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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, major U.S. stock indexes closed mixed after a heavy sell-off in the prior session. The Dow Jones Industrial Average rebounded 81 points (+0.20%) to 39,935, while the S&P 500 fell 27 points (-0.51%) to 5,399, and the Nasdaq 100 slid a further 201 points (-1.06%) to 18,830.
Energy, industrial and financial stock sectors were market leaders, while technology and utilities sectors lost the most.
Tesla (TSLA) rebounded 1.97%, while other megacap tech stocks remained under pressure, with Alphabet (GOOGL) falling 3.10%, Microsoft (MSFT) down 2.45%, Nvidia (NVDA) down 1.72%, and Meta Platforms (META) down 1.70%.
Ford Motor (F) plunged 18.36% after reporting disappointing quarterly earnings.
International Business Machines (IBM) rose 4.33% as the company's second-quarter results beat expectations.
ServiceNow (NOW), a cloud-based software management firm, surged 13.4%, and Southwest Airlines (LUV) gained 5.52%.
The U.S. 10-year Treasury yield retreated 3 basis points to 4.256%.
Regarding U.S. economic data, gross domestic product grew 2.8% quarter on quarter in the second quarter (vs +2.5% expected). The latest initial jobless claims declined to 235,000 (vs 247,000 expected).
Durable goods orders fell 6.6% month on month in June (vs +0.3% expected).
U.S. core personal consumption expenditure (PCE) price growth, to be released later today, is expected to slow to 2.5% year on year in June.
In Europe, the DAX 40 dipped 0.48%, the CAC 40 dropped 1.15%, while the FTSE 100 gained 0.40%.
U.S. WTI crude-oil futures rose $0.57 to $78.16 a barrel.
Gold price fell $52 (-2.15%) to $2,361 an ounce.
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The U.S. dollar index was little changed at 104.38.
EUR/USD added 4 pips to 1.0843. Germany's Ifo business climate indicator dipped to 87.0 in July (vs 89.0 expected).
USD/JPY marked a low of 151.95 before rebounding to 153.86.
GBP/USD fell 56 pips to 1.2850, and AUD/USD dropped 47 pips to 0.6534.
USD/CHF declined 43 pips to 0.8808, while USD/CAD added 19 pips to 1.3826.
Bitcoin saw volatile trading, as it once touched a low of $63,412 before bouncing back to $65,687, halting a three-day decline.
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In Asian trading hours, USD/JPY eased to 153.70. Japan's data showed that Tokyo's core inflation accelerated to 2.2% year on year in July (vs 2.3% expected).
Meanwhile, EUR/USD advanced to 1.0860 and GBP/USD was up slightly to 1.2865.
Gold rebounded to $2,372.
Bitcoin bounced to $66,690.
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France's consumer confidence index is expected to slip to 88.6 in July.
In the U.S., core personal consumption expenditure price index is estimated to be up 0.1% month-on-month in June, while personal income and personal spending are both expected to increase by 0.3%. Also, final reading of Michigan consumer sentiment index for July is estimated at 66.0.
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