
Markets rallied on Tuesday as risk-on sentiment picks up again. Dow Jones surged nearly 1% surpassing 49,500 for the first time. The S&P 500 gained 0.65% to 6,948, a new record high. And Nasdaq 100 also rose 1% to 25,649. In early trading today, the indices futures trade near historic levels.
Asian defense stocks gave up earlier gains and snapped a two-day winning streak as markets traded mixed while investors continued to reassess geopolitical risks following the U.S. attack on Venezuela and heightened tension about potential action in Greenland.
In the forex market, The US Dollar Index rose to 98.59 yesterday. EUR/USD remains below 1.1750, with a bearish outlook for the short term.
Commodities are mixed with Brent and WTI down nearly 4% since yesterday. Brent is currently trading at $59.77 and WTI struggling to maintain $56.00. Gold is gradually rising as it approaches the psychological level of $4,500. Silver needs a break above $81 again to extend gains to $84–$86, otherwise it risks slipping to $78–$76.
In the crypto market, bitcoin fell about 1.1% to around $92,500 after a strong recovery earlier in the week, as heightened geopolitical tension and caution ahead of key U.S. economic data weighed on risk assets. Despite relief that MSCI will not immediately exclude digital-asset treasury companies from its indexes, crypto prices remained mostly range bound.
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