Records, Records and More Records
Loading the player...
Stocks will end this record-setting week at or near record levels, with the S&P 500 gaining +.9% for the week, the DOW +.8%, and the NASDAQ outperforming with a gain of +1.4%. The records set this week by the three main indexes are as follows, S&P 500 - 1,931.50, DOW - 31,543.82, and the NASDAQ - 14,109.12.
On a weekly level, the market started hot on Monday but has steadily cooled off into the close on Friday after the record levels were achieved. As we head into the finale, the S&P 500 is looking at a daily gain of roughly +.10, the DOW has been waffling between gains and losses and is down about -.11% as I recorded this video, and the NASDAQ is up the same as the S&P 500 with an increase of +.10%.
The energy sector has had a considerable influence on the market this week, and crude oil was at the head of the charge, gaining roughly +4.7%, trading above $59 a barrel, and ending the week with a +3% gain on Friday. On the other hand, gold attempted to pull out of its 2-week slump early in the week, but the rally has fallen short as the week comes to an end, with gold eeking out a small gain of about +.4%.
After back-to-back weekly gains, the US dollar could not keep up that momentum and post a weekly loss standing at roughly -.7%. However, with a Chart Analysis Score of -75 and a mixed Trade Triangles, it's no shock that it continues to move sideways.
Bitcoin once again continues to set daily records with a new record high on Friday of $49,000. For the week, Bitcoin will post a weekly gain of +21% marking three straight weeks of gains totaling +40%! A truly remarkable record run. Where's the top for Bitcoin? 60K, 80K, 100K, or higher? Leave a comment and tell us what you think.
Key Levels To Next Week:
S&P 500 (CME:SP500): 3,694.12
Dow (INDEX:DJI): 29,856.30
NASDAQ (NASDAQ:COMP): 12,985.05
U.S. Dollar (ICE:DX): 90.08
Gold (NYMEX:GC.J21): 1,845.40
Crude Oil (NYMEX:CL.H21): 57.41
Bitcoin (BITCOIN:BITSTAMPUSD): 29,150.49
Back to videos