21/10/2024 Daily Reports
All major US indexes closed higher, with tech giants, especially Netflix, fueling Wall Street’s impressive rally. The precious metal hit an unprecedented $2,732 per ounce as investors sought shelter from global uncertainty. Oil prices saw their biggest weekly drop in a month, stoking concerns about weakening demand amid a shaky global economy.
Netflix and Procter & Gamble results grabbed attention, setting a positive tone despite mixed market performance elsewhere. The S&P 500, Nasdaq, and Dow notched their sixth straight week of gains—marking their longest winning run since 2023. Investors are flocking to safe-havens like gold while riding the tech wave, making it a wild mix of caution and optimism across the market.
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Gold Hits Record High Amid Middle East Tensions; Chinese Stimulus Boosts CSI 300 Index
Asian markets were mixed as investors awaited new catalysts.
China’s CSI 300 Index rose following a rate cut by the nation’s banks, adding to optimism from recent stimulus measures. Meanwhile, shares in Hong Kong declined.
Gold surged to a record high of $2,730 per ounce due to Middle East tensions and investor positioning ahead of the US presidential election.
US equity futures remained stable after the S&P 500’s sixth consecutive weekly gain, fueled by strong corporate earnings and economic resilience.
Additionally, Bitcoin neared $70,000 as optimism around US regulations grew.
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