- Social Trading
- Offering
- Resources
- Education
- News and Analysis
- Tools
- Company
- About Us
- Help & Support
NAGA Weekly Recap October 14 – October 18 - 2024
18 October 2024
209 views
Share the article:
Maxim Bohdan
The markets are buzzing as the S&P 500 reaches new heights and the Dow breaks the 43K barrier, fueled by a tech rally ahead of an action-packed earnings week. While Netflix impresses with subscriber growth and solid revenue figures, crude oil faces its largest weekly drop in over a month amid mixed economic data from China. In the forex space, GBP/USD edges higher, but rate-cut speculations limit gains.
Catch up on the key stories moving the markets this week!
Top Leader 🏆 | Highest Growth 📈 |
Nicehome34 Builds a Second Story of Success, being the top trader twice in a row. He closed 64 trades and made a total profit of $28,616, he has once again demonstrated a consistent and disciplined trading strategy. Focusing on major indices and currencies, particularly the NAS100, EUR/USD, and US30, Nicehome34 continues to carefully manage risk while pursuing steady intraday returns. Most traded assets: NAS100, EUR/USD, US30 This trader's results highlight a balanced approach to market movements, with both smaller and more substantial profits contributing. | Sartorius AG saw its stock rise by 15.53% over the past week. Despite reporting lower sales and profits for the first nine months of 2023, the company’s projections for a return to profitable growth in 2024 have fueled investor optimism. Sartorius expects increased orders, especially in its Bioprocess Solutions division, which is critical for its future success. Investors are showing confidence in the company’s long-term market strength and strategic outlook. |
*It is important to remember to assess your financial situation and risk tolerance, before engaging in copy trading. Past performance and forecast are not reliable indicators of future results.
S&P 500 hits new record, Dow breaks 43K milestone
Wall Street closed with gains as both the S&P 500 and the Dow marked new record highs, fueled by investors' interest in technology stocks ahead of a significant week filled with corporate earnings reports and key economic updates.
Trading activity was relatively light, with bond markets closed due to the federal holiday; around 9.55 billion shares were traded, below the 20-day average of 12.05 billion shares.
Nevertheless, the positive momentum from Friday's strong start to the third-quarter earnings season by major banks propelled the Dow Jones Industrial Average to surpass the 43,000-point mark for the first time.
Trading involves significant risk of loss.
Netflix earnings, subscriber growth top estimates as investors eye potential price hikes
Netflix shares ($NFLX) surged up to 5% in after-hours trading on Thursday as the company exceeded third-quarter earnings per share (EPS) and revenue forecasts, and projected stronger-than-expected sales for the current quarter.
The streaming giant reported Q3 revenue of $9.83 billion, surpassing Bloomberg's consensus estimate of $9.78 billion and marking a 15% year-over-year increase.
The growth was driven by its initiatives like cracking down on password sharing, expanding its ad-supported subscription tier, and last year’s price hikes on select plans.
Trading involves significant risk of loss.
Oil prices stabilize, set for largest weekly drop in over a month
Crude oil futures stabilized on Friday following robust U.S. retail sales figures, but mixed economic data from China kept the market cautious, leading to the largest weekly decline in over a month amid demand concerns.
Brent crude futures edged up 0.1% to $74.53 per barrel, while U.S. West Texas Intermediate (WTI) crude rose 0.2% to $70.82 per barrel.
Trading involves significant risk of loss.
GBP/USD edges up to 1.3025 amid softer USD, BoE rate cut bets limit gains
GBP/USD continues its recovery from a two-month low, though further upside appears constrained. The softer USD prompts some bulls to take profits, offering support to the pair. However, a surprising decline in UK inflation reinforces expectations of more Bank of England (BoE) rate cuts, capping the pound's potential gains.
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.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. of retail investor accounts 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.
Need Help? Visit our Help Section
Download NAGA Trader
Markets
Platforms
Pricing & Terms
Company
Documentation
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 Markets Europe LTD which is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence No. 204/13. The registered address of NAGA Markets Europe LTD is Agias Zonis 11, Limassol 3027, Cyprus. Previous Domain: www.nagamarkets.com.
Registrations: BaFin reg. 135203 | Consob reg. 3844 | CNMV reg. 3591
RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.41% of retail investor accounts 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.
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 top-performing 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 regions: NAGA Markets Europe LTD offers services to residents within the European Economic Area, excluding Belgium. NAGA Markets Europe LTD does not provide investment and ancillary services in the territories of third countries.
Affiliate programs are not permitted in Spain for the investment service commercialisation or client acquisitions by unauthorised third parties.
Los programas de afiliados no están permitidos en España para la comercialización de servicios de inversión y captación de clientes por parte de terceros no autorizados.
RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.85% of retail investor accounts 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.