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Market Wrap: Stocks, Bonds, Commodities |
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On Tuesday, thanks to rallying semiconductor stocks, the Nasdaq 100 rose 250 points (+0.82%) to 30,732, a record closing level.
The S&P 500 closed largely flat at 7,764, while the Dow Jones fell 185 points (-0.36%) to 51,863.
Meta Platforms (META) eased 0.63% after surging 11% in the prior session.
Nvidia (NVDA) added 0.66%, posting a six-session rebound.
Analysts said Meta’s new consumer artificial intelligence (AI) agent "Muse" could revive demand for computing power. As a result, semiconductor stocks continued to rally, with Micron Technology (MU) jumping 5.00%, ON Semiconductor (ON) up 2.62%, Qualcomm (QCOM) up 2.08%, and Marvell Technology (MRVL) up 1.93%.
Advanced Micro Devices (AMD) charged 1.34% higher to a record close.
Data-storage stocks also outperformed the market, with SanDisk (SNDK) gaining 6.82%, Seagate Technology (STX) up 4.85%, and Western Digital (WDC) up 3.67%.
Moderna (MRNA) advanced 5.56% to a record close on continued optimism over its cancer vaccine's Phase 3 trial results.
Energy stocks stayed under pressure, with Valero Energy (VLO) losing 4.10%, APA Corp (APA) down 3.45%, and Marathon Petroleum (MPC) down 3.16%.
Royal Caribbean Group (RCL) dropped 6.14% after reports indicated the company is in advanced talks to acquire a 50% stake in Caribbean resort chain Sandals for 3 billion dollars.
The U.S. 10-year Treasury yield edged up 0.4 basis point to 4.955%.
In Europe, the DAX 40 edged up 0.02%, the CAC 40 gained 0.20%, while the FTSE 100 dropped 0.29%.
U.S. WTI crude futures declined 1.85 dollars (-2.00%) to 90.52 dollars a barrel, extending their decline to a fifth session. U.S. President Donald Trump said the U.S. held hours-long talks with Iran. Also, Saudi Arabia moved to restart its East-West pipeline.
Spot gold rose 13 dollars to 4,356 dollars an ounce.
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The U.S. dollar held firm as elevated Treasury yields and rate-hike expectations continued to support the greenback.
Regarding U.S. economic data, the Richmond Fed Manufacturing Index came in at -2 for September (vs 5 expected, 4 in August).
EUR/USD declined 14 pips to an 8-week low at 1.1448, and GBP/USD slipped 24 pips to 1.3339.
USD/JPY was stable at 157.38, and USD/CAD advanced 32 pips to 1.4064.
Bitcoin remained buoyed at 86,400 dollars.
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In Asian trading hours, EUR/USD dropped to 1.1433, and GBP/USD fell to 1.3324.
Meanwhile, USD/JPY rose to 157.63.
Gold retreated to 4,334 dollars.
Bitcoin was stable at 86,496 dollars.
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The eurozone's S&P Global Manufacturing purchasing managers index is expected to edge lower to 52.6 in September.
In the U.K., the S&P Global Manufacturing purchasing managers index is anticipated to slip to 51.5 in September.
In the U.S., the S&P Global Manufacturing purchasing managers index is estimated to drop to 53.6 in September.
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