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Market Wrap: Stocks, Bonds, Commodities |
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On Friday, U.S. stocks came under pressure, with the Nasdaq 100 slumping 489 points (-1.91%) to 25,196.
Both the S&P 500 (down 73 points or 1.07% to 6,827) and the Dow Jones Industrial Average (down 245 points or 0.51% to 48,458) retreated from record-high closing levels.
Stocks under the artificial intelligence (AI) theme saw increased selling pressure.
Broadcom (AVGO) sank 11.43% after informing investors that its rising sales of lower-margin AI processors were impacting profitability.
Oracle (ORCL) dropped a further 4.47% after losing 11% Thursday.
Also, Nvidia (NVDA) fell 3.27%, Micron (MU) dropped 6.70%, and Advanced Micro Devices (AMD) was down 4.81%.
Lululemon Athletica (LULU) surged 9.60%. The yoga and exercise apparel company raised its full-year result guidance, and said its chief executive officer will step down in January 2026.
The U.S. 10-year Treasury yield climbed 3.3 basis points to 4.186%.
European stocks closed lower, with the DAX 40 falling 0.45%, the CAC 40 down 0.21%, and the FTSE 100 down 0.56%.
Gold price ran up to a high of 4,354 dollars an ounce before retreating to 4,299 dollars an ounce.
U.S. WTI crude futures eased a further 16 cents to 57.44 dollars a barrel.
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The U.S. dollar index edged up to 98.38.
EUR/USD was largely flat at 1.1739.
USD/JPY rose 25 pips to 155.82.
GBP/USD retreated 23 pips to 1.3363. U.K. gross domestic product unexpectedly shrank 0.1% month on month in October.
AUD/USD fell 14 pips to 0.6648.
USD/CHF added 7 pips to 0.7958.
USD/CAD dipped 3 pips to 1.3766. In Canada, the number of building permits jumped 14.9% month on month in October, much more than expected.
Over the weekend, Bitcoin crossed below the level of 89,000 dollars.
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On Monday, in Asian trading hours, the Japanese yen strengthened, as USD/JPY declined to 155.51.
The Bank of Japan Tankan large manufacturers’ confidence index rose to a four-year high of +15 in the three months to December.
China’s industrial production grew 4.8% year on year in November (vs +5.4% expected).
AUD/USD (at 0.6653), EUR/USD (at 1.1742) and GBP/USD (at 1.3372) were steady.
Gold price bounced 24 dollars to 4,324 dollars an ounce, extending its rally to a fifth session.
Bitcoin showed signs of stabilization, trading at levels above 89,000 dollars.
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The U.S. New York State manufacturing index is expected to fall to 11.0 in December.
Canada’s inflation rate may tick up to 2.3% year on year in November.
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