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Market News US Stocks Closed Down Collectively, the US Index Pushed Up to the 108 Mark
Markets News
US Stocks Closed Down Collectively, the US Index Pushed Up to the 108 Mark
TOPONE Markets Analyst2022-11-22 09:30:00
Hot spot tracking
- U.S. stocks closed down collectively, the U.S. index pushed up to the 108 mark, and gold fell below 1740
- Railroad unions reject contracts, again threatening U.S. economy
- Germany to introduce gas and electricity price brakes on Tuesday
Product Hot Comment
ForexThe U.S. dollar index rose 1% during the day and reached the 108 mark, but failed to stand above the mark, and finally closed up 0.79% to 107.81.📝 Review:The dollar rose against most major currencies on Monday, recouping recent losses as the outbreak stoked worries about the global economic outlook and kept traders shunning riskier currencies, boosting the greenback, which is seen as a safe haven in times of stress safe haven.🕵️ Operation suggestion:go short EUR/USD at 1.02408, target price 1.01567
GoldDue to the strengthening of the US dollar and US bond yields, spot gold fell more than 1% intraday to as low as US$1,732.10 an ounce, fell below the US$1,740 mark, and closed down 0.72% at US$1,738.18 an ounce. Spot silver fell below the $21 mark, closing down 0.45% at $20.85 an ounce.📝 Review:Gold prices slipped to their lowest in more than a week on Monday, down more than 1 percent, as the dollar extended gains while the focus turned to minutes from the Federal Reserve's November meeting. Trading hours were shortened this week due to public holidays.🕵️ Operation suggestion:go short at 1737.80, the target price is 1723.02
Crude OilBefore the opening of the U.S. stock market, foreign media reported that OPEC+ was discussing an increase in production of 500,000 barrels per day, which caused the oil prices in the United States and Burundi to plummet by more than 6%, both hitting new lows for the year. The price of WTI crude oil once fell to 75.27 US dollars per barrel. The front-month Brent crude oil futures contract entered contango over the second-month contract for the first time since August. Subsequently, Saudi Arabia denied the discussion of increasing production, and WTI crude oil turned up, returning to above $80/barrel; Brent crude oil's decline narrowed to less than 0.5%. In the end, WTI crude oil closed up 0.14% at $80.25/barrel; Brent crude oil closed down 0.23% at $87.62/barrel. NYMEX US December natural gas futures closed up 7.50%, while the European benchmark TTF Dutch natural gas futures fell 1.5% in late trading.📝 Review:Oil prices recovered from early losses on Monday after Saudi Arabia denied reports it was in discussions with OPEC and its allies to increase oil supplies.🕵️ Operation suggestion:go short at 80.196, target price 75.351
IndiceThe three major U.S. stock indexes closed down collectively. The Dow closed down 0.13%, the Nasdaq closed down 1.09%, and the S&P 500 closed down 0.39%. New energy vehicle stocks, popular Chinese concept stocks, and charging piles were among the top losers. Tesla closed down 6.8%, and its stock price continued to hit a two-year low.📝 Review:Major U.S. stock indexes closed lower on Monday amid thin trading volume on Monday amid growing concerns about the outbreak, with volume likely to shrink further ahead of the Thanksgiving holiday on Thursday, making the market more prone to volatility.🕵️ Operation suggestion: short Nasdaq index at 11555.900, target price 11378.200
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