Market Scan: Crude Oil Continues to Fall to New Lows, US Tech Stocks Poised for a Breakout

US stock futures generally rise, with Google and Tesla leading the gains

Before the opening of US stocks on November 24, the market showed a strong trend. As of 05:04 Eastern Time, Dow futures rose 0.09%, S&P 500 futures increased 0.33%, and Nasdaq 100 futures climbed 0.52%. Tech giants performed notably, NVIDIA (NVDA) up 0.49%, Tesla (TSLA) surged 1.83%, and Google (GOOG) pre-market was at $307.34, up 2.57%, once again hitting a record high.

Crude oil prices decline for the fourth consecutive day, geopolitical shifts bring opportunities

The energy market remains under pressure. At press time, WTI crude oil fell 0.29% to $57.80 per barrel; Brent crude oil declined by 1.41% to $61.64 per barrel. The continuous decline in oil prices is driven by the Trump administration urging Ukraine to agree on a plan to end the Russia-Ukraine conflict by the 27th. If substantial progress is made on the peace agreement and US sanctions on Russia are lifted, it will significantly increase oil supply, further exacerbating the energy landscape facing oversupply next year.

Bitcoin technical recovery, traders hedge risks as volatility increases

The crypto market has stabilized after a short-term correction. Bitcoin (BTC) briefly dipped to $80,537 last Friday, hitting a seven-month low. As of 24th, Bitcoin rebounded to around $87,000, with the latest price at approximately $87.31, down 0.89% in 24 hours. Options analysis platform Derive’s research director Sean Dawson remains cautious about the rebound, noting that traders are heavily building put options to hedge downside risks, indicating market participants lack confidence in the near-term outlook.

Gold and Fed expectations interact, with a 70% chance of rate cuts

Gold prices stabilized and rebounded, rising 0.07% to $4,068 per ounce at press time. Fed policy expectations are a key driver—New York Fed President Williams publicly stated last Friday that the Fed still has room to cut rates further in the near term. This reignited market expectations for rate cuts. Currently, the market prices in a 71.5% probability of a rate cut in December, supporting the safe-haven asset gold.

Economic data upcoming, focus on PCE and non-farm payrolls next week

On November 25, the US will release September PPI data. On the 26th, the third-quarter GDP revision, October personal income and expenditure reports, and the closely watched PCE inflation index will be published. Additionally, the Reserve Bank of New Zealand and the Bank of Korea will announce their interest rate decisions. On November 27, the US market will be closed for Thanksgiving, and trading volume may be limited.