|
| |
Market Wrap: Stocks, Bonds, Commodities |
|
|
| |
|
|
|
| |
On Tuesday, major U.S. stock indexes retreated after hotter-than-expected October inflation data lifted bets on a December interest-rate hike, with the Nasdaq 100 falling 166 points (−0.60%) to 27,740, the S&P 500 down 29 points (−0.38%) to 7,520, and the Dow Jones down 157 points (−0.30%) to 52,231.
The U.S. consumer price inflation rate slowed to 0.4% month on month in October, still higher than expected. The core inflation rate was stable at 0.3% month on month, also higher than expected. A year-over-year rate was not published because of last year's government shutdown.
The U.S. 10-year Treasury yield jumped back 11.6 basis points to the key level of 5%.
According to the CME’s FedWatch tool, traders fully priced in a Federal Reserve rate hike of at least 25 basis points in December, up from 84% on Monday.
Nvidia (NVDA) fell another 5.47% after losing 4% Monday, as the board started investigating reports that founder and CEO Jensen Huang had a relationship with an alleged Chinese spy. Meanwhile, the Rosen Law Firm has filed a proposed class-action lawsuit against Nvidia and Huang in federal court in San Jose.
Microsoft (MSFT) declined 2.20% after Anthropic rolled out workplace tools that rival the software giant’s Office tools.
Semiconductor stocks were split. Broadcom (AVGO) rose 3.91%, Taiwan Semiconductor Manufacturing (TSM) was up 2.02%, and Advanced Micro Devices (AMD) gained 1.30%, while Arm Holdings (ARM) fell 2.58%, Intel (INTC) declined 2.09%, and Micron Technology (MU) was down 1.10%.
Homebuilders were hit as yields jumped, with Lennar (LEN) falling 5.37%.
GE Vernova (GEV) dropped 3.89% after SoftBank Group booked a charge of 3.73 billion dollars tied to AI power equipment.
CoreWeave (CRWV) closed 0.51% lower and rose about 2% in after-hours trading. The company reported higher-than-expected third-quarter revenue of 3.66 billion dollars and raised its full-year revenue outlook to up to 13.3 billion dollars.
In Europe, the DAX 40 added 0.31%, and the CAC 40 was up 0.55%, while the FTSE 100 declined 0.29%.
U.S. WTI crude futures remained subdued, dipping 81 cents to 86.04 dollars a barrel.
Spot gold retreated 108 dollars (-2.61%) to 4,032 dollars an ounce.
|
| |
|
|
|
|
|
|
|
|
| |
The U.S. dollar strengthened after the release of hot inflation data, with EUR/USD falling 58 pips to 1.1165 and USD/JPY rising 80 pips to 158.70.
In fact, Federal Reserve Governor Christopher Waller said he would consider a rate-hike of 50 basis points if core inflation came in higher than expected.
GBP/USD declined 98 pips to 1.3342, and AUD/USD fell 60 pips to 0.6866.
USD/CHF gained 50 pips to 0.8250, and USD/CAD added 68 pips to 1.4185.
Bitcoin lost traction again, slipping over 2% to $73,700.
|
| |
|
|
|
|
|
|
|
|
| |
In Asian trading hours, the U.S. dollar stayed firm, with EUR/USD lacking momentum and trading at 1.1167 and GBP/USD around 1.3552.
USD/JPY advanced to 158.88, while AUD/USD stabilized at 0.6880.
Spot gold edged up 15 dollars to 4,047 dollars an ounce, and Bitcoin was flat at 73,700 dollars.
|
| |
|
|
|
|
|
|
|
|
| |
The U.S. bond market is closed today for the Veterans Day holiday.
OPEC will release its monthly oil market report.
|
| |
|
|
|
|
|