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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, U.S. stocks fell further, with the S&P 500 slipping 18 points (-0.27%) to 6,606, and the Nasdaq 100 down 69 points (-0.29%) to 24,355.
The Dow Jones declined 203 points (-0.44%) to 46,021.
Though being off their lowest points within the session, all the three major stock indexes marked their lowest closing levels so far in 2026.
Micron Technology (MU) closed 3.78% lower despite record quarterly results and robust guidance, as investors were concerned about the company’s expanding capital expenditure.
Meanwhile, other data-storage stocks kept outperforming the market, with Sandisk (SNDK) advancing 2.44% and Western Digital (WDC) up 3.95%, both marking record closing levels, and Seagate Technology (STX) up 6.84%.
Tesla (TSLA) fell 3.19%, Meta (META) dropped 1.46%, and Nvidia (NVDA) was down 1.02%.
Uber (UBER) declined 1.72%, while electric-vehicle maker Rivian (RIVN) gained 3.80%. Uber announced plans to invest up to 1.25 billion dollars in Rivian (RIVN) and to buy from it thousands of robotaxis.
Alibaba Group (BABA) sank 7.09%. The Chinese tech giant’s quarterly net income slumped 66% year on year.
Five Below (FIVE) jumped 10.68%. The discount retailer reported a 15% growth in quarterly same-store sales.
The U.S. 10-year Treasury yield retreated 1.6 basis points to 4.249%.
European stocks closed sharply lower, with the DAX 40 sliding 2.82%, the CAC 40 down 2.03%, and the FTSE 100 down 2.35%.
U.S. WTI crude futures failed to hold their 3% gain seen at the session’s open, settling 9 cents lower on day at 95.55 dollars a barrel.
Gold accelerated to the downside, tumbling 168 (-3.50%) to 4,649 dollars an ounce.
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The U.S. dollar weakened sharply against other major currencies, with the dollar index declining 0.86 point to 99.23.
Investors were busy observing major central banks deciding on interest rates.
EUR/USD rose 137 pips (+1.20%) to 1.1587. The European Central Bank kept its key interest rate steady at 2.15%, as expected.
USD/JPY fell 222 pips (-1.39%) to 157.64. As anticipated, the Bank of Japan maintained its key interest rate unchanged at 0.75%.
GBP/USD advanced 173 pips (+1.31%) to 1.3427. The Bank of England held its key rate unchanged at 3.75%, as expected.
USD/CHF slipped 50 pips to 0.7879. the Swiss National Bank kept its benchmark rate unchanged at 0.00%, as expected.
Bitcoin extended its decline to a third session on Thursday, testing the support at the level of 70,000 dollars.
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In Asian trading hours, EUR/USD eased to 1.1562 and GBP/USD fell to 1.3410.
Meanwhile, USD/JPY rebounded to 158.30.
Gold climbed to 4,718 dollars.
Bitcoin remained subdued at 70,460 dollars.
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The eurozone's trade surplus for January is expected at 11.5 billion euros.
Germany's producer price index is estimated to drop 2.7% year-on-year in February.
Canada's producer price index is expected to be up 5.5% year-on-year in February, while retail sales are estimated to slip 0.3% month-on-month.
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