🗓WEEKLY MARKET OUTLOOK:
📁Tuesday: Consumer Confidence; $UPS $V $KO $GM $HOOD $SPOT Earnings
📁Wednesday: Fed Meeting, Powell; $MSFT $GOOGL $AMZN $META Earnings 🚨
📁Thursday: Q1 GDP, Core PCE Index, Jobless Claims; $AAPL $SNDK $CAT $LLY $MA Earnings
📁Friday: ISM Mfg. PMI; $XOM $CVX Earnings
1️⃣Crude Oil climbed 2.91% to $99.17 per barrel on Tuesday as efforts to end the U.S.-Iran war appear stalled, with daily transits through the Strait of Hormuz near zero. Iran submitted a new proposal to reopen the strait contingent on the U.S. lifting its blockade, but the White House has yet to respond positively, keeping supply disruption fears elevated.
2️⃣Gold fell to a three-week low as rising crude oil prices fueled inflation concerns, strengthening the U.S. dollar and capping gold's safe-haven appeal. Analysts warn spot gold could test support at $4,600 in the near term, especially if the upcoming FOMC meeting on April 29 signals a hawkish stance.
3️⃣The S&P 500 edged up 0.12% to a record 7,173.91 and the Nasdaq Composite added 0.20% to close at 24,887.10, driven by strong performances from Nvidia and Alphabet. Only three sectors finished in the green, with gains concentrated in mega-cap tech while consumer-facing names like Domino's Pizza weighed on the broader market.
4️⃣Bitcoin slipped 0.71% to $76,820.67, pulling back after briefly surpassing $79,000 earlier in the week as investors adopted a cautious stance ahead of the FOMC meeting and ongoing U.S.-Iran diplomatic uncertainty. Ethereum similarly failed to break through the $2,400 resistance level, reflecting a broader pause in crypto momentum as macro risks dominate sentiment.
#GOLD #stock #crypto