What a week for the U.S. stock markets! The Dow Jones, S&P 500, and NASDAQ gained at least 2.2%, while Treasury yields were down around 2%. Not to mention Gold, which has been absolutely booming lately; the recent rally has pushed Gold up and over $1,400 for the first time in almost 7 years.
Let us not forget about Oil as well, up almost 9% this week alone, as disasters in Iran escalated supply.
Even with the tremendous amount of gains made from the U.S. markets this month, (DOW on pace for the best June in almost 80 years) the recent craze has been focused on Cryptocurrency. Bitcoin surpassed the $10,000 mark this week, backed by momentum of Facebook’s ($FB) release of Libra, the company’s own cryptocurrency. We all know how volatile Bitcoin (as well as other cryptos) can be, but the recent upward trend action is nothing short of parabolic. Looking at futures now, Bitcoin is up another ~+4.5%, a common trend seen in recent weeks.
Be ready for another volatile (and exciting) week ahead, as investors are still bullish after the Feds hinted at rate cuts this summer.