4E: US stocks rose for the sixth consecutive week, gold hit a new high, and optimism in the crypto market is emerging

This article is machine translated
Show original

On October 21, the series of data released recently have paved the way for the "soft landing" of the US economy, and with only 2 weeks left before the US election, the market is pricing in the prospect of a Trump victory, and the global financial market is generally on the rise.

According to 4E monitoring, the Dow Jones Industrial Average rose 0.96% last week, the S&P 500 rose 0.85%, and the Nasdaq rose 0.80%. The three major US stock indexes have risen for the sixth consecutive week, with the S&P and Dow Jones setting the longest weekly consecutive gain record of the year. The cryptocurrency market is replicating the upward trend that began in late October historically. As of the time of writing, Bitcoin is reported at $69,198, just one step away from the $70,000 mark, with a cumulative weekly increase of 10.41%, and Ethereum is reported at $2,741, with a weekly increase of 11.95%.

In the foreign exchange and commodity markets, the US dollar index fell back after consecutive gains last Friday, but still maintained above the 103 mark, up about 0.6% for the week and rising for the third consecutive week; the intensification of the US election and more expectations of monetary policy easing have pushed spot gold to set new highs for two consecutive days last Thursday and Friday, with a weekly cumulative increase of about 2.4%, and silver rose about 7% for the week to near a 12-year high; the oil market performed poorly last week, as the market was concerned about the outlook for global demand and the US push for a ceasefire in Gaza, with US oil falling more than 8% for the week, ending a two-week consecutive gain, and Brent oil falling nearly 7%.

The global economy is experiencing unexpected positive news, and market optimism is emerging, but with the US election entering a critical stage, political uncertainty still exists. eeee.com is a financial trading platform that supports cryptocurrencies, stock indexes, bulk gold, foreign exchange and other assets, and has recently launched a USDT stablecoin wealth management product with an annualized yield of 5.5%, providing investors with a potential hedging option. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
1
Comments