#MarketNews

Happy Friday, dear traders! This week was intense, and we hope you enjoyed it! Let's take a look at our end-of-week news!

• Congress approved a temporary budget to avert a partial US government shutdown, passing a bill that President Joe Biden signed into law.

• The IPO market is experiencing its longest cold streak since 1980. In 2021, America's five largest investment banks earned an average of $13 billion per quarter through their deal-making and initial public offering divisions. Over the next two years, they managed barely half that amount.

• Shares in Asian markets and the US100 rose thanks to an upbeat outlook for Taiwan Semiconductor Manufacturing Co. that raised hopes for a global recovery in the semiconductor sector.

• Meta is investing billions of dollars to buy Nvidia's advanced H100 graphics chips for artificial intelligence research, planning to incorporate 350,000 such cards into its computing infrastructure by the end of 2024.

• Bond giant Pimco says Turkey is on track for an investment grade rating. The fund manager is betting on economic reforms by buying lira-denominated bonds.

• Japanese shipping companies have abandoned the route through the Red Sea, opting for an alternative route via the Cape of Good Hope, tripling the cost of shipping a single 40-foot container from $2 to $6,600.

• Bitcoin ETF beats silver to become the second-largest commodity ETF in the US.

• The International Energy Agency (IEA) predicts higher prices for petroleum products in Europe due to the escalating conflict in Yemen.

How was your trading week? Share your opinion in the comments!