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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, major U.S. stock indexes closed in the red, with the Dow Jones retreating 464 points (-0.85%) to 53,885 and ending a five-session rally.
The S&P 500 slipped 13 points (-0.18%) to 7,709, and the Nasdaq 100 was down 114 points (-0.39%) to 29,373.
Microsoft (MSFT) closed 2.54% higher, while Alphabet (GOOGL) was down 1.29%.
Sandisk (SNDK) fell 6.81% and Western Digital (WDC) sank 13.03%, as both data-storage companies gave a lower-than-expected outlook.
AppLovin (APP) plunged 19.66%, as both the marketing platform’s quarterly results and forward guidance missed market expectations.
Datadog (DDOG) tumbled 19.03%, as the cloud monitoring company projected slowing revenue growth in the third quarter.
Space Exploration Technologies (SPCX) rebounded 6.14% after losing more than 13% in the prior session. Note that the company’s insiders can start selling a portion of their shares.
Eli Lilly (LLY) advanced a further 1.89%, after jumping 4.86% in the prior session on better-than-expected results.
The 10-year U.S. Treasury yield rebounded 6.1 basis points to 4.676%.
In Europe, the DAX 40 edged up 0.05%, and the CAC 40 rose 0.35%, while the FTSE 100 declined 0.19%.
U.S. WTI crude futures climbed 2.07 dollars (+2.75%) to 77.29 dollars a barrel.
Spot gold eased 7 dollars to 4,240 dollars an ounce after jumping more than 4% in the prior session.
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The U.S. dollar regained some strength, with EUR/USD declining 32 pips to 1.1519 and USD/JPY rising 75 pips to 158.49.
USD/CHF bounced 57 pips to 0.8125.
GBP/USD slipped 19 pips to 1.3447, and AUD/USD was down 27 pips to 0.7030.
Investors are watching closely the monthly official U.S. jobs report due later today. It is expected that the economy added 80,000 nonfarm payrolls in July (vs +57,000 in June) with the jobless rate remaining stable at 4.2%.
Bitcoin managed to hold at levels above 64,000 dollars.
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In Asian trading hours, USD/JPY eased to 158.34. Japan's household spending fell 3.3% year-on-year in June, compared with +1.0% expected.
On the other hand, China's exports rose 23.9% year-on-year in July, above 22.2% expected, and imports increased 27.5%, below 27.9% estimated.
Meanwhile, EUR/USD and GBP/USD were both little changed, at 1.1521 and 1.3451 respectively.
Gold edged up to 4,249 dollars.
Bitcoin was steady at 64,369 dollars.
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Germany's trade surplus for June is estimated at 17.4 billion euros, while industrial production is expected to grow 0.1% month-on-month.
France's jobless rate is anticipated to edge up to 8.2% in the second quarter, while trade deficit for June is estimated at 6.5 billion euros.
In the U.S., nonfarm payrolls are estimated to increase by 80,000 in July, while jobless rate is expected to be steady at 4.2%.
Canada's employment is estimated to increase by 21,000 in July, while jobless rate is anticipated to be unchanged at 6.5%.
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