Weekly Market Report: Monday, December 11th, 2023, to Friday, December 15th, 2023.

Good day, traders!

Welcome to this week's edition of our weekly market review, where we share with you some important data and highlight major market events that occurred during the trading week as they relate to DXY, Dow Jones (US30), and the Nasdaq (NAS100).

DXY

  • Overall Percentage Loss of the week: -1.34%
  • Total Pip-Loss of the week: about 138.9 pips was lost this week.
  • Fluctuations of price during the week: The price range for this week on DXY was between the high of 104.262 and low of 101.770

It was also news-filled this week for the DXY. Its unidirectional bearish move began after price had peaked its high of the week at 104.262 on Monday. Driven by the news, price impulsively plummeted till Thursday where it made the low of the week at 101.770. This impulsive move downward ended on Thursday and price retraced on Friday closing at 102.594.

The fluctuation in price resulted from high-impact news, including CPI, FOMC, BOE Gov. Bailey speaking, Unemployment claims among many others.

This week showed a very strong bearish move in contrast to last weeks' bullish move.

Dow Jones (US30)

  • Overall Percentage gain of the week: +3.08%
  • Total Points gained this week: a massive 1116.34 points gained
  • Fluctuations of price during the week: With an opening price on Monday at 36223.93, the Dow impulsively moved upwards. This week's range for the DOW was between its lowest low at 36201.72 and the highest high at 37445.63 made on Monday and Friday respectively. The DOW then closed at 37340.27 for the week.

Fuelled by the news, the price action of the DOW this week showed a very strong bullish move upwards as opposed to the indecisive move of last week. The news release of this week seems to have impacted the DOW a lot.

Top three gainers this week: Boeing Co (+3.134%), Intel Corporation (+2.169%), and Salesforce Inc (+1.707%).

Biggest losses this week: Verizon Communications Inc (-1.32%), Johnson & Johnson (-1.09%), and McDonald's Corporation (-0.948%).

Nasdaq (NAS100)

  • Overall Percentage gain of the week: +3.32%
  • Total Points gained this week: a colossal 646.20 points gained this week in total.
  • Fluctuations of price during the week: With an opening price at 16068.63, the Nasdaq began with a very strong bullish move this week on Monday from where it made its low for the week at 16029.50. This strong bullish momentum continued till Thursday. Price retraced a bit and then came to peak the high of the week at 16675.70 on Friday.

This week's bullish move is in continuation with the previous five weeks' continuous bullish move.

Top three Gainers this week: JD.Com Inc (+4.459%), Costco Wholesale Corp (+4.445%), and Atlassian Corp (+3.443%).

Three Biggest losses for the week: Lucid Group Inc (-7.198%), Exelon Corporation (-6.359%), and Sirius XM Holdings Inc (-5.097%).

In summary, this week unfolded with compelling narratives across DXY, Dow Jones, and the Nasdaq.

DXY faced a formidable bearish surge, triggered by a cascade of impactful news, contrasting sharply with the preceding bullish trend.

Dow Jones, fueled by significant news releases, exhibited a robust bullish climb, marking a stark departure from the indecisiveness of the previous week.

Meanwhile, the Nasdaq continued its bullish stride, with substantial gains for JD.Com Inc, Costco Wholesale Corp, and Atlassian Corp.

As we navigate these dynamic market shifts, traders remain attuned to the influence of evolving global events, shaping the intricate dance of financial markets in the weeks ahead.

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