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Market Wrap: Stocks, Bonds, Commodities |
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On Friday, the S&P 500 gained 46 points (+0.59%) to 7,811, and the Nasdaq 100 advanced 157 points (+0.51%) to 30,883, with both rebounding after two losing sessions.
The Dow Jones rose 423 points (+0.83%) to 51,654.
On a weekly basis, the Nasdaq 100 added 0.24%, posting a four-week winning streak.
Among mega-caps, Amazon (AMZN) rose 3.32%, Microsoft (MSFT) gained 2.39%, and Tesla (TSLA) advanced 2.06%.
Optical and AI infrastructure stocks outperformed the market, with Ciena (CIEN) bouncing 5.60%, Lumentum (LITE) up 5.22%, and Oracle (ORCL) up 4.21%.
Moderna (MRNA) jumped 14.21% after rejoining the Nasdaq 100. The stock was also boosted by reports that the U.S. National Institutes of Health (NIH) backed a nationwide initiative to accelerate personalized cancer vaccine development.
Humana (HUM) jumped 11.56% on expectations that the health insurer has a higher chance of receiving billions of dollars in government quality bonus payments.
SpaceX (SPCX) gained 1.25% after agreeing to buy nationwide 800 MHz wireless spectrum for about 8 billion dollars from Grain Management for its Starlink Mobile service. The deal pressured wireless carriers, with T-Mobile (TMUS) tumbling 13.27%, AT&T (T) down 10.82%, and Verizon Communications (VZ) down 10.14%.
The U.S. 10-year Treasury yield edged up less than one basis point to 5.242%.
European stocks also closed higher, with the DAX 40 rising 1.13%, the CAC 40 up 0.95%, and the FTSE 100 advancing 1.06%.
U.S. President Donald Trump said Russian President Vladimir Putin agreed to supply diesel to U.S. and global markets. Trump later called for Ukraine to replace President Volodymyr Zelenskyy, citing Ukraine’s attacks on Russian refineries.
On Sunday, Trump made a surprise announcement claiming an immediately effective energy ceasefire agreed upon by both Russia and Ukraine. However, Zelenskyy said he was still waiting to see details of the deal.
In early Asian trading hours on Monday, U.S. WTI crude futures declined 0.93 dollars further to 90.92 dollars a barrel.
Spot gold dipped to 4,190 dollars an ounce.
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In early Asian trading hours on Monday, the U.S. dollar was stable, with EUR/USD holding around 1.1200 and USD/JPY trading at 158.20.
On a weekly basis, the euro fell for a fifth consecutive week against the dollar. Meanwhile, risk premiums on French and Italian government debt showed signs of easing.
Regarding U.S. economic data, the University of Michigan Consumer Sentiment Index declined to 46.3 in October, coming in lower than expected.
GBP/USD was stable at 1.3238, while AUD/USD traded slightly higher at 0.6986.
USD/CAD remained buoyed at 1.4262. Canada's data showed that the number of full-time jobs dropped by 35,400 in September, contrasting with expectations for an addition of 38,000, while the jobless rate edged up to 6.5%.
Bitcoin showed resilience, rebounding to 83,600 dollars.
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In Asian trading hours, EUR/USD was broadly flat at 1.1207, while GBP/USD edged up to 1.3242.
Meanwhile, USD/JPY was little changed at 158.23.
Gold rebounded to 4,207 dollars.
Bitcoin was steady at 83,720 dollars.
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No major economic data is scheduled for release today.
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