U.S. Stock Market Prediction: U.S. Stock Market prediction for Monday: Nasdaq, S&P 500, Dow Jones crash to continue in Wall Street? These factors will determine
Oil Prices, US Dollar
In currency trading, the dollar was firm and held above 160 yen, pushing the Australian dollar to $0.7038. Euro remained at $1.1518.
The situation in the Middle East also remains sensitive, with Brent crude oil futures rising nearly 2.6 percent to $95.45 per barrel on Monday morning (Asian time) after an Israeli attack on Beirut prompted Iran to direct a missile salvo at Israeli targets. OPEC+ agreed on Sunday to raise oil production targets for the fourth time in as many months.
Technology StockS.
U.S. technology stocks gained on Friday after a hot May jobs report raised fears of a hawkish policy move by the Federal Reserve. Wall Street’s main indexes all posted significant losses; The Nasdaq fell more than four percent, the S&P 500 fell more than two percent and the Dow fell more than one percent.
The Nasdaq fell 4.2% on Friday, as selling intensified in semiconductor stocks after the hot jobs report raised expectations for a Federal Reserve rate hike and put the brakes on a brilliant AI-led rally.
Technology firms, which have pushed stock markets to record levels this year, are facing selling pressure over concerns that the eye-popping sums pumped into artificial intelligence may have been exaggerated.
Nvidia Shares, Broadcom Shares
The so-called “Magnificent Seven”, which includes AI players Nvidia, Google parent Alphabet and Meta, closed lower. Meta’s shares also remained under pressure on reports that the company was considering a stock offering to raise tens of billions of dollars in funding for its artificial intelligence push.
US chipmaker Broadcom also raised concerns this week when its third-quarter revenue forecast fell short of expectations. Shares of Broadcom fell nearly eight percent on Friday, while shares of rival Micron Technology fell more than 13 percent.
Bitcoin Price, US Treasury Yield
Two-year Treasury yields rose more than 11 basis points on Friday, and benchmark 10-year Treasury futures were about five basis points lower in Asia early Monday morning.
Last week, Bitcoin fell nearly 16%, its heaviest weekly decline since the collapse of crypto exchange FTX in late 2022. It was trading just under $63,000 on Monday.
