STARTRADER Market Recap | 04-May-2023
Gold prices surged today to a new all-time high following a 25-basis point interest rate increase by Fed, with an indication that further rate hikes may be avoided. According to Federal Reserve Chair Jerome Powell, the central bank remains committed to combatting inflation and reducing it to the targeted 2% level.
As a result, both the stock market and oil prices saw significant drops today, with the Dow Jones index falling to $33,250 and oil prices dipping below $64 in this morning’s trading.
This material provides real-time market analysis from contributing analysts. Please note that any views expressed in this material do not constitute operational advice. It is important to assess your risk tolerance and make independent trading decisions. STARTRADER holds no responsibility for any trading consequences that may arise from relying on the views expressed in this material.
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