The investment market displayed remarkable strength as the Dow Jones
Industrial Average and S&P 500 surged over 1%, reaching 37863.8 and
4839.81 respectively. The Nasdaq composite attained its highest level in
two years, marking a second consecutive week of substantial gains; it
outperformed with a remarkable 2.3% rally - 15310.97 points- while the
Russell 2000 small-cap index rebounded, closing approximately 1% higher.
The New York Stock Exchange witnessed robust market breadth, with
positive momentum exceeding a 2-to-1 ratio. This week the technology
sector was a top gainer, as evidenced by the upcoming earnings reports of
Netflix (NFLX) and Tesla (TSLA). Furthermore, the communication
services sector and defensive sectors such as health care and consumer
staples also demonstrated notable strength, adding a layer of diversification
to the market. As the market navigates the earnings season, particularly
with a focus on all key tech players, investors remain cautiously optimistic,
evaluating the resilience of various sectors and anticipating potential
investment opportunities amid the market's upward trend.
Bonds
As of 18:50 on Jan 21, 2024 the current yield of US 10-YR stands at
4.13%, the highest increase was experienced by US 2-YR by +0.032,
whereas the highest yield belongs to US-2MO - 5.402%.
CRYPTOCURRENCIES
In the aftermath of the SEC historic approval of 11 bitcoin ETFs last
Wednesday, the cryptocurrency market experienced a dip in prices early
Friday. Notable ETF issuers, including ARK Invest, BlackRock, Grayscale,
and VanEck, received approval. Bitcoin, which had spiked to $49,000 on
the ETF launch day, retreated to below $41,000 overnight, settling around
$41,300 on Friday morning. Despite a 157% rebound in 2023, Bitcoin is
down 2.3% year-to-date. Currently hovering around $2,490, Ethereum
experienced a robust 92% jump in 2023 and has surged over 10.2% in the
first few weeks of 2024.
Currencies
EUR/USD exchange closed at 1.09 on January 19th and EUR/JPY at
161.137. U.S. Dollar Index settled at 103.24 with a 0.82% increase this
week.
Commodities
The gold price is 2029.49 per ounce, whereas silver is 22.62 per ounce.
Natural gas stays at USD 2.25 per MMBtu, gasoil USD 796.25 per MT
and RBOB gasoline at USD 216.28 per gallon.
Flow Traders Investment Competition
In the 10th week of this years' Flow Traders Investment Competition K2 Capital has entered the top 10 for the first time this year! Can they keep climbing the ranking? Also Primus has had a great week! By winning 11 spots they have entered the left side of the ranking with a M2 return of 4.28%. However, this week has not been that good for everyone... Urban Investments has lost 16 positions this week by losing almost 2% of their return. Will they be able to recover from this in the upcoming weeks? Furthermore, De Ruyter Capital has left behind the last position in the Flow Traders Investment Competition. Will they be able to stay away from this unwanted last spot?
