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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, U.S. stocks pared gains seen earlier in the session to close lower, with the S&P 500 slipping 28 points (-0.38%) to 7,337, and the Nasdaq 100 down 35 points (-0.12%) to 28,563.
The Dow Jones dropped 313 points (-0.63%) to 49,596.
Tesla (TSLA) rose 3.28%, outperforming other tech giants.
Semiconductor stocks cooled a bit, with Arm Holdings (ARM) falling 10.11%, ON Semiconductor (ON) down 4.88%, Advanced Micro Devices (AMD) down 3.07%, and Intel (INTC) down 3.00%.
Also, Micron (MU) dropped 2.99%, Sandisk (SNDK) declined 4.97%, and Western Digital (WDC) was down 3.98%.
On the other hand, software stocks outperformed the market, with Microsoft (MSFT) gaining 1.65%, Palantir (PLTR) up 2.44%, CrowdStrike (CRWD) up 8.04%, and Palo Alto Networks (PANW) up 7.00%.
After reporting quarterly results, Fortinet (FTNT) jumped 20.03%, DoorDash (DASH) climbed 2.01%, while Coherent (COHR) slid 7.39%.
Coinbase (COIN) closed 2.53% lower and declined a further 4% in after-market. The crypto exchange reported a second consecutive quarterly loss driven by falling trading volumes on digital assets.
The U.S. 10-year Treasury yield rebounded 3.2 basis points to 4.384%.
European stocks also closed lower, with the DAX 40 falling 1.02%, the CAC 40 down 1.17%, and the FTSE 100 down 1.55%.
U.S. WTI crude futures once dipped below the 90-dollar mark before settling at 94.81 dollars a barrel, down 27 cents on day.
Gold price pared gains to close 5 dollars lower at 4,685 dollars an ounce.
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The U.S. dollar avoided weakening further, with the dollar index keeping the level of 98.
Regarding U.S. economic data, the latest number of Initial jobless claims increased to 200,000, lower than market expectations.
The closely-watched U.S. monthly official jobs report will be released later on Friday. It is expected that the economy added 95,000 non-farm payrolls in April, with the jobless rate staying at 4.3%.
EUR/USD fell 22 pips (-0.11%) to 1.1726. Germany's factory orders climbed 5.0% month on month in March (vs +1.1% expected, +0.9% in February).
USD/JPY rebounded 54 pips to 156.92.
GBP/USD slipped 41 pips to 1.3552, and AUD/USD dropped 29 pips to 0.7208.
USD/CHF advanced 18 pips to 0.7806, and USD/CAD climbed 31 pips to 1.3665.
Bitcoin retreated 2% to levels around the level of 80,000 dollars, ending a three-session rally.
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In Asian trading hours, the market's focus returned to the U.S.-Iran conflict, as the US military reported strikes on Iranian military targets in retaliation against Iran's attack on three US destroyers in the Strait of Hormuz.
U.S. WTI crude futures traded slightly higher to 95.50 dollars a barrel, and gold returned to levels above 4,700 dollars an ounce.
Meanwhile, forex pairs were little changed, with EUR/USD trading at 1.1727, and USD/JPY at 156.89.
Bitcoin eased further to 79,600 dollars.
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The U.S. monthly official jobs report is expected to show an addition of 95,000 non-farm payrolls in April.
The U.S. University of Michigan consumer sentiment index is expected to edge up to 50.
Canada may report an addition of 20,000 employed people in April.
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