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Market Wrap: Stocks, Bonds, Commodities |
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On Monday, U.S. stocks closed lower, with the The S&P 500 slipping 29 points (-0.41%) to 7,200, and the Nasdaq 100 down 58 points (-0.21%) to 27,651.
The Dow Jones dropped 557 points (-1.13%) to 48,941.
Market sentiment was dampened by rebounding oil prices amid renewed fighting in the Middle East. The United Arab Emirates reported that an Iranian drone attack had caused fire at a petroleum complex.
U.S. WTI crude futures settled 4.48 dollars higher (+4.39%) at 106.42 dollars a barrel.
eBay (EBAY) gained 5.05% while GameStop (GME) tumbled 10.14%. GameStop made an offer to buy eBay for 56 billion dollars.
Amazon (AMZN) rose 1.41% to a record closing level, while United Parcel Service (UPS) plunged 10.48% and FedEx (FDX) was down 9.11%. Amazon said it is opening up its logistics services - Amazon Supply Chain Services - to other businesses, challenging a market long dominated by UPS and FedEx.
Bitcoin reclaimed the level of 80,000 dollars, lifting related stocks, with Coinbase (COIN) rising 6.14% and Strategy (MSTR) up 3.74%.
Norwegian Cruise Line (NCLH) fell 8.56% after cutting its full-year earnings forecast. Peer Carnival (CCL) slipped 3.71%.
Advanced Micro Devices (AMD) declined 5.27%. HSBC downgraded the stock to "hold" from "buy". The company will report quarterly results after the bell on Tuesday.
Palantir (PLTR) closed 1.47% higher, and was stable in after-market hours after posting better-than-expected quarterly results and raising its full-year revenue forecast.
The U.S. 10-year Treasury yield rebounded 6 basis points to 4.432%.
European stocks also closed lower, with the DAX40 falling 1.24%, and the CAC 40 down 1.71%. The U.K. market was closed for a bank holiday.
Gold price dropped 90 dollars (-1.96%) to 4,523 dollars an ounce, a one-month low.
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The U.S. dollar regained some strength against other major currencies, with the dollar index rebounding to 98.44.
U.S. factory orders increased 1.5% month on month in March, more than expected and marking a third consecutive month of growth.
EUR/USD declined 32 pips to 1.1688.
USD/JPY gained 19 pips to 157.22. The yen showed a brief upward spike during the session on Monday, sparking speculation of a market intervention by Japanese authorities again.
GBP/USD slipped 46 pips to 1.3526.
AUD/USD retreated 38 pips to 0.7165.
USD/CHF rebounded 24 pips to 0.7839, and USD/CAD advanced 33 pips to 1.3621.
Bitcoin regained the level of 80,000 dollars, which was last seen at end-January.
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In Asian trading hours, AUD/USD edged up to 0.7170. As expected, Australia's central bank raised its key interest rate by 25 basis points to 4.35%.
EUR/USD was stable at 1.1685, and USD/JPY was largely flat at 157.26.
U.S. WTI crude futures retreated 2% to 104.20 dollars a barrel, while gold rebounded to 4,533 dollars an ounce.
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U.S. trade deficit is expected to widen to 61.4 billion dollars in March.
U.S. new home sales are expected to increase 4.9% month on month in March.
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