- Investing Journal
- Posts
- 📈 Gold Is DOWN
📈 Gold Is DOWN
Plus: Oil Prices Dip
Good Morning!
Welcome to the week where everything's moving—and you need to be ready. The Dow’s hitting fresh highs after a monster jobs report, but the real test is coming with big bank earnings on deck. Meanwhile, Bitcoin popped 3% but couldn’t keep the heat up over the weekend. And let’s not forget about oil—after its biggest rally in over a year, prices are pulling back as supply worries creep in. Want to know what’s driving the markets and where the next moves are coming from? Buckle up, because we’ve got you covered. Read on.
Grab your tiramisu latte and let's get into it! ☕️👇️
Markets
The Dow Jones has surged 4.5% over the past four weeks, capping off its latest rise with a 0.8% jump on Friday after the U.S. added a jaw-dropping 254,000 jobs in September. This brought the Dow to a new record close of 42,352.75 points.
But, can the rally keep going? With bank earnings coming up—JPMorgan and Wells Fargo are set to report this week—the next challenge looms. The S&P 500 and Nasdaq also continued their winning streaks, but futures look mixed heading into Monday.
📈 Bitcoin Price Regains $63,000 After Jobs Data Jolts Crypto Deals
Bitcoin surged 3% on Friday after a strong U.S. jobs report but stayed mostly flat over the weekend, hovering around $61,500 by Monday. The brief spike helped BTC recover some early-October losses, while Ethereum also gained 3%, pushing the total crypto market past $2.1 trillion.
🛢 Oil prices dip after strongest weekly rise in over one year
Oil prices dipped on Monday after last week's sharp rally, with Brent crude down 0.36% to $77.77 and WTI slipping 0.26% to $74.19. Despite last week’s 8-9% surge on Middle East tensions, oversupply concerns and softer demand led to some profit-taking.
💹 Tackle your credit card debt with 0% interest until nearly 2026*
If you have outstanding credit card debt, getting a new 0% intro APR credit card could help ease the pressure while you pay down your balances. Our credit card experts identified top credit cards that are perfect for anyone looking to pay down debt and not add to it.
🏅 Gold prices decline as payrolls push bets on smaller rate cut
Gold prices slipped 0.2% to $2,647.64 an ounce on Monday, retreating from record highs as strong U.S. payroll data fueled expectations of smaller rate cuts by the Fed. Rising dollar and Treasury yields added pressure, while traders await further signals from the U.S. economy this week.
Our Recommendations:
💻️ MEXC - Where we find and trade Crypto with low fees.
📈 TradingView - Software we use to chart stocks.
🔐 Trezor - Our favorite hardware wallet to keep our Crypto secure.
🦑 Kraken - Where we buy crypto with cash / withdraw profit to our bank.
Quick Links
Stocks
Activist investor Starboard Value takes $1 bln stake in Pfizer (Investing.com)
Rio Tinto in Talks to Acquire Arcadium Lithium (TradingView)
Investing
3 Soaring Stocks to Hold for the Next 20 Years (Motley Fool)
Massive News for Nvidia Stock and Microsoft Stock Investors (Motley Fool)
Business
Stop Throwing Out Money: Pay No Interest Until 2026 (FinanceBuzz)*
*From our partners
Share The Investing Journal with your friends to receive rewards!
👀