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Market Wrap: Stocks, Bonds, Commodities |
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On Wednesday, major U.S. stock indexes eased further:
Dow Jones -42 points (-0.09%) to 49,149
S&P 500 -37 points (-0.53%) to 6,926
Nasdaq 100 -276 points (-1.07%) to 25,465
Major tech stocks fell:
Microsoft (MSFT) (-2.40%)
Meta (META) (-2.47%)
Amazon (AMZN) (-2.45%)
Tesla (TSLA) (-1.79%)
Nvidia (NVDA) (-1.44%)
Intel (INTC) (+3.02%) after gaining 7% in the prior session.
Advanced Micro Devices (AMD) +1.19% following a 6% increase Tuesday.
Other chip stocks closed lower:
Broadcom (AVGO) (-4.15%)
Micron (MU) (-1.41%)
Bank stocks remained under pressure:
Wells Fargo (WFC) (-4.61%)
Bank of America (BAC) (-3.78%)
Citigroup (C) (-3.34%)
Energy stocks advanced alongside oil prices:
ConocoPhillips (COP) (+4.02%)
APA Corp (APA) (+3.77%)
Devon Energy (DVN) (+2.93%)
Oil prices remained buoyed by fears of a potential U.S. attack on Iran and disruptions in Iranian oil supply. U.S. WTI crude futures +0.87 dollars (+1.42%) to 62.02 dollars a barrel, posting a five-session winning streak.
The U.S. 10-year Treasury yield -3.7 basis point to 4.138%.
Major European stock indexes closed mixed:
DAX 40 -0.53%
CAC 40 -0.19%
FTSE 100 +0.46%
Gold ran up to an all-time high of 4,643 dollars an ounce, and silver marked a record of 93.51 dollars an ounce.
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The U.S. dollar index -0.11 point to 99.06.
U.S. producer prices +3.0% year on year in November (vs +2.6% expected, +2.8% in October).
U.S. retail sales +0.6% month on month in November (vs +0.3% expected, -0.1% in October).
EUR/USD -2 pips to 1.1644.
USD/JPY -67 pips to 158.44, snapping a 6-day rally. The secretary general of Japan's ruling Liberal Democratic Party said the prime minister will dissolve parliament next week and call a snap election.
Meanwhile, Japan's Nikkei 225 marked a record close above the level of 54,000.
GBP/USD +24 pips to 1.3444, AUD/USD was flat at 0.6683.
USD/CHF -7 pips to 0.8001, and USD/CAD -7 pips to 1.3880.
Bitcoin kept showing upward momentum, jumping to levels above 97,000 dollars, which were last seen in November.
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In Asian trading hours, USD/JPY edged up to 158.55. Japan's producer price index eased to 2.4% year-on-year in December, below 2.5% expected.
Meanwhile, EUR/USD was broadly flat at 1.1640 while GBP/USD fell to 1.3430.
Gold retreated to 4,599 dollars.
Bitcoin eased to 96,337 dollars.
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The eurozone's industrial production is expected to increase by 0.2% month-on-month in November.
Germany's 2025 gross domestic product for is estimated to be up 0.2%.
U.K. gross domestic product is expected to drop 0.1% month-on-month in November, while industrial production is expected to slip 0.3%.
In the U.S., the Empire State manufacturing index is estimated to climb to 1.0 in January and the Philadelphia Fed manufacturing index is expected to improve to -8.0. Also, the weekly initial jobless claims are estimated at 212,000.
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