NAGA Group AG
NAGA Group AG
11/22/2024 | Press release | Distributed by Public on 11/22/2024 07:55
NAGA Weekly Recap November 18 2024 – November 22 2024
Here's your weekly market roundup for November 18-22!
Catch the key highlights: Nvidia posted record-breaking revenue, propelling its stock to new heights; gold rallied toward $2,700 as geopolitical tensions escalated; and USD/JPY neared 154.00 on expectations of a BOJ rate hike. Meanwhile, U.S. stocks rebounded with the Dow leading the way after a volatile week.
Stay tuned for a deep dive into the market's biggest moves!
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Top Leader Nicehome34 |
Highest Growth Luminar Technologies Inc. |
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This week, Nicehome34 executed a remarkable 137 trades, securing a total profit of $50,223. His focus remained firmly on indices, with $NAS100 leading the pack at 70 trades, followed by $US30 and $GERMAN30. Leveraging precise timing, he capitalized on small but consistent gains while navigating occasional losses with a calculated approach. Notably, Nicehome34's strategy showcased effective scaling on $NAS100, balancing high-frequency trades with solid risk management. This disciplined focus continues to underline his status as a methodical and effective indices trader. |
Luminar Technologies Inc. ($LAZR), a lidar leader in autonomous vehicles, recently executed a 1-for-15 reverse stock split, boosting its stock price to a 52-week high of $11.39. While the split inflated nominal value, actual financials remain mixed, with Q3 revenue of $15.49 million missing expectations but losses aligning with forecasts. New partnerships with Volvo and a Japanese OEM and excitement over the 2026 launch of the Halo LiDAR system highlight potential for long-term growth. |
*It is important to remember to assess your financial situation and risk tolerance, before engaging in copy trading. Past performance and forecast are not reliable indicators of future results.
Dow, S&P 500 Surge as Nasdaq Stabilizes
US stocks seesawed as investors weighed Nvidia's earnings alongside a sharp drop in Alphabet's shares following the Department of Justice's push to dismantle parts of its business.
The Dow Jones Industrial Average ($US30) climbed over 450 points, rising about 1.1%, while the S&P 500 ($SPX500) added 0.5%. The Nasdaq Composite ($NAS100) managed to reverse earlier losses, closing slightly in positive territory.
*Trading involves significant risk of loss.
Nvidia Reports Record Revenue on Strong GPU Demand
Nvidia ($NVDA) posted a record $35.1 billion in revenue for the third quarter of 2024, driven by surging demand for its current GPUs and overwhelming interest in its next-generation Blackwell hardware.
Quarterly revenue jumped 17% compared to the previous period and an impressive 94% year-over-year. The company also reported its highest-ever data center revenue, which climbed 17% sequentially and 112% from a year ago, reaching $30.8 billion.
Shares edged up slightly, gaining less than 1%.
*Trading involves significant risk of loss.
Gold Rises Toward $2,700 Amid Geopolitical Strains
Gold prices extended gains for the fifth straight session on Friday, reaching nearly two-week highs around $2,690 during Asian trading. Heightened Russia-Ukraine tensions drove investors toward safe-haven assets, providing strong support for the precious metal's ongoing rally.
*Trading involves significant risk of loss.
USD/JPY Nears 154 as BOJ Rate Hike Looms
The Bank of Japan is expected to raise interest rates at its December meeting, driven by a robust economy and concerns over the weakening yen, according to a Reuters poll of economists.
Most analysts predict further hikes as policymakers respond to inflationary risks following Donald Trump's November 5 election win. Despite the US dollar strengthening, $USDJPY slid to near 154.00 in anticipation of the BOJ's actions.
*Trading involves significant risk of loss.
This concludes our weekly recap. Have a great weekend and see you next week!
Trading leveraged products involves a significant risk of loss and is not suitable for all investors.