[15.06.24] - Weekly Market Update

How Did the Markets Perform Over the Past Week?

STOCKS

1. Smallcap Stocks Shine: The past week saw remarkable performance in the smallcap sector, with 191 smallcap stocks delivering double-digit returns. Notably, 13 of these stocks gained 25% or more, indicating strong investor confidence and robust market conditions in this segment. Source

2. Major US Indices: The S&P 500 and Nasdaq Composite reached new record highs, showcasing renewed enthusiasm in the market despite previous setbacks. Source

3. Microsoft Stock Target Raised to $550: Analysts are bullish on Microsoft's prospects, with the company's stock target being raised to $550 due to strong growth in AI initiatives. This reflects confidence in Microsoft's innovation and robust financial metrics. Source

CRYPTO

1. Bitcoin (BTC): Bitcoin’s market cap has reached $1.3 trillion with a year-over-year return of 160%. Bitcoin's price has seen significant growth, rising from $500 in May 2016 to around $67,097 as of June 11, 2024. Source

FOREX

1. US Dollar Index: The US dollar index was on track for its worst week of the year after Fed Chair Jerome Powell effectively delivered a dovish pivot, leading traders to reprice multiple rate cuts.