Weekly Update

Major Indices:

All 3 main US indices ended the week with gains. On Wednesday of last week, the US Federal Reserve announced that it was keeping interest rates steady and Fed Chair Jerome Powell announced that after 3 months of major price increases in early 2024, it would take longer to move back down towards the 2% target. The S&P 500 was at its low for the week on Wednesday, but settled in the green at 5,128 on Friday's market close. The Dow Jones Industrial Average closed at 38,675 points on Friday and recovered from the downward trend at the start of the week. The Nasdaq Composite stood at 16,156 points at the end of the trading day.

Currencies:

The US dollar reacted to the weakened US labor market data with a price drop, while the euro benefited from an upturn. The euro exchange rate rose to USD 1.8.

Commodities:

The price of gold is at €2,302 per ounce, while silver is at €24.67 per ounce. WITI Crude and Brent Crude were at 78.11$ per barrel and 82.96$ respectively.

Cryptocurrencies:

Bitcoin was last at €59,236.06 on May 5 and had a 5-day upwards trend of 4.22%. Meanwhile, Ethereum was at €2,914.09 and grew by 3.22% in the same period.

Growth:

CytomX Therapeutics rose 178.62% last week and established at 4.46$. Furthermore, there were 2 other companies that had a 100% growth week. Eliem Therapeutics grew by 155.15% and Emergent BioSolutions grew by 102.6%.

Flow Traders Investment Competition

In a week where not too much happened on the stock exchanges, it has also been a boring week in the Flow Traders Investment Competition. But that was not the case for Porto d'Oro! Their portfolio value increased by 4.25% causing them to climb to the 15th spot. For Negotium Novum however, things haven't been too well lately... The former competition leader has been dropping for weeks now, even losing their position in the competitions' top 10. Will they be able to recover?