Weekly Market Report: Monday, February 5th, 2024, to Friday, February 9th, 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 gain of the week: +0.11%
• Total pips gain of the week: Overall, about 11.8 pips gained this week.
• Fluctuations of price during the week: The price range for this week on DXY was between the low of 103.941 and high of 104.604.

This week was relatively less volatile as there were not many new events to drive the market. However, the market still had some new events that caused the bi-directional movement of price throughout the week. The high-impact news releases this week included the Unemployment claims, and ISM services PMI.

Price movement this week initially expanded upwards in continuation of the bullish movement from last week. However, this price movement was not sustained as price rallied back down and closed the week in a range. Though the week ended up overall bullish.

Dow Jones (US30)

• Overall Percentage loss of the week: -0.02%
• Total Points lost this week: only about 9.60 points gained overall
• Fluctuations of price during the week: With an opening price of the week on Monday  at 38638.31, the DOW started off with an impulsive bearish movement on Monday. However, this bearish movement was not sustained as the DOW resumed a bullish movement on Tuesday. Price then reversed and then closed at 38647.91. This week made a new record high at 38894.17 though price closed bearish and ended its four-week bullish streak.

The price action of the DOW this week ended up bearish lossing only 9.60 points.

Top three gainers this week: Intel Corporation (+1.906%), Microsoft Corporation (+1.555%), and International Business Machine Corporation (+1.074%).

Three Biggest losses this week: Chevrons Corp (-1.96%), Walt Disney Co. (-1.945%), and Caterpillar Inc (-1.503%).

Nasdaq (NAS100)

• Overall Percentage gain of the week: +1.89%
• Total Points gained this week: a colossal 333.63 points were gained this week in total.
• Fluctuations of price during the week: With an opening price at 17621.95 on Monday, the Nasdaq also began with a bearish move this week. However, this bullish movement was not sustained as the New York session of  Tuesday saw a very impulsive movement in price that was sustained till the end of the week to close at 17955.58. The NASDAQ made a record high this week again at 17988.55.

This week in the end showed an impulsive bullish move in continuation of last week's bullish move. This is the NASDAQs five-week bullish move streak

Top three Gainers this week: Applied Materials Inc (+6.872%), Lam Research Corp (+5.463%), and MongoDB Inc (+5.426%).

Three Biggest losses for the week: Moderna Inc (-6.673%), Dexcom Inc (-5.179%), and Illumina Inc (-3.83%).

Overall, the U.S. Dollar Index (DXY) recorded a little  gain of +0.11%, with a bidirectional bullish trend. Dow Jones (US30) experienced a rare bearish close, losing -0.02%, marking the first such occurrence in four weeks. Meanwhile, the Nasdaq (NAS100) faced substantial bullish movement, posting a significant gain of +1.89%, continuing in the last four weeks bullish trend.

The market movement this week was not really influenced by new releases as there were no high-impact news releases this week.