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Market Wrap: Stocks, Bonds, Commodities |
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On Tuesday, major U.S. stock indexes kept making record closing levels, with the S&P 500 adding 9 points (+0.13%) to 7,609, the Nasdaq-100 up 146 points (+0.48%) to 30,660, and the Dow Jones up 228 points (+0.45%) to 51,307.
Marvell Technology (MRVL) jumped 32.52% after Nvidia CEO Jensen Huang said the chipmaker could be the next trillion-dollar company.
Applied Materials (AMAT) rose 6.96%, ON Semiconductor (ON) rose 6.38%, and Qualcomm (QCOM) rebounded 5.17%.
Meanwhile, Arm Holdings (ARM) retreated 1.50%, Intel (INTC) slipped another 1.28%, and Nvidia (NVDA) dipped 0.69%.
Alphabet (GOOGL) fell 3.86% after announcing plans to raise 80 billion dollars in equity offerings to fund its artificial infrastructure expansion. Berkshire Hathaway (BRKB) has agreed to a 10-billion-dollar investment in Alphabet through the equity offerings.
Software stocks retreated across the board, with Microsoft (MSFT) sliding 4.17%, Palantir (PLTR) down 5.28%, and ServiceNow (NOW) down 6.04%.
Hewlett Packard Enterprise (HPE) rallied 19.47%. Thanks to surging demand for artificial intelligence infrastructure, the enterprise technology infrastructure provider gave a strong quarterly earnings report and raised its full-year guidance.
Bitcoin-related stocks fell alongside the cryptocurrency, with Strategy (MSTR) tumbling 9.15% and Coinbase (COIN) down 4.72%.
The U.S. 10-year Treasury yield was flat at 4.453%.
European stocks closed higher, with the DAX 40 rising 0.48%, the CAC 40 up 0.77%, and the FTSE 100 up 0.33%.
Oil prices remained supported as a U.S.-Iran peace deal has not yet been confirmed. U.S. WTI crude futures climbed 1.60 dollars (+1.70%) to 93.76 dollars a barrel, a one-week high.
Gold was little changed at 4,489 dollars an ounce.
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The U.S. dollar held firm against other major currencies.
The U.S. Labor Department reported that the number of job openings increased to 7.62 million in April (vs 6.80 million expected), the highest level since May 2024.
EUR/USD was little changed at 1.1630.
The Eurozone's inflation rate accelerated to 3.2% year on year in May (vs. 3.4% expected).
USD/JPY climbed 27 pips to 159.92, very close to the key level of 160 which traders widely think would trigger market intervention by Japanese authorities.
GBP/USD advanced 12 pips to 1.3463, and AUD/USD climbed 24 pips to 0.7179.
USD/CHF added 5 pips to 0.7870, while USD/CAD was little changed at 1.3836.
Bitcoin accelerated to the downside after crossing below the level of 70,000 dollars, testing support at 66,000 dollars.
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In Asian trading hours, AUD/USD was little changed at 0.7177. Australia's gross domestic product grew 2.5% year-on-year in the first quarter as expected.
Meanwhile, EUR/USD and GBP/USD were both relatively steady, at 1.1630 and 1.3465 respectively.
USD/JPY was firm at 159.90.
Gold slipped to 4,478 dollars.
Bitcoin was under pressure at 66,770 dollars.
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The eurozone's producer price index is estimated to be up 6.3% year-on-year in April.
In the U.S., the ADP employment is expected to increase by 75,000 in May, while the ISM services purchasing managers index is anticipated to slip to 53.0. Also, factory orders are estimated to grow 2.7% month-on-month in April.
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