Weekly Market Report: Monday, July 22nd, 2024, to Friday, July 26th, 2024.

Good day, traders!

Welcome to this week's market report where we share with you some important data and highlight major market events that occurred during the trading week as they relate to the U.S. Dollar Index (DXY), Dow Jones (US30), and the Nasdaq (NAS100).

DXY

  • Overall Percentage Loss of the week: -0.04%
  • Total Pip loss of the week: overall, only about 4 pips were lost this week.
  • Fluctuations of price during the week: The price range for this week on DXY was between the high of 104.555 and the low of 104.080.

This week was filled with red-folder news that influenced the ranging movement of the US. Dollar Index.

Though the week was filled with a lot of red folder news, the DXY did not move in the typical unidirectional way as the DXY ranged between the high of 104.555 which was made on Wednesday and the low of 104.080 made on Thursday. Among the red folder news are the French Flash Manufacturing PMI, French Flash Services PMI, German Flash Manufacturing PMI, German Services Manufacturing PMI, BOC Monetary Policy Report, BOC Rate Statement, Unemployment Claims, Core PCE Price Index m/m among other news release.

Dow Jones (US30)

  • Overall Percentage Gain of the week: +0.91%
  • Total Points gained this week: a moderate 368 points were gained
  • Fluctuations of price during the week: Opening for the week on Monday at 40,23.56, the DOW initially began with a bullish move that was short-lived till Tuesday when the DOW began a bearish course that lasted for Tuesday and Wednesday and the the low of the week was made on Wednesday at 39,834.42. However, upon the release of news on Thursday and Friday, the DOW began propelling impulsively upwards until it made the high of the week at 40,792.76 on Friday and closed for the week at 40,661.66.

The price action of the DOW this week was bi-directional as it showed both bearish and bullish intent during the week.

Top three gainers this week: 3M Co (+22.991%), Salesforce Inc (+2.413%), and American Express Co (+2.377%).

Three Biggest losses this week: Merck & Co Inc (-0.469%), Walmart Inc (-0.343%), and International Business Machines Corp (-0.12%).

Nasdaq (NAS100)

  • Overall Percentage loss of the week: -2.83%
  • Total Points lost this week: a massive 553 pips were lost overall.
  • Fluctuations of price during the week: With an opening price of 19,564.20 on Monday, the Nasdaq began with a moderate bullish move on Monday. However, from Tuesday to Thursday bearish movement led to a massive 5% decrease from the opening price on Tuesday. However, Friday saw a bullish close that closed at 19,011.13

Overall, the NASDAQ experienced a bidirectional move this week which later closed bearish resulting in a -2.83% loss.

Top three Gainers this week: Charter Communications Inc (+16.62%), Baker Hughes Co (+5.818%), and Warner Bros Discovery Inc (+4.005%).

Three Biggest losses for the week: Dexcom Inc (-40.658%), Biogen Inc (-7.154%), and Datadog Inc (-1.662%).

In conclusion, the trading week of July 22nd to July 26th, 2024, was marked by mixed movements across major indices. 

The U.S. Dollar Index (DXY) experienced a slight decline of 0.04%, reflecting a volatile yet narrow trading range influenced by significant economic news. 

The Dow Jones (US30) demonstrated resilience with a 0.91% gain, driven by strong performances from companies like 3M Co and Salesforce Inc., despite mid-week fluctuations. Conversely, the Nasdaq (NAS100) faced a substantial loss of 2.83%, primarily due to significant declines in stocks such as Dexcom Inc and Biogen Inc.

Join the

Greatest

Traders

Sign up now for exclusive giveaways, discounts & promotions.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Goat Traders Community
Join Discord