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Market Wrap: Stocks, Bonds, Commodities |
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On Monday, major U.S. stock indexes closed in the red, with the S&P 500 falling 59 points (-0.77%) to 7,683, the Nasdaq 100 down 331 points (-1.08%) to 30,276, and the Dow Jones down 347 points (-0.67%) to 51,481.
U.S. WTI crude futures jumped as much as about 4 dollars to 96.54 dollars a barrel before paring gains to trade near 92.60 dollars.
The U.S. 10-year Treasury yield climbed 6.9 basis points to 5.236%.
While U.S. President Donald Trump rejected a ceasefire proposal by Iran, reports said Qatari mediators are likely to hold separate talks with U.S. and Iranian officials in a fresh push to end the war.
Nvidia (NVDA) rose 1.68% after the chipmaker authorized an additional 150 billion dollars in share buybacks, lifting its total authorized amount to 235 billion dollars through fiscal 2028.
Meanwhile, other mega-caps came under pressure, with Meta Platforms (META) dropping 4.79%, Tesla (TSLA) down 3.94%, Amazon (AMZN) down 1.41%, and Microsoft (MSFT) down 1.35%.
Most semiconductor stocks retreated, with Arm Holdings (ARM) sinking 8.70%, Qualcomm (QCOM) down 7.17%, Intel (INTC) down 5.67%, Advanced Micro Devices (AMD) down 3.61%, and Micron Technology (MU) down 2.61%.
Cybersecurity firms performed well, with Palo Alto Networks (PANW) rising 4.63%, Okta (OKTA) up 3.58%, and CrowdStrike (CRWD) up 2.82%.
Boeing (BA) lost 6.91% after the U.S. Federal Aviation Administration delayed certification of the company’s 737 MAX 10 aircraft due to a landing-guidance software issue.
Roblox (RBLX) tumbled 9.86% after being downgraded by Jefferies to "underperform".
MongoDB (MDB) plunged 18.46% after CEO Chirantan "CJ" Desai stepped down to lead Meta’s enterprise artificial intelligence platform, with former CEO Dev Ittycheria returning as interim chief.
In Europe, the DAX 40 edged down 0.13% and the FTSE 100 dipped 0.10%, while the CAC 40 was largely flat at the close.
Spot gold slid 169 dollars (-3.95%) to 4,115 dollars an ounce, its lowest level since early August.
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Against the backdrop of rallying Treasury yields, the U.S. dollar was broadly firm, with EUR/USD declining 19 pips to 1.1371, USD/CHF jumping 37 pips to 0.8321, and USD/CAD up 33 pips to 1.4174.
USD/JPY added 8 pips to 157.36, and GBP/USD edged 10 pips higher to 1.3254.
AUD/USD eased 8 pips to 0.7017.
Bitcoin lost traction, slipping more than 1% to 83,200 dollars.
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In Asian trading hours, AUD/USD was relatively stable at 0.7020. The Reserve Bank of Australia raised its benchmark rate by 25 basis points to 4.60% as expected.
Meanwhile, EUR/USD fell to 1.1366, and GBP/USD slipped to 1.3248.
USD/JPY was little changed at 157.32.
Gold rebounded to 4,135 dollars.
Bitcoin traded lower at 82,902 dollars.
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In the U.S., the Conference Board Consumer Confidence Index is expected to climb to 90.0 in September, while JOLTS job openings are estimated at 7.24 million.
Canada's gross domestic product is estimated to be flat month-on-month in July.
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