The S&P 500 heads to its second week of winnings, the Nasdaq falls slightly, and gold hits a $1900 market price.
The Nasdaq index fell slightly during Friday trading sessions, owing to supply chain concerns in China. Wall Street delivered a mixed performance in today’s session. The S&P 500 feature declined by 0.26 percent, yet the index is heading to its second week of winning. Tech stocks jumped today, Amazon fell by 0.16 percent, Meta declined, and Tesla share prices sank. Tesla’s prices fell for its Model 3 Y, causing a significant decline in the automaker’s stock.
The analysis thinks that the health crisis in China and the cutting of prices in Shanghai might lead to a further decline in Tesla stocks. The Nasdaq feature plummeted slightly by 0.26 percent, while the Dow Jones, index is showing signs of fixed performance by cutting its loss to a positive increase of 0.04 percent.
Meanwhile, the golden currency, gold, is making miracles in the trading market. Gold prices were up to $1864 by the end of Thursday’s trading session. For the first time since its late August high, gold is officially trading at a market price of $1903 per ounce 24 hours later.
No one can deny that the global market has taken a bumpy ride over the past year. All major indexes entered correction territory, oil prices hit a record high, and inflation reached a 60-year high.
On the subject of oil prices, the U.S. is still trying to lower market prices, which are currently at an average of $78 per dollar. The global oil supply chain market faces an extreme shortage of products and increasing market demand. According to Reuters, Vice President Biden’s advisor says the seven nations are worried about limiting Russia’s oil revenues. The action came after Russia announced it would cut its daily oil unit production by 5–7% daily. The seven nations are looking at a target oil price of $60.
Today, oil prices jumped by an average of 1%; crude oil jumped by $1.32 to $79 per barrel. Elsewhere, according to the seven nations’ meetings in December, European countries will no longer implement oil transactions with Russia. The decision is set to be active by February 5, 2023.
However, as last year’s events show, Russia has always been one step ahead of the U.N. decision against the country. Reports say that Russia is making an economical ally with China, especially when china’s stocks are rebounding and its factories are performing well compared to 2021.
Experts believe that European stocks will outperform U.S. stocks in the coming year. Experts say that even though inflation and energy prices haven’t peaked yet, the stock market is still growing solidly but slowly compared to the U.S.
In the U.S., inflation and the energy crisis have peaked, and it’s safe to say the market turmoil is now fading slightly. Higher interest rates and aggressive monetary policy, on the other hand, may reduce and limit market revenues, giving EU stocks an advantage to outperform Wall Street.