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Market Wrap: Stocks, Bonds, Commodities |
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On Tuesday, semiconductor stocks reversed to the downside again, dragging the Nasdaq 100 down 329 points (-1.12%) to close at 29,084.50.
The S&P 500 dropped 19 points (-0.26%) to 7,386, while the Dow Jones added 86 points (+0.17%) to 50,872.
Among semiconductor stocks, Marvell Technology (MRVL) slid 7.61%, Arm Holdings (ARM) fell 6.22%, Advanced Micro Devices (AMD) dropped 3.02%, and Intel (INTC) was down 2.13%.
Also, Micron Technology (MU) declined 1.41%, Broadcom (AVGO) eased 1.12%, and Nvidia (NVDA) dipped 0.22%.
Apple (AAPL) fell 3.64%. Investors appeared unimpressed by a series of new artificial-intelligence-related software enhancements unveiled at the company’s Worldwide Developers Conference (WWDC).
Meanwhile, Tesla (TSLA) dropped 3.00%, Microsoft (MSFT) declined 2.02%, while Alphabet (GOOGL) edged up 0.26%.
Oracle (ORCL) slipped 2.84% ahead of its quarterly results, due after market close on Wednesday.
J.M. Smucker (SJM) surged 10.44%, becoming the best-performing stock in the S&P 500. The food and beverage producer raised its full-year profit outlook.
The U.S. 10-year Treasury yield retreated 5 basis points to 4.518%.
In Europe, the DAX 40 fell another 0.74%, and the FTSE 100 dropped 1.41%, while the CAC 40 edged up 0.05%.
U.S. WTI crude futures settled 3.10 dollars lower (-3.40%) at 88.20 dollars a barrel. However, in early Asian trading hours, the U.S. said it had launched strikes against Iran in response to the downing of an Army Apache helicopter in the Strait of Hormuz.
Gold slipped 69 dollars (-1.61%) to 4,260 dollars an ounce.
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The U.S. dollar index dipped below the key level of 100. Major U.S. inflation data will be released later today.
EUR/USD added 10 pips to 1.1544. Germany's industrial production grew 0.4% month-on-month in April (vs +0.5% expected).
USD/JPY advanced 19 pips to 160.36, holding above the closely watched level of 160 despite repeated verbal warnings from Japan’s finance minister over possible market intervention to support the yen.
GBP/USD climbed 41 pips to 1.3379, while AUD/USD fell 17 pips to 0.7028.
USD/CHF added 7 pips to 0.7982.
USD/CAD dipped 5 pips to 1.3946. Canada’s central bank is expected to hold its key interest rate unchanged later today.
Bitcoin lost traction, sliding 2% to 61,700 dollars.
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In Asian trading hours, USD/JPY was steady at 160.36. Japan's producer price index rose 6.3% year-on-year in May, above 5.5% expected.
On the other hand, China's inflation rate stayed at 1.2% year-on-year in May, below 1.4% estimated, while producer price index was up 3.9%, above 3.8% expected.
Meanwhile, EUR/USD and GBP/USD were broadly flat, at 1.1540 and 1.3375 respectively.
Gold extended its decline to 4,184 dollars.
Bitcoin remained subdued at 61,428 dollars.
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In the U.S., inflation rate is estimated to climb to 4.0% year-on-year in May.
The Bank of Canada is expected to keep its benchmark rate unchanged at 2.25%.
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