|
| |
Market Wrap: Stocks, Bonds, Commodities |
|
|
| |
|
|
|
| |
On Tuesday, U.S. stocks came under increased pressure, with the S&P 500 falling 54 points (-0.71%) to 7,631, the Nasdaq 100 down 379 points (-1.29%) to 29,077, and the Dow Jones down 419 points (-0.79%) to 52,766.
Escalating hostilities between the U.S. and Iran sent U.S. WTI crude futures jumping 4.46 dollars (+5.20%) to 90.22 dollars a barrel, marking their first close above 90 dollars in more than a month.
Broadly higher government bond yields also rattled investor sentiment. The U.S. 10-year Treasury yield advanced for a fifth straight session, reaching 4.796%, its highest level since January 2025. Meanwhile, Japan's 10-year government bond yield reached 3% for the first time since 1996.
Mega-cap tech stocks largely underperformed, with Tesla (TSLA) falling 3.22%, Amazon (AMZN) down 1.87%, and Nvidia (NVDA) down 1.51%.
However, Apple (AAPL) gained 2.61% as John Ternus succeeded Tim Cook as chief executive.
Nike (NKE) gapped down 2.41%, marking a 52-week low.
Interactive Brokers (IBKR) slid 7.09%. The online brokerage and trading platform reported declining trading activity for August.
Boosted by rallying oil prices, energy stocks continued to outperform the market, with ConocoPhillips (COP) gaining 2.79%, APA Corp (APA) up 2.67%, and Marathon Petroleum Corp (MPC) up 2.59%.
Dell Technologies (DELL) closed 6.80% lower, but rebounded 7% in after-market hours. The company posted better-than-expected second-quarter results and raised its full-year guidance, citing strong demand for AI-optimized servers.
Palo Alto Networks (PANW) closed 5.24% lower and declined a further 2% in after-market hours despite an earnings beat and positive future revenue projections.
European stocks also finished lower, with the DAX 40 dropping 1.10%, the CAC 40 down 0.39%, and the FTSE 100 down 0.32%.
Spot gold encountered increased selling pressure, sliding 119 dollars (-2.68%) to 4,329 dollars an ounce.
|
| |
|
|
|
|
|
|
|
|
| |
The U.S. dollar regained strength, with EUR/USD falling 28 pips to 1.1588 and GBP/USD down 39 pips to 1.3508.
USD/JPY rebounded above the key 160 level. The yen has now retraced more than half its gains from the joint U.S.-Japan currency intervention in late July.
The U.S. Labor Department reported that the number of job openings increased to 7.27 million in July, slightly lower than expected.
The U.S. Institute for Supply Management (ISM) Manufacturing Index eased to 54.6 in August (vs 55.2 expected and 55.6 in July).
The Eurozone’s inflation rate accelerated to 3.3% year-on-year in August, in line with expectations.
AUD/USD fell 24 pips to 0.7142, while USD/CHF advanced 34 pips to 0.8115.
USD/CAD rose 42 pips to 1.3896 ahead of the Bank of Canada's monetary policy decision.
Bitcoin declined alongside risk assets, dropping nearly 2% to 77,100 dollars.
|
| |
|
|
|
|
|
|
|
|
| |
In Asian trading hours, AUD/USD was broadly flat at 0.7142. Australia's gross domestic product grew 2.1% year-on-year in the second quarter, above the 1.8% estimated.
On the other hand, NZD/USD dropped to 0.5854. The Reserve Bank of New Zealand raised its Official Cash Rate by 25 basis points to 2.75% as expected.
Meanwhile, EUR/USD fell to 1.1582 and GBP/USD stayed subdued at 1.3507.
USD/JPY remained firm at 160.26.
Gold declined to 4,312 dollars.
Bitcoin remained under pressure at 77,132 dollars.
|
| |
|
|
|
|
|
|
|
|
| |
In the U.S., ADP Employment Change is estimated to increase by 48,000 in August, while factory orders are expected to grow 0.7% month-on-month in July.
The Bank of Canada is expected to keep its benchmark rate unchanged at 2.25%.
|
| |
|
|
|
|
|
