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S&P 500 INDEX CONTINUES TO RISE - UP 9% SINCE THE BEGINNING OF THE YEAR!

S&P 500, the key stock index comprising shares of the 500 largest publicly traded companies in the US, showed a growth of 23% in 2023, and has already added 9% since the beginning of this year.

FreshForex analysts have highlighted the following growth factors:

• Stable economic growth in the US and significant corporate earnings.
• Shares of the "Fabulous Seven" (companies strongly influencing the index such as #Apple, #Amazon, #Google, #Meta(Facebook), #Microsoft, #Nvidia, and #Tesla) are rising due to the implementation of artificial intelligence. The "Fabulous Seven" are still available for trading on our platform and represent an interesting idea for long-term investments. The Fed has again confirmed its readiness for three interest rate cuts, supporting growth in the American stock markets. Investors are eagerly awaiting new signals about the dynamics of interest rates in the US.
• Last month, analysts at HSBC and BofA Global Research forecasted that by the end of 2024, the index would reach 5400, while Oppenheimer estimated it at 5500.
• And yesterday, Wells Fargo, one of the largest financial companies in the US, forecasted that the #SP500 index will rise to 5535 points by the end of this year. This is the highest forecast among all brokerage firms on Wall Street.

Thus, investors around the world seem to be ignoring the possibility that stock valuations have risen too high against the backdrop of the overall market rally, providing even more opportunities for growth. At the same time, professionals will be monitoring whether Wall Street giants can justify the huge rise in stock prices seen over the past three months.

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BRIGHT SHINE OF GOLD ABOVE NEW PEAKS

On April 12, gold once again set a record, surpassing the $2400 per ounce mark. Since the beginning of the year, XAUUSD has already risen by +15%, which currently outpaces the US stock market nearly threefold (Nasdaq 100 and S&P 500 are currently showing growth of around 6%).

Against the backdrop of this historical surge, experts predict further price hikes for the precious metal, confidently stating the possibility of reaching $3000 per ounce.

FreshForex analysts have repeatedly forecasted such growth since November 2023. We believe that gold continues to be a profitable investment, supported by several factors:

• Geopolitical risk and economic uncertainty. Last year, gold prices increased by more than 19%, and according to analysts, there is still room for growth in this rally. Conflicts in the Middle East and other hotspots around the world increase the premium for geopolitical risk, maintaining interest in gold.
• Forecasts from major financial institutions' analysts. Bank of America and Citigroup are optimistic about gold's future, predicting its rise to $3000 per ounce in the coming years. Goldman Sachs has raised its gold price forecast to $2700 per ounce, and UBS expects it to reach $2500 by the end of 2024. Analysts believe that increased investor inflows, expectations of US Federal Reserve interest rate cuts, and active purchases by major central banks and consumers in China will support this growth.
• Investors view gold as a hedge against inflation and economic uncertainty.Demand for the precious metal strengthens during periods of declining confidence in risky assets such as currency, stocks, and bonds, and it is forecasted that this trend will continue, pushing gold prices to new heights.

Thus, confidence in gold remains unshaken, giving the green light for new investment flows and trading ideas. Our traders have assessed market sentiment and actively use the XAUUSD trading pair in their strategies.

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Secrets of success on the American stock market

Snapchat (#Snapchat) shares surged by 27% to $14.5 per share, following the post-market trading on the New York Stock Exchange on Friday, April 26. And they continue to climb this week.

Several factors contributed to this rapid growth:

• Demand for Snap shares increased after the release of financial results. Snap noted that its business is growing faster than expected, thanks to the update of its advertising system and higher demand for features that help brands increase sales or clicks on websites.
• In the first quarter, the number of daily active users (DAUs) grew by 10% to 422 million. According to StreetAccount, analysts expected 420 million users. Snap also expects to generate revenue of $1.23 billion in the second quarter, higher than analysts' expectations ($1.22 billion).
• The company's revenue per user increased on a yearly basis for the first time since the beginning of 2022, reflecting the recovery of the advertising market and Snap's efforts to revive growth, said Morningstar analyst Michael Hodel.

Simultaneously with Snapchat's success, Tesla (#Tesla) shares began to soar sharply on news that Elon Musk, during his visit to China, reached an agreement with the Chinese technology giant Baidu (#Baidu). The companies will collaborate in the field of mapping and navigation, allowing Tesla to use its Full-Self Driving (FSD) software in China for fully autonomous driving. As a result, the electric car manufacturer's shares rose by 7.98% to $181.72 in pre-market trading on April 29.

Google (#Google) also made headlines by announcing its market capitalization. The market cap of Alphabet, Google's parent company, exceeded $2 trillion for the first time, reaching $2.15 trillion. According to TradingView, Alphabet now ranks fourth in the world by market capitalization. It is surpassed only by Microsoft (#Microsoft) with a market cap of $3.02 trillion, Apple (#Apple) with a market value of $2.61 trillion, and NVIDIA (#NVIDIA), whose market capitalization is $2.19 trillion.

And we remind you that the shares of these companies and many others are available for trading in our trading terminal. Still hesitating where to invest? FreshForex analysts have repeatedly pointed out the prospects for gold and bitcoin, and the forecasts have come true. And now is the time to invest in the fund. Earn with us!

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