This week, investors kept a close eye on key economic data and geopolitical developments, which stirred mixed sentiment across the markets. Despite strong U.S. GDP growth and upbeat corporate earnings, rising Middle East tensions and uncertainty surrounding the September jobs report have weighed on investor confidence.
In this edition, we cover the Dow’s latest dip, Nvidia’s stock rally, oil’s potential climb to $100, and the U.S. Dollar’s surge to a six-week high.
Let’s dive into the biggest market movers of the week!
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| Cartesian Therapeutics saw a major stock jump of 26% on Thursday, adding to an impressive 80% growth in the last month. |
*It is important to remember to assess your financial situation and risk tolerance, before engaging in copy trading. Past performance and forecast are not reliable indicators of future results.
Dow leads the decline as markets brace for jobs report
Stocks fell, with the Dow Jones ($US30) losing 0.4%, leading the day’s declines ahead of the highly anticipated September jobs report. Rising tensions in the Middle East sent oil prices climbing for the third consecutive day, adding to market concerns.
The S&P 500 ($SPX500) slid 0.2%, while the Nasdaq ($NAS100) dipped slightly. Investors are keeping a close eye on labor data, looking for signs of a cooling job market.
Trading involves significant risk of loss.
Nvidia shares jump as CEO touts ‘insane’ chip demand
Nvidia ($NVDA) stock soared 5% after CEO Jensen Huang announced "insane" demand for the upcoming Blackwell chips. While there were slight design setbacks, Huang confirmed that the chips are now in full-scale production, boosting investor confidence and sending shares higher. Despite some caution, market sentiment around Nvidia remains bullish, with the stock up 170% over the past year and an astonishing 2,700% over the last five years. Year-to-date, Nvidia has climbed roughly 150%.
Trading involves significant risk of loss.
Oil at $100? Traders position for price spike amid Middle East uncertainty
Oil prices ($UKOUSD, $USOUSD) jumped as President Biden's comments about potential Israeli strikes on Iran’s oil facilities stirred fears of supply disruptions. TP ICAP energy analyst Scott Shelton noted a surge in $100 oil call options, indicating that traders are hedging against a potential price spike.
Despite record options activity, Shelton believes it’s more about risk management than a belief that prices will hit $100 per barrel. He pointed out that with Saudi Arabia holding 3 million barrels in spare capacity and the UAE and Iran each contributing 1.5 million barrels daily, $100 oil remains a fear-driven scenario rather than an expectation.
Trading involves significant risk of loss.
Dollar set for biggest weekly gain since April amid market jitters
The U.S. Dollar ($EURUSD) is poised for its largest weekly rise since April, as investors seek safety amid Middle East tensions and a resilient U.S. labor market. An uptick in jobless claims points to a stable employment landscape, with economists predicting 140,000 new jobs in the upcoming non-farm payrolls report and unemployment steady at 4.2%.
The U.S. Dollar index is up 1.5% this week, hitting a six-week high of 102.09, signaling confidence in the U.S. economy despite global uncertainties.
Trading involves significant risk of loss.
This concludes our weekly recap. Have a great weekend and see you next week! 👋
