HomePricingFAQsAbout usContacts
en_US
en_US es_ES it_IT de_DE el tr_TR cs_CZ ja

Weekly Market Report: Monday, February 26th, 2024, to Friday, March 1st, 2024.

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: -0.07%
  • Total pips gain of the week: Overall, only about 7.6 pips was lost this week.
  • Fluctuations of price during the week: The price range for this week on DXY was between the high of 104.292 and low of 103.608.

This trading week marked the last trading week of February and transitioned into the first trading day and week of March.

This week was packed with some high-impact news releases that affected the DXY and indices. Price ranged for only about 68 pips. The high-impact news releases this week included the Unemployment Claim, FOMC, Manufacturing PMI, Revised UoM Consumer sentiment.

Price movement this week initially was in a bullish trend. However, this intraday bullish trend was cut short as a result of the news releases which price in the opposite direction. And then, price ranged for the rest of the week.

Dow Jones (US30)

  • Overall Percentage lost of the week: -0.18%
  • Total Points gained this week: only about 69 points was lost this week.
  • Fluctuations of price during the week: With an opening price of the week on Monday  at 39113.26, the DOW started off with an impulsive bearish move on Monday. However, this bullish movement was cut short as the New York session of Wednesdays price action saw a reversal which continued for the rest of the week to close at 39043.54.

The price action of the DOW this week ended up bearish.

Top three gainers this week: Salesforce Inc (+2.61%), Amgen Inc (+2.374%), and Intel Corp (+1.789%).

Three Biggest losses this week: Boeing Co (-1.826%), Nike Inc (-1.622%), and Travelers Companies Inc (-0.969%).

Nasdaq (NAS100)

  • Overall Percentage gain of the week: +2.09%.
  • Total Points gained this week: a colossal 373.58 points were gained this week in total.
  • Fluctuations of price during the week: With an opening price at 17911.78 on Monday, the Nasdaq also began with a corrective bearish move this week till where price made the low of the week at 17789.75. However, this bearish movement was not sustained for the rest of the week as Thursday saw an upclimb in price till where price made the high of the week at 18337.66. Price then closed for the week at 18285.36. The high of the week is also the record high of NASDAQ.

This week in the end showed an impulsive bullish move in continuation of last week's bullish move.

Top three Gainers this week: Marvell Technology Inc (+8.373%), Broadcom Inc (+7.588%), and Dexcom Inc (+5.797%).

Three Biggest losses for the week: Zscaler Inc (-9.398%), Xcel Energy Inc (-5.921%), and Sirius XM Holdings Inc (-3.394%).

In conclusion, this week's market movements were marked by mixed trends across DXY, Dow Jones (US30), and the Nasdaq (NAS100).

While DXY experienced a slight loss, Dow Jones saw a moderate decline, and Nasdaq surged with impressive gains, reaching record highs.

The week was characterized by high-impact news releases influencing price movements, leading to shifts in market sentiment.

Despite initial bullish trends, DXY and Dow Jones faced reversals, whereas Nasdaq showcased resilience with an impulsive bullish surge.