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Market Overview Week 23 | Investment Competition | Week 30


Weekly Update


The S&P 500 closed at 5,346.99 points on Friday. Investors are eagerly awaiting the Fed's possible interest rate turnaround. The Fed is currently keeping monetary policy tight in order to lower inflation and cool down the hot labor market. In May, 272,000 new jobs were created, far exceeding the expected 185,000., making a rate cut less likely in the near future. Meanwhile, the Nasdaq closed at 19,000.95 points and the Dow Jones at 38,798.99 points. The 5-day growth was 1.79% and 0.23% respectively. The Euro Stoxx 50, which has performed well so far this year, closed at 5051.31 points on Friday.


The price of gold was USD 2,935.85 per ounce and the price of silver was USD 38.66 per ounce. WTI Crude Oil was at USD 75.53 per barrel, while Brent Crude was at USD 79.62 per barrel.


On Saturday, Bitcoin stood at EUR 64,236.32 and Ethereum at EUR 3,405.94. Both cryptocurrencies suffered a sharp fall on Friday due to reduced expectations regarding rate cuts. The high number of new jobs and the rise in the unemployment rate to 4% caused cryptocurrencies to fall.


Flow Traders Investment Competition:

Newcomers Asteria has entered the competitions' top 3! With a total return of over 39% and only four more weeks to go they're serious contenders to win the competition. Furthermore, Concordia International keeps climbing up the ranking, will they be able to finish in the competitions' top 10?


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