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Market Wrap: Stocks, Bonds, Commodities |
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On Tuesday, the S&P 500 climbed 44 points (+0.58%) to a record closing level of 7,818, and the Nasdaq 100 rose 148 points (+0.48%) to 31,224, also a record closing level.
The Dow Jones advanced 253 points (+0.49%) to 51,521, posting a four-session rebound.
The U.S. 10-year Treasury yield fell 2.1 basis points to 5.286%, pulling back from Monday's high, which was its highest level since 2002.
Nvidia (NVDA) edged up 0.14% to a fresh record closing level of 239.24 dollars.
Intel (INTC) fell 3.18%, marking its fourth straight losing session.
Data-storage stocks gave back the prior session's gains, with Western Digital (WDC) losing 6.93% and Seagate Technology (STX) down 9.18%.
Constellation Energy (CEG) jumped 12.3% after the nuclear-power producer signed a 20-year nuclear power agreement with Google to boost output across 11 existing reactors.
Vistra (VST) climbed 10.7% after the U.S. Energy Department announced a conditional loan commitment of up to 4.2 billion dollars to finance upgrades across the company's nuclear plants.
Ciena (CIEN) advanced 13.8%, as the optical-networking provider benefited from bullish commentary from Marvell Technology and Nokia on long-term demand for AI-related optical networking infrastructure.
European stocks also closed higher, with the DAX 40 rising 0.77%, the CAC 40 up 0.40%, and the FTSE 100 up 0.42%.
U.S. WTI crude futures were little changed at 89.44 dollars a barrel.
Spot gold rose 24 dollars to 4,164 dollars an ounce.
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The U.S. dollar eased as Treasury yields pulled back from multi-decade highs, with EUR/USD rebounding 37 pips to 1.1258, GBP/USD climbing 53 pips to 1.3274, and AUD/USD adding 12 pips to 0.6983.
The euro rebounded after hitting a 17-month low of 1.1160 in the prior session, as French government bond yields retreated, easing fears about strain in the eurozone's debt markets.
USD/JPY climbed 20 pips to 158.09. Bank of Japan Governor Kazuo Ueda said that anchoring underlying inflation around the central bank's 2% target is becoming more important, signaling readiness to keep raising interest rates to curb the risk of too-high inflation.
USD/CHF rose 13 pips to 0.8316, while USD/CAD fell 53 pips to 1.4207.
Bitcoin dipped to 85,600 dollars.
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In Asian trading hours, EUR/USD retreated to 1.1235, and GBP/USD fell to 1.3252.
Meanwhile, USD/JPY rose to 158.44.
Gold fell to 4,147 dollars.
Bitcoin declined to 83,819 dollars.
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Germany's industrial production is projected to grow 0.5% month-on-month in August.
France's trade deficit is estimated at 6.5 billion euros in August.
In the U.S., the Federal Reserve will release the minutes of its latest FOMC meeting.
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