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Market Wrap: Stocks, Bonds, Commodities |
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On Tuesday, the Nasdaq 100 edged up 62 points (+0.21%) to 30,339, while the S&P 500 dipped 12 points (-0.17%) to 7,670 and the Dow Jones declined 131 points (-0.26%) to 51,349, with both falling for a second straight session.
The U.S. 10-year Treasury yield held at 5.236%, hovering around its highest levels since 2007. The 30-year Treasury bond yield hit a high above 5.6%, reaching levels not seen since 2002.
Meanwhile, U.S. WTI crude futures dropped 3.22 dollars (-3.48%) to 89.38 dollars a barrel.
Among mega-caps, Meta Platforms (META) rebounded 3.24%, while Apple (AAPL) fell 2.66% and Tesla (TSLA) was down 1.29%.
Most semiconductor stocks closed higher, with Applied Materials (AMAT) gaining 5.19%, Marvell Technology (MRVL) up 4.51%, Broadcom (AVGO) up 1.58%, and Micron Technology (MU) up 1.05%.
Bloom Energy (BE) jumped 10.80% after Jefferies raised its price target on the fuel-cell maker.
Oracle (ORCL) gained 3.91% after launching its Fusion Claw agentic application.
Carnival (CCL) surged 13.41% after the cruise operator reported record third-quarter revenue and raised its full-year outlook. Royal Caribbean Cruises (RCL) rose 7.45%, and Norwegian Cruise Line Holdings (NCLH) added 3.42%.
Fair Isaac (FICO) plunged 26.52% after U.S. federal housing authorities proposed a measure that would introduce competition to its credit-scoring business in mortgage pricing.
In Europe, the DAX 40 edged up 0.10%, while the CAC 40 fell 0.53% and the FTSE 100 was down 0.45%.
Spot gold rebounded 67 dollars (+1.63%) to 4,182 dollars an ounce.
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The U.S. dollar stayed firm as Treasury yields held near multi-year highs, with EUR/USD slipping 30 pips to 1.1341, and GBP/USD falling 23 pips to 1.3231.
USD/JPY eased 8 pips to 157.30.
The U.S. Conference Board Consumer Confidence Index dropped to 81.9 in September, its lowest level since 2014.
The U.S. Labor Department reported that JOLTS job openings fell to 7.08 million in August, lower than expected.
Closely watched U.S. personal consumption expenditures price inflation data will be released later today.
AUD/USD slid 33 pips to 0.6986.
USD/CHF rose 18 pips to 0.8339, and USD/CAD added 15 pips to 1.4189.
Bitcoin was little changed at 83,500 dollars.
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In Asian trading hours, AUD/USD dropped to 0.6965. Australia's inflation rate accelerated to 4.0% year-on-year in August (vs 4.1% estimated).
On the other hand, China's official Manufacturing Purchasing Managers Index climbed to 50.1 in September as expected, while the RatingDog Manufacturing Purchasing Managers Index rose to 52.1 (vs 51.6 anticipated).
Meanwhile, USD/JPY retreated to 156.43. Japan's industrial production dropped 1.7% month-on-month in August (vs +1.7% expected), and retail sales fell 1.2% (vs -1.0% estimated).
EUR/USD and GBP/USD both remained subdued, at 1.1339 and 1.3228 respectively.
Gold fell to 4,174 dollars.
Bitcoin was relatively steady at 83,372 dollars.
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Germany's retail sales are estimated to grow 1.5% month-on-month in August. Also, the jobless rate is anticipated to be unchanged at 6.4% in September, while the inflation rate is expected to advance to 3.2% year-on-year.
France's inflation rate is expected to climb to 2.8% year-on-year in September, while the producer price index is estimated to be up 4.1% year-on-year in August.
In the U.S., ADP employment is estimated to increase by 70,000 in September, and the Chicago Purchasing Managers Index is expected to bounce to 51.2. Meanwhile, the core personal consumption expenditures price index is expected to hold at 3.3% year-on-year in August, while the final estimate for second-quarter gross domestic product is estimated to grow 1.5% quarter-on-quarter annualized.
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