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Market Wrap: Stocks, Bonds, Commodities |
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On Wednesday, major U.S. stock indexes closed higher though gains were trimmed at close, with the S&P 500 adding 38 points (+0.56%) to 6,881, and the Nasdaq 100 up 197 points (+0.80%) to 24,898.
The Dow Jones climbed 129 points (+0.26%) to 49,662.
Minutes of the Federal Reserve's last policy meeting showed that central-bank officials were not in a hurry to cut interest rates considering potentially sticky inflation.
Amazon (AMZN) gained 1.81% after Morgan Stanley reaffirmed an "overweight" rating on the stock, which is also the firm’s "Top GenAI Pick".
Other tech giants also closed higher, with Nvidia (NVDA) gaining 1.63%, and Microsoft (MSFT) up 0.69%.
Western Digital (WDC) surged 4.38%. The data storage firm sold 3.2 billion dollars worth of shares in Sandisk (SNDK), which closed 1.66% higher.
Micron (MU) jumped 5.30%.
Palo Alto Networks (PANW) fell 6.82%. The cybersecurity firm lowered its full-year earnings guidance.
Energy stocks outperformed the market, boosted by rallying oil prices, with Exxon Mobil (XOM) rising 3.07%, Chevron (CVX) up 1.84%, and ConocoPhillips (COP) up 1.60%.
The U.S. 10-year Treasury yield rebounded a further 2.1 basis points to 4.083%.
European stocks remained buoyed, with the DAX 40 rising 1.12%, the CAC 40 up 0.81%, and the FTSE 100 up 1.23%.
After declining for two sessions, gold rebounded 98 dollars (+2.00%) to 4,976 dollars an ounce.
U.S. WTI crude futures bounced 2.72 dollars (+4.36%) to 65.05 dollars a barrel. Oil prices were boosted by renewed geopolitical tensions, as talks between the U.S. and Iran, and between Russia and Ukraine, ended without a breakthrough.
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The U.S. dollar strengthened against other major currencies, with the dollar index rising to 97.72.
U.S. durable goods orders declined 1.4% month on month in December, and industrial production grew 0.7% month on month in January, both better than expected.
Also, U.S. housing starts increased 6.2% month on month in December, and building permits increased 4.3%, both exceeding expectations.
EUR/USD fell 67 pips to 1.1786.
USD/JPY jumped 153 pips to 154.81.
GBP/USD dropped 71 pips to 1.3496. The U.K. inflation rate slowed to 3.0% year on year in January from 3.4% in December.
AUD/USD slipped 44 pips to 0.7040.
USD/CHF advanced 29 pips to 0.7726, and USD/CAD was up 60 pips to 1.3695.
Bitcoin remained subdued, sliding nearly 2% to 66,200 dollars.
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In Asian trading hours, USD/JPY remained firm, trading higher to 154.90. Japan's data showed that machinery orders jumped 19.1% month on month in December, much faster than expected.
AUD/USD bounced to 0.7070. In Australia, an addition of 50,500 people got full-time employment in January, much more than expected.
EUR/USD edged higher to 1.1791, while GBP/USD was little changed at 1.3492.
U.S. WTI crude futures charged higher to 65.29 dollars a barrel, while gold dipped to 4,971 dollars.
Bitcoin was stable at 66,700 dollars.
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U.S. Philadelphia Fed manufacturing index is expected to fall to 7.0 in February.
U.S. trade deficit is expected to widen to 58.0 billion dollars in December.
Canada may record a higher trade deficit of 2.4 billion Canadian dollars in December.
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