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Market Wrap: Stocks, Bonds, Commodities |
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On Tuesday, major U.S. indices finished higher. The S&P 500 advanced 45 points (+0.60%) to 7,722, the Nasdaq 100 jumped 378 points (+1.29%) to 29,651, and the Dow Jones edged up 15 points (+0.03%) to 52,377.
The U.S. 10-year Treasury yield rose 1.1 basis points to 4.999%.
Regarding U.S. economic data, durable goods orders rose 1.8% month-on-month in September, above the 1.5% expected.
Pentair (PNR) surged 12.80% after reporting third-quarter adjusted EPS of 1.18 dollars, above expectations.
Dell Technologies (DELL) jumped 7.47% after expanding its cybersecurity and resilience portfolio with new services designed to protect AI environments, identity systems, and critical infrastructure.
Boeing (BA) tumbled 10.69% after reporting a third-quarter adjusted loss of 0.34 dollars per share, missing expectations. The company indicated that it will not reach its 737 production rate target until 2027.
In after-hours trading, Visa (V) reported higher fiscal fourth-quarter profit amid stronger payment volumes and transaction growth. Seagate Technology (STX) reported a sharp increase in fiscal first-quarter profit, with continued investment in AI infrastructure supporting demand for its storage products.
Alphabet (GOOGL) and Microsoft (MSFT) will release quarterly earnings later today.
In Europe, the DAX 40 gained 0.71%, the CAC 40 rose 0.51%, and the FTSE 100 fell 0.75%.
In the commodities market, spot gold gained 45 dollars (+1.11%) to 4,061 dollars an ounce. U.S. WTI crude oil futures (December) fell 1.86 dollars (-1.83%) to 99.90 dollars a barrel.
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The U.S. dollar strengthened further ahead of the Federal Reserve's rate decision, with the Dollar Index gaining 0.35% to 102.31.
EUR/USD fell 40 pips (-0.38%) to 1.1130, and GBP/USD declined 30 pips (-0.22%) to 1.3309.
USD/JPY gained 40 pips (+0.25%) to 157.90, and USD/CHF rose 16 pips (+0.19%) to 0.8287.
AUD/USD gained 9 pips (+0.13%) to 0.7025.
USD/CAD rose 41 pips (+0.29%) to 1.4052. The Bank of Canada is expected to raise its benchmark rate by 25 basis points later today.
Bitcoin gained 935 dollars (+1.17%) to 80,682 dollars.
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In Asian trading hours, NZD/USD slid 80 pips to 0.5609. The Reserve Bank of New Zealand kept its benchmark rate unchanged at 2.75%, while the market expected a rate hike of 25 basis points.
Meanwhile, AUD/USD edged up to 0.7032. Australia's inflation rate climbed to 4.3% year-on-year in September, above the 4.2% expected.
EUR/USD and GBP/USD remained subdued, trading at 1.1122 and 1.3300 respectively.
USD/JPY held firm near 157.95.
Spot gold pulled back to 4,045 dollars an ounce.
U.S. WTI crude oil futures (December) rebounded 1.30 dollars (+1.30%) to 101.20 dollars a barrel.
Bitcoin climbed to 81,050 dollars.
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Germany's GfK Consumer Confidence Index is forecast to weaken to 30.9 in November.
In the U.S., the Federal Reserve is expected to hold its Fed funds target rate range at 3.75% - 4.00%.
The Bank of Canada is expected to raise its benchmark rate by 25 basis points to 2.50%.
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