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Market Wrap: Stocks, Bonds, Commodities |
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On Tuesday, the S&P 500 jumped 136.02 points (+1.79%) to 7,736, and the Dow Jones advanced 907 points (+1.71%) to 54,085, both achieving record closing levels.
The Nasdaq 100 surged 956 points (+3.32%) to 29,733.
Nvidia (NVDA) rose 2.56%, Tesla (TSLA) climbed 1.64%, and Alphabet (GOOGL) was up 1.11%.
Apple (AAPL) closed 1.96% higher, halting a four-session decline.
Semiconductor stocks rose across the board, with Arm Holdings (ARM) jumping 17.36%, Marvell Technology (MRVL) up 12.81%, Intel (INTC) up 10.84%, and Micron (MU) up 7.62%.
Palantir (PLTR) soared 29.45%, becoming the top-performing stock in the S&P 500. The company reported a 93% year-on-year revenue growth in the second quarter and raised its full-year outlook.
Caterpillar (CAT) gained 5.60%. The company reported better-than-expected quarterly earnings and raised its full-year revenue growth forecast.
Space Exploration Technologies (SPCX) closed 9.43% higher, but dropped 6% in after-market hours. The company reported a 92% year-on-year growth in quarterly revenue, but investors were concerned over its heavy capital investment.
Advanced Micro Devices (AMD) closed 7.00% higher, but fell 9% in after-market hours. The chip maker’s second-quarter revenue grew 50% year-on-year, beating expectations. Sales to data centers increased 107% to 6.7 billion dollars.
The 10-year U.S. Treasury yield was down for a second session, declining 6.1 basis points to 4.615%.
European stocks were broadly higher at close, with the DAX 40 rising 0.77%, the CAC 40 up 0.61%, and the FTSE 100 up 0.20%.
U.S. WTI crude futures slid 4.57 dollars (-5.69%) to 75.77 dollars a barrel. Both U.S. Secretary of State Marco Rubio and Treasury Secretary Scott Bessent revealed progress in talks with Iran.
Spot gold added 22 dollars to 4,077 dollars an ounce.
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USD/JPY rebounded 55 pips to 157.73 after declining for four sessions. U.S. Treasury Secretary Scott Bessent said the U.S. will do "whatever it takes" to support Japan's effort to stabilize the yen, following last week's U.S.-Japan joint intervention to buy the yen.
Meanwhile, the U.S. dollar weakened against other major currencies, with EUR/USD rising to 1.1533, GBP/USD up to 1.3452, and AUD/USD up to 0.7047.
Bitcoin climbed alongside risk assets, gaining over 1% to 64,100 dollars.
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In Asian trading hours, EUR/USD and GBP/USD were both relatively steady, at 1.1537 and 1.3455 respectively.
Meanwhile, USD/JPY retreated to 157.36.
Gold advanced to 4,127 dollars.
Bitcoin climbed to 64,364 dollars.
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The eurozone's producer price index is estimated to be up 4.6% year-on-year in June.
France's industrial production is expected to grow 0.3% month-on-month in June.
In the U.S., the ADP employment is estimated to increase by 70,000 in July, while the ISM services purchasing managers index is expected to climb to 54.5.
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