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U.S. Market Overview:
On Monday, the major U.S. indices closed mixed as Iran tensions pushed oil prices and Treasury yields higher, weighing on sentiment. The Dow gained 159 points (+0.32%) to 49,686, while the S&P 500 slipped 5 points (-0.07%) to 7,403 and the Nasdaq 100 declined 130 points (-0.45%) to 28,994. Energy (XLE), Consumer Staples (XLP), and Financials (XLF) outperformed on the day, while Technology (XLK), Industrials (XLI), and Consumer Discretionary (XLY) lagged.
Looking at the latest U.S. economic data, the NAHB housing market index increased to 37, above the 35 estimate and 34 in April.
U.S. Equity News:
Among large-cap tech names, Tesla (TSLA) led declines, dropping 2.9%, while Nvidia (NVDA) shed 1.33% ahead of its closely watched earnings report Wednesday. Apple (AAPL) and Meta (META) also slipped, falling 0.8% and 0.49%, respectively. On the upside, Microsoft (MSFT) edged up 0.38%, Amazon (AMZN) gained 0.27%, and Alphabet (GOOGL) was essentially flat.
Dominion Energy (D), a Virginia-based electricity and natural gas utility, surged 9.44% after reports emerged that NextEra Energy (NEE) (-4.63%) is in talks to acquire the company.
Delta Air Lines (DAL), an airline, and Macy's (M), a department store chain, gain ground as Berkshire Hathaway (BRK/B) took stakes in the companies. On the other hand, UnitedHealth Group (UNH), a private health insurance provider, drops as Berkshire Hathaway fully exited its stake in the company.
Baidu (BIDU), a Chinese technology company, gained 1.76% as quarterly sales beat estimates.
Europe Market Overview:
European markets closed broadly higher on Monday. Germany's DAX gained 357 points (+1.49%) to 24,307, the U.K.'s FTSE 100 advanced 128 points (+1.26%) to 10,323, and France's CAC 40 edged up 34 points (+0.44%) to 7,987.
Volatility & Commodities Snapshot:
The VIX eased 0.61 points to 17.82, while the 10-year Treasury yield edged up to 4.589%. In commodities, gold added $25.98 (+0.57%) to $4,564, silver rallied $1.59 (+2.09%) to $77.54, and WTI crude ticked up $0.26 (+0.25%) to $105.68.
The Dollar & Majors: Dollar weakens broadly as sterling leads G10 gains
Dollar Index: -0.33pts (-0.33%) to 98.955
EUR/USD: +33 pips (+0.28%) to 1.1658
GBP/USD: +112 pips (+0.84%) to 1.3433
USD/JPY: +7 pips (+0.04%) to 158.83
USD/CHF: -28 pips (-0.36%) to 0.7839
AUD/USD: +22 pips (+0.31%) to 0.717
USD/CAD: -14 pips (-0.10%) to 1.3735
Digital Assets:
Bitcoin slipped $1,217 (-1.56%) to $77,040, while Ethereum declined $62 (-2.84%) to $2,126.
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