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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, U.S. stocks closed lower, with the S&P 500 declining 19 points (-0.28%) to 6,861, and the Nasdaq 100 down 101 points (-0.41%) to 24,797.
The Dow Jones dropped 267 points (-0.54%) to 49,395.
Apple (AAPL) slipped 1.43% after rebounding for two sessions.
Walmart (WMT) declined 1.38% despite better-than-expected fourth-quarter results.
eBay (EBAY) rose 3.13% and Etsy (ETSY) jumped 9.28%. eBay announced its acquisition of Depop, a popular second-hand clothing app, from Etsy for 1.2 billion dollars.
Occidental Petroleum (OXY) jumped 9.38% as quarterly earnings exceeded market expectations.
Deere & Co (DE) surged by 11.58%. The agricultural machinery maker raised its full-year net income forecast.
Carvana (CVNA) plummeted 7.95% as the online used car retailer’s quarterly results fell short of expectations.
The U.S. 10-year Treasury yield was down 1.2 basis points to 4.071%.
European stocks closed in the red, the DAX 40 falling 0.93%, the CAC 40 down 0.36%, and the FTSE 100 down 0.55%.
Gold added 20 dollars to 4,997 dollars an ounce.
U.S. WTI crude futures bounced a further 1.35 dollars (+2.08%) to 66.40 dollars a barrel, a six-month high. Oil prices remained buoyed by growing worries that the U.S. will strike Iran soon.
Also, U.S. data showed an unexpected reduction of 9.0 million barrels in crude-oil stockpiles and a bigger-than-expected reduction of 3.2 million barrels in gasoline stockpiles.
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The U.S. dollar remained firm against other major currencies, with the dollar index climbing to 97.86.
The latest U.S. initial jobless claims declined to 206,000, down for a second consecutive week.
The Philadelphia Fed manufacturing index rose to 16.3 in February (vs 7.0 expected, 12.6 in January).
EUR/USD slipped 10 pips to 1.1772.
USD/JPY rose 22 pips to 155.04. Japan's core inflation rate slowed to 2.0% year on year in January, lower than expected.
Also, Japan's machinery orders jumped 19.1% month on month in December, much faster than expected.
GBP/USD dropped 31 pips to 1.3460.
AUD/USD increased 17 pips to 0.7058. In Australia, an addition of 50,500 people got full-time employment in January, much more than expected.
USD/CHF advanced 21 pips to 0.7749, while USD/CAD dipped 6 pips to 1.3689.
Bitcoin traded slightly higher at levels around 66,800 dollars.
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In Asian trading hours, EUR/USD fell to 1.1756 and GBP/USD dropped to 1.3440, near a 1-month low.
Meanwhile, USD/JPY edged up to 155.15.
Gold held gains at 5,000 dollars.
Bitcoin was steady at 67,265 dollars.
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Germany's producer price index is expected to drop 2.3% year-on-year in January, while the HCOB manufacturing purchasing managers index is anticipated to improve to 49.8 in February.
U.K. retail sales are estimated to grow 0.2% month-on-month in January, while the S&P Global manufacturing purchasing managers index is expected to edge up to 51.9 in February and the services index is estimated to slip to 53.6.
In the U.S., the core personal consumption expenditures price index is anticipated to stay at 2.8% year-on-year in December, while the S&P Global manufacturing purchasing managers index is expected to be down to 51.8 in February and the services index is estimated to edge lower to 52.5. Also, new home sales are expected to decline by 2.8% month-on-month in December.
Canada's retail sales are estimated to grow 0.2% month-on-month in January, while producer price index is expected to be up 4.4% year-on-year.
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