The Nasdaq and S&P 500 rebounded, recovering some losses as investors anticipate quarterly earnings from AI leader Nvidia, and Tesla jumped on the prospect of favorable policy changes from the incoming Trump administration.
Boeing will lay off more than 2,200 workers in the U.S. states of Washington and Oregon, according to latest filings posted, as part of the debt-heavy U.S. planemaker’s plan to cut 17,000 jobs, or 10% of its global workforce.
Gold prices soared, after six days of losses, as the U.S. dollar’s surge stalled and heightened uncertainty over the Russia-Ukraine conflict rekindled safe-haven demand. Spot gold jumped, moving away from a two-month low hit last week.
The Gold-Dollar pair exploded 1.4% in the last session. The Williams indicator is giving a positive signal.
XAU/USD exploded 1.4% in the last session.
Support: 2537.1 | Resistance: 2672.3
Oil prices settled down more than 2% to end last week as investors fretted about weaker Chinese demand and a potential slowing in the pace of U.S. Federal Reserve interest rate cuts. China’s oil refiners in October processed 4.6% less crude than a year earlier.
The Oil-Dollar pair plummeted 2.3% in the last session. The Ultimate Oscillator is giving a negative signal.
WTI/USD dove 2.3% in the last session.
Support: 64.446 | Resistance: 69.816
Nvidia’s results in the coming week could guide the U.S. stock market on its next path, as investors turn their focus to the technology sector and AI trade after an election-fueled rally. A nearly 800% run in shares of Nvidia over the past two years has propelled the company to the world’s top spot by market value.
Nvidia shares fell 2.0% in the last session. The Williams indicator is giving a negative signal.
Support: 137.27 | Resistance: 149.94
Non-fungible tokens saw a weekly sales volume of $181 million, fueled by significant gains in Bitcoin and other cryptocurrency markets. On Nov. 17, NFTs recorded a sales volume of $181 million over the last seven days. The data shows a 94% increase compared to the week before.
