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Market Wrap: Stocks, Bonds, Commodities |
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On Friday, major U.S. stock indexes closed higher, with the S&P 500 rebounding 33 points (+0.43%) to 7,674, the Nasdaq 100 up 95 points (+0.33%) to 29,308, and the Dow Jones up 517 points (+0.98%) to 53,277.
For the week, the S&P 500 retreated 1.43% and the Nasdaq 100 lost 2.45%, both halting a three-week rebound.
Tesla (TSLA) jumped 5.14%. Nevada regulators approved the electric-vehicle maker to expand commercial robotaxi operations across Clark County, including Las Vegas.
Robinhood Markets (HOOD) surged 13.70%, leading the S&P 500. Coinbase (COIN) advanced 8.20% and Strategy (MSTR) was up 6.10%. Bitcoin’s sharp rally continued, boosting related stocks.
Freeport-McMoRan (FCX) gained 7.64% and Southern Copper (SCCO) gapped up 8.69%, as benchmark copper futures stayed firm.
Moderna (MRNA) rebounded 8.86% after retreating over 23% on Thursday.
Meanwhile, semiconductor stocks closed lower, with Marvell Technology (MRVL) falling 5.57%, Arm Holdings (ARM) down 2.95%, and Intel (INTC) down 2.24%.
The U.S. 10-year Treasury yield rebounded for a second session, adding 2.8 basis points to 4.736%.
European stocks closed higher, with the DAX 40 rising 0.59%, the CAC 40 up 0.37%, and the FTSE 100 up 0.64%.
In early Asian trading hours on Monday, spot gold held at 4,614 dollars an ounce, around its 3-month high.
U.S. WTI crude futures eased slightly to 86.34 dollars a barrel.
U.S. Treasury Secretary Scott Bessent said he will on Monday unveil plans to economically isolate Iran and its trading partners. China, the top buyer of Iranian oil, is widely expected to feel the impact.
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In early Asian trading hours on Monday, the U.S. dollar remained subdued, as EUR/USD stayed buoyed at 1.1675, GBP/USD at 1.3643, and AUD/USD at 0.7170.
USD/JPY held at 158.95.
USD/CAD traded at 1.3795. After U.S.-Canada trade talks collapsed Friday, the Trump administration imposed 50% tariffs on Canadian products worth roughly 20 billion dollars Saturday. Canada said it will impose dollar-for-dollar retaliatory tariffs starting September 8.
Bitcoin marked a three-month high of 79,500 dollars on Friday before dipping back to 77,700 dollars over the weekend. It surged over 14,000 dollars or 23% for the week.
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In Asian trading hours, EUR/USD climbed to 1.1681 and GBP/USD edged up to 1.3648.
Meanwhile, USD/JPY eased to 158.89.
Gold extended its rally to 4,637 dollars.
Bitcoin slipped to 77,434 dollars.
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No major economic data expected.
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