HomePricingFAQsAbout usContacts
en_US
en_US es_ES it_IT de_DE el tr_TR cs_CZ ja

Weekly Market Report: Monday, August 26th, 2024, to Friday, August 30th, 2024.

Good day, traders!

Welcome to this week's market report where we share with you some important data and highlight major market events that occurred during the trading week as they relate to the U.S. Dollar Index (DXY), Dow Jones (US30), and the Nasdaq (NAS100).

DXY

  • Overall Percentage Gain of the week: +1.05%
  • Total Pip gain of the week: overall, a massive one hundred and five pips (105 pips) were gained this week.
  • Fluctuations of price during the week: The price range for this week on DXY was between the low of 100.514 and the high of 101.783.

This week was moderately packed with red-folder news that influenced the bullish movement of the US. Dollar Index.

Though the week was not filled with a lot of red folder news, the DXY did move impulsively in the bullish direction in reaction to the news events released. Monday which had no news saw price close bullish indicating the bullish sentiment for the week. Tuesday making the low of the week at 100.514, saw the only bearish close for the week. Wednesday till Friday, reactions to the high impact news events soared bullish impulsively making the high of the week on Friday at 101.783 and closing for the week at 101.732. The red folder news is the CB Consumer Confidence, German Prelim CPI m/m, Prelim GDP q/q, Unemployment Claims, CPI Flash Estimate y/y, Core PCE Price Index m/m among other news releases.

The DXY closed positive for the first time in the past five weeks!

Dow Jones (US30)

  • Overall Percentage Gain of the week: +0.83%
  • Total Points gained this week: a moderate three hundred and forty two (342) points were gained this week
  • Fluctuations of price during the week: Opening for the week on Monday at 41,204.41, the DOW initially began with a bullish move that was short-lived till Wednesday when the DOW began a brief bearish course that lasted only for the day making the low of the week at 40,851.20. However, upon the release of news on Thursday, the DOW began propelling impulsively upwards until it made the high of the week at 41,604.04. On Friday, the DOW closed for the week and month of August at 41,546.67.

The price action of the DOW this week was bi-directional as it showed both bearish and bullish intent during the week but overall closing bullish.

According to CNBC below are the top three gainers and losers this week.

Top three gainers this week: Intel Corp (+9.488%), Amazon.com Inc (+3.707%), and International Business Machines Corp (+1.624%).

Three Biggest losses this week: Salesforce Inc (-1.599%), American Express Co (-0.458%), and Apple Inc (-0.344%).

Nasdaq (NAS100)

  • Overall Percentage loss of the week: -0.83%
  • Total Points lost this week: only about one hundred and sixty-four (164) points were lost overall.
  • Fluctuations of price during the week: With an opening price of 19,787.75 on Monday, the Nasdaq began with a bearish move, giving a bearish sentiment for the week which lasted till Wednesday. However, from Thursday after creating the low of the week at 19,140.25, price began an impulsive bullish move which extended to Friday where the NASDAQ closed for the week and month at 19,623.00.

Overall, the NASDAQ experienced a bidirectional move this week which later closed bearish.

According to CNBC below are the top three gainers and losers this week.

Top three Gainers this week: MongoDB Inc (+18.342%), Intel Corp (+9.488%), and Marvell Technology Inc (+9.164%).

Three Biggest losses for the week: Grail Inc (-4.791%), Super Micro Computer Inc (-2.478%), and Illumina Inc (-1.779%).

In summary, the week of August 26th to August 30th, 2024, presented a mixed performance across major U.S. markets. 

The U.S. Dollar Index (DXY) ended a five-week losing streak with a strong bullish close, driven by key economic news. The Dow Jones (US30) also posted gains, reflecting a generally positive sentiment despite some mid-week volatility. Meanwhile, the Nasdaq (NAS100) faced challenges, ending the week with a slight loss despite a late-week rally. Overall, the markets showed resilience, with significant movements in response to economic data and investor sentiment shaping the week's outcomes.

Goatfunded Traders are hereby implored to consider the economic calendar and their potential effect on the markets.