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Market Wrap: Stocks, Bonds, Commodities |
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On Friday, both the S&P 500 (up 21 points or 0.29% to 7,230) and the Nasdaq 100 (up 258 points or 0.94% to 27,710) marked record-high closing levels for a second straight session.
Meanwhile, the Dow Jones declined 152 points (-0.31%) to 49,499.
On a weekly basis, both the S&P 500 and the Nasdaq 100 were up for five consecutive weeks.
Apple (AAPL) gained 3.24% after reporting upbeat quarterly results, outperforming other tech giants.
Tesla (TSLA) rose 2.41%, Microsoft (MSFT) climbed 1.63%, and Amazon (AMZN) was up 1.21%.
Stocks that became popular among investors recently also posted solid gains, with Sandisk (SNDK) jumping 8.25%, Seagate Technology (STX) up 7.91%, Intel (INTC) up 5.44%, and Micron (MU) up 4.84%. They all scored record closes.
Eli Lilly (LLY) advanced 3.07% after bouncing nearly 10% in the prior session, as strong demand for the company’s weight-loss and diabetes drugs boosted quarterly results and outlook.
Veeva Systems (VEEV) closed 10.02% higher, as the cloud-software maker was named a S&P 500 constituent.
The U.S. 10-year Treasury yield eased less than one basis point to 4.372%.
Both Germany’s and France’s markets were closed for the Labor Day holiday on Friday, while the FTSE 100 closed 0.14% lower.
On Monday, in early Asian trading hours, U.S. WTI crude futures dipped further to test support at the level of 100 dollars a barrel. U.S. President Donald Trump just said the U.S. will begin escorting ships through the Strait of Hormuz starting Monday.
And Iran said it had received a U.S. response to its latest offer for peace talks.
Gold price remained stable at levels above 4,600 dollars an ounce.
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On Monday, in early Asian trading hours, the U.S. dollar softened, with the dollar index easing to 98.11.
The U.S. Institute for Supply Management (ISM) manufacturing index remained steady at 52.7 in April.
EUR/USD rebounded to 1.1738, and GBP/USD traded higher to 1.3590.
USD/JPY pulled back 38 pips to 156.69.
AUD/USD climbed to 0.7220, the highest level in nearly four years.
USD/CHF dipped 13 pips to 0.7808, and USD/CAD edged down 7 pips to 1.3584.
Bitcoin remained buoyed, surpassing the level of 79,000 dollars.
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In Asian trading hours, Bitcoin surpassed the level of 80,000 dollars.
AUD/USD kept trading at elevated levels above 0.7200.
EUR/USD eased to 1.1726, while USD/JPY rebounded to 157.22.
U.S. WTI crude futures managed to stay above 101 dollars a barrel, while gold was holding at 4,610 dollars an ounce.
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U.S. factory orders are expected to grow 0.5% month on month in March.
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