At-a-Glance
Today’s Top Highlights
Coming off of the long weekend, markets across the board are seeing strong volatility with the equities and crypto futures selling off while the precious metals had a strong start to the week. The equities, specifically the S&P and Nasdaq, traded lower by over 2% and all Mag 7 stocks traded lower on the day. It is important to note that the equities saw selling pressure after reaching a new all time high in October and fell near 6%, and then ultimately came back to reach new all time highs a month later, so seeing these prices fall from all time high levels does not necessarily signal that the bull run is over for these markets.
The precious metals had the opposite effect today with Gold and Silver reaching new all time highs again. Over the weekend there were more headlines that show global tensions potentially rising, and as the equities sold off from this the precious metals were able to see a boost in price today. Looking ahead for the rest of the week, traders will be looking for key economic data such as GDP, Core PCE, and remarks from President Trump that could all keep the volatility elevated as we have seen today.
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