At-a-Glance
Today’s Top Highlights
The government shutdown discussions are leading the price action starting off the week today with optimistic narratives floating around giving many markets a boost higher. The equity indices broadly traded higher led by the Nasdaq trading up over 2% and the precious metals also saw a significant rise today with Silver treading up over 4% while Gold was up almost 3% on the day. Both the S&P and Nasdaq traded down near their 50-day moving averages and both bounced back higher from those levels, as they have traded above the 50-day moving average since the breakout above in May of this year.
The crypto markets also saw a boost to start the week with Bitcoin futures trading up near 2% while XRP futures led the charge higher trading up over 7% on the day. Both Bitcoin and Ether Futures traded down near or right below their 200-day moving averages and have rallied from those levels. With the current government shutdown, there is a lot of uncertainty baked into the market, and even if everything opens back up, there is still the risk that the reports that will be released will not be favorable and could add more volatility to the market heading into the end of the year.
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