Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, continued beefing up its BTC holdings last week amid rebounding investor sentiment and rising prices. Strategy acquired 4,980 Bitcoin for $531.1 million
Gold edged higher, supported by a weaker U.S. dollar, while investors hunkered down for U.S. economic data due later this week for signals on the Federal Reserve’s policy path
Oil prices edged up slightly, recovering from a drop into negative territory following a report that OPEC+ was planning to hike production in August, but tumbled about 12% in the week in their biggest drop since March 2023.
Wall Street extended its rally, sending S&P 500 and Nasdaq to all-time closing highs as trade deal hopes fueled investor risk appetite and economic data helped solidify expectations for rate cuts from the U.S. Federal Reserve.
Investors are poised to shift their attention in the coming week to key economic data and policy developments to see if the torrid rally in U.S. stocks extends higher. The benchmark S&P 500 and Nasdaq both tallied record highs on Friday for the first time in months.
U.S. President Donald Trump said he would “love” if Federal Reserve Chair Jerome Powell were to resign, and the president also said he wanted interest rates cut to 1%. Trump has long attacked the Federal Reserve chair over interest rates that the U.S. president wants lowered.
Gold prices held steady as investors awaited U.S. inflation data to gauge the interest rate outlook and kept an eye on the Middle East as geopolitical tensions eased, while palladium and platinum saw sharp rises.
