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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, major U.S. stock indexes fell over 1%, with the S&P 500 dropping 84 points (-1.23%) to 6,798, and the Nasdaq 100 down 342 points (-1.38%) to 24,548.
The Dow Jones was down 592 points (-1.20%) to 48,908.
Alphabet (GOOGL) once slid nearly 8% during the session, but managed to narrow the loss to just 0.53% at close. The tech giant reported stronger-than-expected quarterly results while saying full-year capital expenditure could reach up to 185 billion dollars, much more than expected.
Meanwhile, Microsoft (MSFT) slipped 4.95%, Nvidia (NVDA) lost 1.33%, and Tesla (TSLA) was down 2.17%.
Qualcomm (QCOM) plummeted 8.46% after issuing a lower-than-expected current-quarter result guidance.
Also, Estee Lauder (EL) plunged 19.19%.
Bitcoin price slid over 10%, dragging down cryptocurrency-related stocks, with Coinbase (COIN) falling 13.34% and MicroStrategy (MSTR) dropping 17.12%.
Arm Holdings (ARM) rose 5.70%. Though the company offered a downbeat current-quarter result guidance, major brokerages maintained positive ratings on it.
Amazon (AMZN) closed 4.42% lower, and lost a further 10% in after-market hours after saying that 2026 capital expenditures could jump 50% to 200 billion dollars.
European stocks closed lower, with the DAX 40 falling 0.46%, the CAC 40 down 0.29%, and the FTSE 100 down 0.90%.
Gold failed to regain the key level of 5,000 dollars an ounce, dropping over 3% to 4,778 dollars an ounce.
Silver plunged 19.52% to 70.98 dollars an ounce, the lowest level year to date.
U.S. WTI crude futures retreated 1.85 dollars (-2.84%) to 63.29 dollars a barrel. The U.S. and Iran agreed to hold talks in Oman on Friday.
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The U.S. dollar rebounded further against other major currencies, with the dollar index climbing to 97.95.
Regarding U.S. economic data, the latest number of initial jobless claims was up for a third straight week, jumping to 231,000.
EUR/USD fell 26 pips to 1.1780. As expected, the European Central Bank kept its key interest rate unchanged at 2.15%.
GBP/USD slipped 120 pips to 1.3530. The Bank of England maintained its benchmark interest rate at 3.75%, as expected.
USD/JPY rose 20 pips to 157.05.
AUD/USD dropped 62 pips to 0.6935.
USD/CHF added 8 pips to 0.7779, and USD/CAD advanced 36 pips to 1.3699.
Bitcoin saw escalating selling pressure, once plunging nearly 15% to 62,200 dollars, the lowest level since October 2024, wiping away all gains since Donald Trump won the presidential election.
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In Asian trading hours, silver was seen as low as 64.00 dollars before bouncing back to 71.50 dollars, while gold rebounded to 4,813 dollars.
Meanwhile, USD/JPY retreated to 156.85. Japan's household spending fell 2.6% year-on-year in December, compared with +3.2% expected.
EUR/USD edged up to 1.1788 and GBP/USD climbed to 1.3545.
Bitcoin rebounded to 64,981 dollars.
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Germany's industrial production is expected to grow 0.3% month-on-month in December, while trade surplus is estimated at 14 billion euros.
In the U.S., the Michigan consumer sentiment index is estimated to drop to 53.0 in February.
Canada's employment is expected to drop 10,000 in January, while jobless rate is estimated to be unchanged at 6.8%.
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