Tech recovers and Gold moves back above $5,000
|A low-key start to the week has nonetheless seen signs of life in tech stocks, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.
Tech stocks recover while Dow slips back below 50,000
It has been a quietly risk-on day for markets overall, following the Japanese election results over the weekend. While the Dow has failed to hold 50,000 so far today, a recovery in tech stocks suggests that the rotational trade in this bull market may be moving back in the other direction. With some time before Nvidia’s earnings round of tech reporting season, the focus this week shifts back to the macro picture, and a potentially Goldilocks combination of a weak jobs report and inflation data reinforcing hopes of a dovish Fed at the next decision.
Gold moves higher but bitcoin struggles
The rally in gold is back on following last week’s volatility. The metal has reclaimed $5,000, following Thursday’s second flush that seems to have provided the much-needed sentiment reset in precious metals. And on schedule, bitcoin’s bounce has stalled; a renewed surge in gold and silver is perhaps bitcoin’s biggest threat at present, stealing the limelight from the cryptocurrency and its peers.
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.