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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, U.S. stocks gained over 1%. The Dow Jones Industrial Average gained 534.75 points (+1.56%) to 34,912, the S&P 500 advanced 74.46 points (+1.71%) to 4,438, and the Nasdaq 100 surged 277.82 points (+1.88%) to 15,052.
Investors were encouraged by better-than-expected earnings reported by major companies. Also, the latest number of initial jobless claims fell to 293,000 (vs 320,000 expected), the lowest level since March 2020.
The semiconductors, transportation, and materials sectors were market leaders. Walgreens Boots Alliance (WBA) surged 7.43%, APA Corp (APA) jumped 6.54%, Bank of America (BAC) rose 4.47%, UnitedHealth Group (UNH) climbed 4.17%, and Paypal (PYPL) was up 3.94%.
The U.S. 10-year Treasury Yield dropped a further 2.8 basis points to 1.509%.
U.S. official data showed that September producer prices grew 0.5% on month (vs +0.6% expected) and 8.6% on year (vs +8.7% expected).
European stocks closed higher. The DAX 40 rose 1.40%, the CAC 40 gained 1.33%, and the FTSE 100 was up 0.92%.
U.S. WTI crude futures increased $1.04 (+1.29%) to $81.48 a barrel.
Gold price rose $3 to $1,796 an ounce. |
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The U.S. dollar index slipped to levels below the 94.00 level.
EUR/USD added 4 pips to 1.1598. In Germany, major economic-research institutes lowered their gross domestic growth forecast for 2021 to 2.4% from 3.7% previously, citing the persistence of bottlenecks in raw material supply.
GBP/USD gained 16 pips to 1.3675. In the UK, the Royal Institute of Chartered Surveyors House Price Index declined to 68 in September (vs 70 expected).
AUD/USD climbed 39 pips to 0.7418.
USD/JPY rebounded 43 pips to 113.68.
USD/CHF eased 6 pips to 0.9236, and USD/CAD dropped 72 pips to 1.2371.
Bitcoin was little changed at $57,500, while Ether jumped over 4% to $3,765. |
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In Asian trading hours, EUR/USD edged up to 1.1602 and GBP/USD climbed to 1.3682.
USD/JPY rose to 113.85.
Gold was broadly flat at $1,795.
Bitcoin advanced to $58,660. |
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The eurozone's August trade surplus is expected at 14.2 billion euros.
France's final readings of September consumer price index is estimated to be up 2.1% over year.
In the U.S., retail sales are expected to drop 0.2% over month in September, while October empire manufacturing index is estimated at 25.0. Also, October University of Michigan consumer sentiment index is expected at 73.0. |
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