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Market Wrap: Stocks, Bonds, Commodities |
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On Tuesday, major U.S. stock indexes were led higher by technology stocks, with the Nasdaq 100 rising 268 points (+1.09%) to 24,977, and the S&P 500 up 52 points (+0.77%) to 6,890.
The Dow Jones gained 370 points (+0.76%) to 49,174.
U.S. President Donald Trump is scheduled to deliver his official State of the Union address in Congress on Tuesday evening.
Most tech giants closed higher, with Apple (AAPL) rising 2.24%, Microsoft (MSFT) up 1.18%, Amazon (AMZN) up 1.60%, and Tesla (TSLA) up 2.39%.
Nvidia (NVDA) added 0.68%. The maker of artificial-intelligence-related (AI) chips will report quarterly results on Wednesday after the bell.
Advanced Micro Devices (AMD) jumped 8.77%, and Meta (META) was up 0.32%. Meta has agreed to acquire customised chips with a total capacity of 6 gigawatts from AMD to develop its AI models. The deal is valued over 100 billion dollars, and could result in Meta owning a 10% stake in AMD.
Intel (INTC) rebounded 5.71%, and Taiwan Semiconductor Manufacturing (TSM) climbed 4.25%.
International Business Machines (IBM) traded 2.67% higher after plunging over 13% in the prior session.
Corning (GLW) charged 4.36% higher, posting a three-session winning streak.
Airline stocks rebounded, with United Airlines (UAL) gaining 5.06%, America Airlines (AAL) up 1.70%, and Delta Air Lines (DAL) up 3.51%.
The U.S. 10-year Treasury yield stayed under pressure at 4.037%
In Europe, the CAC 40 gained 0.26% to mark a record-high closing level of 8,519.
Meanwhile, the DAX 40 edged 0.02% lower, and the FTSE 100 dipped 0.04%.
Gold ended a four-session rally, retreating 85 dollars (-1.63%) to 5,143 dollars an ounce.
U.S. WTI crude futures declined 68 cents (-1.03%) to 65.63 dollars a barrel.
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The U.S. dollar turned stable, with the dollar index adding 0.17 point to 97.87.
The U.S. Conference Board consumer confidence index advanced to 91.2 in February, higher than expected.
The U.S. Richmond Fed manufacturing index fell to -10 in February, lower than expected.
EUR/USD dropped 11 pips to 1.1773.
USD/JPY rose 127 pips to 155.89.
GBP/USD was little changed at 1.3489, while AUD/USD added 3 pips to 0.7056.
USD/CHF slipped 7 pips to 0.7739, while USD/CAD added 6 pips to 1.3700.
Bitcoin remained subdued, once breaking below the level of 63,000 dollars.
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In Asian trading hours, AUD/USD bounced to 0.7084. Australia's inflation rate stayed at 3.8% year-on-year in January, above 3.7% estimated.
Meanwhile, EUR/USD edged up to 1.1782 and GBP/USD advanced to 1.3508.
USD/JPY eased to 155.65.
Gold rebounded to 5,187 dollars.
Bitcoin climbed to 66,132 dollars.
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Germany's GfK consumer confidence index is expected to improve to -23.8 in March.
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