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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, major U.S. stock indexes narrowed gains at close:
Dow Jones +292 points (+0.6%) to 49,442
S&P 500 +17 points (+0.26%) to 6,944
Nasdaq 100 +81 points (+0.32%) to 25,547
Financial stocks rebounded following better-than-expected quarterly results:
BlackRock (BLK) (+5.93%)
Morgan Stanley (MS) (+5.78%)
Goldman Sachs (GS) (+4.63%)
The U.S. and Taiwan reached a trade deal, according to which the U.S. will cut tariffs on semiconductor imports from Taiwan, and Taiwanese firms will invest 250 billion dollars in chip-production in the U.S.
Taiwan Semiconductor Manufacturing (TSM) and major makers of chip-production equipment were buoyed by the news:
Taiwan Semiconductor Manufacturing (TSM) (+4.44%)
Applied Materials (AMAT) (+5.69%)
Lam Research (LRCX) (+4.16%)
KLA Corp (KLAC) (+7.70%)
Eli Lilly (LLY) (-3.76%). The U.S. Food and Drug Administration has delayed a review decision on drug-maker's new weight-loss medication.
Boston Scientific (BSX) announced its acquisition of thrombectomy firm Penumbra (PEN) for 14.5 billion dollars:
Boston Scientific (BSX) (-3.96%)
Penumbra (PEN) (+11.82%)
The U.S. 10-year Treasury yield -3.3 basis point to 4.171%.
European stock markets closed mixed:
DAX 40 +0.26%
CAC 40 -0.21%
FTSE 100 +0.54%
Gold price eased from its all-time high, trading at 4,616 dollars an ounce.
U.S. WTI crude futures -2.94 dollars (-4.74%) to 59.08 dollars a barrel, halting a five-session winning streak.
Some comments by U.S. President Donald Trump on Iran helped to alleviate concerns of a potential U.S. military action against the oil-producing country that is seeing wide-spreading domestic protests.
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The U.S. dollar rose against other major currencies, with the dollar index climbing to 99.36.
Regarding U.S. economic data, the Philadelphia Fed manufacturing index rose to 12.6 in January (vs -4.0 expected, -8.8 in December).
The New York Empire State manufacturing index rose to 7.7 in January (vs 1.0 expected, -3.7 in December).
EUR/USD -35 pips to a 6-week low at 1.1607. The Eurozone's industrial production +0.7% month on month in November, higher than expected.
USD/JPY +20 pips to 158.63.
GBP/USD -58 pips to 1.3380. The U.K.'s gross domestic product +0.3% month on month in November (vs -0.1% in October).
USD/CHF +33 pips to 0.8031.
AUD/USD +17 pips to 0.6697.
Bitcoin retreated over 1% to levels below 96,000 dollars.
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In Asian trading hours, EUR/USD and GBP/USD both remained subdued, at 1.1608 and 1.3384 respectively.
Meanwhile, USD/JPY retreated to 158.20. Japanese Finance Minister Satsuki Katayama said the government would not rule out any options on yen.
Gold eased to 4,601 dollars.
Bitcoin was little changed at 95,463 dollars.
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In the U.S., industrial production is estimated to grow 0.3% month-on-month in December.
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