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On Thursday, U.S. stocks finally printed some green. The S&P 500 gained 29.59pts (+0.75%) to 3963 breaking an 8-day losing streak. the Nasdaq 100 rose 140.11pts (+1.22%) to 11637 and the Dow Jones Industrial Average jumped 183.56pts (+0.55%) to 33781.
Shares in the Semiconductors & Semiconductor Equipment (+3.11%), Consumer Services (+1.7%), and Consumer Durables & Apparel (+1.58%) sectors rose while shares in the Telecommunication Services (-1.19%), Energy (-0.47%), and Automobiles & Components (-0.4%) sectors underperformed the most during the trading session.
On the U.S. equity front, The U.S. Federal Trade Commission (FTC) filed a complaint, seeking to stop the purchase of video game maker Activision Blizzard (ATVI), which slipped 1.54% to $74.76, by Microsoft (MSFT), which rose 1.24% to $247.4 on the news.
Baidu (BIDU), the Chinese technology company, rose 5.02% to $120.33. Alibaba (BABA), the e-commerce giant, jumped 6.61% to $94.17 and JD.com (JD), the Chinese e-commerce company, rose 3.28% to $60.37 as China moves away from its zero COVID policy. Semiconductor stocks such as Nvidia (NVDA), jumped 6.51% to $171.69, NXP Semiconductor (NXPI), gained 4.59% to $171.47 and Marvell Technology (MRVL), rose 3.19% to $41.7 on the news.
Tesla (TSLA), the electric-vehicle maker, fell 0.34% to $173.44 after a report surfaced suggesting the company plans to shorten production shifts in Shanghai and delay new hiring due to weaker demand.
The VIX index fell 0.44pt (-1.94%) to 22.24.
The US 10-year yield jumped 6.9bps to 3.486%.
On the U.S. economic data front, Initial Jobless Claims rose to 230,000 but below the 240,000 estimate. Continuing claims have risen every week since the last week of September, reaching 1.67 million in the week ended November 26th, above the revised 1.609 million from the prior week suggesting it is becoming more difficult to find a job.
European stocks were mostly lower at the close. The Dax 40 closed up only 0.02%, while the CAC 40 dipped 0.20% and the FTSE 100 slipped 0.23%.
After the close of Wall Street, WTI Crude Future (JAN 23) was about flat to $71.65. The contract was below its 20D MA (@ $79.95) and below its 50D MA (@ $83.24).
Gold was up $3.1 to $1789.4. The precious metal was above its 20D MA (@ $1766) and above its 50D MA (@ $1708).
Copper Future (MAR 23) on Comex was up 2c to 388.05c/lb. The contract was above its 20D MA (@ 374.31c) and above its 50D MA (@ 356.77c).
Market Wrap: FOREX
The U.S. dollar index declined 0.31pt to 104.79.
EUR/USD jumped 51pips to 1.0557.
GBP/USD rose 35pips to 1.2238.
USD/JPY was flat at 136.62.
AUD/USD gained 47pips to 0.6772.
USD/CHF dropped 48pips to 0.936 and the USD/CAD fell 70pips to 1.3583.
Bitcoin traded higher to 17192 while Ethereum rose 46.1 dollars to 1278.
AFTER HOURS
Costco Wholesale (COST) slid in after-hours trading after first-quarter revenue came in less than expected as consumers cut back on discretionary items. |
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