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Market Wrap: Stocks, Bonds, Commodities |
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On Wednesday, major U.S. stock indexes kept trying to climb away from their recent lows, with the S&P 500 gaining 35 points (+0.54%) to 6,591, and the Nasdaq 100 up 160 points (+0.67%) to 24,162.
The Dow Jones rose 305 points (+0.66%) to 46,429.
U.S. President Donald Trump said both the U.S. and Iran are in negotiations right now, adding that Iran is eager to make a peace deal.
Meanwhile, Iran said it is reviewing a U.S. proposal to end the conflict.
U.S. crude-oil futures declined 2.03 dollars (-2.20%) to 90.32 dollars a barrel.
Arm Holdings (ARM) surged 16.38%. The company’s chief executive officer said its new data-center chip would generate about 15 billion dollars in annual revenue in five years.
At the same time, Intel (INTC) jumped 7.08% and Advanced Micro Devices (AMD) was up 7.26%.
Meanwhile, Micron (MU) fell 3.40%, and Sandisk (SNDK) dropped 3.50%.
Space-sector stocks jumped on news SpaceX preparing an initial public offering, with Echostar (SATS) rising 7.43%, Rocket Lab (RKLB) up 10.31%, and AST Space Mobile (ASTS) up 10.44%.
Robinhood (HOOD) jumped 5.01% after authorizing a 1.5-billion-dollar share buyback program.
The U.S. 10-year Treasury yield retreated 3.6 basis points to 4.332%.
European stocks were broadly higher, with the DAX 40 rising 1.41%, the CAC 40 up 1.33%, and the FTSE 100 up 1.42%.
Gold rebounded for a second session, gaining 31 dollars to 4,506 dollars an ounce.
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The U.S. dollar remained firm against other major currencies, with the dollar index climbing to 99.64.
EUR/USD fell 52 pips to 1.1555. Germany's Ifo business climate index held steady at 88.6 in March.
USD/JPY gained 80 pips to 159.48.
GBP/USD slipped 54 pips to 1.3355. U.K. data showed that the inflation rate was stable at 3.0% year on year in February.
AUD/USD declined 49 pips to 0.6944. Australia’s inflation rate ticked down to 3.7% year on year in February from 3.8% in January.
USD/CHF advanced 37 pips to 0.7919, and USD/CAD climbed 48 pips to a 2-month high at 1.381.
Bitcoin held up well, gaining over 1% to 71,200 dollars.
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In Asian trading hours, EUR/USD and GBP/USD remained subdued, at 1.1560 and 1.3355 respectively.
Meanwhile, USD/JPY held gains at 159.50.
Gold climbed to 4,517 dollars.
Bitcoin eased to 70,864 dollars.
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Germany's GfK consumer confidence index is expected to decline to -27.0 in April.
In the U.S., weekly initial jobless claims are estimated at 209,000.
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