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Market Wrap: Stocks, Bonds, Commodities |
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On Monday, after the Easter long weekend, major U.S. stock indexes held up well, with the S&P 500 closing 29 points higher (+0.44%) to 6,611, and the Nasdaq 100 up 146 points (+0.61%) to 24,192.
The Dow Jones rose 165 points (+0.36%) at 46,669.
On the U.S.-Iran war, U.S. President Donald Trump reiterated that Iran has until Tuesday at 8 pm U.S. Eastern time to make a deal, threatening to bomb power plants and bridges in Iran after the deadline.
U.S. WTI crude futures settled 0.78% higher at 112.41 dollars a barrel after surging over 11% last Thursday.
Amazon (AMZN) rose 1.44%, Alphabet (GOOGL) climbed 1.43%, and Apple (AAPL) was up 1.5%, while Tesla (TSLA) fell 2.15%.
Seagate Technology (STX) jumped 5.58%, and Western Digital (WDC) gained 3.11%. Morgan Stanley raised its price targets on both data-storage stocks, rating them "overweight".
Applovin Corp (APP) climbed 6.81% after Wells Fargo raised its price target on the stock while maintaining an "overweigh" rating.
Invesco (IVZ) dropped 5.22%. BlackRock has filed for an exchange-traded fund (ETF) that will track the Nasdaq 100 index, which will trade under the ticker "IQQ" and compete directly with Invesco’s "QQQ" ETF.
The U.S. 10-year Treasury yield edged up to 4.339%.
European markets remained closed for the Easter Monday holiday.
Gold was down for the second session, declining 27 dollars to 4,648 dollars an ounce.
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The U.S. dollar eased against other major currencies as investors focused on the deadline set by Trump for Iran to make a deal. The dollar index slipped from the key level of 100.
The U.S. Institute for Supply Management (ISM) services index posted at 54.0 for March (vs 56.1 in February).
EUR/USD held at levels around 1.1540, and GBP/USD was around 1.3240.
USD/JPY traded at 159.68, above its 20-day moving average.
AUD/USD was firm at 0.6920.
USD/CHF edged down to 0.7978, and USD/CAD was just above 1.3900.
Bitcoin remained buoyed, challenging the key level of 70,000 dollars.
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In Asian trading hours, WTI crude futures climbed above 115.00 dollars a barrel amid ongoing uncertainty over the Iran war.
Meanwhile, USD/JPY climbed to 159.85. Japan's household spending dropped 1.8% year-on-year in February, compared with -0.4% expected.
EUR/USD fell to 1.1530 and GBP/USD was down to 1.3218.
Gold remained subdued at 4,646 dollars.
Bitcoin was steady at 68,619 dollars.
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In the U.S., durable goods orders are estimated to drop 0.3% month-on-month in February.
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