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Meta, Amazon Soar To All Time Highs
Jobs data | New SPX inclusion | Charts of the week
Welcome Back,
Market Headlines 👀
US non-farm payrolls companies added 227k jobs for the past month and unemployment remains at 4.2%.
US weekly jobless claims edge higher coming in at 224k; est: 215k.
Alphabet (GOOGL) plans to expand its Waymo self driving services into Miami next.
Meta Platforms (META) Zuck says Meta AI has 600k active monthly users.
TikTok US appeals court upholds ruling to ban TikTok.
Apollo Management and Workday (APO, WDAY) both companies were added into the S&P 500 after hours today.
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Recap Around the Street 🧠
While the SPY has dominated as the leader among major indexes in recent months, this week’s rotation into the magnificent seven suggests its leadership may take a backseat, at least for now. That said, the weekly chart indicates there’s still significant upside potential, with the top of the weekly channel pointing to $620.(Contributed by Jason Krutzky of Trendspider )
This week, Bitcoin commanded the spotlight as it surged past the $100k milestone for the first time, reaching a record $104k before experiencing a sharp 10% correction. The 1.618 golden Fibonacci extension—a key target for bulls—has been firmly in focus for months, and its achievement has triggered significant profit-taking. With Ethereum now showing notable strength, the question arises: Is the time ripe for Bitcoin to hand off its leadership baton?(Contributed by Jason Krutzky of Trendspider )
For months, AAPL bulls have watched from the sidelines as semiconductors and AI took center stage in driving this bull market. This week, the wait ended decisively, with AAPL achieving a new all-time high. With a clear rotation back into big tech, Apple now has momentum behind it and the golden Fibonacci extension from its summer high to low firmly in its sights.(Contributed by Jason Krutzky of Trendspider )
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Market Preview 🎞️
CPI data releases next week!
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