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Market Wrap: Stocks, Bonds, Commodities |
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On Friday, major U.S. stock indexes continued to set closing-level records, with the S&P 500 advancing 16 points (+0.22%) to 7,580, the Nasdaq 100 up 109 points (+0.36%) to 30,333.
And the Dow Jones rose 363 points (+0.72%) to 51,032.
Dell Technologies (DELL) soared 32.76%. The company reported much-better-than-expected quarterly results thanks to soaring demand for its servers used in the artificial intelligence field, and raised its full-year revenue guidance.
Semiconductor stocks continued to be the market leaders, with Arm Holdings (ARM) gaining 5.37%, Micron (MU) up 5.14%, Broadcom (AVGO) up 4.73%, and Qualcomm (QCOM) up 3.18%. All these stocks marked record closes on Friday.
Software stocks also outperformed the market, with ServiceNow (NOW) jumping 14.38%, Oracle (ORCL) up 10.84%, Palantir (PLTR) up 9.21%, and Microsoft (MSFT) up 5.45%.
NetApp (NTAP) surged 22.36%. The data infrastructure company reported better-than-expected fourth-quarter results and offered upbeat forward guidance.
Costco Wholesale (COST) slipped 3.91% although the company’s quarterly results topped market expectations.
Gap (GPS) fell 15.40%. The apparel retail company trimmed its full-year sales forecast.
The U.S. 10-year Treasury eased another 1.6 basis points to 4.437%, its seventh straight declining session.
Major European stock indexes were little changed, with the DAX 40 edging up 0.05%, the CAC 40 dipping 0.07%, and the FTSE 100 down 0.16%.
Over the weekend, the long-awaited U.S.-Iran peace deal was still not in sight.
In early Asian trading hours on Monday, U.S. WTI crude futures rebounded over 2% to 89.42 dollars a barrel, and gold held at 4,535 dollars an ounce.
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In early Asian trading hours on Monday, the dollar index struggled to keep the level of 99.00 after two losing sessions.
EUR/USD traded around 1.1650 after climbing for two sessions.
Germany’s inflation rate slowed to 2.6% year on year in May (vs 3.1% expected), while France’s inflation rate accelerated to 2.4% year on year (vs 2.6% expected).
USD/JPY held up well at 159.38.
GBP/USD was around 1.3450 after two sessions of modest gains.
AUD/USD stayed at elevated levels around 0.7180.
USD/CAD traded at 1.3796. Canada's gross domestic product shrank at an annualized rate of 0.1% in the first quarter (vs +0.7% expected).
Bitcoin stabilized near 74,000 dollars.
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In Asian trading hours, EUR/USD and GBP/USD were both relatively steady, at 1.1645 and 1.3455 respectively.
Meanwhile, USD/JPY edged up to 159.46.
Gold eased to 4,523 dollars.
Bitcoin was down slightly to 73,700 dollars.
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The eurozone's jobless rate is expected to stay at 6.2% in April.
Germany's retail sales are estimated to drop 0.3% month-on-month in April.
In the U.S., the ISM manufacturing purchasing managers index is expected to climb to 53.0 in May.
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