S&P 500 reaches new high but ends week slightly down amid US debt ceiling concerns; Powell surprises market with Fed rate hike comments; US Dollar declines; Crude oil prices show mixed performance; Gold rebounds after recent volatility; Bitcoin and Ether experience slight gains before dipping again.
It was a week of highs and lows on Wall Street as the first week of 2023 came to a close. Despite some choppy actions earlier in the week, the major indices were able to end the week with decent gains thanks to a rally effort on Friday. So what drove the market this week? […]
Join us for a webinar with Daniel Ang as he discusses the current state of the oil market and the impact of the war in Ukraine on global economics. He will also be discussing the risk of stagflation in 2023 and its potential impact on the stock market. Additionally, he will be exploring the forecasted […]
Good day Traders and welcome to the RichDadph Daily Market Update, brought to you by financial expert Mr. Daniel Ang, The Accidental Trader. With over 35 years in the industry, Mr. Ang brings a wealth of knowledge and experience to the table. Let’s take this opportunity to learn from his insights and use them to […]
Overnight, the US equity markets closed higher after a modest reversal of a four-day sell-off from last week. However, the dollar fell and bond yields jumped in response to an unexpected policy pivot from the Bank of Japan (BOJ). All three major US indices rebounded from an early dip, while the rising yen sent the […]
On Thursday, the greenback regathered its strength on risk aversion and hot inflation data, and the US Dollar Index (DXY) snapped a two-day losing streak. Investors seem to have turned cautious early Friday after foreign ministers of Russia and Ukraine failed to make progress on a ceasefire. Later in the day, the University of Michigan’s […]