Tech leads the way higher for stocks
|The price action from the early part of Thursday's session is being re-run today, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.
Tech stocks lead the way higher
The stage seem set for a continued rebound as another Fed member joins in calls for a December rate cut, while a call between the US and Chinese leaders also helped to bolster sentiment. Last week’s flush on Thursday may well have heralded the last hurrah of the selling for the time being, especially as tech traders appear to be piling into Alphabet as the newly-anointed AI winner.
Bitcoin stumbles again while gold recovers
Bitcoin and other cryptocurrencies have been left out in the cold however, and with gold almost 1% higher it seems like the momentum trade is back on for the metal while its more speculative cousin continues to suffer. Friday’s price action seemed to suggest that there was firm buying pressure just above $80,000, so this is the downside level to watch for the time being.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.