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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, the Dow Jones jumped 874 points (+1.73%) to 51,561, a record closing level.
The S&P 500 advanced 30 points (+0.41%) to 7,584, while the Nasdaq 100 dropped 163 points (-0.53%) to 30,407.
The Dow Jones was led higher by UnitedHealth (UNH), which gained 5.16% following an upgrade to "buy" by Bank of America.
Also, Goldman Sachs (GS) rose 4.96%, JPMorgan (JPM) climbed 3.34%, and Boeing (BA) was up 3.25%.
On the other hand, the Nasdaq 100 was dragged by Broadcom (AVGO), which plunged 12.59% as its current-quarter sales guidance missed market expectations.
And most other semiconductor stocks showed marked losses, with Micron (MU) sliding 7.74%, Arm Holdings (ARM) down 4.47%, and Advanced Micro Devices (AMD) down 3.56%.
However, Nvidia (NVDA) closed 1.82% higher, outperforming the semiconductor sector as well as the whole market.
Alphabet (GOOGL) rose 3.82%. The tech giant has teamed up with IBM to develop agentic artificial intelligence for enterprises.
CrowdStrike Holdings (CRWD) dropped 3.81%. The cybersecurity firm gave a disappointing current-quarter earnings guidance.
The U.S. 10-year Treasury yield declined 1.8 basis points to 4.475%.
European stocks posted gains, with the DAX 40 rising 0.60%, the CAC 40 up 1.15%, and the FTSE 100 up 0.27%.
U.S. WTI crude futures settled 2.98 dollars lower (-3.10%) at 93.04 dollars a barrel, ending a three-session rally. The Wall Street Journal reported that U.S. President Donald Trump is reluctant to resume full-scale war against Iran.
Gold rebounded 40 dollars to 4,475 dollars an ounce.
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The U.S. dollar softened against other currencies, with the dollar index easing to 99.44.
Regarding U.S. economic data, the latest number of initial jobless claims rose to 225,000, more than expected.
Investors are focusing on the official U.S. jobs report for May, which will be released later today.
USD/JPY dipped 6 pips to 160.02.
EUR/USD gained 15 pips to 1.1610
GBP/USD added 5 pips to 1.3421, and AUD/USD was up 5 pips to 0.7133.
USD/CHF slipped 24 pips to 0.7894, while USD/CAD traded 13 pips higher to 1.3909.
Bitcoin briefly sank below 62,000 dollars before climbing back to 63,300 dollars.
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In Asian trading hours, USD/JPY was broadly flat at 159.97. Japan’s data showed that household spending dropped 0.5% year on year in April (vs -2.6% expected), and average cash earnings were up 3.5% year on year (vs +2.8% expected).
Meanwhile, EUR/USD and GBP/USD were both steady, at 1.1615 and 1.3426 respectively.
Gold retreated to 4,453 dollars.
Bitcoin fell to 62,812 dollars.
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France's trade deficit for April is estimated at 7.3 billion euros, while industrial production is expected to grow 0.2% month-on-month.
In the U.S., nonfarm payrolls are estimated to increase by 85,000 in May, while jobless rate is expected to stay at 4.3%.
Canada's employment is estimated to increase by 8,000 in May, while jobless rate is expected to be unchanged at 6.9%.
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