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Market Wrap: Stocks, Bonds, Commodities |
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On Friday, U.S. stocks remained under pressure, with the S&P 500 closing 76 points lower (-1.01%) at 7,457 and the Nasdaq 100 down 433 points (-1.49%) to 28,592.
The Dow Jones declined 406 points (-0.77%) to 52,146.
Tech stocks weighed on the market after China's Moonshot AI released a new model it claims outperforms some American systems, stoking concerns over U.S. AI infrastructure spending.
Most mega-cap tech stocks fell, with Meta (META) losing 2.79%, Microsoft (MSFT) down 1.82%, Alphabet (GOOGL) down 2.17%, and Amazon (AMZN) down 1.06%.
Apple (AAPL) was the exception, edging up 0.14% to another record closing level. The move pushed Apple past Nvidia to become the world's most valuable company, at a market capitalization of 4.88 trillion dollars.
Semiconductors fell further: Nvidia (NVDA) dropped 2.21%, TSMC (TSM) fell 2.77%, Intel (INTC) fell 2.00%, and AMD dropped 1.03%.
Netflix (NFLX) declined 7.26% after quarterly results and guidance missed expectations.
The U.S. 10-year Treasury yield was little changed, easing less than one basis point to 4.549%.
In Europe, the DAX 40 fell 0.34% and the CAC 40 declined 0.47%, while the FTSE 100 climbed 0.27%.
On Sunday, the U.S. said it had completed an eighth straight night of attacks against Iran, after earlier reporting that at least two U.S. military personnel were killed in Jordan. President Donald Trump said the "gates of hell" have been unleashed following the killing of U.S. Troops by Iran.
In early Asian trading hours on Monday, U.S. WTI crude futures jumped 2.83 dollars (+3.58%) to 81.78 dollars a barrel.
Gold slipped 18 dollars to 3,999 dollars an ounce.
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In early Asian trading hours on Monday, the U.S. dollar remained firm against major currencies.
U.S. industrial production edged up 0.1% month-on-month in June (vs +0.2% expected). The University of Michigan consumer sentiment index rose to 54.4 in June (vs 50.4 expected, 49.5 in May).
EUR/USD was still subdued at 1.1426, and GBP/USD at 1.3442.
USD/JPY remained elevated at 162.53, not far away from its 40-year high at 162.84 marked on July 1.
AUD/USD traded lower at 0.6974, extending its decline to a third session.
USD/CAD edged lower to 1.4009.
Bitcoin showed resilience, trading around 64,700 dollars.
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In Asian trading hours, EUR/USD climbed to 1.1438 and GBP/USD advanced to 1.3459.
Meanwhile, USD/JPY eased to 162.34.
Gold rebounded to 4,011 dollars.
Bitcoin was steady at 64,751 dollars.
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Germany's producer price index is expected to be up 1.8% year-on-year in June.
In the U.S., the leading index is anticipated to grow 0.2% month-on-month in June.
Canada's inflation rate is estimated to ease to 3.0% year-on-year in June.
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