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Market Wrap: Stocks, Bonds, Commodities |
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On Monday, U.S. stocks rebounded, with the S&P 500 advancing 67 points (+1.01%) to 6,699, and the Nasdaq 100 up 274 points (+1.13%) to 24,655.
The Dow Jones closed 387 points higher (+0.83%) at 46,946.
Oil prices cooled down as the U.S. is making efforts to form a coalition of countries to escort ships through the Strait of Hormuz.
U.S. WTI crude futures ran up to levels above 102 dollars a barrel at the open in early Asian hours on Monday, but retreated to settle at 93.50 dollars a barrel, down 5.21 dollars or 5.28% on day.
Nvidia (NVDA) rose 1.65%. CEO Jensen Huang said in the company's 2026 GPU Technology Conference (GTC) that purchase orders for its artificial-intelligence chips could reach one trillion dollars through 2027.
Meta (META) gained 2.24% amid reports that the company is planning to lay off over 20% of its workforce.
Other tech giants also closed higher, with Apple (AAPL) rising 1.08%, Microsoft (MSFT) up 1.11%, and Alphabet (GOOGL) up 1.09%.
Micron (MU) rose 3.68%. The company announced plans to build a second semiconductor manufacturing facility in Taiwan.
Data-storage stocks kept outperforming the market, with Sandisk (SNDK) jumping 6.35%, Seagate Technology (STX) up 3.93%, and Western Digital (WDC) up 5.11%.
The U.S. 10-year Treasury yield fell 6.3 basis points to 4.220%, halting a four-session rally.
European stocks also closed higher, with the DAX 40 rising 0.50%, the CAC 40 up 0.31%, and the FTSE 100 up 0.55%.
Gold declined 12 dollars to 5,006 dollars an ounce.
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The U.S. dollar softened against other major currencies, with the dollar index dropping to 99.78.
U.S. data showed that industrial production edged up 0.2% month on month in February (vs +0.3% expected, +0.7% in January).
EUR/USD gained 91 pips to 1.1507.
USD/JPY fell 61 pips to 159.10.
GBP/USD advanced 97 pips to 1.3319.
AUD/USD jumped 91 pips (+1.30%) to 0.7071. Later today, Australia’s central bank is expected to raise its key interest rate by 25 basis points to 4.10%.
USD/CHF slipped 38 pips to 0.7874.
USD/CAD declined 39 pips to 1.3679. Canada’s inflation rate eased to 1.8% year on year in February (vs 2.1% expected, 2.3% in January).
Bitcoin continued to show upward momentum, gaining a further 2% to 74,500 dollars.
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In Asian trading hours, AUD/USD was steady at 0.7070. The Reserve Bank of Australia raised its benchmark rate by 25 basis points to 4.10% as expected.
Meanwhile, EUR/USD and GBP/USD were down slightly, at 1.1500 and 1.3310 respectively.
USD/JPY rebounded to 159.33.
Gold bounced 5,031 dollars.
Bitcoin was steady at 74,686 dollars.
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Germany's ZEW economic sentiment index is expected to drop to 36.0 in March.
In the U.S., pending home sales are estimated to be down 0.7% month-on-month in February.
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