Weekly Market Report: Monday, December 4th, 2023, to Friday, December 8th, 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 Gain of the week: +0.77%
  • Total Pip-Gain of the week: about 79.0 pips were gained this week.
  • Fluctuations of price during the week: The price range for this week on DXY was between the low of 103.064 and the high of 104.263.

It was a news-filled week for the DXY as it began at 103.193 with a 104 pips surge upwards, only to experience a -96.1 pips sharp decline on Wednesday. The price then resumed an upward move, reaching the highest high of the week at 104.263 on Friday and closing at 103.983.

The fluctuation in price resulted from high-impact news, including JOLTS Job Openings, BOE Gov Bailey Speaking, unemployment claims, unemployment rate, and Non-farm Employment change.

This week showed a very strong bullish move in contrast to the previous weeks' continuous bearish moves.

Dow Jones (US30)

  • Overall Percentage loss of the week: -0.05%
  • Total Points lost this week: about 16.78 points lost
  • Fluctuations of price during the week: With an opening price on Monday at 36240.71, the Dow ranged between its highest high at 36299.21 and the lowest low at 35951.79 made on Wednesday and Friday respectively. The DOW then closed at 36223.93 for the week.

The price of the DOW this week ended up being more indecisive. Though the week was packed with lots of news, the Dow just kept ranging, not making any overall significant move higher or lower this week.

Top three gainers this week: Boeing Co (+3.105%), Goldman Sachs Group Inc (+1.802%), and Chevron Corp (+1.327%).

Biggest losses this week: Honeywell International Inc (-1.608%), Walmart Inc (-1.05%), and Verizon Communications Inc (-1.035%).

Nasdaq (NAS100)

  • Overall Percentage gain of the week: +0.57%
  • Total Points gained this week: about 90.75 points gained this week in total.
  • Fluctuations of price during the week: With an opening price at 15984.75, the Nasdaq began with a very sharp decline this week till it made its lowest low on Monday at 15691.90 and then began its uptrend from there till it made its highest high at 16102.01 on Friday. Then the Nasdaq finally closed at 16075.50 for the week.

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

Top three Gainers this week: Warner Bros Discovery Inc (+6.007%), Lucid Group Inc (+5.58%), and Lululemon Athletica Inc (+5.374%).

Three Biggest losses for the week: Enphase Energy Inc (-3.882%), Illumina Inc (-3.577%), and Dollar Tree Inc (-1.838%).

Conclusively, the trading week brought forth notable shifts across DXY, Dow Jones, and the Nasdaq. 

DXY showcased a robust bullish momentum amid impactful economic news, diverging from its recent bearish trend. 

The Dow, amidst a sea of events, displayed a somewhat indecisive nature, maintaining a range-bound trajectory. On the Nasdaq front, the bullish streak continued, with significant gains for Warner Bros Discovery Inc., Lucid Group Inc., and Lululemon Athletica Inc. 

Remember to always remain vigilant, and ready to navigate the evolving landscape of financial markets in the weeks to come.

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