a> deflation, and high youth unemployment.Reuters reported last week that China's top legislative body was considering a plan to raise $1.4 trillion in extra debt over the next few years to fund part of an economic rescue package.As early as Monday, Chinese Premier Li Kiang drummed up market expectations for more <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-li-qiang-fiscal-stimulus-market-sentiment-us-election-2024-11">economic stimulus</a>, saying Beijing has "ample space for fiscal policy and monetary policy."The bumper stimulus came on the heels of Donald Trump's victory in the US presidential election earlier this week, which is likely to change Washington and Beijing's trade relationship.A China hawk, Trump has pledged to slap <a target="_blank" rel="" class="" href="https://www.businessinsider.com/what-us-economy-would-look-like-with-trump-biden-presidency-2024-5?utm_medium=ingest&amp;utm_source=markets">a 10% to 20% tariff</a> on all imported goods. He has threatened tariffs of 60% on goods imported from China.This would put further pressure on China's economy, which is still trying to recover following nearly three years of pandemic curbs.In late September, China rolled out <a target="_blank" rel="" href="https://www.businessinsider.com/china-economy-aggressive-monetary-stimulus-interest-rate-rrr-2024-9?utm_medium=ingest&amp;utm_source=markets">aggressive stimulus</a> that boosted sentiment and spurred a bull run in the stock markets. However, analysts say that Beijing still needs to do more to drive consumption.If Beijing's latest stimulus disappoints, it may be in part due to China's own policy conflicts between its socio-political and economic objectives and the constraints, Vishnu Varathan, Mizuho Bank's chief economist of Asia excluding Japan, wrote in a note a week before the debt rescue announcement.Notably, China may be still holding back to avoid one thing: "the optics of over-reacting to US elections," wrote Varathan.

China just announced an $1.4 trillion plan to rescue its local governments

<ul class="summary-list"><li>Shares of upstream chip companies TSMC and ASML have surged on the back of Nvidia's gains.</li><li>TSMC's market cap briefly crossed $1 trillion on Monday.</li></ul>Tech giant <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-today-nvidia-stock-drives-nasdaq-record-closing-high-2024-7">Nvidia</a> has been riding the artificial intelligence wave that made it one of the <a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-bigger-than-apple-2nd-most-valuable-company-global-2024-6">world's most valuable companies.</a>Now, Nvidia's suppliers and upstream partners are riding on the hype, too.<a target="_blank" href="https://markets.businessinsider.com/stocks/tsm-stock">Taiwan Semiconductor Manufacturing Company, or TSMC,</a> ADR shares on the New York Stock Exchange briefly crossed the $1 trillion valuation mark on Monday after gaining as much as 4.8%. The stock is up nearly 80% this year to date.TSMC's shares on the Taiwan Stock Exchange were 0.5% higher at 1,040 New Taiwan Dollars apiece, or $32.26 apiece, at 10:55 a.m. local time on Tuesday.TSMC's stock surge on Monday came after <a target="_blank" href="https://seekingalpha.com/news/4122644-taiwan-semi-gains-as-morgan-stanley-expects-guidance-boost-on-ai-strength">Morgan Stanley</a> said it expects the chip giant to hike full-year sales estimates next Thursday when it announces second-quarter earnings.<a target="_blank" rel="" href="https://www.businessinsider.com/tsmc-us-china-tensions-may-dictate-fate-of-global-economy-2022-10">TSMC</a> produces, by some estimates, <a target="_blank" rel=" nofollow" href="https://www.citigroup.com/global/insights/global-insights/the-u-s-china-chip-war-who-dares-to-win">90% of the world's most advanced processor chips</a> and is the sole supplier of key advanced chips to Nvidia and Apple, among others."Our latest supply chain checks indicate that TSMC is delivering a message that leading-edge foundry supply could be tight in 2025 and customers may not get sufficient capacity allocation without 'appreciating TSMC's value,'" wrote Morgan Stanley analysts led by Charlie Chan on Sunday.The analysts called the strategy "hunger marketing."Last month, <a target="_blank" href="https://www.businessinsider.com/nvidia-taiwan-tsmc-ai-chip-price-hike-value-jensen-huang-2024-6">TSMC CEO C.C. Wei hinted</a> that the company was considering a price hike for its products.Meanwhile, <a target="_blank" href="https://www.businessinsider.com/nvidia-earnings-ai-chips-demand-jensen-huang-allocate-fairly-stock-2024-2">Nvidia CEO Jensen Huang</a> has said there's so much demand for his company's chips that he has to allocate them "fairly."It's not just TSMC that's reaping the benefits of Nvidia's meteoric rise.Dutch company <a target="_blank" href="https://markets.businessinsider.com/stocks/asml-stock">ASML,</a> TSMC's equipment supplier, also got a lift with shares briefly crossing 1,000 euros, or $1,082, apiece for the first time on Monday.ASML shares closed 0.5% higher at 997.90 euros apiece on the Amsterdam Stock Exchange on Monday and are 42% higher year to date.ASML's stock is now worth 395 billion euros — making it the third-most valuable company in Europe after Danish pharma giant Novo Nordisk and French luxury behemoth LVMH.ASML reports second-quarter results on July 17.

Chip giant TSMC crosses $1 trillion market cap, riding on the back of Nvidia's gains

<ul class="summary-list"><li>China is considering a fresh $1.4 trillion stimulus, <a target="_blank" href="https://www.reuters.com/world/china/eyeing-us-election-china-considers-over-14-trillion-extra-debt-over-next-few-2024-10-29/">Reuters</a> reported.</li><li>The package could be approved next week and would increase in size if Trump wins the election. </li></ul>China could approve a fresh round of stimulus in the next week, and officials in Beijing are eyeing even more aid for the country's economy in the event Donald Trump wins the US presidential election on November 5. <a target="_blank" class="" href="https://www.reuters.com/world/china/eyeing-us-election-china-considers-over-14-trillion-extra-debt-over-next-few-2024-10-29/">A report from Reuters</a> on Tuesday said the country's top legislative body could approve a plan to raise $1.4 trillion in extra debt over the next few years to deploy as part of an economic rescue package. The large fiscal stimulus would be increased if Republican nominee and former President Donald Trump wins the US election, the report says.Sources told Reuters the package would be approved by the Standing Committee of the National People's Congress (NPC) on the last day of its meeting next week.The package amounts to 10 trillion yuan worth of debt, with 6 trillion raised by special sovereign bonds and put largely toward aiding local governments deal with their debts, the report says. The remaining 4 trillion yuan would be raised by local government bonds and put toward idle land and property purchases, the sources told Reuters.The report says the officials are also considering another at least another one trillion yuan aimed at efforts including boosting consumption, and another trillion in capital for large state banks.The whopping $1.4 trillion amounts to over 8% of China's total economic output, but is still short of the country's stimulus measures from 2008 which totaled 13% of the country's GDP at the time.The sources say the measures would be confirmed on the last day of the NPC's meeting next Friday — giving ample time to factor in the results of the US presidential election, which takes place on Tuesday.If Trump is elected, the stimulus package could be higher due to the economic challenges Trump's policies would pose for China, the sources told Reuters. Trump has proposed sweeping 20% tariffs on imports, though he's pitched much steeper 60% tariffs on goods from China. The report comes a month after China announced its first round of stimulus measures, aimed at propping up its economy, which has struggled since reopening following the COVID-19 pandemic. The country has been plagued by a weak property sector and surging local government debt, as well as depressed consumer demand. Analysts appeared unimpressed with the <a target="_blank" href="https://www.businessinsider.com/china-economy-aggressive-monetary-stimulus-interest-rate-rrr-2024-9">initial rounds of stimulus</a>, with several top Wall Street analysts saying the measures aren't enough to solve the issues facing consumption or the <a target="_blank" href="https://www.businessinsider.com/china-economy-housing-property-stimulus-economic-growth-goldman-sachs-2024-10">housing market's structural problems</a>.Some have turned more optimistic on more recent measures, though. Earlier this month analysts from Goldman Sachs <a target="_blank" href="https://www.businessinsider.com/china-economy-growth-beijing-stimulus-reasl-estate-market-goldman-sachs-2024-10">upped their 2024 forecast for China's economic growth</a> from 4.7% to 4.9%, citing recent promises of greater public spending by the government.

You Searched For "4 trillion market cap" and got 8 results

Warren Buffett-led Berkshire Hathaway becomes first non-tech US company to cross USD 1 trillion market cap

ANI

Dogecoin surpasses Ford in value as Trump's win propels total crypto market cap to $3 trillion

Matthew Fox

Tesla hits a $1 trillion market cap after the stock rallies 27% following Trump's election win

Matthew Fox

Apple will hit a $4 trillion market cap in 2025 as the iPhone 16 sparks big upgrade cycle, Wedbush says

Matthew Fox

Stock market today: Indexes dip ahead of mega-cap tech earnings

Jennifer Sor

China just announced an $1.4 trillion plan to rescue its local governments

Huileng Tan

Chip giant TSMC crosses $1 trillion market cap, riding on the back of Nvidia's gains

Huileng Tan

China is eyeing $1.4 trillion in fiscal stimulus and even more if Trump is elected, report says

Kelly Cloonan

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