Daily summary: Indices gain despite strong dollar 💰

20:03 8 December 2023
  • Wall Street stock indices are performing well on the last day of the week, gaining about 0.30-0.40%. The S&P 500 is trading above 4600 points, just below this year's highs of 4630 points.

  • Investors in Europe were even more upbeat, with Germany's DAX reaching new all-time highs and Poland's WIG20 once again attacking the 2300-point zone.

  • In the FX market, the Canadian dollar and the U.S. dollar are currently performing the best. The largest declines are seen in the New Zealand dollar and the Swiss franc.

  • The University of Michigan's consumer sentiment report showed a significant increase in sentiment with a simultaneous drop in inflation expectations. The data turned out to be exceptionally positive, exceeding analysts' expectations.

  • The NFP report from the U.S. job market again diverged from ADP, showing a larger-than-expected employment increase of 199,000. Forecasts anticipated a rise to 183,000 from 150,000 in October.

  • The NFP report indicates the strength of the U.S. job market. Moreover, the unemployment rate fell to 3.7%, and there was also a 0.4% month-over-month wage increase.

  • Gold prices (GOLD) are falling during today's session by nearly 1.5%, dropping below the 2000 dollar per ounce barrier due to stronger-than-expected non-farm employment data in the U.S.

  • In the cryptocurrency market, we are observing another wave of increases. This time, capital has clearly started to flow from Bitcoin to smaller projects. Smaller projects are approaching a key level (Total3) of 450 billion dollars in market capitalization, thus recording a 50% increase this year. Today, investors' attention is mainly drawn to Cardano, which gains over 18%.

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