Stock Market Today
U.S. stocks on Thursday opened higher S&P 500 2684.82 (+0.08%) and NASDAQ Index 6949.50 (+0.14), Dow Jones Industrial Average 24816.11 (+0.17%). Wall Street Indexes are trading higher today as investors turn their attention to what the next year will bring for the market. In economic news Thursday, weekly jobless claims came in at 245,000 versus the 240,000 estimate. Traders also worry about the drop in expectations in consumer confidence.
Investors are also paying attention to the latest in bitcoin. Today Bitcoin price falls to 14335.01 US Dollar and continues to see volatile price moves. Some traders consider the cryptocurrency could trade in a range of $6,500 to $22,000 in 2018. Nick Colas who has been covering the Bitcoin for at least four years, said that the cryptocurrency is ready for a potentially wild ride in 2018 and it will end with a big drop.
Economic data for today: Weekly Jobless claims, Advance trade in goods, Chicago PMI.
U.S. Dollar vs Precious metals
The US Dollar Index is trading near a one-month low against a basket of currencies on Thursday after the latest jobless claims data. In general, the index has dropped 9.2 percent this year. Gold price rose today to its highest level as the dollar fell to four-week low. Among other precious metals: silver price slightly rose, the platinum price is also up, palladium price is trading lower.