We highlight the factors driving the surge in the precious metal
In the first quarter of 2024, many of the AI-led tech companies performed well, with some of the Magnificent Seven experiencing a fall from grace. With some uncertainty moving ahead, and a potential pullback from historic highs, Citi has downgraded the tech sector from Overweight to Market Weight, citing a broadening out of market gains, while upgrading the consumer discretionary sector to Overweight. Citi US Equity Strategist Scott Chronert joins Yahoo Finance to break down the calls for these sectors and take a look into how the market may perform moving forward. Chronert elaborates on his position: "The market's evolving, the market's evolving away from the tech and cyclical leadership that we've had since early November. We think we're starting to see signs that the market is gradually positioning in favor of those parts of the market that should at the margin benefit from an eventual Fed [Federal Reserve] pivot, consumer [discretionary] is front and center on that. " For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
Markets' Volatility Index (^VIX) is surging ahead by over 10% Tuesday morning, the second trading session in April. The month has historically been a period of "unwinding" momentum for stocks, according to BTIG Managing Director and Chief Market Technician Jonathan Krinsky. Krinsky joins Yahoo Finance Live to discuss whether the month — which is also the beginning of 2024's second quarter — could put a pause on year-to-date gains across markets and industries like the semiconductor landscape: "It's actually the worst month of the year on average for long-short momentum strategies. We're seeing areas like semis, which have had an amazing run starting to pull back. And then you're seeing areas like utilities which have lagged over the last few months start to actually perform well. There's different parts of the market doing different things. But, ultimately when you get that kind of momentum, that correlation break, that's when you see the rising Vix like we're seeing today." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
Crude oil prices (CL=F, BZ=F) are rising Tuesday, briefly peaking above $85 per barrel as OPEC+ production cuts and slowdowns attributed to geopolitical conflicts are pushing prices higher. Yahoo Finance Ines Ferré examines the price patterns for the commodity amid these events. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Luke Carberry Mogan.
Wall Street wrapped up the first quarter with a big bang, driven by strong corporate profits, enthusiasm around AI and hopes that the Fed will cut rates.
Comisión Nacional de Valores President Roberto Silva said virtual asset service providers that are not registered “will not be able to operate“ in Argentina.
The crypto seized was connected to James Zhong, who was convicted in 2022 of wire fraud related to the Silk Road marketplace.
Despite tightening regulatory measures, the exchange has been growing its South Korean presence for years.
The amendments will be implemented in several stages starting on April 4, and transitional arrangements will be provided for affected entities.
Stocks fall after hitting record, bond market proxy TLT fell as yields jumped while gold moves higher.