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Market Wrap: Stocks, Bonds, Commodities |
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On Monday, both the S&P 500 (up 8 points or 0.12% to 7,173) and the Nasdaq 100 (up 2 points or 0.01% to 27,305) managed to edge up to mark record-high closing levels.
Meanwhile, the Dow Jones closed 62 points lower (-0.13%) at 49,167.
Investors turned cautious as the week will see five of the Magnificent Seven tech giants, Amazon (AMZN), Alphabet (GOOGL), Meta (META), Microsoft (MSFT) and Apple (AAPL), report quarterly earnings.
Plus, the U.S. Federal Reserve will decide on interest rates on Wednesday.
Nvidia (NVDA) gained 4.00%, outperforming other tech giants and raising its market cap back to the level of 5 trillion dollars.
Intel (INTC) advanced a further 2.97% after surging 24% last Friday.
Micron (MU) rose 5.60%, and Sandisk (SNDK) was up 8.11%.
On the other hand, Arm Holdings (ARM) slid 8.06%, Advanced Micro Devices (AMD) fell 3.79%, and Marvell Technology (MRVL) was down 3.71%.
In fact, the iShares PHLX SOX Semiconductor Sector Index Fund (SOXX) retreated 1.34%, ending a record 18-session winning streak.
Domino's Pizza (DPZ) sank 8.84% after reporting lower-than-expected quarterly sales.
Adobe (ADBE) slid 2.50%. The stock was downgraded to "neutral" at Mizuho.
The U.S. 10-year Treasury yield gained 3.4 basis points to 4.340%.
European stocks declined further, with the DAX 40 falling 0.19%, the CAC 40 down 0.19%, and the FTSE 100 down 0.56%.
U.S. WTI crude futures settled 1.97 dollars higher (+2.09%) to 96.37 dollars a barrel.
Gold price eased 27 dollars to 4,681 dollars an ounce.
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The forex market was steady with the dollar index dipping to 98.49.
The U.S. Federal Reserve, the European Central Bank, and the Bank of England are expected to hold rates steady this week.
EUR/USD edged up 2 pips to 1.1722. Germany’s latest GfK consumer confidence index fell to -33.3 from -28.1.
GBP/USD closed just 2 pips higher at 1.3533, and AUD/USD increased 38 pips to 0.7186.
USD/JPY gained 4 pips to 159.41.
USD/CHF climbed 11 pips to 0.7855, while USD/CAD retreated 37 pips to 1.3631.
Bitcoin bounced up to 79,500 dollars intraday before stepping back to 77,000 dollars.
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In Asian trading hours, USD/JPY retreated to 159.05 after the Bank of Japan kept its benchmark rate unchanged at 0.75% as expected. On the other hand, Japan's jobless rate climbed to 2.7% in March, in line with expectations.
Meanwhile, EUR/USD slipped to 1.1710 and GBP/USD dropped to 1.3522.
Gold was down to 4,669 dollars.
Bitcoin fell to 76,704 dollars.
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In the U.S., the Conference Board consumer confidence index is expected to drop to 88.9 in April, while the Richmond Fed manufacturing index is estimated to climb to 6.
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