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Market Wrap: Stocks, Bonds, Commodities |
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On Thursday, the Dow Jones rose 594 points (+1.14%) to 52,900, marking a record closing level for a third consecutive session, after U.S. jobs data came in softer than expected.
The Nasdaq 100, on the other hand, sank another 479 points (-1.61%) to 29,329, dragged down again by heavy losses in semiconductor stocks.
The S&P 500 closed flat at 7,483.
The closely watched U.S. official jobs report showed the economy added just 57,000 nonfarm payrolls in June, far below the 110,000 expected, while the jobless rate ticked down to 4.2%.
As a result, market expectations for an interest-rate hike by the Federal Reserve faded.
The U.S. 10-year Treasury yield was little changed at 4.485%.
Apple (AAPL) rose 4.84%, posting a three-session rally.
Tesla (TSLA) fell 7.49%, halting a four-session rebound, despite the electric-vehicle maker’s second-quarter vehicle deliveries exceeding market expectations.
Meta (META) retreated 4.90%, giving back some of the prior session's 9% gain, which had come on news that the company is developing a new cloud business selling excess computing power to outside customers.
Semiconductor stocks faced heavy selling pressure for a second consecutive session, with Lam Research (LRCX) tumbling 10.19%, Marvell Technology (MRVL) down 9.84%, Applied Materials (AMAT) down 7.35%.
Micron (MU) also fell 5.49%, Intel (INTC) dropped 5.25%, and Advanced Micro Devices (AMD) was down 4.26%.
SanDisk (SNDK) lost 14.13%, Seagate Technology (STX) slid 10.38%, and Western Digital (WDC) was down 9.92%.
Bitcoin kept rebounding, lifting related stocks, with Microstrategy (MSTR) gaining 7.90%, and Coinbase (COIN) up 3.92%.
European stocks closed higher, with the DAX 40 gaining 2.16%, the CAC 40 up 1.65%, and the FTSE 100 was up 1.67%.
U.S. WTI crude futures edged up 0.11 dollars to 68.69 dollars a barrel.
Gold rebounded 91 dollars (+2.28%) to 4,123 dollars an ounce.
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The U.S. dollar fell sharply amid the softer-than-expected June jobs report, with the dollar index falling past the level of 101.
EUR/USD rose 56 pips to 1.1432.
USD/JPY fell 147 pips (-0.91%) to 161.09. Fears of market intervention by Japanese authorities added further fuel to the yen’s surge against the dollar.
GBP/USD climbed 75 pips to 1.3346, and AUD/USD gained 29 pips to 0.6920.
USD/CHF slipped 62 pips to 0.8031, and USD/CAD was down 34 pips to 1.4181.
Bitcoin rebounded for a second consecutive session, adding over 2% to 61,400 dollars.
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In Asian trading hours, EUR/USD advanced to 1.1440 and GBP/USD rose to 1.3361.
Meanwhile, USD/JPY edged up to 161.17.
Gold extended its rally to 4,185 dollars.
Bitcoin held gains at 61,340 dollars.
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The U.S. stock market will be closed for the Independence Day.
France's industrial production is estimated to drop 0.4% month-on-month in May.
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