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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, major U.S. indices were broadly under pressure amid renewed concerns over the scale of AI infrastructure spending and higher oil prices.
The Nasdaq 100 tumbled 863 points (-2.90%) to 28,958, and the S&P 500 dropped 93 points (-1.21%) to 7,663. The Dow Jones edged up 11 points (+0.02%) to 52,867.
The U.S. 10-year Treasury yield fell 15.8 basis points to 4.961%.
Regarding U.S. economic data, initial jobless claims came in at 194,000, below the 200,000 expected. The Leading Index was unchanged month-on-month in September, versus an expected decline of 0.1%.
Lockheed Martin (LMT) jumped 6.96% after the Pentagon signed a 10-year framework agreement covering 850 F-35 fighter jets for the U.S. military, along with additional aircraft for international customers.
Lam Research (LRCX) fell 11.76% after its December-quarter outlook disappointed investors, with supply constraints limiting near-term growth.
Moderna (MRNA) fell 17.57% as leaked Phase 3 melanoma vaccine data, showing a 42% cut in recurrence or death risk versus Keytruda alone, prompted sell-the-news profit-taking after a near-fourfold rally since August.
Blackstone (BX) jumped 8.38% after third-quarter profit beat expectations, supported by strong inflows that lifted assets under management to 1.37 trillion dollars.
Meta Platforms (META) fell 6.98% as surging AI infrastructure spending overshadowed stronger-than-expected third-quarter revenue and guidance.
Amazon (AMZN) fell 4.57% amid renewed focus on AI-driven restructuring, after the company previously announced plans to cut 16,000 corporate jobs.
In after-hours trading, Western Digital (WDC) reported fiscal first-quarter adjusted EPS of 4.64 dollars, above the 4.09 dollars expected. Bloom Energy (BE) reported third-quarter adjusted EPS of 0.94 dollars and raised its full-year 2026 revenue guidance to 4.4 - 4.6 billion dollars.
In Europe, the DAX 40 fell 1.07%, the CAC 40 dropped 1.39%, and the FTSE 100 declined 0.26%.
In the commodities market, spot gold dropped 118 dollars (-2.84%) to 4,023 dollars an ounce, hitting its lowest level in nearly three months. U.S. WTI crude oil futures (December) climbed 2.32 dollars (+2.39%) to 99.47 dollars a barrel.
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The U.S. dollar slipped, with the Dollar Index declining 0.13% to 101.65.
EUR/USD fell 20 pips (-0.18%) to 1.1212, and GBP/USD eased 2 pips (-0.01%) to 1.3392.
USD/JPY dropped 126 pips (-0.80%) to 156.87, and USD/CHF declined 34 pips (-0.41%) to 0.8210.
AUD/USD slipped 11 pips (-0.16%) to 0.7016.
USD/CAD declined 31 pips (-0.22%) to 1.4014 as Canada's Industrial Product Price Index rose 14.5% year-on-year in September, above the 14.1% expected.
Bitcoin dropped 3,301 dollars (-3.90%) to 81,334 dollars.
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In Asian trading hours, USD/JPY held near 156.96 after dipping to an intraday low of 156.08. Japan's core consumer price index rose to 2.1% year-on-year in September, meeting expectations and topping the Bank of Japan's 2% target for the first time this year.
EUR/USD was steady at 1.1212, while GBP/USD remained firm at 1.3396.
Spot gold edged lower to 4,019 dollars an ounce, having briefly dipped below 4,000 dollars.
Bitcoin edged up to 81,749 dollars.
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U.K. retail sales are expected to slip 0.1% month-on-month in September, while the S&P Global manufacturing purchasing managers index is projected to weaken to 51.7 in October.
The Eurozone S&P Global manufacturing purchasing managers index is expected to ease to 52.7 in October.
In the U.S., the S&P Global manufacturing purchasing managers index is expected to slip to 55.5 in October.
Canada's retail sales are expected to grow 0.3% month-on-month in September.
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