Brief Market Recap - 25 May 2024

Nasdaq 100 Performance, Last Week

Here are the market events from this week you need to know:

Global Economic Update 

- Most indexes finished the week up, touching all-time highs (up five weeks in a row).

- This is mainly after indicators of strong business activity, most notably the May PMI survey.

- Nvidia shares soared after demand for AI-chips seems to be never-ending, and the dividend was raised 150%. Nvidia is in our SKYY ETF.

- Globally, markets were mixed as they took into account worries over interest rates.

News Regarding Omega Trades Stock Picks

Tech  - The tech industry affects our stock pick securities such as SKYY (Cloud Computing ETF), and IBM. The tech sector performed great this week after signs of a resilient economy. This is yet again a reinforcement of our long-held thesis of a soft landing.

International economies - Our long-term investment picks include both American and Polish economy tracking ETFs. ETFs tied to the U.S. markets were up this week due to the situation discussed above, and Polish markets finished down after the finance-heavy ETF "EPOL" factored in interest rate worries.

Other - Our other investment picks include BP (British Petroleum). BP stock finished down after it halted plans of a gas project in Manakin-Cocuina.

You can get a free premium report for BP on our site. 

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