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Market Wrap: Stocks, Bonds, Commodities |
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On Friday, major U.S. stock indexes closed marginally lower before a long weekend:
Dow Jones -83 points (-0.17%) to 49,359
S&P 500 -4 points (-0.06%) to 6,940
Nasdaq 100 -17 points (-0.07%) to 25,529
Micron (MU) (+7.76%) marking a record close above 362 dollars. Mark Liu, a former co-CEO of Taiwan Semiconductor Manufacturing (TSM) who now sits on Micron’s board, disclosed the purchase of Micron shares worth about 7.8 million dollars.
Other major chip stocks closed mixed.
Broadcom (AVGO) (+2.53%)
Advanced Micro Devices (AMD) (+1.72%)
Intel (INTC) (-2.81%)
Nvidia (NVDA) (-0.44%)
Power stocks declined on reports that the White House and a group of state governors will sign an agreement aimed at curbing rising electricity costs.
Constellation Energy (CEG) (-9.82%)
Vistra (VST) (-7.54%)
Talen Energy (TLN) (-11.31%)
Kraft Heinz (KHC) (-2.89%) after being downgraded to "underweight" by Morgan Stanley.
The U.S. 10-year Treasury yield +5.6 basis point to 4.227%, a four-month high.
On Monday (January 19), U.S. markets will be closed for the Martin Luther King Jr. Day holiday.
European stock markets closed lower:
DAX 40 -0.22%
CAC 40 -0.65%
FTSE 100 -0.04%
On Saturday, U.S. President Donald Trump announced that his country will charge escalating tariffs against eight European countries - Denmark, Norway, Sweden, France, Germany, the U.K., the Netherlands and Finland - until the U.S. purchase of Greenland is completed.
U.S. WTI crude futures added 26 cents to 59.34 dollars a barrel after sliding 5% in the prior session.
On Monday morning, gold price bounced to an all-time high of 4,691 dollars an ounce.
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The U.S. dollar index was stable at 99.36. At a White House event, U.S. President Donald Trump told economic adviser Kevin Hassett, a leading candidate for the role of the Federal Reserve Chairman, he may want to keep him in his current role.
EUR/USD -5 pips to 1.1601.
USD/JPY -57 pips to 158.07. The Bank of Japan is widely expected to hold its key interest rate unchanged at 0.75% on Friday (January 23).
GBP/USD -3 pips to 1.3375, AUD/USD -17 pips to 0.6681.
USD/CHF -3 pips to 0.8027.
USD/CAD +26 pips to 1.3917. In Canada, the number of housing starts jumped to 282,400 in December, much higher than expected.
Bitcoin lacked momentum, dipping below 95,000 dollars.
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In Asian trading hours, USD/JPY remained under pressure at 157.92. Japan's machinery orders dropped 11.0% month-on-month in November, compared with -4.0% estimated.
On the other hand, China's gross domestic product grew 4.5% year-on-year in the fourth quarter, compared with 4.6% expected.
Meanwhile, EUR/USD rebounded to 1.1618 and GBP/USD edged up to 1.3385.
Gold held gains at 4,659 dollars.
Bitcoin dropped to 92,516 dollars.
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The U.S. stock market is closed for Martin Luther King Jr. Day.
Canada's inflation rate is expected to ease to 2.1% year-on-year in December.
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