Megacaps' unstoppable rise, central bank pivots, political turmoil, and M&A resurgence made the first half of 2024 a whirlwind in world markets.
The unstoppable march of the mega caps, expected central bank pivots, political turmoil and M&A is back - the first half of 2024 has been another whirlwind in world markets.
Forecasts for a global interest-rate-cutting frenzy have not fully materialized, but the Magnificent 7 soared another $3.6 trillion in market value. The tech sector in other stock markets also shined.
For more than a year, Nvidia's customers have been snatching up all of the AI accelerator chips the company can produce. However, there is still plenty of uncertainty about whether AI can live up to the hype.
Some analysts refer to the costly build-out of telecommunications networks in the 1990s, which helped propel stocks like Cisco Systems to levels it has not surpassed more than two decades later.
Investors have discerned what a reckoning for Nvidia shares might look like when the chipmaker plunged 13% over the span of just three days. Micron Technology's Q2 earnings disappointed, adding to the jitters.
The White House could also change markets' tone. A shaky performance from President Biden in his latest TV debate against Trump has just ratcheted November's US election uncertainty up substantially.
The Dow traded above 50 SMA and it still looks bullish in the medium-term. To stage another rally towards the all-time high around 40,000, the index needs to first overcome the resistance of 39,600.
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US job growth in July slowed more than expected, raising fears of a broader economic slowdown and causing risky assets to tumble throughout the month.
2024-09-06Oil prices rose slightly on Friday, as investors balanced a large US crude inventory draw and OPEC+ production delays with mixed US employment data.
2024-09-06Bullion steadied Thursday below $2500 after a market sell-off. It is expected to remain near this level until the NFP report is released.
2024-09-05