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Market Wrap: Stocks, Bonds, Commodities |
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On Tuesday, major U.S. stock indexes still lacked momentum, with the S&P 500 slipping 1 point (-0.02%) to 7,805, the Nasdaq 100 down 95 points (-0.31%) to 30,569, and the Dow Jones down 180 points (-0.35%) to 51,670.
Meta Platforms (META) gained 2.63% as optimism around its newly released AI model "Muse Wonder" continued.
Four of the biggest U.S. banks kicked off the third-quarter earnings season. JPMorgan Chase (JPM) slipped 0.86% after missing estimates, while Goldman Sachs (GS) eased 0.23% despite a blowout quarter led by equities trading.
Citigroup (C) fell 5.60% despite beating Street forecasts and raising its full-year net interest income guidance, while Wells Fargo (WFC) dropped 3.10% after an earnings beat paired with a revenue miss.
Semiconductor stocks closed mixed, with Applied Materials (AMAT) falling 6.69% and Micron Technology (MU) down 3.62%, while Advanced Micro Devices (AMD) rebounded 1.90% and Nvidia (NVDA) was up 0.97%.
Energy stocks advanced again as oil prices remained at elevated levels, with ConocoPhillips (COP) rising 2.43%, Chevron (CVX) up 1.27%, and ExxonMobil (XOM) gaining 1.12%.
Oracle (ORCL) rose 4.23% after proposing an energy agreement for its Project Jupiter AI data center in New Mexico.
Johnson & Johnson (JNJ) dropped 5.73% after its MedTech division posted weaker-than-expected sales growth, even as the company raised full-year sales and earnings guidance.
Bumble (BMBL) surged 56.58% after the online dating platform agreed to be taken private by Ithaca Holdings in a 1.3-billion-dollar all-cash deal.
The U.S. 10-year Treasury yield eased 2.5 basis points to 5.217%.
European stocks closed modestly lower, with the DAX 40 dipping 0.07%, the CAC 40 down 0.07%, and the FTSE 100 down 0.06%.
U.S. WTI crude futures added 0.40 dollars to 94.14 dollars a barrel, rising for a fourth straight session.
Spot gold eased 10 dollars to 4,161 dollars an ounce.
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The U.S. dollar softened slightly as the Dollar Index eased from its 18-month high, with EUR/USD rising 43 pips to 1.1198 and USD/JPY falling 26 pips to 158.30.
Major U.S. inflation data will be released later today.
GBP/USD advanced 47 pips to 1.3254, and AUD/USD rose 24 pips to 0.6982.
USD/CHF declined 22 pips to 0.8324, and USD/CAD fell 65 pips to 1.4215.
Bitcoin regained some traction, jumping 2% to 83,400 dollars.
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In Asian trading hours, EUR/USD was firm at 1.1206, and GBP/USD rose to 1.3268.
Meanwhile, USD/JPY edged up to 158.38.
China's exports rose 36.3% year-on-year in September (vs +25.5% expected), while imports climbed 31.0% (vs +24.5% estimated). Separately, China's consumer price index edged up to 0.9% year-on-year in September (vs 1.0% expected), while the producer price index rose 5.0% (vs 4.5% estimated).
Gold was little changed at 4,160 dollars.
Bitcoin was broadly steady at 83,171 dollars.
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In the U.S., the core inflation rate is expected to edge up to 2.5% year-on-year in September.
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