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Market Wrap: Stocks, Bonds, Commodities |
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On Wednesday, the S&P 500 closed little changed at 6,978, despite briefly crossing the 7,000 mark earlier in the session.
The Nasdaq 100 extended its rally to a sixth session, gaining 83 points (+0.32%) to 26,022, while the Dow Jones added 12 points (+0.02%) to 49,015.
As expected, the U.S. Federal Reserve kept interest rates unchanged after three consecutive 25-basis-point rate cuts. The central bank pointed out: "Available indicators suggest that economic activity has been expanding at a solid pace."
Micron (MU) advanced 6.10% to mark another record closing level above 435 dollars.
Other semiconductor stocks also performed well, with Intel (INTC) jumping 11.04%, Texas Instruments (TXN) up 9.94%, and Nvidia (NVDA) up 1.59%.
AT&T (T) rose 4.65% and Seagate Technology (STX) surged 19.14%, as both companies gave upbeat result guidance.
In after-market hours, after reporting quarterly results, Microsoft (MSFT) slid 6%, while both Meta (META) and IBM (IBM) jumped 8%, and Tesla (TSLA) added 2%.
The U.S. 10-year Treasury yield edged up to 4.247%.
European stocks closed lower, with the DAX 40 declining 0.29%, the CAC 40 down 1.06%, and the FTSE 100 down 0.52%.
U.S. WTI crude futures gained 82 cents (+1.31%) to $63.21 dollars a barrel, a fresh three-month high.
Gold saw its record-breaking rally accelerate, bouncing over 4% to 5,416 dollars an ounce on Wednesday. On Thursday morning, it charged higher to an all-time high of 5,491 dollars an ounce.
Silver ran up to a record of 118 dollars an ounce.
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The U.S. dollar rebounded from a four-year low against other major currencies, with the dollar index climbing to 96.36.
EUR/USD retreated 98 pips to 1.1943.
USD/JPY jumped 125 pips to 153.44.
GBP/USD slipped 48 pips to.3798.
AUD/USD rose 22 pips to 0.7033, posting an 8-day rally. Australia's inflation rate increased to 3.8% year on year in December from 3.4% in November.
USD/CHF climbed 79 pips (+1.04%) to 0.7689.
USD/CAD was down 26 pips to 1.3548. The Bank of Canada kept its key interest rate unchanged, as expected.
Bitcoin managed to hold up at levels above 89,000 dollars.
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In Asian trading hours, EUR/USD rebounded to 1.1975 and GBP/USD bounced to 1.3822.
Meanwhile, USD/JPY eased to 153.05.
Gold extended its rally to 5,521 dollars.
Bitcoin was little changed at 88,920 dollars.
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In the U.S., weekly initial jobless claims are estimated at 205,000, while factory orders are expected to grow 0.4% month-on-month in November.
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