Market activity has significantly increased, this week focus on the core PCE price index and Federal Reserve meeting minutes
According to monitoring, the three major US stock indices collectively closed higher last Friday, with the Dow Jones rising nearly 1%, setting a new historical high. The S&P 500 index rose by 0.35%, increasing for five consecutive trading days, and the Nasdaq rose by 0.16%. Looking at the performance over the week, the Dow Jones accumulated a rise of 2%, while both S&P 500 and Nasdaq increased by 1.7%. As "Trump Cabinet 2.0" gradually takes shape, there is generally positive market sentiment towards Trump's tax cuts and deregulation policies being implemented.
Cryptocurrencies showed an upward trend last week; market sentiment index remained in greed stage indicating investors' optimistic expectations about future price trends. Altcoins generally followed market trends with significant increases; however, interest in Meme projects decreased last week.
In terms of foreign exchange commodities, last week saw near-1% increase in dollar index reaching above level of108 and touching its two-year high point. A bleak economic outlook for Eurozone has lowered oil demand expectations but oil prices still managed to accumulate around a rise of approximately6% - best in two months time period . Gold prices continued to rise throughout all five days of previous week , accumulating an increase of5 .7 % which is highest single-week gain seen in almost two years .
After Trump won presidential election , Federal Reserve's stance on rate cuts has become increasingly cautious . Minutes from Fed's November meeting as well as PCE Price Index (Fed’s preferred inflation indicator) will be released this Tuesday and Wednesday respectively which may cause fluctuations within markets . Currently , investors are predicting slightly more than50 % chance that Fed will cut rates again this December.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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