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NAGA Weekly Recap November 18 - 2024 – November 22 - 2024
22 November 2024
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Maxim Bohdan
Here's your weekly market roundup for November 18-22!
Catch the key highlights: Nvidia posted record-breaking revenue, propelling its stock to new heights; gold rallied toward $2,700 as geopolitical tensions escalated; and USD/JPY neared 154.00 on expectations of a BOJ rate hike. Meanwhile, U.S. stocks rebounded with the Dow leading the way after a volatile week.
Stay tuned for a deep dive into the market's biggest moves!
Top Leader 🏆 Nicehome34 | Highest Growth 📈 Luminar Technologies Inc. |
This week, Nicehome34 executed a remarkable 137 trades, securing a total profit of $50,223. His focus remained firmly on indices, with $NAS100 leading the pack at 70 trades, followed by $US30 and $GERMAN30. Leveraging precise timing, he capitalized on small but consistent gains while navigating occasional losses with a calculated approach. Notably, Nicehome34's strategy showcased effective scaling on $NAS100, balancing high-frequency trades with solid risk management. This disciplined focus continues to underline his status as a methodical and effective indices trader. | Luminar Technologies Inc. ($LAZR), a lidar leader in autonomous vehicles, recently executed a 1-for-15 reverse stock split, boosting its stock price to a 52-week high of $11.39. While the split inflated nominal value, actual financials remain mixed, with Q3 revenue of $15.49 million missing expectations but losses aligning with forecasts. New partnerships with Volvo and a Japanese OEM and excitement over the 2026 launch of the Halo LiDAR system highlight potential for long-term growth. |
*It is important to remember to assess your financial situation and risk tolerance, before engaging in copy trading. Past performance and forecast are not reliable indicators of future results.
Dow, S&P 500 Surge as Nasdaq Stabilizes
US stocks seesawed as investors weighed Nvidia's earnings alongside a sharp drop in Alphabet's shares following the Department of Justice's push to dismantle parts of its business.
The Dow Jones Industrial Average ($US30) climbed over 450 points, rising about 1.1%, while the S&P 500 ($SPX500) added 0.5%. The Nasdaq Composite ($NAS100) managed to reverse earlier losses, closing slightly in positive territory.
*Trading involves significant risk of loss.
Nvidia Reports Record Revenue on Strong GPU Demand
Nvidia ($NVDA) posted a record $35.1 billion in revenue for the third quarter of 2024, driven by surging demand for its current GPUs and overwhelming interest in its next-generation Blackwell hardware.
Quarterly revenue jumped 17% compared to the previous period and an impressive 94% year-over-year. The company also reported its highest-ever data center revenue, which climbed 17% sequentially and 112% from a year ago, reaching $30.8 billion.
Shares edged up slightly, gaining less than 1%.
*Trading involves significant risk of loss.
Gold Rises Toward $2,700 Amid Geopolitical Strains
Gold prices extended gains for the fifth straight session on Friday, reaching nearly two-week highs around $2,690 during Asian trading. Heightened Russia-Ukraine tensions drove investors toward safe-haven assets, providing strong support for the precious metal's ongoing rally.
*Trading involves significant risk of loss.
USD/JPY Nears 154 as BOJ Rate Hike Looms
The Bank of Japan is expected to raise interest rates at its December meeting, driven by a robust economy and concerns over the weakening yen, according to a Reuters poll of economists.
Most analysts predict further hikes as policymakers respond to inflationary risks following Donald Trump's November 5 election win. Despite the US dollar strengthening, $USDJPY slid to near 154.00 in anticipation of the BOJ's actions.
*Trading involves significant risk of loss.
This concludes our weekly recap. Have a great weekend and see you next week! 👋
Trading leveraged products involves a significant risk of loss and is not suitable for all investors.
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.
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