|
| |
Market Wrap: Stocks, Bonds, Commodities |
|
|
| |
|
|
|
| |
On Wednesday, major U.S. stock indexes finished sharply lower, with the S&P 500 falling 112 points (-1.52%) to 7,316, the Nasdaq 100 down 570 points (-2.06%) to 27,192, and the Dow Jones down 1,153 points (-2.19%) to 51,594.
The Nasdaq 100 has officially entered correction territory, dropping over 11% from its June record high.
As expected, the Federal Reserve left its key interest rates unchanged in a range of 3.50% - 3.75%. Fed Chairman Kevin Warsh said the central bank would not hesitate to act to contain inflation. Meanwhile, the yield on the 30-year U.S. Treasury rose above 5.2%, its highest level since 2007, while the 10-year Treasury yield climbed 8.1 basis points to 4.687%.
Among mega-cap stocks, Apple (AAPL) retreated 0.56%, Nvidia (NVDA) fell 3.55%, and Tesla (TSLA) was down 2.97%.
The selloff in semiconductor stocks continued, with Micron (MU) shedding 9.94%, Applied Materials (AMAT) down 8.40%, ON Semiconductor (ON) down 6.55%, and Advanced Micro Devices (AMD) down 5.51%.
Microsoft (MSFT) closed 0.71% lower but jumped 8% in after-market hours. The software giant posted stronger-than-expected quarterly results. It said capital expenditures will remain on track for 2026 before rising in the following year.
Meta (META) closed 1.31% lower and fell another 8% in after-market hours. The tech giant’s quarterly earnings per share missed market expectations. It also issued a weaker-than-expected revenue forecast.
Elsewhere in after-market hours, after posting earnings, Arm Holdings (ARM) sank 8%, Qualcomm (QCOM) fell 4%, Lam Research (LRCX) dropped 6%, while Starbucks (SBUX) gained 4%.
In Europe, the DAX 40 dipped 0.01%, the CAC 40 declined 0.60%, while the FTSE 100 rose 0.34%.
U.S. WTI crude futures settled 5.20 dollars higher (+6.56%) at 84.46 dollars a barrel. U.S. President Donald Trump said he would order heavy strikes on Iran in retaliation for its surprise attack on U.S. forces in the Middle East.
Gold managed to keep the level of 4,000 dollars an ounce.
|
| |
|
|
|
|
|
|
|
|
| |
The U.S. dollar weakened after the Fed held interest rates steady, with EUR/USD jumping 69 pips to 1.1454 and USD/JPY dropping 30 pips to 163.52.
GBP/USD advanced 60 pips to 1.3345. Later today, the Bank of England is widely expected to leave its key interest rate unchanged at 3.75%.
AUD/USD eased 29 pips to 0.6944. Australia's inflation rate slowed to 3.8% year-on-year in June, below expectations.
USD/CHF slipped 47 pips to 0.8142, and USD/CAD was down 57 pips to 1.4049.
Bitcoin was steady at 63,800 dollars.
|
| |
|
|
|
|
|
|
|
|
| |
In Asian trading hours, EUR/USD held gains at 1.1453 and GBP/USD was firm at 1.3351.
Meanwhile, USD/JPY edged lower to 163.47.
Gold was steady at 4,070 dollars.
Bitcoin climbed to 64,167 dollars.
|
| |
|
|
|
|
|
|
|
|
| |
The eurozone's gross domestic product is expected to be up 0.5% year-on-year in the second quarter, while jobless rate is anticipated to be unchanged at 6.2% in June.
Germany's gross domestic product is estimated to increase by 0.6% year-on-year in the second quarter, while inflation rate is expected to climb to 2.7% in July.
France's gross domestic product is estimated to grow 0.8% year-on-year in the second quarter.
In the U.K., the Bank of England is anticipated to keep its benchmark rate unchanged at 3.75%.
In the U.S., the core personal consumption expenditures price index is expected to ease to 3.3% year-on-year in June, while the second quarter gross domestic product is estimated to grow 2.2% quarter-on-quarter and the weekly initial jobless claims are expected at 200,000.
|
| |
|
|
|
|
|
