September 4, 2024
Market overview by Andrey Syrchin
Hello, friends!
Despite being on a brief sick leave, many close friends have been asking about market forecasts, so here’s a quick overview:
- U.S. markets are just 4% below their historical peaks — an incredible performance, showing strong resilience with recent 9% dips almost fully rebounded within a week.
- NVDA, a major market driver last year, saw a 20% drop after its latest earnings report. However, considering its rise from $49 in January to $108 now, it’s still up 120% in just 8 months.
- The crypto market appears weak, heavily pressured by government officials and bankers trying to gain control. The volatility in this new industry is akin to rock and roll—expect it to continue.
- The Fed has indicated it’s time for monetary policy changes, suggesting more volatility ahead for both stock and debt markets.
In summary, I don’t see significant market turmoil yet. A 15-20% correction in the U.S. could positively influence further development.
Conclusion: Things are generally calm, but concerns about recession, geopolitics, and monetary policy remain. Remember, markets don’t grow forever; crises occur swiftly while recovery takes longer and should be savored.
Stay tuned for more updates.
