Market Performance - Gold prices reached record highs above $4,300, marking a nearly 7% increase for the week, the best performance in 17 years, with a year-to-date rise of nearly 60% from approximately $2,670 in January [2][3] - The cryptocurrency market saw a significant decline, erasing over $600 billion in value since last Friday's flash crash, with Bitcoin dropping to around $106,000 from an all-time high of over $126,000 [3][4] Company Developments - Oracle's stock fell nearly 7% despite analysts raising price targets to $400 following a positive AI event, indicating concerns about the company's ability to scale data centers amid supply constraints [7][8] - Upcoming earnings reports from major companies such as Tesla, Netflix, and Intel are anticipated to influence market movements, with Tesla reporting record deliveries for Q3 [9][10] Economic Indicators - A delayed Consumer Price Index (CPI) report is expected to be released, with projections around 3.1%, which will be significant ahead of the next Federal Reserve meeting [12][14] - Ongoing developments in US-China relations are critical, with China's quarterly GDP numbers and a key policy-setting meeting expected to provide insights into future economic strategies [15]
Friday's Final Takeaways: Gold & BTC Drag, ORCL Slides Despite Bullish Optimism