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Market Wrap: Stocks, Bonds, Commodities |
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On Monday, the major U.S. indices began December trading on a bearish note. The S&P 500 declined by 36 points (-0.53%) to 6,812, while the Nasdaq 100 fell by 92 points (-0.36%) to 25,342. The Dow Jones Industrial Average dropped 427 points (-0.90%) to 47,289.
Sector performance was predominantly negative, with Utilities (XLU), Health Care (XLV), and Industrials (XLI) lagging the most. Conversely, Energy (XLE), Consumer Discretionary (XLY), and Technology (XLK) managed to close higher.
Data showed that the ISM manufacturing index declined to 48.2 in November, below 48.8 expected.
In U.S. equity news, Nvidia (NVDA) saw an increase of 1.65% after announcing a 2 billion dollars investment in Synopsys (SNPS) as part of a multi-year partnership. Following this news, Synopsys rose by 4.85%, outperforming the S&P 500.
In contrast, Coinbase (COIN), Robinhood Markets (HOOD), and Strategy (MSTR) experienced declines of 4.76%, 4.09%, and 3.25%, respectively, as Bitcoin was under pressure.
Moderna (MRNA) dropped 7.01% while Novavax (NVAX) fell by 5.11% after an FDA memo revealed that COVID-19 vaccinations might have contributed to the deaths of at least 10 children.
In after-hours trading, Credo Technology Group (CRDO) jumped on second-quarter revenue that topped expectations.
The U.S. 10-year yield rose to 4.09%.
In the commodities market, Gold rose 9 dollars (+0.21%) to 4,239 dollars and Silver gained 1.58 dollars (+2.79%) to a fresh all-time high at 57.99 dollars. WTI Crude Oil futures advanced 0.77 dollars (+1.32%) to 59.32 dollars.
In Europe, Germany's Dax fell 1.04%, France's Cac 40 declined 0.32%, and the U.K. FTSE 100 dropped 0.18%.
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The dollar index fell 0.04% to 99.40.
EUR/USD gained 14 pips (+0.12%) to 1.1609, while GBP/USD slipped 29 pips (-0.22%) to 1.3207.
USD/JPY dropped 71 pips (-0.45%) to 155.44, near a 3-week low.
USD/CHF rose 7 pips (+0.09%) to 0.8044.
AUD/USD declined 6 pips (-0.09%) to 0.6541, halting a 6-day rally, while USD/CAD advanced 24 pips (+0.17%) to 1.3997.
In the cryptocurrencies market, Bitcoin fell 5,250 dollars (-5.76%) to 85,929 dollars, and Ethereum dropped 249 dollars (-8.27%) to 2,772 dollars.
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In Asian trading hours, EUR/USD was steady at 1.1610, while GBP/USD edged up to 1.3215.
Meanwhile, USD/JPY rebounded to 155.65.
Gold retreated to 4,217 dollars.
Bitcoin remained subdued at 86,661 dollars.
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The eurozone's inflation rate is expected to stay at 2.1% year-on-year in November, while jobless rate is estimated to be unchanged at 6.3% in October.
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