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Market Wrap: Stocks, Bonds, Commodities |
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On Friday, the Nasdaq 100 fell 322 points (-1.09%) to 29,118, dragged by losses in AI-related chip stocks.
The S&P 500 dipped 3 points (-0.05%) to 7,354, and the Dow Jones slipped 44 points (-0.09%) to 51,876.
ON Semiconductor (ON) plunged 23.66% after agreeing to acquire internet-of-things company Synaptics (SYNA) in an all-stock deal valued at approximately 7 billion dollars.
Micron Technology (MU) retreated 6.69% after surging 16% in the prior session.
Data-storage stocks also closed lower, with SanDisk (SNDK) sliding 10.46%, Western Digital (WDC) down 13.17%, and Seagate Technology (STX) down 12.24%.
Eli Lilly (LLY) jumped 7.13% after European regulators backed its Jaypirca drug for chronic lymphocytic leukemia.
Moderna (MRNA) also surged 12.59%.
European stock markets closed lower as well, with the DAX 40 falling 1.29%, the CAC 40 down 0.55%, and the FTSE 100 down 0.21%.
U.S. WTI crude futures fell 2.69 dollars (-3.74%) to 69.23 dollars a barrel, down nearly 9% for the week.
Gold rebounded a further 62 dollars (+1.54%) to 4,089 dollars an ounce.
Over the weekend, the U.S. struck military targets in Iran after the latter attacked shipping vessels in the Strait of Hormuz.
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The U.S. dollar softened against major currencies for a second consecutive session, with the dollar index easing slightly to 101.32, though it posted gains for two consecutive weeks.
The U.S. non-farm payrolls report for June is due Thursday.
U.S. markets are closed Friday for the Independence Day holiday.
EUR/USD rose 19 pips to 1.1388.
USD/JPY dipped to 161.73. The Bank of Japan Tankan large manufacturers index for the second quarter will be released Wednesday.
GBP/USD gained 8 pips to 1.3199.
Over the weekend, Bitcoin struggled to hold the 60,000-dollar level.
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In Asian trading hours, USD/JPY was little changed at 161.77. Japan's retail sales rose 1.9% month-on-month in May, more than the expected increase of 0.7%.
Meanwhile, EUR/USD was steady at 1.1389 while GBP/USD edged up to 1.3204.
Gold retreated to 4,061 dollars.
Bitcoin was up slightly to 59,687 dollars.
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In the U.S., the Dallas Fed manufacturing index is expected to climb to 2.0 in June.
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