4E: U.S. stocks have risen for the sixth consecutive week, gold has reached a new high, and optimistic sentiment is emerging in the cryptocurrency market
ChainCatcher news, the series of data released recently has paved the way for a "soft landing" of the U.S. economy. With only 2 weeks left until the U.S. election, the market is pricing in the prospects of a Trump victory, and global financial markets are generally on the rise.
According to 4E monitoring, the Dow Jones Industrial Average rose by 0.96% last week, the S&P 500 rose by 0.85%, and the Nasdaq rose by 0.80%. All three major U.S. stock indices have risen for six consecutive weeks, with the S&P and Dow setting records for the longest weekly winning streak this year. The cryptocurrency market is replicating the upward trend that historically begins in late October. As of the time of writing, Bitcoin is priced at $69,198, just a step away from the $70,000 mark, with a weekly increase of 10.41%. Ethereum is priced at $2,741, with a weekly increase of 11.95%.
In the foreign exchange market, the U.S. dollar index fell after consecutive gains last Friday but still maintained above the 103 mark, with a weekly increase of about 0.6% and three consecutive weeks of gains. The intensifying U.S. election and expectations for more monetary policy easing have propelled spot gold to set new historical highs for two consecutive days last Thursday and Friday, with a weekly increase of about 2.4%. Silver rose about 7% for the week, reaching nearly a twelve-year high. The oil market performed poorly last week due to concerns about global demand prospects and the U.S. pushing for a ceasefire in Gaza, with U.S. oil falling over 8% for the week, ending a two-week winning streak, while Brent crude fell nearly 7%.
The global economy is welcoming unexpected good news, and market optimism is becoming evident. However, as the U.S. election enters a critical phase, political uncertainty still exists. eeee.com is a financial trading platform that supports assets such as cryptocurrencies, stock indices, spot gold, and foreign exchange. Recently, it launched a USDT stablecoin wealth management product with an annualized return of 5.5%, providing investors with potential hedging options. 4E reminds you to pay attention to market volatility risks and to allocate assets reasonably.
