At-a-Glance
Today’s Top Highlights
Markets are seeing a mix in price action today starting off the week, with equities broadly trading higher while the precious metals are selling off again. Gold and Silver both traded over 3% lower on the day, and Gold is now near $300 off its all time high while Silver is around $6 below its recent all time high price. The volatility traders were seeing in the precious metals while the market was rising is now present again but to the downside, and the main question that remains is whether the selling will continue or will these markets be able to rebound back towards all time highs.
The equities did have a strong day today after a strong finish to the week on Friday hitting new all time high prices, which was led by the Nasdaq trading up near 1.9% on the day. This week will bring a lot of key earnings reports, looking at Microsoft, Alphabet, Meta, Apple, and Amazon that can have a strong impact on the equity indices. The CME Fed Watch Tool has seen little change, and the sentiment is showing 50 more basis point interest rate cuts for the remainder of the year, but with the government shutdown and the recent volatility seen, that figure could change anytime.
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