A record-breaking year against all odds! | MarketTalk: What’s up today? | Swissquote

Show notes

Here we are, on the last trading day of the year. We had a year completely different than what was expected.
The biggest takeaway of this year is the birth of ChatGPT which propelled AI right into the middle of our lives. Nasdaq 100 stocks close the year at an ATH, Nvidia – which was the biggest winner of this year’s AI rally dwarfed everything that compared to it. Besides Nvidia, ChatGPT’s sugar daddy Microsoft, Apple, Amazon, Meta, Google and Tesla – the so-called Magnificent 7 generated almost all of the S&P500 and Nasdaq100’s returns this year. And thanks to this few handfuls of stocks, Nasdaq100 is set for its best year since 1999 following a $7 trillion surge.
The million-dollar question is what will happen next year!
In the FX, the US dollar index rebounded yesterday as treasury yields rose following a weak sale of 7-year notes. But the US dollar is still set for its worse year since 2020. Gold prepares to close the year near ATH, the EURUSD will likely reach the finish line above 1.10 and the USDJPY having tested but haven’t been able to clear the 140 support. In the energy, crude oil remains downbeat. The barrel of American crude couldn’t extend rally after breaking the $75pb earlier this week, and that failure to add on to the gains is now bringing the oil bears back to the market.
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