Chip stocks leads Wall Street to new heights

Chip stocks leads Wall Street to new heights

The U.S. stock market closed higher on Friday, winning back almost all the losses it suffered earlier in the week driven by the continued growth in chip and large-cap stocks. Taiwan Semiconductor Manufacturing's optimistic outlook for capital spending and revenue fuels hopes for a broader tech recovery in 2024.

Weekly review: Gold, USD, EURUSD and Dow Jones

Weekly review: Gold, USD, EURUSD and Dow Jones

The US stock market ended last week on a bullish note boosted by a rally in chip stocks and mega-caps. Attention this week will be on planned central bank meetings. The most important thing to focus on this week is undoubtedly the announcement of Friday’s US PCE inflation data.

Weekly review: Gold, USD, EURUSD and Dow Jones

Weekly review: Gold, USD, EURUSD and Dow Jones

The week has started off fairly quietly in terms of price action as the equity and bond markets closed Monday in the United States for the Martin Luther King Jr. Day holiday. Moving ahead, the key events to focus the US retail sales report and the series of inflation data from the UK, Eurozone, Germany and Canada.