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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, tech stocks led the U.S. market lower, with the Nasdaq 100 falling 476 points (-1.62%) to 29,025, the S&P 500 down 38 points (-0.51%) to 7,533, and the Dow Jones down 105 points (-0.20%) to 52,552.
Alphabet (GOOGL) lost 4.44%, Meta (META) dropped 2.46%, and Amazon (AMZN) was down 1.99%.
In contrast, Apple (AAPL) rose 1.76% to a record closing level of 333.26 dollars.
Taiwan Semiconductor Manufacturing (TSM) fell 2.20%, even as the chipmaker reported a 77% year-on-year jump in second-quarter profit. The company also announced plans to invest an additional 100 billion dollars in Arizona, bringing its total investment in the state to 265 billion dollars.
Other semiconductor stocks remained under heavy selling pressure, with Nvidia (NVDA) declining 2.39%, Intel (INTC) down 5.84%, and Micron (MU) down 5.65%.
Marvell Technology (MRVL) tumbled 8.71%, Advanced Micro Devices (AMD) slid 5.33%, and Broadcom (AVGO) was down 5.03%.
Data-storage stocks performed even worse, with Sandisk (SNDK) plunging 12.63%, Seagate Technology (STX) down 10.00%, and Western Digital (WDC) down 9.15%.
Space Exploration Technologies (SPCX) declined 3.08% to the lowest closing level since its IPO.
The U.S. 10-year Treasury yield was little changed at 4.557%.
In Europe, the DAX 40 fell 0.34%, and the CAC 40 dipped 0.05%, while the FTSE 100 closed 0.54% higher.
U.S. WTI crude futures retreated 65 cents to 78.95 dollars a barrel, ending a three-session rally.
Gold broke below the key 4,000-dollar level, falling 84 dollars (-2.08%) to 3,976 dollars an ounce.
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The U.S. dollar rebounded after two losing sessions, with EUR/USD easing 23 pips to 1.1440 and USD/JPY gaining 20 pips to 162.38.
U.S. retail sales grew 0.2% month-on-month in June, in line with expectations.
GBP/USD slipped 65 pips to 1.3474. U.K. data showed gross domestic product added 0.1% month-on-month in May, matching expectations. However, industrial production shrank 0.5% month-on-month in May (vs -0.1% expected).
USD/CHF advanced 38 pips to 0.8088, while AUD/USD dipped 13 pips to 0.6993.
Bitcoin failed to secure the 65,000-dollar level, retreating more than 1% to 63,900 dollars.
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In Asian trading hours, EUR/USD was little changed at 1.1437, while GBP/USD fell to 1.3463.
Meanwhile, USD/JPY was steady at 162.36.
Gold remained subdued at 3,979 dollars.
Bitcoin slipped to 63,432 dollars.
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In the U.S., housing starts are expected to be flat month-on-month in June, while building permits are estimated to drop 0.7%. Also, industrial production is expected to grow 0.2% month-on-month in June, while the Michigan consumer sentiment is estimated to climb to 50.4 in July.
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