|
|
|
|
| |
On Friday, stocks were under pressure following hotter-than-anticipated inflation data as well as ahead of the upcoming U.S.-Iran talks this weekend to address the reopening of the Strait of Hormuz.
The S&P 500 slipped 7pts (-0.11%) to 6816 and the Dow dropped 269pts (-0.56%) to 47916. Conversely, the Nasdaq 100 rose 34pts (+0.14%) to 25116.
On the sector front, the outperforming sectors were Materials (XLB), Technology (XLK), and Real Estate (XLRE) while Health Care (XLV), Consumer Staples (XLP), and Financials (XLF) underperformed the most.
Looking at the overall weekly performance, the S&P 500 rose 3.56%, the Nasdaq 100 gained 4.45%, and the Dow climbed 3.04%. Most sectors closed the week in positive territory, led by Technology (XLK), Industrials (XLI), and Consumer Discretionary (XLY). Energy (XLE) was the only sector in the red.
|
| |
|
|
|
|
|
| |
U.S. Economic Developments: |
|
|
| |
|
|
|
| |
U.S. inflation rose 3.3% year-over-year in March, slightly above the 3.2% forecast and up from 2.4% in February. This is the highest rate since 2024. Core inflation, which excludes food and energy, increased 2.6% year-over-year, under the 2.7% expected but above February’s 2.5%.
Meanwhile, factory orders were unchanged month-over-month in February, versus a projected 0.2% decline. Finally, the preliminary University of Michigan Consumer Sentiment Index for April dropped to 47.6, below the 52.3 forecast and down from March’s 53.3.
|
| |
|
|
|
|
|
|
|
|
| |
Taiwan Semiconductor Manufacturing (TSM) rose 1.40% after reporting Q1 revenue up 35% to $30.41 billion, topping expectations. Semiconductor peers traded higher, with Advanced Micro Devices (AMD) and Broadcom (AVGO) up 3.55% and 4.69%, respectively.
Cybersecurity names weakened as investors fretted over AI’s impact on the industry. CrowdStrike (CRWD) and Palo Alto Networks (PANW) fell 3.97% and 6.74%, respectively, amid concerns that Anthropic’s forthcoming Mythos model could breach existing defenses.
WD-40 (WDFC) slipped 4.04% after reporting Q2 adjusted EPS of $1.50, down from $2.19 a year earlier.
Nike (NKE) dropped 3.14% following a downgrade from Piper Sandler to “Neutral” from “Overweight”.
|
| |
|
|
|
|
|
|
|
|
| |
|
At the European close, the major indices in the region finished in mixed territory. Germany's Dax fell 3pts (-0.01%) to 23803, France's Cac 40 rose 13pts (+0.17%) to 8259, and the U.K.'s FTSE 100 declined 2pts (-0.03%) to 10600.
|
| |
|
|
|
|
|
| |
Global Macro, FX & Commodities: |
|
|
| |
|
|
|
| |
Rates & Risk Sentiment:
The VIX dropped 0.26pts (-1.33%) to 19.23 while the US 10 year yield climbed to 4.317%.
Precious Metals & Crude:
Commodities were mixed for the day. Gold fell $12.92 (-0.27%) to $4750.70 while Silver rose $1.1 (+1.47%) to $76.17. WTI Crude Oil slipped $1.91 (-1.95%) to $95.96.
The Dollar & Majors:
The dollar index fell 0.15pts (-0.15%) to 98.671.
EUR/USD rose 29pips (+0.25%) to 1.1728.
GBP/USD advanced 30pips (+0.22%) to 1.3463.
USD/JPY gained 37pips (+0.23%) to 159.31. On the stat front, Japan's producer price index rose 2.6% year-on-year in March, below 3.1% expected.
USD/CHF retreated 9pips (-0.11%) to 0.7889.
AUD/USD declined 2pips (-0.03%) to 0.7077.
USD/CAD climbed 23pips (+0.17%) to 1.3837. The Canadian unemployment rate fell to 6.7%, below 6.9% estimated.
Digital Assets:
Bitcoin rose $789 (+1.09%) to $73207 and Ethereum gained $40 (+1.82%) to $2253.
|
| |
|
|
|
|
|
