US stocks close higher but snap 9-week winning streak to kick off 2024

Oil was up 1.5%, to $60.87 per barrelGold up less than 0.1%, to $1,576Silver Up 0.3%, to $18.97Cryptocurrency prices were all lower over the weekend.

Stocks in the US were up marginally on Friday, yet finished its first week of 2024 slightly impaired, ending a 9-week consecutive streak of gains. S&P 500 decreased by 2% in the commencement week, while the Nasdaq dropped 4%. Traders acted on the figures of a notable jobs report on the conclusion of the week which were indicative of a slowly yet nearly inevitable soft landing of the US economic context in 2024, raising doubts about the possibilities of a Federal Reserve rate cut in the near future. Further, the stock exchange of the tech industry experienced considerable upheaval in the initial days of trading due to the metrics of nonfarm payroll display which detonated expectations showing anYesterday went up of 216,000 jobs for December, far above the appraised 175,000.

“Our customers are encircled by the recent observations that in the former yours, plus further in 2024, the year will often change impact in the January, corresponding this problematical first week of the year suggest us to prepare for a difficult rest of the year,” Tom Lee – head of ‘Fundstrat’ – highlighted in his announcement on Friday. Across the bond markets, the bond on the 10-year Treasury skyrocketed over 4% in the morning in pursuit of the work report revelations,peaking but then settling back to a Solo mission of 3.95%.

Also, two of the prominent compasses in trading today at the 4 pm slot on Friday wereium Oil prices increased by 1.5% and was Makha around $60.87 per barrel, Gold increased marginally since $1.576 while silver hiked up by 0.3%. Crypto currency prices also were slightly down howtheBe weekend.</p

Robert Wilson author
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