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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, the Nasdaq 100 staged an intraday bullish reversal, closing 8 points higher (+0.03%) at 30,478. The S&P 500 dipped 1 point (-0.02%) to 7,704, and the Dow Jones closed 161 points lower (-0.31%) at 51,349.
The U.S. 10-year Treasury yield climbed a further 9.8 basis points to 5.208%, extending Wednesday's surge to its highest level since 2007. The 30-year yield also touched its highest level since 2004.
Meta Platforms (META) jumped 4.50% after unveiling new smart glasses and a small handheld device designed around its Muse artificial intelligence assistant.
Advanced Micro Devices (AMD) gained 2.38%, marking a record closing level.
Oracle (ORCL) fell 3.47% after reports indicated the company sent a force majeure notice tied to its New Mexico data-center project to protect itself from higher expenses.
MGM Resorts International (MGM) tumbled 10.99% after Barry Diller's People Inc. withdrew its proposal to take the casino operator private.
Darden Restaurants (DRI) declined 3.02% after reporting lower-than-expected quarterly revenue.
Dropbox (DBX) lost 4.56% after being downgraded to "sell" by Citigroup.
European stock markets closed lower, with the DAX 40 declining 0.57%, the CAC 40 down 0.52%, and the FTSE 100 down 0.24%.
U.S. WTI crude futures rebounded for a second session, rising 2.45 dollars (+2.66%) to 94.61 dollars a barrel.
Spot gold eased further, dipping 12 dollars to 4,274 dollars an ounce.
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The U.S. dollar stayed firm alongside Treasury yields, with EUR/USD easing 1 pip to 1.1381, and USD/JPY gaining 53 pips to 158.84.
U.S. data showed that the latest initial jobless claims fell to 197,000, coming in lower than expected.
GBP/USD fell 23 pips to 1.3218, and AUD/USD was down 27 pips to 0.7013.
USD/CHF rose 26 pips to 0.8278. The Swiss National Bank kept its key interest rate unchanged at 0%, as expected.
USD/CAD advanced 35 pips to a 2-month high at 1.4138. Canada’s retail sales rose 1.3% month-on-month in August, beating forecasts.
Bitcoin was little changed around 84,400 dollars.
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In Asian trading hours, EUR/USD and GBP/USD both remained subdued, at 1.1376 and 1.3217 respectively.
Meanwhile, USD/JPY eased to 158.41.
Gold rebounded to 4,288 dollars.
Bitcoin was steady at 84,662 dollars.
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Germany's GfK Consumer Confidence Index is expected to slip to -27.4 in October.
In the U.S., durable goods orders are estimated to drop 0.4% month-on-month in August.
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