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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, the major U.S. equity indices stayed choppy. The S&P 500 slipped 1 point (-0.01%) to 7,357, while the Nasdaq 100 rose 220 points (+0.75%) to 29,440 and the Dow gained 71 points (+0.14%) to 51,920.
Micron Technology (MU) surged 15.74% amid stronger-than-expected third-quarter results and solid fourth-quarter guidance. Peer SanDisk (SNDK) jumped 21.97% and Western Digital (WDC) rose 4.90%.
QUALCOMM (QCOM) gained 3.79% after forecasting that its data center business will generate more than 15 billion dollars in sales by fiscal 2029.
Apple (AAPL) fell 6.12% after increasing prices on nearly all its major products as higher costs from memory and storage chip shortages pressured margins.
Microsoft (MSFT) declined 3.46% as it raised prices on Xbox consoles worldwide in response to rising costs for storage and memory technologies.
Amazon.com (AMZN) dropped 3.10%. The company announced plans to invest an additional 13 billion dollars in India by 2030 to support artificial intelligence and cloud infrastructure.
In U.S. economic data, the core personal consumption expenditures price index rose 3.4% year-on-year in May as expected. Durable goods orders fell 4.5% month-on-month in May, more than the estimated decline of 4.0%.
The U.S. 10-year Treasury yield fell to 4.392%.
At the European close, the DAX 40 gained 1.03%, the CAC 40 rose 0.55%, and the FTSE 100 climbed 0.65%.
In the commodities market, gold rose 29 dollars (+0.72%) to 4,029 dollars. U.S. WTI crude oil futures (August) rebounded 1.58 dollars (+2.25%) to 71.92 dollars a barrel after reports that Iran’s Islamic Revolutionary Guard Corps attacked a Singapore-flagged cargo ship in the Strait of Hormuz.
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The U.S. dollar eased against its major peers, with the dollar index falling 0.18 points (-0.17%) to 101.43.
EUR/USD increased 15 pips (+0.13%) to 1.1372. Germany’s GfK consumer confidence index registered -29.2 for July, versus the -27.5 forecast.
GBP/USD advanced 30 pips (+0.23%) to 1.3195.
USD/JPY gained 2 pips (+0.01%) to 161.79.
USD/CHF dipped 24 pips (-0.30%) to 0.8096.
AUD/USD rose 10 pips (+0.14%) to 0.6909.
USD/CAD slipped 35 pips (-0.25%) to 1.4197.
In the cryptocurrency market, Bitcoin dropped 1,393 dollars (-2.29%) to 59,507 dollars, while Ethereum slid 47 dollars (-2.94%) to 1,564 dollars.
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In Asian trading hours, EUR/USD eased to 1.1358 and GBP/USD fell to 1.3183.
Meanwhile, USD/JPY was steady at 161.77.
Gold retreated to 3,988 dollars.
Bitcoin remained below the 60,000 dollars mark.
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In the U.S., wholesale inventories are estimated to grow 0.2% month-on-month in May.
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