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Markets are settling into holiday mode, with stock futures slightly down on the last full trading day before Christmas. Here’s where things stand today: * Nasdaq-100: +0.37% * S&P 500: +0.04% (flat) * Dow Jones: -0.22% On Friday, the S&P 500 rose 1.1%, recovering
Quantum computing stocks are taking off in 2024. Is this the start of something big? Let’s take a closer look Google’s Chip Changes the Game Google’s new Willow chip, a 105-qubit processor, hit a big milestone: * Fixed Errors: It solved a 30-year problem by cutting down error
Government surveys that track the economy are failing. Budgets are shrinking, people are skipping surveys, and economic data we rely on is becoming less trustworthy. This is a big deal—because when the numbers are wrong, decisions that affect markets, businesses, and everyday life go wrong, too. Here’s what’
The S&P 500 Value Index just dropped 3.7%, marking its longest losing streak on record. Meanwhile, Bitcoin smashed past the $100,000 mark, and the Nasdaq climbed to 20,000. To me, it seems that value stocks have been left in the dust, and investors chasing bigger
Almost $10 billion has poured into Bitcoin ETFs since the US election, pushing Bitcoin past the $100,000 mark for the first time. The momentum is crazy, with Bitcoin posting its best winning streak since 2021. With investors pouring in, knowing the risks are more important than ever. Bitcoin’s
Big Tech stocks are climbing to new highs, while oil prices are taking a hit. With tech giants driving the Nasdaq’s recovery and oil prices dropping due to recent geopolitical events, investors have plenty to watch as earnings season continues. Here’s a look at what’s happening and why it matters.
Tech Stocks Surge
The Magnificient 7 (Nvidia, Apple, Meta, Amazon, Microsoft, Alphabet, and Tesla) gained momentum, with tech stocks up 49.8% this year. These companies have been outpacing the broader S&P 500, which is up only 22.5%.
The Mag7 have repeatedly stayed ahead of the S&P 500. While the rest of the market grows at a slower rate, these tech companies are driving the market's recovery. With earnings reports coming up, analysts expect higher-than-average growth from Big Tech, which could add further momentum to the index if results meet expectations.
Oil Takes a Hit
In contrast to tech’s climb, oil prices have been sliding. Israel’s recent strikes on Iran avoided direct impacts on oil infrastructure, but the geopolitical tension still led to a 5.7% drop in oil prices. This is almost one of the biggest one-day falls in oil in nearly two years, with prices dipping to around $580 on the Dow Jones Crude Oil Index.
Lower oil prices are expected to benefit sectors like airlines and transportation, which rely on cheaper fuel, while energy stocks may face additional pressure. For investors, just know that oil prices can change quickly from geopolitical tensions.
Tech stocks rising and falling oil prices aren't the only thing investors are watching! Let's not forget about next week's US election. Also, the Federal Reserve's policies could further influence market sentiment.
If big tech reports strong earnings, it'll provide a lift to the market overall. However, oil’s recent volatility reminds us of continued global uncertainty that could impact markets.
A few Key Takeaways:
- Mag7 tech stocks are driving the market's recovery, outpacing the rest of the market with a 49.8% gain this year.
- Oil prices dropped this morning by 5.7% due to geopolitical events, benefiting some sectors while putting pressure on energy stocks.
- Investors are focusing on tech’s earnings this week, but are cautious about global & economic risks that could affect markets.