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Market Wrap: Stocks, Bonds, Commodities |
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On Tuesday, the S&P 500 rebounded 65 points (+0.89%) to 7,509, halting a three-session losing streak. The Nasdaq 100 climbed 550 points (+1.93%) to 29,155, and the Dow Jones gained 385 points (+0.74%) to 52,224.
Semiconductor stocks rallied across the board, with Micron (MU) bouncing 12.17%, Intel (INTC) up 8.64%, and Advanced Micro Devices (AMD) up 8.11%.
Nvidia (NVDA) climbed 1.97%, Broadcom (AVGO) gained 2.21%, and Marvell Technology (MRVL) was up 6.68%.
Data-storage stocks also performed well, with Sandisk (SNDK) jumping 14.27%, Western Digital (WDC) up 12.51%, and Seagate Technology (STX) up 11.14%.
Tesla (TSLA) advanced 2.53%, while Alphabet (GOOGL) fell 1.38%. Both companies will report earnings in after-market hours on Wednesday.
General Motors (GM) added 4.91% and 3M Company (MMM) was up 7.32%. Both companies raised their full-year earning guidance.
After reporting quarterly earnings, Danaher (DHR) fell 10.99%, Schwab (SCHW) dropped 2.52%, and Halliburton (HAL) was down 5.47%.
Nebius (NBIS) surged 18.78% after Nvidia disclosed a 9.3% stake in the neocloud computing firm.
The U.S. 10-year Treasury yield advanced another 3.2 basis points to 4.626%.
European stocks also closed higher, with the DAX 40 rising 0.66%, the CAC 40 up 0.28%, and the FTSE 100 up 0.58%.
U.S. WTI crude futures increased 1.86 dollars (+2.26%) to 84.34 dollars a barrel, a five-week high. The U.S. and Iran continued to exchange attacks in the Middle East.
Gold gained 69 dollars (+1.73%) to 4,077 dollars an ounce.
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The U.S. dollar kept strengthening, with the dollar index crossing above 101 and posting a four-session rally.
USD/JPY ran up to 163.24, its highest level since 1986.
EUR/USD fell 16 pips to 1.1398. Germany’s ZEW economic sentiment index rose to 23.4 in July, much higher than expected.
GBP/USD slipped 53 pips to 1.3375. In the U.K., the latest jobless rate remained stable at 4.9% (vs 5.0% expected).
USD/CHF climbed 28 pips to 0.8126, and USD/CAD was up 35 pips to 1.4104.
Bitcoin kept its upward momentum, surpassing 66,000 dollars.
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In Asian trading hours, USD/JPY eased to 163.10. Japan's exports rose 19.3% year-on-year in June, above 18.6% expected.
Meanwhile, EUR/USD rebounded to 1.1406 and GBP/USD edged up to 1.3386.
Gold bounced to 4,128 dollars.
Bitcoin was firm at 66,277 dollars.
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U.K. inflation is expected to ease to 2.7% year-on-year in June.
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