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Market Wrap: Stocks, Bonds, Commodities |
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On Monday, major U.S. stock indexes closed mixed. The S&P 500 edged up 1 point (+0.02%) to 7,413, and the Dow Jones gained 262 points (+0.51%) to 52,210, while the Nasdaq 100 fell 89 points (-0.32%) to 28,039.
Apple (AAPL) gained 1.17% to mark a record closing level of 336.91. The tech giant reclaimed the title of the world’s most valuable public company with a market capitalization of 4.95 trillion dollars.
Semiconductor and chip-equipment stocks sold off sharply after reports of rapid development in China’s semiconductor sector. Chinese memory-chip maker CXMT Corp surged 466% in its Shanghai trading debut. And it was widely reported that China has begun mass production of domestic deep ultraviolet (DUV) lithography machines.
Nvidia (NVDA) fell 4.99%, Advanced Micro Devices (AMD) dropped 5.17%, and Micron (MU) was down 2.25%.
ASML Holding (ASML) slid 5.80%, Applied Materials (AMAT) declined 3.61%, and Lam Research (LRCX) was down 4.46%.
Also, Sandisk (SNDK) sank 11.02%, and Western Digital (WDC) was down 4.21%.
Energy stocks fell alongside oil prices, with APA Corp (APA) losing 3.90%, Conocophillips (COP) down 3.89%, and Chevron (CVX) down 2.46%.
Software stocks rebounded, with Palantir (PLTR) rising 7.00%, ServiceNow (NOW) up 6.86%, and Salesforce (CRM) up 6.07%.
The U.S. 10-year Treasury yield declined a further 3.4 basis points to 4.647%.
European stocks remained buoyed, with the DAX 40 closing 1.04% higher, the CAC 40 up 0.40%, and the FTSE 100 up 0.42%.
Oil prices dropped sharply following a pause in attacks between the U.S. and Iran. U.S. WTI crude futures tumbled 6.70 dollars (-7.50%) to 82.61 dollars a barrel.
Gold price added 23 dollars to 4,076 dollars an ounce.
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The U.S. dollar managed to pare weakness during the session. EUR/USD was largely flat at 1.1368, while USD/JPY eased 13 pips to 163.71.
U.S. durable goods orders rose 0.3% month-on-month in June, far slower than the 2.2% growth expected.
Germany's Ifo business climate index climbed to 86.6 in July (vs 85.9 expected, 85.6 in June).
GBP/USD slipped 32 pips to 1.3287, while AUD/USD added 9 pips to 0.6988.
USD/CAD climbed 31 pips to 1.4123.
Bitcoin dropped below 64,000 dollars.
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In Asian trading hours, EUR/USD climbed to 1.1378 and GBP/USD edged up to 1.3298.
Meanwhile, USD/JPY was little changed at 163.70.
Gold dropped to 4,043 dollars.
Bitcoin fell to 63,120 dollars.
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In the U.S., the Conference Board consumer confidence index is expected to climb to 92.2 in July, while the Richmond Fed manufacturing index is estimated to bounce to 10.
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