Xi Jinping Cements Dominance With Historic 3rd Term, Tesla Cuts China Prices, Analyst Says Bitcoin Primin

The market rally of the past week led to a lot of chatter about an inflection point, and a potential rally going into the year-end. Political developments in China and the United Kingdom also evinced interest among market participants. Here's a recap of some of themajor headlines that hit the wire over the weekend.

1. Xi Jinping Secures 3rd Term: Following a weeklong Party Congress, the Chinese Communist Party re-elected Xi as the leader of China for a historic third term. More importantly, seven key loyalists of Xi were announced as members of the politburo standing committee, Chinas most powerful political body.

What caught the worlds attention was a video showing former President Hu Jintao being evicted from the stage during the closing ceremony of the Congress.

2. Crypto 'Party' To Start This Week? Lock-stepping with their equity counterparts, cryptocurrencies picked up some momentum over the weekend. BitcoinBTC/USD, the apex crypto, is locked in a trading range and analysts are of the view the coming week is a huge one, making it inevitable that the crypto will break out of the range.