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NAGA Weekly Recap December 2 - 2024 – December 6 - 2024
6 December 2024
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Maxim Bohdan
This week, markets are in a holding pattern as investors brace for the pivotal U.S. jobs report, which could steer the Federal Reserve's next moves on interest rates. While U.S. stock futures hold steady near record highs, Bitcoin continues its surge past $100,000, reflecting strong risk appetite. Elsewhere, Nebius Group shines with a 17% rally following Nvidia's investment, gold remains anchored at $2,650, and GBP/USD extends its climb on a softer dollar.
As uncertainty looms, traders are keeping a close watch on economic signals and market movers.
Top Leader 🏆 PARRAVICINI | Highest Growth 📈 Bluebird Bio Inc |
Parravicini, an active trader, opened 32 trades this week, investing a total of $151,160.95. His focus was on IOTA/USD, leading with 16 trades, followed by ALGO/USD (4 trades), XRP/USD (3 trades), and a diversified selection across 9 other assets. IOTA/USD stood out as his primary focus, indicating a calculated strategy to capitalize on crypto trends. Parravicini’s diversified portfolio demonstrates a balanced approach to trading, leveraging both high-volume assets and niche opportunities for steady growth. | Bluebird Bio Inc (BLUE), a biotechnology company specializing in gene therapies, saw its stock skyrocket by 126.92% this week. The surge was fueled by positive clinical trial results for its experimental sickle cell treatment and growing optimism around an upcoming FDA decision. Investors are also encouraged by Bluebird's strategic focus on advancing its pipeline and addressing unmet medical needs in genetic diseases. The company’s momentum was further boosted by a favorable regulatory environment, reinforcing confidence in its long-term growth prospects. |
*It is important to remember to assess your financial situation and risk tolerance, before engaging in copy trading. Past performance and forecast are not reliable indicators of future results.
Markets Hold Steady Ahead of Key Jobs Data
US stock futures are treading water as investors await the latest jobs report, a critical indicator for assessing the Federal Reserve's next steps on interest rates. Futures for the Dow Jones Industrial Average ($US30), S&P 500 ($SPX500), and Nasdaq 100 ($NAS100) remain near record highs after a recent rally, while Bitcoin has soared past $100,000, underscoring a surge in risk appetite.
The jobs data will offer fresh insight into the economy’s resilience, following Fed Chair Jerome Powell's cautious optimism on monetary policy.
*Trading involves significant risk of loss.
Nebius Group Soars After Nvidia Joins $700M Investment
AI infrastructure company Nebius Group ($NBIS) surged over 17% to 25.75 after announcing a $700 million funding round led by Nvidia ($NVDA), alongside Accel and Orbis Investments. The Netherlands-based firm plans to expand its cloud computing capacity for AI model training and operations.
Previously part of Yandex, Nebius reemerged in July after a $5.4 billion split of Yandex's assets and resumed trading in late October. Now headquartered in Amsterdam and led by former Yandex CEO Arkady Volozh, Nebius is positioning itself against cloud giants like Amazon ($AMZN) and Microsoft ($MSFT), with plans to invest $1 billion in European AI infrastructure.
*Trading involves significant risk of loss.
Gold Stalls Near $2,650 as Markets Await US Jobs Data
Gold prices (XAU/USD) hover around $2,650, moving sideways as investors await key US Nonfarm Payrolls data. The labor market report is expected to shape expectations for the Federal Reserve's next interest rate decision, with markets currently pricing in a 25 bps cut in December. Uncertainty over the economic outlook keeps gold within a tight trading range, as traders remain cautious.
*Trading involves significant risk of loss.
GBP/USD Extends Gains Above 1.2700 on Softer US Dollar
The GBP/USD pair maintains its upward momentum for the third consecutive day, climbing past the 1.2700 level during the European session. Persistent US Dollar weakness and increased risk appetite ahead of key US economic data are supporting the pair's bullish trend.
*Trading involves significant risk of loss.
This concludes our weekly recap. Have a great weekend and see you next week! 👋
Trading leveraged products involves significant risk of loss. Refer to our Legal Documents Section.
IMPORTANT NOTICE: Any news, opinions, research, analyses, prices or other information contained in this article are provided as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. Past performance is not an indication of possible future performance. Any action you take upon the information in this article is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this article.
RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail client investors lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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