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Market Clubhouse Morning Memo - May 10th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA) - Invesco QQQ Trust, Series 1 (NASDAQ:QQQ)

Market Clubhouse Morning Memo - May 10th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA) - Invesco QQQ Trust, Series 1 (NASDAQ:QQQ)
benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.

Market Clubhouse Morning Memo - April 12th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, And TSLA) - Invesco QQQ Trust, Series 1 (NASDAQ:QQQ)

gold prices: No justifications for gold s recent rally, investors riding on Fed rate cut hope

Gold closed at a record high of $2330 amidst escalating Middle East tensions, positive US economic data, and hints of potential rate cuts by the Fed Chair. Geopolitical tensions and economic indicators will continue to drive market sentiment. . Hotter than expected CPI inflation and contained geopolitical tensions will weigh on the metal. Resistance is at $2360/$2400 and support at $2300/$2250/$2200. A short term correction won t be surprising.

Gold ends negative WoW despite hitting a record high

As traders cut back on their hefty rate-cut wagers, US treasuries may fall further in the near-term, which means gold may be vulnerable in the near term as the metal has been rallying mainly on rate-cut notions. Gold is expected to fall further unless it gets support from the Fed s monetary policy decision to be announced on December 13.

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