The financial economic news shows US stocks seem to have not found a peak yet, while Bitcoin has also skyrocketed to near $90,000. In contrast, the price of gold has dropped 2.5%, to below $2,620/ounce.
US Stock Market Situation November 11: At the end of the session, the Dow Jones index increased by 0.69% to 44,293.69 points, the first time this index has exceeded the 44,000 mark. The S&P 500 inched up by 0.1% to 6,001.35 points, recording a record high, also surpassing the 6,000 mark for the first time. Meanwhile, the Nasdaq Composite was almost flat, around 19,298.76 points.
The cryptocurrency market also witnessed a wave of excitement when Bitcoin reached the milestone of $90,000 overnight, before falling back to around $88,000. Investors even expected that the price could reach the $100,000 mark before the end of 2024.
On the US Treasury bond situation, US Treasury yields fell to 4.322%.
About the Dollar Index situation, the USD index measuring the greenback's movements against six major currencies increased 0.5% to 105.5.
About Gold Situation, the world gold price continued to fall 2.5%, below 2,620 USD. Spot gold contracts fell 2.5% to 2,617.96 USD/ounce. Gold futures contracts lost 2.9% to 2,617.70 USD/ounce.
Economic and financial news on the commodity market situation: At the end of the trading session on November 11, Brent oil contract decreased by 2,76% to 71.83 USD/barrel. WTI oil contract decreased by 3,32% to 68.04 USD/barrel.
Crude oil supply from countries outside the Organization of the Petroleum Exporting Countries (OPEC) is expected to increase by 1.4 million barrels per day (bpd) in 2025 and 900,000 bpd in 2026, BofA said.
In the metal group, the price of the December 2024 silver contract continued to be sold off heavily, falling to 30,613 USD/troy ounce. The price of platinum in January 2025 also fell 1% to 969.5 USD/troy ounce. Similarly, the price of copper in December 2024 also fell 2% to 4,2285 USD/troy ounce.
