Market closure October 4, 2024

USA STOCKS MARKETS

American stocks advance at the close of the week.

In general, the average increases are around one percentage point.?

The S&P 500 index rose 0.9% to 5,751.07, while the Nasdaq Composite index? jumped 1.22% to 18,137.85.?

The Dow Jones index added 341.16 more points, achieving 0.81%, to reach a historical closing maximum of 42,352.75 points.

Stocks rose after data showed nonfarm payrolls grew by 254,000 jobs in September, far exceeding the 150,000 increase expected by economists surveyed by Dow Jones.?

The unemployment rate fell to 4.1% despite expectations that it would remain stable at 4.2%.

EUROPE STOCKS MARKETS

Positive day for the EuroStoxx 50, which ended the day on Friday, October 4 with increases of 0.71%, to 4,956.47 points. The EuroStoxx 50 reached a maximum volume of 4,976.02 points and a minimum volume of 4,911.36 points. The trading range for the EuroStoxx 50 between its highest and lowest point (high-low) during this day stood at 1.3%.

This Friday, the European banking index rises 2% and, in addition, the FTSE Mib of Milan ends up as the best performing indicator in Europe thanks also to banking.

DAX 40, the main selective of the Frankfurt Stock Exchange, recovered 0.55% this Friday, to 19,120.93 points, after falling almost two and a half points in the last four days due to uncertainty due to the crisis in the East Half.

The Ibex gains momentum this Friday to alleviate the bearish week. This day manages to close higher, with a rise of 0.35%, but the weekly accumulated is a fall of 2.58%. The first week of October has been negative for the selective, given the geopolitical tension that has increased during these days.

Session without changes for the PSI 20, which ended on Friday, October 4, with a variation of 0.03%, up to 6,647.27 points.

CRUDE OIL

Brent barrel (+0.5%) advances to one-month highs and costs more than $79 a barrel, while West Texas gains 1.3% to $74 a barrel.

It could be encountering short-term resistance.

We will continue to watch after the latest increases due to tensions in the Near and Middle East.

GOLD

Fundamentals

So far in 2024, the price of gold continues to be influenced by a combination of global economic, political and financial factors.?

Inflation and interest rates: In an economic environment characterized by high inflation, gold tends to be seen as a safe haven. During the year, central banks in several countries have continued to adjust interest rates to control inflation. When interest rates are low, investors often prefer gold as it does not earn interest but preserves value in times of uncertainty.

Geopolitical instability: Tension between great powers, conflicts in strategic regions and political uncertainty have boosted the demand for gold as a safe asset. Investors are seeking to protect their wealth in an increasingly volatile global context.

Central bank demand: In 2024, many central banks continue to purchase gold to diversify their reserves and reduce dependence on the US dollar. This has been particularly relevant in emerging economies and in countries seeking greater financial stability.

Mining and supply: Global gold production has shown stability, but extraction costs continue to rise due to stricter environmental regulations, more difficult to exploit deposits and higher energy costs. This could affect supply in the medium term.

The rise therefore, at the fundamental level, is justified and it is possible that we can still see higher prices on its graph in 2024.

2653,11 USD as a price.

CRYPTOCURRENCIES

Bitcoin: A new week, and we are still within the bearish continuation channel.

After approaching the top of the channel, the price gives way to intermediate points, to find continuation supports, or try to do so.

The following graph shows what is stated in the written words.

BITCOIN SUPER CHART

After the great bullish climb, bitcoin remains wit

(FGI BTC) Bitcoin Fear and Greed Index

The Bitcoin Fear and Greed Index is a tool that helps investors and traders analyze the Bitcoin and Crypto market from a sentiment perspective.?

Currently we have the FGI is 49 points.

After the fall at the beginning of the week, the crypto market is recovering but encounters short-term resistance, according to this indicator, which stands at 49 points today.

The global observation of the FGI for bitcoin offers us the price of bitcoin in a theoretical pause movement before continuing, with an increase in the FGI from its floors, to test resistance zones.

Shown in the graph below.

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