This Week Highlight - Dow Conquers 30,000 Finally!

 On 24 November in U.S. hours, the Dow Jones benchmark rose and closed above 30,000 for the first time in history. Market went "hysterical" over this in celebration. Many analysts didn't believe it and some financial firms have called for 40,000 as the next target!

Literally, the positive news of few pharmaceutical firms that called for positive trials over past 2 weeks on the vaccines have added optimism into the U.S. market. These companies include Pfizer, BioNTech and Moderna Inc. However, what gives the push finally into the Dow market is the ultimate cheers for President-elect Biden.

On the same night before Dow closed above 30,000 level, President-elect Biden has announced his handpicked calibers in the new National Security team. Undeniably, Biden is a wise man in his seventies that has gone through the thick and thin of life that not many others could have survived like him!

Joe Biden was once named as the youngest senator in Congress but now the oldest President in U.S. history. He lost his wife and daughter in an accident more than 3 decades ago and brought up the 2 sons from their extreme injuries. More than a decade ago, Biden lost one of his sons to brain cancer and he also went through one such neuro-brain surgery several years ago.

While he may slur sometimes in his speech, Trump used to call him "sleepy Joe" but Biden never retaliate in words. On the night when this humble man read out the names of his new team, he said this words: Tell me what I need to know, and not what I want to know.

Perhaps, we feel the U.S. market will celebrate for a while till Biden takes over the White House in January and begins to plan his new stimulus in devaluing Dollar. Soon coming to this week or early December, we expect the Nasdaq 100 and S&P 500 indexes will take turn to make new historical highs.

Beware the flight of fund to the triple stock markets while global equity market will also dance in the cloud. Precious metals will see some drawdown amid losing shine. However, this is exactly what we have been expecting and waiting to find a new bottom entry in Gold and Silver.

When the time comes in Q1 2021, the dual precious metals will begin to soar while the stock indexes correct downward. Stay tune for the new historical high in Gold prices coming soon in 2021!

Have an empowering weekend.

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