Taiwan’s Foxconn, the world’s largest contract electronics maker, beat expectations to post its highest-ever revenue for the fourth quarter on continued strong demand for artificial intelligence servers. Revenue for Apple’s biggest iPhone assembler jumped 15.2% to $64.72 billion.
Wall Street see-sawed amid choppy trading, reversing earlier gains as investors embarked on the new year facing the cross-currents of solid labor market data, a rising dollar and tumbling Tesla shares.
Shares of Tesla plummeted 3.3% in the last session. According to the CCI, we are in an oversold market.
Support: 351.38 | Resistance: 409.65
Gold hit a more than two-week high, fuelled by safe-haven buying, while the market took out positions ahead of the Federal Reserve’s rate outlook and President-elect Donald Trump’s looming trade tariffs. Spot gold rose 1.3%.
The Gold-Dollar pair skyrocketed 1.1% in the last session. The MACD is giving a positive signal.
XAU/USD skyrocketed 1.1% in the last session.
The MACD is currently in the positive zone.
Support: 2594.6 | Resistance: 2707.4
Oil prices rose about 2% as investors returned for the first trading day of the new year with an optimistic eye on China’s economy and fuel demand after a pledge by President Xi Jinping to promote growth.
The Oil-Dollar pair skyrocketed in the last session. According to the CCI, we are in an overbought market.
Support: 69.939 | Resistance: 75.519
Ether exchange-traded funds hit a new monthly record in December despite the holiday illiquidity, bolstering analyst expectations of an incoming rally. The United States spot Ether ETFs reached a new monthly record, surpassing $2.1 billion worth of cumulative net inflows during December.
Oil prices settled more than 1% higher on Friday and recorded a weekly gain in low trading volume ahead of year-end, buoyed by a larger-than-expected drawdown from U.S. crude inventories last week.
The Oil gained 0.7% against the Dollar in the last session. The Stochastic-RSI is giving a positive signal.
Support: 68.096 | Resistance: 71.966
