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Market Wrap: Stocks, Bonds, Commodities |
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On Monday, the Dow Jones continued to rally, gaining 155 points (+0.29%) to 53,055, marking another record high.
The S&P 500 advanced 54 points (+0.72%) to 7,537, and the Nasdaq 100 was up 368 points (+1.26%) to 29,697.
Tesla (TSLA) rose 6.69%, Alphabet (GOOGL) gained 1.82%, and Apple (AAPL) was up 1.31%.
Meta (META) climbed 2.98%. Morgan Stanley reiterated its "buy" rating on the stock.
Microsoft (MSFT) dipped 0.96%. The tech giant announced plans to cut 4,800 jobs, about 2.1% of its global workforce.
Broadcom (AVGO) added 3.73%. The chip maker expanded its partnership with Apple by agreeing to supply it with custom chips through 2031.
Advanced Micro Devices (AMD) jumped 6.61%. Goldman Sachs raised its price target for the stock to 640 dollars from 450 dollars.
The U.S. 10-year Treasury yield eased 1.4 basis points to 4.471%.
In Europe, the DAX 40 edged up 0.15%, while the CAC 40 declined 0.33%, and the FTSE 100 was down 0.26%.
U.S. WTI crude futures dipped 0.14 dollars to 68.55 dollars a barrel.
Gold slipped 9 dollars to 4,165 dollars an ounce, halting a three-session rally.
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The U.S. dollar eased against its peers, with the dollar index edging down to 100.85. The Institute for Supply Management (ISM) services index posted at 54.0 for June (vs 54.2 expected, 54.5 in May).
EUR/USD edged up 5 pips to 1.1440. The Eurozone’s producer price inflation accelerated to 5.9% year-on-year in May (as expected).
USD/JPY advanced 70 pips to 162.07 despite renewed warnings from Japan's finance minister about possible market intervention to support the yen.
GBP/USD climbed 37 pips to a 3-week high at 1.3388, and AUD/USD rose 14 pips to 0.6954.
USD/CHF gained 19 pips to 0.8052.
Bitcoin kept building momentum, increasing 1% to 64,200 dollars.
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In Asian trading hours, USD/JPY eased to 161.90. Japan's household spending fell 0.4% year-on-year in May, compared with -2.5% estimated.
Meanwhile, EUR/USD and GBP/USD were both steady, at 1.1441 and 1.3392 respectively.
Gold declined to 4,139 dollars.
Bitcoin fell to 63,530 dollars.
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Germany's industrial production is expected to grow 0.2% month-on-month in May.
France's trade deficit for May is estimated at 5.2 billion euros.
In the U.S., trade deficit for May is expected at 78.0 billion dollars.
Canada's trade surplus for May is estimated at 2.7 billion Canadian dollars.
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