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Market Wrap: Stocks, Bonds, Commodities |
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On Wednesday, major U.S. stock indexes closed mixed. The S&P 500 gained 28 points (+0.38%) to 7,572, and the Dow Jones was up 150 points (+0.29%) to 52,658, while the Nasdaq 100 fell 83 points (-0.28%) to 29,502.
U.S. data further pointed to easing inflation, as the producer price growth slowed to 5.5% year-on-year in June, lower than expected.
The U.S. 10-year Treasury yield retreated another 3.8 basis points to 4.549%.
Mega-cap tech stocks performed well, with Apple (AAPL) rising 4.01%, Alphabet (GOOGL) up 3.17% and Microsoft (MSFT) up 2.78%.
ASML Holding (ASML) climbed 2.23%. The producer of chip-making equipment raised its 2026 revenue outlook and outlined plans to expand production capacity.
However, semiconductor and data-storage stocks came under heavy pressure, with Micron (MU) sliding 8.02%, Marvell Technology (MRVL) down 7.27% and Sandisk (SNDK) down 8.12%.
PayPal (PYPL) surged 17.20%. Reuters reported that Stripe and private equity firm Advent International jointly bid for the company for 60.50 dollars per share, valuing it at more than 53 billion dollars.
After reporting quarterly results, BlackRock (BLK) jumped 6.63%, Bank of New York Mellon (BNY) gained 5.08%, while Johnson & Johnson (JNJ) fell 2.69%.
In Europe, the DAX 40 fell 0.59%, and the FTSE 100 dropped 0.13%, while the CAC 40 added 0.19%.
U.S. WTI crude futures edged up 26 cents to 79.60 dollars a barrel, posting a three-session rally.
Gold added 7 dollars to 4,060 dollars an ounce.
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The U.S. dollar weakened further as producer price data reinforced signs of easing inflation.
EUR/USD rose 44 pips to 1.1463, while USD/JPY fell 7 pips to 162.18.
GBP/USD jumped 148 pips (+1.11%) to 1.3537, a two-month high. In the U.K., it is widely expected that Andy Burnham will become the new Labour party leader and prime minister.
USD/CAD slipped 12 pips to 1.4043. As expected, Canada’s central bank held its key interest rate steady at 2.25%.
Bitcoin remained firm, attempting to push above 65,000 dollars.
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In Asian trading hours, EUR/USD was steady at 1.1464, while GBP/USD eased to 1.3524.
Meanwhile, USD/JPY slipped to 162.09.
Gold dropped to 4,033 dollars.
Bitcoin was down slightly to 64,622 dollars.
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U.K. gross domestic product is expected to grow 0.1% month-on-month in May.
The eurozone's trade surplus for May is estimated at 6.5 billion euros.
In the U.S., retail sales are expected to increase by 0.2% month-on-month in June, while the Philadelphia Fed manufacturing index is anticipated to climb to 11.0 in July and the weekly initial jobless claims are estimated at 216,000.
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