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Market Wrap: Stocks, Bonds, Commodities |
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On Friday, U.S. stocks edged lower, with the S&P 500 declining 29 points (-0.43%) to 5,878, and the Nasdaq 100 down 74 points (-0.30%) to 24,960.
The Dow Jones dropped 521 points (-1.05%) to 48,977.
Nvidia (NVDA) lost a further 4.16% after sliding over 5% in the prior session.
At the same time, Apple (AAPL) fell 3.21%, and Microsoft (MSFT) dropped 2.24%, while Alphabet (GOOGL) rose 1.42%, and Amazon (AMZN) was up 1.00%.
Netflix (NFLX) surged 13.77% after exiting the race for Warner Bros Discovery. Paramount Skydance said it would acquire Warner Bros for 110 billion dollars and paid the 2.8-billion-dollar termination fee that Warner Bros owed Netflix.
Dell Technologies (DELL) surged 21.93%. The company reported better-than-expected quarterly results, and offered an upbeat outlook for fiscal year 2027, citing growing demand for its AI-optimized servers.
Block (XYZ) jumped 16.82% after announcing plans to cut its workforce by nearly a half, from over 10,000 to around 6,000.
CoreWeave (CRWV) plummeted 18.51%. The artificial intelligence-focused cloud infrastructure provider posted a bigger-than-expected quarterly loss, and gave a downbeat revenue guidance for the current quarter.
The U.S. 10-year Treasury yield slipped a further 6.1 basis points to 3.949%, the lowest level since last October.
In Europe, the FTSE 100 (up 0.59% to 10,910) marked a record-high closing level for the third straight session.
The DAX 40 edged down 0.02%, while the CAC 40 dropped 0.47%.
On Saturday (February 28), the U.S. and Israel launched a long-anticipated attack against Iran, launching multiple air strikes across the country.
U.S. President Donald Trump announced, and Iranian state media later confirmed, that Iranian Supreme Leader Ayatollah Ali Khamenei was killed in the attack.
Iran warned that the Strait of Hormuz, the most important waterway in the world for the global oil trade, could be closed.
As a result, amid fears of oil-supply disruption, U.S. WTI crude jumped over 5 dollars or 8% to 72.44 dollars a barrel in Asian morning hours.
Gold rose 87 dollars (+1.64%) to a 1-month high at 5,366 dollars an ounce.
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On Monday morning, the U.S. dollar rose against other major currencies, with the dollar index climbing to 97.89.
U.S. producer price inflation slowed to 2.9% year on year in January (as expected).
EUR/USD slid 46 pips to 1.1772. Germany's inflation rate eased to 1.9% year on year in February, lower than expected.
USD/JPY rose 41 pips to 156.48.
GBP/USD fell 73 pips to 1.3410, AUD/USD dropped 52 pips to 0.7064.
USD/CHF was little changed at 0.7694.
USD/CAD gained 23 pips to 1.3668. Canada's gross domestic product shrank at an annualized rate of 0.6% in the fourth quarter, worse than expected.
Bitcoin traded 2% lower to 65,600 dollars.
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In Asian trading hours, EUR/USD edged up to 1.1785 and GBP/USD rebounded to 1.3440.
Meanwhile, USD/JPY eased to 156.35.
Gold held gains at 5,357 dollars.
Bitcoin was little changed at 66,350 dollars.
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Germany's retail sales are estimated to increase by 0.5% month-on-month in January.
In the U.S., the ISM manufacturing purchasing managers index is expected to slip to 51.3 in February.
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