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Market Wrap: Stocks, Bonds, Commodities |
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On Tuesday, U.S. stocks eased further, with the S&P 500 slipping 24 points (-0.32%) to 7,728, the Nasdaq 100 down 96 points (-0.33%) to 29,525, and the Dow down 184 points (-0.34%) to 53,791.
Alphabet (GOOGL) fell 3.84%, Amazon (AMZN) dropped 2.09%, and Apple (AAPL) was down 1.09%.
KKR & Co (KKR) rose 6.88% and Apollo Global Management (APO) climbed 6.26%. The two Wall Street financiers are among the six strategic partners with Nvidia (NVDA) for raising 500 billion dollars for the chip giant’s AI buildout.
Riot Platforms (RIOT) gained 4.33% after Bloomberg reported that the Bitcoin miner has struck a 9.1-billion-dollar deal to sell AI data center capacity to Anthropic.
In after-market hours, after reporting quarterly results, Lumentum (LITE) gained 2%, Super Micro Computer (SMCI) jumped 7%, and CoreWeave (CRWV) surged 13%.
The 10-year U.S. Treasury yield dipped 1.1 basis points to 4.694%.
In Europe, the DAX 40 rose 0.26%, while the CAC declined 0.13%, and the FTSE 100 was down 0.17%.
U.S. WTI crude futures advanced 1.07 dollars (+1.30%) to 83.20 dollars a barrel, posting a four-session rally. Iran said the Strait of Hormuz would remain closed as long as the U.S. does not accept its conditions.
Spot gold dipped 21 dollars to 4,368 dollars an ounce.
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The U.S. dollar was little changed on Tuesday, as traders watched closely Wednesday’s major U.S. inflation report for July. It is expected that both annual headline and core inflation rates ticked lower in July.
EUR/USD was largely flat at 1.1541, USD/JPY at 159.28, and GBP/USD at 1.3503.
AUD/USD added 9 pips to 0.7061.
USD/CHF gained 5 pips to 0.8107, while USD/CAD slipped 15 pips to 1.3924.
Bitcoin lacked upward momentum, still trading at levels below 64,000 dollars.
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In Asian trading hours, EUR/USD and GBP/USD were broadly steady, at 1.1539 and 1.3507 respectively.
Meanwhile, USD/JPY edged up to 159.39.
Gold advanced to 4,410 dollars.
Bitcoin remained subdued at 63,707 dollars.
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In the U.S., inflation rate is expected to ease to 3.4% year-on-year in July.
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