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Market Wrap: Stocks, Bonds, Commodities |
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On Monday, the major U.S. indexes closed mixed.
The S&P 500 dipped 5 points (-0.07%) to 7,403, and the Nasdaq 100 fell 130 points (-0.45%) to 28,994.
The Dow Jones closed 159 points higher (+0.32%) at 49,686.
The U.S. 10-year Treasury yield ran up to a one-year high of 4.631% before easing to 4.585%.
Semiconductor stocks continued to retreat, with Nvidia (NVDA) dropping 1.33%, Broadcom (AVGO) down 1.05%, Micron (MU) down 5.95%, and Applied Materials (AMAT) down 5.28%.
Also, Sandisk (SNDK) slid 5.30%, Seagate Technology (STX) lost 6.87%, and Western Digital (WDC) was down 4.84%.
Energy stocks outperformed the market on rising oil prices, with Exxon Mobil (XOM) rising 1.63%, Chevron (CVX) up 2.63%, and APA Corp (APA) up 3.00%.
Dominion Energy (D) surged 9.44%, while NextEra Energy (NEE) closed 4.63% lower. NextEra Energy announced its acquisition of Dominion Energy in a 66.8-billion-dollar deal that would create the largest electric utility company in the U.S.
ServiceNow (NOW) jumped 8.78%. Bank of America reinstated coverage of the enterprise software maker with a "buy" rating and a price target of 130 dollars.
European stocks advanced further, with the DAX 40 gaining 1.49%, the CAC 40 up 0.44%, and the FTSE 100 up 1.26%.
U.S. WTI crude futures for July delivery settled 3.36 dollars higher (+3.33%) at 104.38 dollars a barrel, but eased to 102.47 dollars a barrel in early Asian trading hours on Tuesday.
U.S. President Donald Trump said he was holding off on a planned military attack on Iran scheduled for Tuesday.
Gold was up 20 dollars to 4,587 dollars an ounce.
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The U.S. dollar pared some of its recent gains against other major currencies, with the dollar index slipping to 98.95.
EUR/USD added 33 pips to 1.1658, and GBP/USD climbed 112 pips to 1.3433.
USD/JPY edged up 7 pips to 158.83.
AUD/USD climbed to 0.7175, while USD/CHF slipped to 0.7839 and USD/CAD edged lower to 1.3735.
Bitcoin dropped past the level of 77,000 dollars.
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In Asian trading hours, USD/JPY climbed to 158.97. Japan’s gross domestic product grew at an annualized rate of 2.1% in the first quarter, faster than expected.
Meanwhile, AUD/USD retreated to 0.7140. Australia's Westpac consumer confidence index rose to 83 in May, above 79.2 expected.
EUR/USD eased to 1.1642 and GBP/USD fell to 1.3413.
Gold dropped to 4,548 dollars.
Bitcoin remained subdued at 76,685 dollars.
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The eurozone's trade surplus for March is estimated at 35 billion euros.
U.K. jobless rate for the January-March period is expected to stay at 4.9%.
In the U.S., pending home sales are anticipated to be up 1.8% month-on-month in April.
Canada's inflation rate is estimated to accelerate to 3.0% year-on-year in April.
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