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Market Wrap: Stocks, Bonds, Commodities |
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On Tuesday, U.S. stocks advanced, helping both the S&P 500 (up 58 points or 0.81% to 7,259) and the Nasdaq 100 (up 363 points or 1.31% to 28,015) to score record-high closing levels again.
After retreating for two sessions, the Dow Jones rebounded 356 points (+0.73%) to 49,298.
And the small-cap Russell 2000 gained 49 points (+1.75%) to 2,845, also a record closing level.
Investors were encouraged to see lower oil prices. U.S. WTI crude futures fell 4.15 dollars (-3.90%) to settle at 102.27 dollars a barrel.
Intel (INTC) jumped 12.92%, and Apple (AAPL) was up 2.66%. Bloomberg reported that Apple is in talks with both Intel and Samsung on making chips for its devices in the U.S.
Micron (MU) showed no sign of fatigue in its record-breaking rally, surging another 11.06% to mark a fresh record closing level. Options of the memory-chip maker were among the most active ones, with traders paying very rich option premiums betting on the stock’s further upside.
At the same time, Sandisk (SNDK) bounced 11.98%, Western Digital (WDC) climbed 5.18%, and Seagate Technology (STX) was up 4.40%
Advanced Micro Devices (AMD) closed 4.02% higher and gained a further 7% in after-market as the chip-maker’s quarterly revenue and earnings beat market expectations thanks to booming data-center-related sales.
Palantir (PLTR) closed 6.93% lower despite better-than-expected quarterly results and raised full-year revenue forecast.
In after-market hours, Super Micro Computer (SMCI) soared 21% after giving strong guidance on quarterly revenue and earnings.
The U.S. 10-year Treasury yield was little changed at 4.426%.
In Europe, the DAX 40 rose 1.71%, and the CAC 40 was up 1.08%, while the FTSE 100 closed 1.40% lower.
Gold price was off a one-month low, adding 33 dollars to 4,556 dollars an ounce.
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The U.S. dollar held steady against other major currencies, with the dollar index edging up to 98.47.
U.S. data showed that new home sales increased 7.4% month on month in March (vs +4.9% expected, +8.9% in February).
The U.S. Institute for Supply Management (ISM) services index posted at 53.6 in April, still an expansion reading.
EUR/USD edged up 3 pips to 1.1693
USD/JPY increased 65 pips to 157.87.
GBP/USD added 6 pips to 1.3537.
AUD/USD gained 14 pips to 0.7181. As expected, Australia’s central bank raised its interest rate by 25 basis points to 4.35%, its third rate hike year to date.
USD/CHF slipped 8 pips to 0.7828, and USD/CAD dipped 6 pips to 1.3618.
Bitcoin maintained its upward momentum, advancing 2% to 81,500 dollars.
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In Asian trading hours, the U.S. dollar declined, with EUR/USD rising to 1.1720 and GBP/USD trading higher to 1.3569.
USD/JPY dipped to 157.77.
U.S. WTI crude futures eased further to test support at the key level of 100 dollars a barrel, while gold bounced 2% to 4,648 dollars an ounce.
Bitcoin held up well at 81,500 dollars.
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The U.S. ADP jobs report is expected to show an addition of 70,000 private jobs in April.
The Eurozone's producer prices are expected to grow 1.6% year on year in March.
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