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Market Wrap: Stocks, Bonds, Commodities |
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On Friday, both the S&P 500 (up 61 points or 0.84% to 7,398) and Nasdaq 100 (up 671 points or 2.35% to 29,234) returned to the upside marking fresh record closing levels.
The Dow Jones edged up 12 points (+0.02%) to 49,609.
The U.S. official jobs report showed an addition of 115,000 non-farm payrolls in April (vs +95,000 expected, +185,000 in March) with a stable jobless rate of 4.3%.
Intel (INTC) surged 13.93% and Apple (AAPL) rose 2.02%. The Wall Street Journal reported that Intel has agreed to make some chips for Apple devices.
Micron (MU) jumped 15.49% and SanDisk (SNDK) bounced 16.60%, both marking all-time highs.
Advanced Micro Devices (AMD) also gained 11.44%.
Moderna (MRNA) surged 11.97% on expectations that the biotech firm could develop vaccines to deal with the Hantavirus outbreak.
After reporting quarterly results, Akamai Technologies (AKAM) soared 26.58%, while CoreWeave (CRWV) slid 11.40%.
The U.S. 10-year Treasury yield declined 2.4 basis points to 4.360%.
European stocks stayed under pressure, with the DAX 40 falling 1.32%, the CAC 40 down 1.09%, and the FTSE 100 down 0.43%.
On Sunday, U.S. President Donald Trump rejected Iran’s counterproposal to end the U.S.-Iran war.
In early Asian trading hours on Monday, U.S. WTI crude futures gained over 2% to 98 dollars a barrel, while gold slipped 35 dollars to 4,696 dollars an ounce.
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In early Asian trading hours on Monday, the U.S. dollar traded higher, as Trump's rejection of Iran’s counterproposal added to geopolitical uncertainty. The dollar index climbed back to 98.
EUR/USD declined 23 pips to 1.1763.
USD/JPY climbed 21 pips to 156.89.
GBP/USD retreated 45 pips to 1.3585. U.K. ruling Labour party suffered major losses in local elections held across Britain, while the Reform UK party made big gains.
AUD/USD slipped 13 pips to 0.7233.
USD/CAD added 11 pips to 1.3688. Canada's data showed that the number of people with full-time employment fell by 46,700 in April (vs +18,000 expected), with the jobless rate rising to 6.9%.
Gold slipped 35 dollars to 4,696 dollars an ounce.
Bitcoin showed upward momentum, challenging the level of 82,000 dollars.
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In Asian trading hours, U.S. crude futures climbed further to levels above 99 dollars a barrel.
The U.S. dollar still held firm, with USD/JPY advancing to 157.14.
EUR/USD traded at 1.1761, GBP/USD at 1.3593, and AUD/USD at 0.7231.
China's inflation rate accelerated to 1.2% year on year in April, higher than expected.
Gold eased further to 4,684 dollars an ounce.
Bitcoin retreated to 81,200 dollars.
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U.S. existing home sales are expected to increase 2.1% month on month in April.
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