Outlook for the US market: As gold prices continue to reach record highs, US stocks achieved their first 8-day winning streak of the year. Dow Inc started trading at a loss of 22 dollars.
Hello, Moomoo users!![]()
Here are tonight's insights into NY stocks.![]()
Market Overview
The U.S. market started, with the Dow Jones Industrial Average, which is composed of high-quality stocks, opening at 40,874.52, down $22.01, while the tech-heavy Nasdaq Composite Index started at 17,849.09, down 27.68 points. The S&P 500, which consists of 500 large-cap U.S. stocks, opened at 5,602.88, down 5.37 points.
The U.S. market started, with the Dow Jones Industrial Average, which is composed of high-quality stocks, opening at 40,874.52, down $22.01, while the tech-heavy Nasdaq Composite Index started at 17,849.09, down 27.68 points. The S&P 500, which consists of 500 large-cap U.S. stocks, opened at 5,602.88, down 5.37 points.
Top News
Bullish market trend in the stock market.
● There is a growing belief that the U.S. Federal Reserve (FRB) is preparing to cut interest rates, and global stock prices are poised to achieve their longest winning streak of the year.
● msci inc seems to be on track to achieve its longest winning streak since December. Overall, the U.S. equity futures are on an upward trend, with bonds and stock prices holding steady.
● U.S. stock futures are slowly rising, while bonds and the dollar remain stable. Sales of residential equipment have been revised downward due to a freeze in the housing market. $Loews (L.US)$ Sales of residential equipment have been revised downward due to a freeze in the housing market. Market participants stated, "Due to the freeze in the housing market, Lowe's has revised its sales and revenue outlook downward."
● There is a growing belief that the U.S. Federal Reserve (FRB) is preparing to cut interest rates, and global stock prices are poised to achieve their longest winning streak of the year.
● msci inc seems to be on track to achieve its longest winning streak since December. Overall, the U.S. equity futures are on an upward trend, with bonds and stock prices holding steady.
● U.S. stock futures are slowly rising, while bonds and the dollar remain stable. Sales of residential equipment have been revised downward due to a freeze in the housing market. $Loews (L.US)$ Sales of residential equipment have been revised downward due to a freeze in the housing market. Market participants stated, "Due to the freeze in the housing market, Lowe's has revised its sales and revenue outlook downward."
Historical high for gold.
The price of gold has exceeded $2,500, setting a new record high for precious metals on Monday. There is also a view that the focus is shifting towards a rate cut by the FRB, with gold rising over 20% this year.
Banks like UBS and ANZ believe that in addition to the FRB's policies, there is also buying and portfolio hedge demand from central banks, indicating further room for growth.
The price of gold has exceeded $2,500, setting a new record high for precious metals on Monday. There is also a view that the focus is shifting towards a rate cut by the FRB, with gold rising over 20% this year.
Banks like UBS and ANZ believe that in addition to the FRB's policies, there is also buying and portfolio hedge demand from central banks, indicating further room for growth.
While the volatility of US stocks has calmed down, analysts are concerned about the risk of aftershocks.
On the 19th of this month, Jim Reid, a strategist at Deutsche Bank, pointed out that the market is rapidly recovering from panic and returning to a normal state after an 8-day consecutive rally, swiftly reversing the previous decline. The market's fear index $Nasdaq Composite Index (.IXIC.US)$ And $S&P 500 Index (.SPX.US)$ also plummeted by 14.65 points at the close on Monday, dropping from its peak of 65.7 on August 5. $CBOE Volatility S&P 500 Index (.VIX.US)$ The confusion may have subsided, but concerns about aftershocks remain, and some of the factors that triggered the market sell-off have not disappeared. The two-pole reversal of the VIX index also indicates the market's psychological instability between rapid optimism and rapid collapse.
On the 19th of this month, Jim Reid, a strategist at Deutsche Bank, pointed out that the market is rapidly recovering from panic and returning to a normal state after an 8-day consecutive rally, swiftly reversing the previous decline. The market's fear index $Nasdaq Composite Index (.IXIC.US)$ And $S&P 500 Index (.SPX.US)$ also plummeted by 14.65 points at the close on Monday, dropping from its peak of 65.7 on August 5. $CBOE Volatility S&P 500 Index (.VIX.US)$ The confusion may have subsided, but concerns about aftershocks remain, and some of the factors that triggered the market sell-off have not disappeared. The two-pole reversal of the VIX index also indicates the market's psychological instability between rapid optimism and rapid collapse.
The has quickly recovered from previous losses, with the market fear index
August 5th was a major earthquake, and aftershocks usually follow after a major earthquake.
Jay Woods, Chief Global Strategist of Freedom Capital Markets, said, "Aftershocks are expected to occur frequently until the election in the usa."
From the end of summer to September, the market tends to decline. According to statistics, the S&P 500 equity index has declined in 4 of the past 9 Septembers and 7 out of the last 10 years. September has also been a period of decline for the bond market, with the Bloomberg Global Bond Aggregate Index falling in all 7 previous Septembers. On the other hand, the selling in the early August market was relatively limited, mainly due to the sudden drop of the magnificent seven, and did not reflect an overall market decline. With the uncertainty of the usa election and geopolitical factors, macro strategist Henry Allen of Deutsche Bank pointed out that these factors, combined with the potential for volatility to rise sharply once again.
From the end of summer to September, the market tends to decline. According to statistics, the S&P 500 equity index has declined in 4 of the past 9 Septembers and 7 out of the last 10 years. September has also been a period of decline for the bond market, with the Bloomberg Global Bond Aggregate Index falling in all 7 previous Septembers. On the other hand, the selling in the early August market was relatively limited, mainly due to the sudden drop of the magnificent seven, and did not reflect an overall market decline. With the uncertainty of the usa election and geopolitical factors, macro strategist Henry Allen of Deutsche Bank pointed out that these factors, combined with the potential for volatility to rise sharply once again.
While usa stocks turn bullish again, bitcoin continues to decline.
Last night, $S&P 500 Index (.SPX.US)$ And $Nasdaq Composite Index (.IXIC.US)$ achieved the first 8-day consecutive rise this year amid the calming of the market panic in early August. On the other hand, the largest digital asset, $Bitcoin (BTC.CC)$ has dropped by more than 8.5% this month and is currently trading around $61,000. At the same time, the MSCI Global Equity Indices achieved an approximately 1% rise, and the gold price hit an all-time high.
Analysts point out the possibility of the US government selling the seized Bitcoin as one of the challenges faced by digital assets. According to Arkham Intelligence's analysis, last week, the US government transferred $0.6 billion worth of seized Bitcoin to the wallet of the exchange operated by Coinbase Global Inc. Class A.
Furthermore, the derivative market in the cryptocurrency market is also showing signs of declining demand. According to CryptoQuant data, the funding rate of Bitcoin perpetual futures on the Binance exchange has fallen to the lowest level since 2022. Analysts see this as a sign of waning enthusiasm from fast money traders.
Last night, $S&P 500 Index (.SPX.US)$ And $Nasdaq Composite Index (.IXIC.US)$ achieved the first 8-day consecutive rise this year amid the calming of the market panic in early August. On the other hand, the largest digital asset, $Bitcoin (BTC.CC)$ has dropped by more than 8.5% this month and is currently trading around $61,000. At the same time, the MSCI Global Equity Indices achieved an approximately 1% rise, and the gold price hit an all-time high.
Analysts point out the possibility of the US government selling the seized Bitcoin as one of the challenges faced by digital assets. According to Arkham Intelligence's analysis, last week, the US government transferred $0.6 billion worth of seized Bitcoin to the wallet of the exchange operated by Coinbase Global Inc. Class A.
Furthermore, the derivative market in the cryptocurrency market is also showing signs of declining demand. According to CryptoQuant data, the funding rate of Bitcoin perpetual futures on the Binance exchange has fallen to the lowest level since 2022. Analysts see this as a sign of waning enthusiasm from fast money traders.
Passing of the torch for the Olympic flame
President Joe Biden gave an emotional speech on the first night of the Democratic National Convention and passed the torch to Kamala Harris.
Approximately 200 social media influencers attended this event, as the Harris campaign seeks to maintain its momentum.
On the other hand, Donald Trump dismissed criticism of his comments regarding the FRB and stated that he should be free to exchange opinions on interest rate policy.
President Joe Biden gave an emotional speech on the first night of the Democratic National Convention and passed the torch to Kamala Harris.
Approximately 200 social media influencers attended this event, as the Harris campaign seeks to maintain its momentum.
On the other hand, Donald Trump dismissed criticism of his comments regarding the FRB and stated that he should be free to exchange opinions on interest rate policy.
-moomoo News Zeber
Source: moomoo, Bloomberg, CME FedWatch, Dow Jones
This article uses auto-translation in some sections
Source: moomoo, Bloomberg, CME FedWatch, Dow Jones
This article uses auto-translation in some sections
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
臆病な投資家 : Why are pure gold trust ETFs denominated in yen even though the price of gold is at a record high?