- Social Hub
- Offering
- Resources
- Company
- Partnerships
- Home
- Markets Updates
- NAGA Weekly Recap March 11 - 2024 – March 15 - 2024
Get ready to uncover the pulse of the market as we delve into the latest developments shaping stocks, currencies, commodities, and more. From the impact of US inflation on rate speculations to Microsoft's groundbreaking AI tool unveiling, we've got the insights you need to stay ahead.
Stocks stall as US inflation impacts rate speculations
The global stock market rally pauses as concerns over rising inflation in the United States dampen expectations for imminent interest rate cuts by the Federal Reserve. With MSCI's global equity index down 0.2% on Friday and flat for the week after seven weeks of consecutive gains, investors are reevaluating their positions in light of recent economic data.
The cautious mood sets in as U.S. producer prices rise more than anticipated, compounding concerns raised earlier in the week by elevated consumer inflation figures.
Trading involves significant risk of loss.
Microsoft surges as new AI tool unveiled
Microsoft's stock ($MSFT) is surging, set to hit a record high, following the announcement of Copilot for Security, an innovative AI tool designed to combat cybersecurity threats in businesses. With shares climbing 2.5% to $425.33 on Thursday, Microsoft is outperforming in both the Dow Jones Industrial Average and the Nasdaq 100.
Copilot for Security, leveraging Generative AI, promises swift response capabilities for teams across various business sizes, marking a significant advancement in cybersecurity measures. Initially introduced in March 2023, this tool underscores Microsoft's commitment to staying at the forefront of technological innovation.
Trading involves significant risk of loss.
Oil prices rally: heading for 4% weekly surge
Oil prices are poised to conclude the week with a substantial 4% increase, propelled by optimistic forecasts from the International Energy Agency (IEA) and unexpected drops in US stockpiles. Despite a minor dip on Friday, Brent Crude oil futures hover around $85 a barrel, while US West Texas Intermediate (WTI) crude remains near $80.
The IEA's revised projections for 2024 oil demand, coupled with disruptions in Red Sea shipping due to Houthi attacks, have contributed to the bullish sentiment in the market.
Trading involves significant risk of loss.
US Dollar holds ground ahead of key economic data
The US Dollar holds onto recent gains as it consolidates near 103.50 amid anticipation of crucial mid-tier data releases. After a subdued start to the week, the USD surged against its counterparts, marking a more than 0.5% increase on Thursday.
Eyes are now on February's Export and Import Price Index, Industrial Production figures, and the preliminary Consumer Sentiment Index for March, alongside the Empire State Manufacturing Survey results.
Will these data releases reinforce the USD's current momentum?
Trading involves significant risk of loss.
This concludes our weekly recap. Have a great weekend and see you next week! 👋
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.
Related articles
Need Help? Visit our Help Section
Download NAGA Trader
Markets
Platforms
Pricing & Terms
Company
Documentation
Partnerships
Help & Support
Social Hub
Free Education
News & Analysis
Download NAGA Trader
Copyright © 2024 – All rights reserved.
NAGA is a trademark of The NAGA Group AG, a German based FinTech company publicly listed on the Frankfurt Stock Exchange | WKN: A161NR | ISIN: DE000A161NR7.
The website is operated by NAGA Capital Ltd which is authorised and regulated by the Financial Services Authority Seychelles (FSA) under licence No. SD026. The registered address of Suite 3, Jivan’s Complex, Global Village, Mont Fleuri, Mahe, Seychelles. Tel: +248 4373121
Partner Companies: NAGA Markets Europe Ltd, authorised and regulated by the Cyprus Securities and Exchange Commission ("CySEC") under license No. 204/13 with registered address at Agias Zonis 11, Limassol, 3027, Cyprus and NAGA Global (CY) Ltd, with registered address at Nikokreontos 2, NICE DREAM, 6th floor, Flat/Office 601, 1066, Nicosia, Cyprus.
RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money. This is not investment advice. Trading with NAGA Trader by following and/or copying or replicating the trades of other traders involves high levels of risks, even when following and/or copying or replicating the Lead Traders. Such risks include the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Before making an investment decision, you should rely on your own assessment of the person making the trading decisions and the terms of all the legal documentation.
Restricted countries: NAGA Capital Ltd does not provide services for the residents of certain countries, such as Afghanistan, Albania, American Samoa, Anguilla, Australia, Austria, Barbados, Belarus, Belgium, Bermuda, British Indian Ocean Territory, Bulgaria, Burkina Faso, Canada, Cayman Islands, Central African Republic, Christmas Island, Cocos (Keeling) Islands, The Democratic Republic of the Congo, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Falkland Islands (Malvinas), Finland, France, Germany, Gibraltar, Greece, Guam, Haiti, Heard Island and McDonald Islands, Hungary, Iceland, Islamic Republic of Iran, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, Democratic People's Republic of Korea, Latvia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Mali, Malta, Montserrat, Mozambique, Myanmar, Netherlands, New Zealand, Norfolk Island, Norway, Palestinian Territory, Occupied, Pitcairn, Poland, Portugal, Romania, Russian Federation, Saint Helena, Ascension and Tristan Da Cunha, San Marino, Senegal, Serbia, Slovakia, Slovenia, Somalia, South Georgia and the South Sandwich Islands, South Sudan, Spain, Sri Lanka, Sweden, Switzerland, Syrian Arab Republic, Trinidad and Tobago, Tunisia, Turks and Caicos Islands, Uganda, Ukraine, United Kingdom and any other countries where the citizens have British proof of identity (i.e. British Virgin Island, Gibraltar, Isle of Man etc.), United States, U.S. Minor Islands, Vanuatu, Virgin Islands, British, Virgin Islands, U.S., Yemen, and Zimbabwe.