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Market Wrap: Stocks, Bonds, Commodities |
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On Friday, major U.S. indexes finished lower, led by a sharp decline in technology and AI-linked stocks that sent the Nasdaq 100 down 2.50%, while energy and defensive sectors outperformed. The S&P 500 retreated 85 points (-1.09%) to 7,659, the Nasdaq 100 dropped 748 points (-2.50%) to 29,188, and the Dow Jones declined 175 points (-0.34%) to 52,002.
The U.S. 10-year Treasury yield edged up to 5.085%. U.S. industrial production rose 0.7% month-on-month in September, above the 0.4% expected.
Super Micro Computer (SMCI) tumbled 9.85% as lingering accounting and governance concerns resurfaced following the appointment of a new CFO.
Twilio (TWLO) slid 10.60% as investors locked in profits after a nearly 90% year-to-date rally, amid concerns that expectations around AI-driven growth may have moved ahead of fundamentals.
APA Corporation (APA) rose 4.00% after several analysts raised their price targets.
Kinder Morgan (KMI) rose 4.20% ahead of its October 21 earnings report, with quarterly EPS expected to increase 13.8% year-on-year to 0.33 dollars.
Meta Platforms (META) fell 3.72% as the broader technology and AI trade came under renewed pressure, with investors growing more cautious over heavy AI capital spending ahead of the company's October 21 earnings report.
In Europe, the DAX 40 gained 0.95%, the CAC 40 rose 0.28%, and the FTSE 100 advanced 0.38%.
In the commodities market, spot gold slipped 5 dollars (-0.13%) to 4,166 dollars an ounce. U.S. WTI crude futures (December) surged 2.52 dollars (+2.61%) to 99.02 dollars a barrel, tending its rally to a seventh session.
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The U.S. dollar weakened, with the Dollar Index declining 0.3% to 101.78.
EUR/USD gained 19 pips (+0.17%) to 1.1237. The eurozone recorded a trade deficit of 16.1 billion euros in August, compared with an estimated surplus of 14.7 billion euros.
GBP/USD advanced 53 pips (+0.40%) to 1.3326.
USD/JPY was unchanged at 157.98.
USD/CHF retreated 32 pips (-0.39%) to 0.8235.
AUD/USD gained 25 pips (+0.36%) to 0.6944, while USD/CAD declined 46 pips (-0.32%) to 1.4137.
Bitcoin fell 452 dollars (-0.55%) to 81,547 dollars.
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In Asian trading hours, EUR/USD eased to 1.1227, while GBP/USD was little changed at 1.3328.
Meanwhile, USD/JPY was broadly flat at 157.95.
On the other hand, data showed that China's third-quarter gross domestic product rose 4.5% year-on-year (vs +4.4% estimated).
U.S. WTI crude futures (December) retreated 1.50 dollars to 97.52 dollars a barrel following a late-Friday executive order signed by U.S. President Trump that waived new sanctions on Russian energy exports.
Spot gold climbed to 4,173 dollars an ounce.
Bitcoin advanced to 82,396 dollars.
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Canada's core inflation rate is projected to hold steady at 2.4% year-on-year in September.
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