Market Update December 30, 2022 By Daniel Ang

Hello Traders and welcome to the daily market update for Friday, December 30th, 2022. It was a great day for U.S. stocks, as all three major indices closed sharply higher in a broad-based rally. The Dow Jones Industrial Average rose 1.05% to 33,220.8 points, the S&P 500 gained 1.75% to reach 3,849.28 points, and the Nasdaq Composite added 2.59% to reach 10,478.09 points.

The dollar also saw some movement today, losing ground against the Japanese yen and the Swiss franc. The pair USD/JPY fell 1.1% to 133.005, while the USD/CHF was down 0.71% at 0.922. On the other hand, the euro and the British pound both gained against the dollar, with EUR/USD up 0.53% to 1.0664 and GBP/USD up 0.43% to 1.2065.

In the commodities market, crude oil prices slipped due to uncertainties surrounding COVID infections in China, but strong demand in the U.S. helped to hold its losses in check. WTI crude oil futures shed 0.7% to settle at $78.40 per barrel, while Brent settled at $82.26 per barrel, down 1.2% for the day. Gold saw an increase, boosted by the dollar's weakness, with spot gold adding 0.6% to reach $1,814.94 per ounce.

In the world of cryptocurrencies, Bitcoin saw a dip to $16,443.55 before bouncing back above $16,600, while Ether slid slightly below $1,183 before closing back above $1,200. XRP fell the most, reaching $0.3363, while Cardano continued its fall to the year's low at $0.240. TRX, the cryptocurrency of the Tron blockchain, was up 0.8% to $0.05417.