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Market Wrap: Stocks, Bonds, Commodities |
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On Monday, major U.S. stock indexes achieved record closing levels again after posting modest gains, with the S&P 500 adding 19 points (+0.26%) to 7,599, and the Nasdaq 100 up 180 points (+0.60%) to 30,513.
The Dow Jones gained 46 points (+0.09%) to 51,078.
Nvidia (NVDA) rose 6.26%. The chip giant unveiled RTX Spark, a new chip that embeds artificial intelligence capabilities into personal computers using Microsoft’s (MSFT) Windows systems.
Microsoft (MSFT), a collaborator in the development of the RTX Spark chip, rose 2.28%.
Dell Technologies (DELL) jumped 10.70%, and HP Inc (HPQ) bounced 8.51%. These companies’ personal-computer products are among the first to be equipped with Nvidia’s new chip.
On the other hand, Qualcomm (QCOM) fell 8.78%, Intel (INTC) dropped 4.67%, and Advanced Micro Devices (AMD) was down 1.16%, as Nvidia’s new chip may pose competition against those companies’ chip products.
Micron Technology (MU) gained 6.64%, closing above the key level of 1,000 dollars for the first time.
MGM Resorts International (MGM) climbed 16.08%. Media mogul Barry Diller's People Inc. offered to buy the casino operator for 18 billion dollars or 48.30 dollars per share.
Hewlett Packard Enterprise (HPE) closed 9.20% higher and soared 25% in after-market hours. Driven by surging demand for artificial-intelligence infrastructure, the enterprise technology infrastructure provider gave a strong quarterly earnings report and raised its business outlook.
The U.S. 10-year Treasury closed 1.6 basis points higher at 4.453%, halting a seven-session decline.
European stocks closed lower, with the DAX 40 falling 0.40%, the CAC 40 down 0.45%, and the FTSE 100 down 0.68%.
Oil prices were boosted by a lack of obvious progress in the U.S.-Iran peace deal. U.S. WTI crude futures rose 4.80 dollars (+5.49%) to 92.16 dollars a barrel.
Gold retreated 55 dollars (-1.21%) to 4,485 dollars an ounce.
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The U.S. dollar traded higher as tensions between the U.S. and Iran showed no further signs of easing.
Meanwhile, the U.S. Institute for Supply Management (ISM) manufacturing index improved to 54.0 in May, better than expected.
EUR/USD fell 28 pips to 1.1631.
Germany’s retail sales declined 0.3% month on month in April (as expected).
USD/JPY gained 40pips (+0.25%) to 159.66, close to the psychologically-important level of 160.
Traders are closely watching a speech by Bank of Japan Governor Kazuo Ueda on Wednesday for possible rate-hike signals.
GBP/USD was little changed at 1.3454, while AUD/USD declined 25 pips to 0.7158.
USD/CHF rose 54 pips to 0.7864, and USD/CAD was up 46 pips to 1.3841.
Bitcoin saw its recent weakness extend, sliding 3% to 71,400 dollars.
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