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MARKET COMMENTARY
Market Wrap: Stocks, Bonds, Commodities
On Wednesday, U.S. stocks closed slightly higher after heavy gains in the prior session. The Dow Jones Industrial Average rose 163 points (+0.47%) to 34,991, the S&P 500 added 7 points (+0.16%) to 4,502, and the Nasdaq 100 was up 4 points (+0.03%) to 15,817.
The U.S. 10-year Treasury yield rebounded 9 basis points to 4.537%.
U.S. data showed that producer price growth slowed to 1.3% on year in October (vs 2.3% expected, 2.2% in September), and retail sales dropped 0.1% on month (vs +0.0% expected) marking the first decline since March.
Food & staples retailing (+2.47%), automobiles & components (+2.03%), and banks (+1.44%) stock sectors gained the most during the session.
Tesla (TSLA) advanced 2.29% extending its rally to a fourth session.
Microsoft (MSFT) dipped 0.16% from its record closing price marked Tuesday. The software giant unveiled the Maia 100 chip, the company's first custom artificial intelligence (AI) chip.
Target (TGT) surged 17.75%. The general-merchandise retailer reported better-than-expected quarterly earnings.
JD.com (JD) rose 7.04%. The Chinese e-commerce company's quarterly sales exceed market expectations.
VF Corp (VFC) jumped 14.13%. The outdoor apparel producer and retailer was upgraded to "neutral" at JPMorgan.
Walt Disney (DIS) climbed 3.14%, and Expedia (EXPE) gained 6.28%, on reports that activist investor ValueAct added stakes in both companies.
European stocks also closed higher. The DAX 40 rose 0.86%, the CAC 40 gained 0.33%, and the FTSE 100 was up 0.62%.
U.S. WTI crude futures fell $1.80 to $76.48 a barrel. The U.S. Department of Energy reported an addition of 3.59 million barrels in crude-oil stockpiles (vs +1.79 million barrels expected).
Gold price declined $4 to $1,959 an ounce.
Market Wrap: Forex
The U.S. dollar regained some strength against other major currencies. The dollar index climbed to 104.41.
EUR/USD fell 33 pips to 1.0846. The European Commission cut its 2023 growth forecast for both the European Union and the Eurozone to 0.6% from 0.8% previously.
Meanwhile, the Eurozone's industrial production dropped 1.1% on month in September (vs -0.5% expected).
USD/JPY climbed 100 pips to 151.37. This morning, Japan's data showed that exports grew 1.6% on year in October (vs +1.0% expected), and core machine orders increased 1.4% on month in September (vs +1.0% expected).
GBP/USD declined 87 pips to 1.2412. U.K. data showed that the inflation rate slowed to 4.6% on year in October (vs 4.9% expected).
AUD/USD was flat at 0.6507.
USD/CHF slipped 9 pips to 0.8882, and USD/CAD was down 11 pips to 1.3682.
Bitcoin showed upward momentum, as it jumped over 6% to $37,850.
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Market Wrap: Stocks, Bonds, Commodities
On Wednesday, U.S. stocks closed slightly higher after heavy gains in the prior session. The Dow Jones Industrial Average rose 163 points (+0.47%) to 34,991, the S&P 500 added 7 points (+0.16%) to 4,502, and the Nasdaq 100 was up 4 points (+0.03%) to 15,817.
The U.S. 10-year Treasury yield rebounded 9 basis points to 4.537%.
U.S. data showed that producer price growth slowed to 1.3% on year in October (vs 2.3% expected, 2.2% in September), and retail sales dropped 0.1% on month (vs +0.0% expected) marking the first decline since March.
Food & staples retailing (+2.47%), automobiles & components (+2.03%), and banks (+1.44%) stock sectors gained the most during the session.
Tesla (TSLA) advanced 2.29% extending its rally to a fourth session.
Microsoft (MSFT) dipped 0.16% from its record closing price marked Tuesday. The software giant unveiled the Maia 100 chip, the company's first custom artificial intelligence (AI) chip.
Target (TGT) surged 17.75%. The general-merchandise retailer reported better-than-expected quarterly earnings.
JD.com (JD) rose 7.04%. The Chinese e-commerce company's quarterly sales exceed market expectations.
VF Corp (VFC) jumped 14.13%. The outdoor apparel producer and retailer was upgraded to "neutral" at JPMorgan.
Walt Disney (DIS) climbed 3.14%, and Expedia (EXPE) gained 6.28%, on reports that activist investor ValueAct added stakes in both companies.
European stocks also closed higher. The DAX 40 rose 0.86%, the CAC 40 gained 0.33%, and the FTSE 100 was up 0.62%.
U.S. WTI crude futures fell $1.80 to $76.48 a barrel. The U.S. Department of Energy reported an addition of 3.59 million barrels in crude-oil stockpiles (vs +1.79 million barrels expected).
Gold price declined $4 to $1,959 an ounce.
Market Wrap: Forex
The U.S. dollar regained some strength against other major currencies. The dollar index climbed to 104.41.
EUR/USD fell 33 pips to 1.0846. The European Commission cut its 2023 growth forecast for both the European Union and the Eurozone to 0.6% from 0.8% previously.
Meanwhile, the Eurozone's industrial production dropped 1.1% on month in September (vs -0.5% expected).
USD/JPY climbed 100 pips to 151.37. This morning, Japan's data showed that exports grew 1.6% on year in October (vs +1.0% expected), and core machine orders increased 1.4% on month in September (vs +1.0% expected).
GBP/USD declined 87 pips to 1.2412. U.K. data showed that the inflation rate slowed to 4.6% on year in October (vs 4.9% expected).
AUD/USD was flat at 0.6507.
USD/CHF slipped 9 pips to 0.8882, and USD/CAD was down 11 pips to 1.3682.
Bitcoin showed upward momentum, as it jumped over 6% to $37,850.
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MARKET COMMENTARY
Market Wrap: Stocks, Bonds, Commodities
On Friday, major U.S. stock indexes were again little changed at close. The Dow Jones Industrial Average added 1 point to 34,947, the S&P 500 gained 5 points (+0.13%) to 4,514, and the Nasdaq 100 edged up 4 points (+0.03%) to 15,837.
On a weekly basis, the three major indexes all extended their rallies to a third week.
The U.S. 10-year Treasury yield was relatively flat at 4.437%.
Energy (+2.12%), retailing (+1.25%), and banks (+1.19%) stock sectors gained the most.
Microsoft (MSFT) retreated 1.68% from its record closing price marked in the prior session. OpenAI, in which Microsoft is the biggest investor, announced that its board has removed Sam Altman as chief executive officer.
Amazon.com (AMZN) advanced 1.65%, and Tesla (TSLA) was up 0.30%.
Gap (GPS) soared 30.58%, and Ross Stores (ROST) rose 7.22%. Both apparel retailers reported better-than-expected quarterly results.
Analog Devices (ADI) rose 1.78%. The chip-maker was upgraded to "overweight" at Morgan Stanley.
Intel (INTC) also climbed 1.06%.
Meanwhile, Applied Materials (AMAT) fell 4.02% on news that the chip-maker is facing a U.S. criminal investigation over alleged violation of restrictions on exports to China.
Regarding U.S. economic data, the number of housing starts increased 1.9% on month in October (vs -1.3% expected), and the number of building permits grew 1.1% (vs -1.5% expected).
European stocks closed higher, with the DAX 40 rising 0.84%, the CAC 40 up 0.91%, and the FTSE 100 up 1.26%.
U.S. WTI crude futures rebounded $2.80 (+3.84%) to $75.75 a barrel.
Gold price held steady at $1,980 an ounce.
Market Wrap: Forex
The U.S. dollar showed downward momentum against other major currencies, as the dollar index declined to 103.87.
EUR/USD jumped 57 pips to 1.0909.
USD/JPY broke below the 150.00 level for the first time in nearly two weeks, as it slid 106 pips to 149.67.
GBP/USD rose 49 pips to 1.2463. U.K. data showed that retail sales unexpectedly shrank 0.3% on month in October (vs +0.2% expected).
AUD/USD gained 45 pips to 0.6515.
USD/CHF fell 28 pips to 0.8859, and the USD/CAD dropped 38 pips to 1.3717.
Over the weekend, Bitcoin showed upward momentum pressing against the level of $37,000.
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Market Wrap: Stocks, Bonds, Commodities
On Friday, major U.S. stock indexes were again little changed at close. The Dow Jones Industrial Average added 1 point to 34,947, the S&P 500 gained 5 points (+0.13%) to 4,514, and the Nasdaq 100 edged up 4 points (+0.03%) to 15,837.
On a weekly basis, the three major indexes all extended their rallies to a third week.
The U.S. 10-year Treasury yield was relatively flat at 4.437%.
Energy (+2.12%), retailing (+1.25%), and banks (+1.19%) stock sectors gained the most.
Microsoft (MSFT) retreated 1.68% from its record closing price marked in the prior session. OpenAI, in which Microsoft is the biggest investor, announced that its board has removed Sam Altman as chief executive officer.
Amazon.com (AMZN) advanced 1.65%, and Tesla (TSLA) was up 0.30%.
Gap (GPS) soared 30.58%, and Ross Stores (ROST) rose 7.22%. Both apparel retailers reported better-than-expected quarterly results.
Analog Devices (ADI) rose 1.78%. The chip-maker was upgraded to "overweight" at Morgan Stanley.
Intel (INTC) also climbed 1.06%.
Meanwhile, Applied Materials (AMAT) fell 4.02% on news that the chip-maker is facing a U.S. criminal investigation over alleged violation of restrictions on exports to China.
Regarding U.S. economic data, the number of housing starts increased 1.9% on month in October (vs -1.3% expected), and the number of building permits grew 1.1% (vs -1.5% expected).
European stocks closed higher, with the DAX 40 rising 0.84%, the CAC 40 up 0.91%, and the FTSE 100 up 1.26%.
U.S. WTI crude futures rebounded $2.80 (+3.84%) to $75.75 a barrel.
Gold price held steady at $1,980 an ounce.
Market Wrap: Forex
The U.S. dollar showed downward momentum against other major currencies, as the dollar index declined to 103.87.
EUR/USD jumped 57 pips to 1.0909.
USD/JPY broke below the 150.00 level for the first time in nearly two weeks, as it slid 106 pips to 149.67.
GBP/USD rose 49 pips to 1.2463. U.K. data showed that retail sales unexpectedly shrank 0.3% on month in October (vs +0.2% expected).
AUD/USD gained 45 pips to 0.6515.
USD/CHF fell 28 pips to 0.8859, and the USD/CAD dropped 38 pips to 1.3717.
Over the weekend, Bitcoin showed upward momentum pressing against the level of $37,000.
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MARKET COMMENTARY
Market Wrap: Stocks, Bonds, Commodities
On Monday, U.S. stocks extended their rally to a fourth week. The Dow Jones Industrial Average rose 203 points (+0.58%) to 35,151, the S&P 500 gained 33 points (+0.74%) to 4,547, and the Nasdaq 100 jumped 189 points (+1.19%) to 16,027, its highest close since January 2022.
The U.S. 10-year Treasury yield eased a further 1.8 basis points to 4.420%.
Semiconductors (+1.82%), software & services (+1.78%), and telecoms services (+1.15%) stock sectors were market leaders.
Microsoft (MSFT) advanced 2.05% to $377.44, a fresh record close. The software giant has gained 59% so far this year, the best return since 1999.
Microsoft announced that Sam Altman and Greg Brockman, co-founders of artificial intelligence (AI) firm OpenAI, will join the company to head a new advanced AI research team.
Nvidia (NVDA) closed 2.25% higher at an all-time high of $504.09, extending its year-to-date gain to 250%. The chip-maker will report third-quarter results in after-market hours Tuesday (November 21).
Other big-tech stocks also closed in positive territory, with Meta Platforms (META) rising 1.47%, Apple (AAPL) up 0.93%, Alphabet (GOOGL) up 0.69%, Amazon.com (AMZN) up 0.65%, and Tesla (TSLA) up 0.55%.
Paramount Global (PARA) climbed 5.61%. The media company has sold its mixed martial arts unit Bellator MMA to the Professional Fighters League.
Meanwhile, Boeing (BA) rose 4.65%, as the plane-maker was upgraded to "buy" at Deutsche Bank.
Regarding U.S. economic data, the Conference Board leading index declined 0.8% on month in October (vs -0.6% expected).
U.S. markets will be closed Thursday for the Thanksgiving holiday, and will have a shortened session Friday.
In Europe, the DAX 40 declined 0.11%, and the FTSE 100 also eased 0.11%, while the CAC 40 gained 0.18%.
U.S. WTI crude futures added $1.50 to $77.57 a barrel.
Gold price retreated $3 to $1,977 an ounce.
Market Wrap: Forex
The U.S. dollar kept weakening against other major currencies. The dollar index fell to 103.47, the lowest level in over two months.
EUR/USD rose 26 pips to 1.0941. Germany's data showed that producer prices dropped 11.0% on year in October (vs -11.1% expected).
Moody's upgraded the outlook on Italy's sovereign rating to "stable", and upgraded Portugal's rating by two notches to "A3".
USD/JPY sank 123 pips (-0.82%) to 148.40.
GBP/USD rose 45 pips to 1.2507.
AUD/USD gained 43 pips to 0.6558.
USD/CHF dipped 8 pips to 0.8849, while the USD/CAD edged up 5 pips to 1.3728.
Bitcoin secured a footing at levels around $37,500.
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Market Wrap: Stocks, Bonds, Commodities
On Monday, U.S. stocks extended their rally to a fourth week. The Dow Jones Industrial Average rose 203 points (+0.58%) to 35,151, the S&P 500 gained 33 points (+0.74%) to 4,547, and the Nasdaq 100 jumped 189 points (+1.19%) to 16,027, its highest close since January 2022.
The U.S. 10-year Treasury yield eased a further 1.8 basis points to 4.420%.
Semiconductors (+1.82%), software & services (+1.78%), and telecoms services (+1.15%) stock sectors were market leaders.
Microsoft (MSFT) advanced 2.05% to $377.44, a fresh record close. The software giant has gained 59% so far this year, the best return since 1999.
Microsoft announced that Sam Altman and Greg Brockman, co-founders of artificial intelligence (AI) firm OpenAI, will join the company to head a new advanced AI research team.
Nvidia (NVDA) closed 2.25% higher at an all-time high of $504.09, extending its year-to-date gain to 250%. The chip-maker will report third-quarter results in after-market hours Tuesday (November 21).
Other big-tech stocks also closed in positive territory, with Meta Platforms (META) rising 1.47%, Apple (AAPL) up 0.93%, Alphabet (GOOGL) up 0.69%, Amazon.com (AMZN) up 0.65%, and Tesla (TSLA) up 0.55%.
Paramount Global (PARA) climbed 5.61%. The media company has sold its mixed martial arts unit Bellator MMA to the Professional Fighters League.
Meanwhile, Boeing (BA) rose 4.65%, as the plane-maker was upgraded to "buy" at Deutsche Bank.
Regarding U.S. economic data, the Conference Board leading index declined 0.8% on month in October (vs -0.6% expected).
U.S. markets will be closed Thursday for the Thanksgiving holiday, and will have a shortened session Friday.
In Europe, the DAX 40 declined 0.11%, and the FTSE 100 also eased 0.11%, while the CAC 40 gained 0.18%.
U.S. WTI crude futures added $1.50 to $77.57 a barrel.
Gold price retreated $3 to $1,977 an ounce.
Market Wrap: Forex
The U.S. dollar kept weakening against other major currencies. The dollar index fell to 103.47, the lowest level in over two months.
EUR/USD rose 26 pips to 1.0941. Germany's data showed that producer prices dropped 11.0% on year in October (vs -11.1% expected).
Moody's upgraded the outlook on Italy's sovereign rating to "stable", and upgraded Portugal's rating by two notches to "A3".
USD/JPY sank 123 pips (-0.82%) to 148.40.
GBP/USD rose 45 pips to 1.2507.
AUD/USD gained 43 pips to 0.6558.
USD/CHF dipped 8 pips to 0.8849, while the USD/CAD edged up 5 pips to 1.3728.
Bitcoin secured a footing at levels around $37,500.
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For the next four days only, buy one and get TWO free!
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Almost ending
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MARKET COMMENTARY
Market Wrap: Stocks, Bonds, Commodities
On Friday, U.S. stocks saw relatively quiet trading in the Thanksgiving-holiday-shortened session. The Dow Jones Industrial Average gained 117 points (+0.33%) to 35,390, the S&P 500 added 2 points (+0.06%) to 4,559, while the Nasdaq 100 declined 19 points (-0.12%) to 15,982.
Meanwhile, on a weekly basis, the three major indexes all posted a four-week rally.
The U.S. 10-year Treasury yield rose 6.2 basis points to 4.467%.
The S&P Global U.S. manufacturing purchasing managers index (PMI) slipped to a contraction reading of 49.4 in November (vs 50.0 expected).
Food & staples retailing (+0.64%), automobiles & components (+0.59%), and pharmaceuticals & biotechnology (+0.58%) stock sectors gained the most, while media (-0.76%), semiconductors (-0.61%), and technology hardware & equipment (-0.51%) sectors lagged behind.
Nvidia (NVDA) contributed to the pressure on the Nasdaq 100 index as it slid a further 1.93%. Reuters reported that the chip-maker is delaying the launch of a new artificial intelligence chip for Chinese customers.
Tesla (TSLA) closed 0.53% higher. The electric-vehicle maker is facing a labor strike in Sweden.
iRobot Corp (IRBT) surged 39.08% on news that the European Union is likely to approve the robot-vacuum maker's $1.4 billion acquisition by Amazon.com (AMZN).
Baidu (BIDU) climbed 2.73%. The Chinese tech giant was upgraded to "buy" at Nomura.
European stocks stayed firm. The DAX 40 rose 0.22%, the CAC 40 climbed 0.20%, and the FTSE 100 edged up 0.06%.
Gold price gained $8 (+0.43%) to reach $2,000 an ounce.
U.S. WTI crude oil futures retreated $1.56 (-2.02%) to $75.54 a barrel.
Market Wrap: Forex
The U.S. dollar kept weakening against other major currencies. The dollar index declined to 103.37.
EUR/USD rose 42 pips to 1.0947. In Germany, the Ifo business climate index climbed to 87.3 in November (vs 87.7 expected).
USD/JPY declined 9 pips to 149.47.
GBP/USD climbed 72 pips to 1.2606. In the U.K., the GfK Consumer confidence index improved to -24 in November (vs -28 expected).
AUD/USD gained 31 pips to 0.6589.
USD/CHF fell 24 pips to 0.8818.
USD/CAD dropped 68 pips to 1.3628. Canada's data showed that retail sales grew 0.6% on month in September (vs zero growth expected).
Bitcoin bounced to a year-to-date high of $38,454 before retreating to $37,700.
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Market Wrap: Stocks, Bonds, Commodities
On Friday, U.S. stocks saw relatively quiet trading in the Thanksgiving-holiday-shortened session. The Dow Jones Industrial Average gained 117 points (+0.33%) to 35,390, the S&P 500 added 2 points (+0.06%) to 4,559, while the Nasdaq 100 declined 19 points (-0.12%) to 15,982.
Meanwhile, on a weekly basis, the three major indexes all posted a four-week rally.
The U.S. 10-year Treasury yield rose 6.2 basis points to 4.467%.
The S&P Global U.S. manufacturing purchasing managers index (PMI) slipped to a contraction reading of 49.4 in November (vs 50.0 expected).
Food & staples retailing (+0.64%), automobiles & components (+0.59%), and pharmaceuticals & biotechnology (+0.58%) stock sectors gained the most, while media (-0.76%), semiconductors (-0.61%), and technology hardware & equipment (-0.51%) sectors lagged behind.
Nvidia (NVDA) contributed to the pressure on the Nasdaq 100 index as it slid a further 1.93%. Reuters reported that the chip-maker is delaying the launch of a new artificial intelligence chip for Chinese customers.
Tesla (TSLA) closed 0.53% higher. The electric-vehicle maker is facing a labor strike in Sweden.
iRobot Corp (IRBT) surged 39.08% on news that the European Union is likely to approve the robot-vacuum maker's $1.4 billion acquisition by Amazon.com (AMZN).
Baidu (BIDU) climbed 2.73%. The Chinese tech giant was upgraded to "buy" at Nomura.
European stocks stayed firm. The DAX 40 rose 0.22%, the CAC 40 climbed 0.20%, and the FTSE 100 edged up 0.06%.
Gold price gained $8 (+0.43%) to reach $2,000 an ounce.
U.S. WTI crude oil futures retreated $1.56 (-2.02%) to $75.54 a barrel.
Market Wrap: Forex
The U.S. dollar kept weakening against other major currencies. The dollar index declined to 103.37.
EUR/USD rose 42 pips to 1.0947. In Germany, the Ifo business climate index climbed to 87.3 in November (vs 87.7 expected).
USD/JPY declined 9 pips to 149.47.
GBP/USD climbed 72 pips to 1.2606. In the U.K., the GfK Consumer confidence index improved to -24 in November (vs -28 expected).
AUD/USD gained 31 pips to 0.6589.
USD/CHF fell 24 pips to 0.8818.
USD/CAD dropped 68 pips to 1.3628. Canada's data showed that retail sales grew 0.6% on month in September (vs zero growth expected).
Bitcoin bounced to a year-to-date high of $38,454 before retreating to $37,700.
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Market Wrap: Stocks, Bonds, Commodities
On Friday, U.S. stocks started December trading on an upbeat note. The Dow Jones Industrial Average rose 294 points (+0.82%) to 36,245, the highest close year to date, the S&P 500 climbed 26 points (+0.59%) to 4,594, also the highest close so far in 2023, and the Nasdaq 100 was up 49 points (+0.31%) to 15,997.
On a weekly basis, all three major indexes extended their gains to a fifth consecutive week.
The U.S. 10-year Treasury yield sank a further 11.6 basis points to 4.210%.
U.S. Federal Reserve Chairman Jerome Powell said the risk of under- or over-tightening is now more balanced, while reiterating that the central bank was ready to further tighten monetary policy if necessary.
U.S. data showed that the Institute for Supply Management (ISM) manufacturing purchasing managers index remained unchanged at 46.7 in November (vs 47.2 expected).
Consumer durables & apparel (+3.14%), transportation (+2.8%), and real estate (+2.06%) stock sectors gained the most Friday.
Microsoft (MSFT) retreated 1.16%, the biggest loss among big-tech stocks.
MicroStrategy (MSTR) gained 5.90%. The software firm announced an additional acquisition of 16,130 bitcoins boosting its total holding to 174,530 bitcoins, the biggest one among listed companies.
Walt Disney (DIS) dipped 0.12% after announcing a cash dividend of $0.30 per share, its first in four years.
After reporting quarterly results, Ulta Beauty (ULTA) surged 10.81%, while Marvell Technology (MRVL) fell 5.26%, and Dell Technologies (DELL) slid 5.19%.
European stocks also ended higher, with the DAX 40 rising 1.12%, the CAC 40 up 0.48%, and the FTSE 100 up 1.01%.
U.S. WTI crude oil fell $1.71 (-2.25%) to $74.25 a barrel.
Gold price touched an all-time high of $2,075 an ounce.
Market Wrap: Forex
The U.S. dollar saw its recent downtrend resume, as the dollar index pulled back to 103.22.
EUR/USD dipped 7 pips to 1.0881.
USD/JPY fell 135 pips to 146.85.
GBP/USD rose 85 pips to 1.2709. In the U.K., the Nationwide housing price index gained 0.2% on month in November (vs +0.4% expected).
AUD/USD climbed 70 pips to 0.6675.
USD/CHF declined 60 pips to 0.8692.
USD/CAD lost 65 pips to 1.3496. Canada's data showed that employment increased by 24,900 in November (vs +20,000 expected), while the jobless rate edged up to 5.8% (as expected).
Over the weekend, Bitcoin remained buoyed while approaching the key level of $40,000.
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On Friday, U.S. stocks started December trading on an upbeat note. The Dow Jones Industrial Average rose 294 points (+0.82%) to 36,245, the highest close year to date, the S&P 500 climbed 26 points (+0.59%) to 4,594, also the highest close so far in 2023, and the Nasdaq 100 was up 49 points (+0.31%) to 15,997.
On a weekly basis, all three major indexes extended their gains to a fifth consecutive week.
The U.S. 10-year Treasury yield sank a further 11.6 basis points to 4.210%.
U.S. Federal Reserve Chairman Jerome Powell said the risk of under- or over-tightening is now more balanced, while reiterating that the central bank was ready to further tighten monetary policy if necessary.
U.S. data showed that the Institute for Supply Management (ISM) manufacturing purchasing managers index remained unchanged at 46.7 in November (vs 47.2 expected).
Consumer durables & apparel (+3.14%), transportation (+2.8%), and real estate (+2.06%) stock sectors gained the most Friday.
Microsoft (MSFT) retreated 1.16%, the biggest loss among big-tech stocks.
MicroStrategy (MSTR) gained 5.90%. The software firm announced an additional acquisition of 16,130 bitcoins boosting its total holding to 174,530 bitcoins, the biggest one among listed companies.
Walt Disney (DIS) dipped 0.12% after announcing a cash dividend of $0.30 per share, its first in four years.
After reporting quarterly results, Ulta Beauty (ULTA) surged 10.81%, while Marvell Technology (MRVL) fell 5.26%, and Dell Technologies (DELL) slid 5.19%.
European stocks also ended higher, with the DAX 40 rising 1.12%, the CAC 40 up 0.48%, and the FTSE 100 up 1.01%.
U.S. WTI crude oil fell $1.71 (-2.25%) to $74.25 a barrel.
Gold price touched an all-time high of $2,075 an ounce.
Market Wrap: Forex
The U.S. dollar saw its recent downtrend resume, as the dollar index pulled back to 103.22.
EUR/USD dipped 7 pips to 1.0881.
USD/JPY fell 135 pips to 146.85.
GBP/USD rose 85 pips to 1.2709. In the U.K., the Nationwide housing price index gained 0.2% on month in November (vs +0.4% expected).
AUD/USD climbed 70 pips to 0.6675.
USD/CHF declined 60 pips to 0.8692.
USD/CAD lost 65 pips to 1.3496. Canada's data showed that employment increased by 24,900 in November (vs +20,000 expected), while the jobless rate edged up to 5.8% (as expected).
Over the weekend, Bitcoin remained buoyed while approaching the key level of $40,000.
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MARKET WRAP: STOCKS, BONDS, COMMODITIES
On Thursday, U.S. stocks rebounded. The Dow Jones Industrial Average rose 62 points (+0.17%) to 36,117, the S&P 500 climbed 36 points (+0.8%) to 4,585, and the Nasdaq 100 jumped 234 points (+1.48%) to 16,022.
Media (+3.55%), semiconductors (+2.68%), and automobiles & components (+1.34%) stock sectors led the market higher.
Alphabet (GOOGL) jumped 5.31%, as investors responded positively to the tech giant's newly-launched new artificial intelligence (AI) model "Gemini".
Other big-tech stocks also performed well, with Meta Platforms (META) rising 2.88%, Nvidia (NVDA) up 2.40%, Amazon.com (AMZN) up 1.63%, Tesla (TSLA) up 1.37%, and Apple (AAPL) up 1.01%.
Advanced Micro Devices (AMD) surged 9.89% after the chip maker unveiled its new AI-focused chip.
However, C3.ai (AI) plunged 10.77%, as the artificial intelligence firm gave a wider-than-expected full-year operating loss forecast.
The U.S. 10-year Treasury yield gained 4 basis points to 4.144%.
U.S. economic data showed that the latest number of initial jobless claims rose to 220,000 (vs 225,000 expected).
In Europe, the DAX 40 fell 0.16%, the CAC 40 declined 0.10%, while the FTSE 100 was little changed.
U.S. WTI crude oil futures added $0.29 to 69.67 a barrel.
Gold price gained $3 to $2,028 an ounce.
MARKET WRAP: FOREX
The U.S. dollar softened against other major currencies. The dollar index eased to 103.61.
USD/JPY dropped 341 pips (-2.31%) to 143.90. The yen surged on growing market expectations that Japan will soon end its ultra-easy monetary policy.
Bank of Japan Governor Kazuo Ueda on Thursday said policy management would "become even more challenging from the year-end and heading into next year". And Deputy Governor Ryozo Himino on Wednesday discussed the potential impact of an exit from ultra-loose monetary policy on the economy.
EUR/USD gained 29 pips to 1.0793. Germany's data showed that industrial production declined 0.4% on month in October (vs +0.4% expected).
GBP/USD climbed 26pips to 1.2586, and AUD/USD increased 53 pips to 0.6602.
USD/CHF added 9 pips to 0.8757.
USD/CAD rose 8 pips to 1.3601. Canada's data showed that building permits climbed 2.3% on month in October (vs +2.6% expected).
Bitcoin slipped 1% to $43,260.
Use the link below and code fx for 5% discount.
larkfunding.com
On Thursday, U.S. stocks rebounded. The Dow Jones Industrial Average rose 62 points (+0.17%) to 36,117, the S&P 500 climbed 36 points (+0.8%) to 4,585, and the Nasdaq 100 jumped 234 points (+1.48%) to 16,022.
Media (+3.55%), semiconductors (+2.68%), and automobiles & components (+1.34%) stock sectors led the market higher.
Alphabet (GOOGL) jumped 5.31%, as investors responded positively to the tech giant's newly-launched new artificial intelligence (AI) model "Gemini".
Other big-tech stocks also performed well, with Meta Platforms (META) rising 2.88%, Nvidia (NVDA) up 2.40%, Amazon.com (AMZN) up 1.63%, Tesla (TSLA) up 1.37%, and Apple (AAPL) up 1.01%.
Advanced Micro Devices (AMD) surged 9.89% after the chip maker unveiled its new AI-focused chip.
However, C3.ai (AI) plunged 10.77%, as the artificial intelligence firm gave a wider-than-expected full-year operating loss forecast.
The U.S. 10-year Treasury yield gained 4 basis points to 4.144%.
U.S. economic data showed that the latest number of initial jobless claims rose to 220,000 (vs 225,000 expected).
In Europe, the DAX 40 fell 0.16%, the CAC 40 declined 0.10%, while the FTSE 100 was little changed.
U.S. WTI crude oil futures added $0.29 to 69.67 a barrel.
Gold price gained $3 to $2,028 an ounce.
MARKET WRAP: FOREX
The U.S. dollar softened against other major currencies. The dollar index eased to 103.61.
USD/JPY dropped 341 pips (-2.31%) to 143.90. The yen surged on growing market expectations that Japan will soon end its ultra-easy monetary policy.
Bank of Japan Governor Kazuo Ueda on Thursday said policy management would "become even more challenging from the year-end and heading into next year". And Deputy Governor Ryozo Himino on Wednesday discussed the potential impact of an exit from ultra-loose monetary policy on the economy.
EUR/USD gained 29 pips to 1.0793. Germany's data showed that industrial production declined 0.4% on month in October (vs +0.4% expected).
GBP/USD climbed 26pips to 1.2586, and AUD/USD increased 53 pips to 0.6602.
USD/CHF added 9 pips to 0.8757.
USD/CAD rose 8 pips to 1.3601. Canada's data showed that building permits climbed 2.3% on month in October (vs +2.6% expected).
Bitcoin slipped 1% to $43,260.
Use the link below and code fx for 5% discount.
larkfunding.com
Happy Saturday, Lark Traders!
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Promo link
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We’re just dropping by to let you know that the biggest-ever promo on our 1-Stage Program is live!
Use the code DECEMBER30 to save 30% on all 1-Stage Evaluation Accounts!
That means our accounts are now only:
$5,000 = $66.50
$10,000 = $105
$25,000 = $157.50
$50,000 = $280
$100,000 = $490
$200,000 = $1,015
Promo link
https://bit.ly/3GzD19B
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Live Forex Chart
Currency
Rates
EUR / USD
1.14022
USD / JPY
158.240
GBP / USD
1.32653
USD / CHF
0.82463
USD / CAD
1.40984
EUR / JPY
180.368
AUD / USD
0.70472