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Market Wrap: Stocks, Bonds, Commodities |
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On Wednesday, the S&P 500 halted a three-session decline, rebounding 35 points (+0.46%) to 7,666. The Nasdaq 100 gained 66 points (+0.23%) to 29,143, and the Dow Jones was up 295 points (+0.56%) to 53,061.
The U.S. 10-year Treasury yield retreated 1.6 basis points to 4.780%, ending a five-session rally.
U.S. WTI crude futures remained firm, holding above 90 dollars a barrel. U.S. data showed that crude-oil stockpiles fell by 4.45 million barrels, a much larger reduction than expected.
Dell Technologies (DELL) extended its post-earnings rally, surging 15.81% to become the best-performing stock in the S&P 500.
Palo Alto Networks (PANW) fell 9.28%, becoming the worst performer in the S&P 500 despite upbeat quarterly results and outlook. Separately, the company announced the acquisition of Console, an AI-native platform focused on agentic capabilities.
Among semiconductor stocks, Nvidia (NVDA) rose 3.21%, Micron Technology (MU) climbed 2.43%, and Qualcomm (QCOM) was up 2.01%.
Broadcom (AVGO) closed 0.66% lower, then added 3% in after-market hours. The chipmaker reported better-than-expected quarterly results, with revenue growing 86% year-on-year.
Snowflake (SNOW) closed 4.26% lower, but surged 22% in after-market hours. The cloud-based data platform reported 35% annual growth in second-quarter revenue and raised its full-year guidance.
European stock indexes finished in negative territory, with the DAX 40 dropping 0.50%, the CAC 40 down 0.26%, and the FTSE 100 down 0.30%.
Spot gold rebounded 59 dollars (+1.37%) to 4,388 dollars an ounce, halting a three-session decline.
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The U.S. dollar softened against the yen, with USD/JPY slipping 146 pips to 158.71. The U.S. Treasury Department said in a statement that Treasury Secretary Scott Bessent met Bank of Japan Governor Kazuo Ueda and called for decisive monetary steps to combat the weak yen.
The ADP jobs report showed that the number of private payrolls increased by 38,000 in August, lower than expected.
U.S. factory orders rose 0.9% month-on-month in July, more than expected.
USD/CAD declined 54 pips to 1.3839. As widely expected, the Bank of Canada held its key interest rate unchanged at 2.25%. However, Governor Tiff Macklem flagged upside inflation risks tied to elevated oil prices and renewed tariffs.
EUR/USD dipped 5 pips to 1.1587, GBP/USD fell 31 pips to 1.3484, while AUD/USD climbed 25 pips to 0.7169.
Bitcoin lacked upward momentum, testing support at the 77,000-dollar level.
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In Asian trading hours, AUD/USD was broadly steady at 0.7164. Australia's trade surplus for July totaled 1.9 billion Australian dollars, above the 1.4 billion Australian dollars estimated.
Meanwhile, EUR/USD edged up to 1.1592 and GBP/USD advanced to 1.3488.
USD/JPY extended its slide to 157.70.
Gold rose to 4,418 dollars.
Bitcoin rebounded to 77,787 dollars.
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The eurozone's producer price index is estimated to be up 4.7% year-on-year in July.
In the U.S., the ISM Services Index is anticipated to slip to 54.3 in August, while the trade deficit for July is estimated at 90 billion dollars. Also, weekly initial jobless claims are expected at 205,000.
Canada's trade surplus for July is estimated at 3.6 billion Canadian dollars.
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