|
| |
Market Wrap: Stocks, Bonds, Commodities |
|
|
| |
|
|
|
| |
On Tuesday, U.S. stocks remained under pressure, with the S&P 500 falling 53 points (-0.69%) to 7,691, the Nasdaq 100 down 504 points (-1.68%) to 29,490, and the Dow Jones down 116 points (-0.22%) to 53,343.
Investors felt uneasy about global sovereign bond yields rising to multidecade highs. For example, the U.S. 30-year Treasury yield climbed to 5.335%, the highest level since 2002. Japan’s 10-year government bond yield rose to 2.941%, a 30-year high.
Meanwhile, the U.S. 10-year yield rose 1.8 basis points to 4.708%.
Meta (META) fell 4.45%, and Nvidia (NVDA) dropped 2.34%, while Apple (AAPL) closed 1.45% higher.
Semiconductor stocks fell across the board, with Marvell Technology (MRVL) dropping 7.82%, Micron Technology (MU) down 7.02%, and Intel (INTC) down 6.58%.
Arm Holdings (ARM) lost 6.67%, Advanced Micro Devices (AMD) declined 4.27%, and Broadcom (AVGO) was down 3.17%.
Data-storage stocks also came under pressure, with Seagate Technology (STX) retreating 9.16%, SanDisk (SNDK) down 9.01%, and Western Digital (WDC) down 7.43%.
Other AI infrastructure names also sold off, with CoreWeave (CRWV) tumbling 12.10%, Lumentum (LITE) down 9.90%, and Nebius Group (NBIS) down 7.60%.
Home Depot (HD) closed 0.12% lower. The home improvement retailer posted better-than-expected quarterly results, and reaffirmed its full-year guidance amid "frozen housing market conditions".
In Europe, the DAX 40 fell 0.80%, the CAC 40 dropped 0.82%, while the FTSE 100 closed 0.07% higher.
U.S. WTI crude futures dipped 44 cents to 84.06 dollars a barrel.
Spot gold pulled back 82 dollars (-1.86%) to 4,334 dollars an ounce.
|
| |
|
|
|
|
|
|
|
|
| |
The U.S. dollar held steady, with EUR/USD dipping 7 pips to 1.1572, and USD/JPY gaining 21 pips to 159.64.
U.S. housing starts decreased 12.4% month-on-month in July (vs -4.7% expected, +19.0% in June). Industrial production grew 0.2% month-on-month in July, slower than expected.
Germany’s ZEW economic sentiment index rose to 34.2 in August, higher than expected.
GBP/USD slipped 17 pips to 1.3526. In the U.K., the latest jobless rate remained stable at 4.9%.
AUD/USD fell 21 pips to 0.7082.
USD/CHF advanced 19 pips to 0.8124, and USD/CAD was up 27 pips to 1.3900.
Bitcoin stayed buoyed, challenging the level of 65,000 dollars.
|
| |
|
|
|
|
|
|
|
|
| |
In Asian trading hours, USD/JPY retreated to 159.36. Japan's machinery orders rose 9.7% month-on-month in June, above 7.8% expected.
Meanwhile, EUR/USD climbed to 1.1582 and GBP/USD advanced to 1.3537.
Gold rebounded to 4,359 dollars.
Bitcoin eased to 64,309 dollars.
|
| |
|
|
|
|
|
|
|
|
| |
U.K. inflation rate is expected to accelerate to 2.9% year-on-year in July.
In the U.S., the Federal Reserve will release its latest FOMC meeting minutes.
|
| |
|
|
|
|
|
