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Market Wrap: Stocks, Bonds, Commodities |
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On Monday, the Dow Jones rose 195 points (+0.38%) to 51,850, while the S&P 500 dipped 4 points (-0.06%) to 7,807 and the Nasdaq 100 fell 218 points (-0.71%) to 30,664.
Meta Platforms (META) jumped 3.38% after unveiling Muse Wonder, its latest frontier AI model for personal and professional agents.
Apple (AAPL) rose 1.29% and Microsoft (MSFT) gained 1.14%, while Nvidia (NVDA) fell 1.29%, Amazon (AMZN) dropped 1.11%, and Tesla (TSLA) slipped 1.22%.
Semiconductor and data-storage stocks sold off after China's CXMT announced progress on next-generation DRAM architecture, with SanDisk (SNDK) falling 5.97%, Micron Technology (MU) down 3.88%, Intel (INTC) down 3.20%, and Advanced Micro Devices (AMD) down 2.28%.
Optical and AI infrastructure names reversed Friday's bounce, with Ciena (CIEN) tumbling 9.95%, Lumentum (LITE) down 9.78%, and Coherent (COHR) down 7.87%.
Energy stocks advanced alongside oil prices, with ConocoPhillips (COP) rising 2.58%, ExxonMobil (XOM) up 1.90%, and Chevron (CVX) up 1.42%.
eBay (EBAY) gained 2.19% as strong growth in livestream shopping continued to support higher sales activity and strengthen the company's growth outlook.
Salesforce (CRM) rose 2.09% after Bank of America double-upgraded the software company to "buy" from "underperform".
This week's U.S. corporate calendar turns quickly to bank earnings, with JPMorgan Chase (JPM), Goldman Sachs (GS), Wells Fargo (WFC), and Citigroup (C) reporting quarterly results on Tuesday.
The U.S. Treasury market was closed on Monday for the Columbus Day holiday.
European stocks closed higher, with the DAX 40 rising 0.76%, the CAC 40 up 0.38%, and the FTSE 100 up 0.99%.
U.S. WTI crude futures climbed 1.89 dollars (+2.06%) to 93.74 dollars a barrel, posting a three-session rally. Oil extended gains despite Trump’s announcement of a Russia-Ukraine energy ceasefire and Russian diesel exports, as attacks on Saudi Arabia by Iran-backed Houthi militants fueled supply concerns.
Spot gold declined 23 dollars to 4,171 dollars an ounce.
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The U.S. dollar kept its strength, with the Dollar Index rising to an 18-month high. Cleveland Fed President Beth Hammack said that the Federal Reserve should move relatively quickly to a restrictive policy stance to control broad-based inflation.
Investors are awaiting key U.S. inflation data due on Wednesday.
EUR/USD fell 43 pips to 1.1154, while USD/JPY advanced 30 pips to 158.56.
GBP/USD eased 17 pips to 1.3207, and AUD/USD declined 21 pips to 0.6958.
USD/CHF rose 52 pips to 0.8346, and USD/CAD advanced 28 pips to 1.4280.
Bitcoin slipped over 1% to 82,300 dollars.
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In Asian trading hours, USD/JPY retreated to 158.22. Japan's producer price index rose 6.8% year-on-year in September (vs +7.6% expected).
Meanwhile, AUD/USD was little changed at 0.6959. Australia's NAB Business Confidence Index dropped to -13 in September (vs -9 estimated).
EUR/USD rebounded to 1.1177, and GBP/USD climbed to 1.3221.
Gold edged up to 4,179 dollars.
Bitcoin traded slightly higher at 82,920 dollars.
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In the U.S., existing home sales are projected to drop 0.3% month-on-month in September.
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