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Market Wrap: Stocks, Bonds, Commodities |
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On Friday, the U.S. stock market closed higher during a shortened trading session, driven by bullish momentum after futures trading was halted overnight due to a CME Group outage.
The S&P 500 rose by 36 points (+0.54%) to reach 6,849, while the Nasdaq 100 gained 197 points (+0.78%) to close at 25,434. The Dow added 289 points (+0.61%), finishing at 47,716.
Most sectors experienced gains, particularly Energy (XLE), Technology (XLK), and Communication Services (XLC). In contrast, Health Care (XLV) was the sole sector to end the day in negative territory.
For the week overall, the S&P 500 increased by 3.73%, the Nasdaq 100 surged by 4.93%, and the Dow rose by 3.18%. The leading sectors included Consumer Discretionary (XLY) and Technology (XLK), although the Energy (XLE) sector underperformed. All sectors closed in positive territory.
Intel (INTC) led the S&P 500 with a significant increase of 10.19% after an analyst from TF International Securities indicated that the company is expected to start shipping Apple's (AAPL) lowest-end M processor as early as 2027. Apple (AAPL) itself saw a modest gain of 0.29% for the day.
Micron Technology (MU) continued its upward trend, driven by overall positive market sentiment and optimism surrounding the AI industry. It rose 2.70% on Friday, marking a remarkable 178.28% increase for the year to date. Peers Super Micro Computer (SMCI) and Analog Devices (ADI) also performed well, climbing 3.11% and 2.88%, respectively.
Other notable movements included Eli Lilly (LLY), which declined 2.61%, leading the losses among S&P 500 stocks. Nvidia (NVDA) also fell by 1.81%, while Moderna (MRNA) experienced a strong rise of 3.88%.
The U.S. 10-year yield rose to 4.017%.
In Europe, Germany's Dax rose 0.29%, France's Cac 40 gained 0.29%, and the U.K. FTSE 100 climbed 0.27%.
In the commodities market, Gold jumped 63 dollars (+1.52%) to 4,220 dollars and Silver rose 3 dollars (+5.66%) to a record high at 56.42 dollars. WTI Crude Oil slipped 0.10 dollars (-0.17%) to 58.55 dollars.
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The dollar index fell 0.16 points (-0.16%) to 99.43.
EUR/USD rose 8 pips (+0.07%) to 1.1603, while GBP/USD slipped 2 pips (-0.02%) to 1.3237.
USD/JPY fell 20 pips (-0.13%) to 156.10 and USD/CHF retreated 16 pips (-0.2%) to 0.8030.
AUD/USD gained 16 pips (+0.24%) to 0.6549, posting a 6-day rally.
USD/CAD dipped 57 pips (-0.41%) to 1.3972, down for a fourth straight session. Canada's third-quarter annualized gross domestic product grew 2.6% quarter-on-quarter, above the 0.4% estimated.
Over the weekend, data showed that China's official manufacturing purchasing managers index edged up to 49.2 in November, below 49.4 estimated.
In the cryptocurrencies market, Bitcoin fell 201 dollars (-0.22%) to 91,201 dollars, and Ethereum added 24 dollars (+0.82%) to 3,058 dollars.
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In Asian trading hours, EUR/USD fell to 1.1595, while GBP/USD was little changed at 1.3225.
Meanwhile, USD/JPY dropped to 155.56.
Gold climbed to 4,241 dollars and silver extended its rally to 57.32 dollars.
Bitcoin declined to 86,750 dollars.
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In the U.S., ISM manufacturing purchasing managers index is expected to improve to 48.8 in November.
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