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Market Wrap: Stocks, Bonds, Commodities |
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On Monday, major U.S. stock indexes opened lower following U.S. and Israeli air strikes on Iran over the weekend, but managed to pare most losses at close.
The Dow Jones closed just 73 points lower (-0.15%) at 48,904.
The S&P 500 edged up 2 points (+0.04%) to 6,881, and the Nasdaq 100 added 32 points (+0.13%) to 24,992.
Oil prices jumped amid fears of oil-supply disruption in the Middle East, with U.S. WTI crude futures settling 4.21 dollars higher (+6.28%) at 71.23 dollars a barrel.
Energy stocks advanced alongside oil prices, with Marathon Petroleum (MPC) climbing 5.86%, and Valero Energy (VLO) up 5.02%.
Defense stocks also rallied, with Northrop Grumman (NOC) jumping 6.02%, and Lockheed Martin (LMT) up 2.83%.
However, airline stocks were pressured by rising oil prices and potential flight disruptions, with Delta Air Lines (DAL) declining 2.21%, and United Airlines (UAL) down 2.91%.
Palantir Technologies (PTLR), which is a major supplier of artificial-intelligence technology to the U.S. Department of Defense, gained 5.82%.
Nvidia (NVDA) announced plans to invest 2 billion dollars each in photonic product makers Lumentum (LITE) and Coherent (COHR). Nvidia gained 2.99%, Lumentum surged 11.75%, and Coherent was up 15.44%.
Berkshire Hathaway (BRKB) slid 4.91% after reporting a more than 29% decline in quarterly operating earnings.
The U.S. 10-year Treasury yield rebounded 8.7 basis points to 4.036%.
European stocks closed sharply lower, with the DAX 40 falling 2.56%, the CAC 40 down 2.17%, and the FTSE 100 down 1.20%.
Gold closed 43 dollars higher at 5,322 dollars an ounce, but silver dropped 4.44 dollars (-4.73%) to 89.35 dollars an ounce.
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The U.S. dollar rose across the board following U.S. and Israeli military actions against Iran, with the dollar index jumping to 98.52.
Regarding U.S. economic data, the Institute for Supply Management (ISM) manufacturing index posted at 52.4 for February, still an expansion reading.
EUR/USD fell 118 pips (-1.00%) to 1.1695.
USD/JPY rose 132 pips to 157.35, and USD/CHF advanced 103 pips (+1.34%) to 0.7790.
GBP/USD dropped 78 pips to 1.3406, and AUD/USD declined 25 pips to 0.7088.
USD/CAD added 26 pips to 1.3668.
Bitcoin regained some traction, bouncing 3,700 dollars or 5.6% to 69,470 dollars.
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In Asian trading hours, USD/JPY was broadly steady at 157.25. Japan's jobless rate edged up to 2.7% in January, above 2.6% expected.
Meanwhile, EUR/USD and GBP/USD both remained subdued, at 1.1690 and 1.3408 respectively.
Gold bounced to 5,366 dollars.
Bitcoin held gains at 68,498 dollars.
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The eurozone's inflation rate is expected to stay at 1.7% year-on-year in February.
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