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MARKET WRAP: STOCKS, BONDS, COMMODITIES


On Friday, U.S. stocks managed to halt their recent losing streak, with the Nasdaq 100 gaining 23 points (+0.15%) to 16,305, the S&P 500 up 8 points (+0.18%) to 4,697, and the Dow Jones Industrial Average up 25 points (+0.07%) to 37,466.

The U.S. official jobs report for December showed a stronger-than-expected labor market. The economy added 216,000 non-farm payrolls, much higher than an addition of 150,000 expected, with the jobless rate staying unchanged at 3.7% (vs 3.9% expected), and the average hourly earnings rising 0.4% on month (vs +0.3% expected).

The U.S. Institute for Supply Management (ISM) services purchasing managers index fell to 50.6 in December (vs a rise to 52.8 expected). Factory orders grew 2.6% on month in November (vs +1.8% expected).

The U.S. 10-year Treasury yield remained firm at 4.051%.

Telecom services (+1.70%), banks (+1.25%), and semiconductors (+1.07%) stock sectors were the top performers Friday.

Nvidia (NVDA) rose 2.29%, Advanced Micro Devices (AMD) climbed 1.89%, and Meta Platforms (META) was up 1.39%.

Peloton Interactive (PTON) advanced a further 9.62% after jumping 14% Thursday when the interactive fitness platform announced a collaboration with TikTok to offer personalized social contents.

Snowflake (SNOW) gained 2.94%, as the software developer was rated "outperform" at RBC Capital.

European stocks closed lower, with the DAX 40 easing 0.14%, the CAC 40 falling 0.40%, and the FTSE 100 dropping 0.43%.

Oil prices continued to be buoyed by tensions in the Middle East. U.S. WTI crude-oil futures gained $1.71 (+2.37%) to $73.9 a barrel.

Gold price edged up $1 to $2,044 an ounce.


MARKET WRAP: FOREX

The U.S. dollar continued to be firm against other major currencies. The dollar index advanced to 102.47.

EUR/USD eased 5 pips to 1.0938. The Eurozone's inflation rate rebounded to 2.9% on year in December (as expected), while producer prices fell 8.8% on year in November (vs -8.6% expected).

Germany's retail sales dropped 2.5% on month in November (vs -0.4% expected).

USD/JPY once ran up to 145.98, the highest intraday level since December 13, before retreating to 144.71.

GBP/USD gained 36 pips to 1.2715. In the U.K., the Halifax house price index rose 1.1% on month in December (vs +0.1% expected).

AUD/USD added 8 pips to 0.6713.

USD/CHF was little changed at 0.8501.

USD/CAD climbed 16 pips to 1.3363. Canada's data showed a reduction of 23,500 full-time jobs in December, in contrast to an addition of 24,000 expected, with the jobless rate being stable at 5.8%.

Over the weekend, Bitcoin showed resilience as it remained buoyed at levels above $44,000. Investors are convinced that approvals for Bitcoin spot exchange-traded funds (ETF) will come this week.



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MARKET WRAP: STOCKS, BONDS, COMMODITIES


On Tuesday, U.S. stocks closed mixed. The Dow Jones Industrial Average fell 157 points (-0.42%) to 37,525, the S&P 500 declined 7 points (-0.15%) to 4,756, while the Nasdaq 100 closed 28 points higher (+0.17%) at 16,678.

The U.S. 10-year Treasury yield stayed firm at 4.015%.

Semiconductors & semiconductor equipment (+0.79%), retailing (+0.77%), and food & staples retailing (+0.75%) stock sectors posted gains, while automobiles & components (-2.12%), telecom services (-1.92%), and energy (-1.63%) sectors underperformed the market.

Nvidia (NVDA) advanced a further 1.70% to another record close of $531.40.

Alphabet (GOOGL) rose 1.52%, and Amazon.com (AMZN) was up 1.52%, while Tesla (TSLA) fell 2.28%.

Hewlett Packard Enterprise (HPE) slid 8.92%, while Juniper Networks (JNPR) jumped 21.81%. The Wall Street Journal reported that Hewlett Packard is concluding a $13 billion deal to acquire Juniper Networks.

Match (MTCH) rose 3.04%. According to the Wall Street Journal, hedge fund Elliott Investment Management has taken a $1 billion stake in the dating services provider.

CrowdStrike Holdings (CRWD) climbed 4.78%. The cybersecurity company was upgraded to "overweight" at Morgan Stanley.

Jetblue Airways (JBLU) sank 10.24%. The company announced that Robin Hayes is stepping down as chief executive officer due to health issues.

European stocks closed slightly lower, with the DAX 40 declining 0.17%, the CAC 40 down 0.32%, and the FTSE 100 down 0.13%.

U.S. WTI crude-oil futures gained $1.44 (+2.03%) to $72.21 a barrel.

Gold price added $2 to $2,029 an ounce.


MARKET WRAP: FOREX


The U.S. dollar regained some strength against other major currencies. The dollar index climbed to 102.51.

EUR/USD fell 20 pips to 1.0929. Eurozone data showed that the jobless rate dropped to 6.4% in November (vs 6.6% expected).

Germany's industrial production declined 0.7% on month in November (vs -0.6% expected).

USD/JPY gained 25 pips to 144.47. Japan's data showed that labor average cash earnings edged up 0.2% on year in November (vs +1.5% expected).

GBP/USD dropped 41 pips to 1.2706, and AUD/USD slid 32 pips to 0.6686.

USD/CHF climbed 44 pips to 0.8523.

USD/CAD rose 42 pips to 1.3387. Canada's building permits fell 3.9% on month in November (vs -0.3% expected).

Just minutes after the stock market closed, the U.S. Securities and Exchange Commission (SEC) tweeted that it approved spot Bitcoin exchange-traded funds (ETFs). Bitcoin then bounced to $47,900. However, a moment later, the SEC said that the previous tweet was compromised and that no ETFs had been approved. Bitcoin then retreated to $46,000.

Investors still believe that those spot Bitcoin ETFs will be approved Wednesday (January 10).

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MARKET WRAP: STOCKS, BONDS, COMMODITIES


On Wednesday, U.S. stocks closed higher, with the Dow Jones Industrial Average rising 170 points (+0.45%) to 37,695, the S&P 500 up 26 points (+0.57%) to 4,783, and the Nasdaq 100 up 114 points (+0.69%) to 16,793.

Meanwhile, the U.S. 10-year Treasury yield held up well at 4.034%.

Investors are watching closely U.S. inflation data to be released later today, which is expected to be stable at 3.1% on year in December.

Retailing (+1.59%), software & services (+1.56%), and media (+1.32%) stock sectors gained the most, while energy (-1.01%) and food, beverage & tobacco (-0.63%) sectors traded lower.

Nvidia (NVDA) advanced a further 2.28% to another record close of $543.50.

Meta Platforms (META) gained 3.65%, Microsoft (MSFT) rose 1.86%, and Apple (AAPL) was up 0.57%.

Intuitive Surgical (ISRG) jumped 10.25%. The medical robotic system developer posted better-than-expected fourth-quarter sales figures.

Palo Alto Networks (PANW) gained 5.22%. Morgan Stanley raised its price target for the cyber-security company to $375.

Hewlett Packard Enterprise (HPE) said it has agreed to acquire Juniper Networks (JNPR) for $14 billion. HPE rose 1.80%, and JNPR was up 2.12% at close.

In Europe, both the DAX 40 and the CAC 40 were little changed, while the FTSE 100 declined 0.42%.

U.S. WTI crude-oil futures dropped $0.95 (-1.32%) to $71.29 a barrel.

Gold price retreated $6 to $2,023 an ounce.


MARKET WRAP: FOREX


The U.S. dollar index eased to 102.38.

EUR/USD rose 37 pips to 1.0968. France's industrial production grew 0.5% on month in November (vs +0.2% expected).

USD/JPY climbed 131 pips (+0.91%) to 145.78.

GBP/USD added 31 pips to 1.2736.

AUD/USD rose 16 pips (+0.24%) to 0.6698. Australia's inflation rate slowed to 4.3% on year in November (vs 4.5% expected).

This morning, Australia's data showed that trade surplus widened to A$11.44 billion in November, with exports growing 1.7% on month.

USD/CHF dropped 15 pips to 0.8507, and USD/CAD was down 13 pips to 1.3376.

As widely expected, the U.S. Securities and Exchange Commission (SEC) eventually announced approvals for spot Bitcoin exchange-traded funds (ETFs). 11 spot Bitcoin ETFs, including those of BlackRock, Fidelity and Grayscale, will start trading on Thursday (January 11).

Bitcoin climbed towards $47,000 after the SEC's announcement.


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MARKET WRAP: STOCKS, BONDS, COMMODITIES

On Thursday, U.S. stocks closed little changed amid hotter-than-expected inflation data. The Dow Jones Industrial Average added 15 points (+0.04%) to 37,711, the S&P 500 eased 3 points (-0.07%) to 4,780, while the Nasdaq 100 gained 27 points (+0.17%) to 16,820.

U.S. data showed that the inflation rate rebounded to 3.4% on year in December (vs 3.1% expected and in November). The monthly inflation rate also accelerated to 0.3% (vs 0.1% expected and in November), with the cost of shelter accounting for most of the price growth.

And the latest number of initial jobless claims fell slightly to 202,000 (vs 209,000 expected).

Meanwhile, the U.S. 10-year Treasury yield declined to 3.973%.

Telecom services (-2.74%), automobiles (-2.51%), and utilities (-2.34%) stock sectors saw the biggest losses in the trading session.

Nvidia (NVDA) gained a further 0.87% to $548.22, marking another record close.

Tesla (TSLA) slid 2.87%, the worst performance among big-tech stocks.

Netflix (NFLX) rose 2.91%. The video-streaming platform reported that the number of monthly active users for its ad-based plan exceeded 23 million.

Boeing (BA) fell 2.27% after U.S. aviation authorities initiated an official investigation into Boeing 737 MAX 9 planes due to a recent incident involving a similar jet operated by Alaska Airlines.

Spot Bitcoin exchange-traded funds (ETFs) made their debut trading while stocks related to Bitcoin and crypto-currencies performed poorly. Microstrategy (MSTR) fell 5.21%, Coinbase Global (COIN) dropped 6.70%, and Marathon Digital (MARA) sank 12.60%.

European stocks closed lower, with the DAX 40 falling 0.86%, the CAC 40 down 0.52%, and the FTSE 100 down 0.98%.

U.S. WTI crude-oil futures rebounded $1.24 (+1.74%) to $72.61 a barrel.

Gold price climbed $5 to $2,028 an ounce.


MARKET WRAP: FOREX


The U.S. dollar index was stable at 102.32. Higher-than-expected inflation figures let investors doubt if the Federal Reserve will cut interest rates soon.

EUR/USD was little changed at 1.0972.

USD/JPY dropped 47 pips to 145.26.

GBP/USD rose 25 pips to 1.2764.

AUD/USD declined 8 pips to 0.6690.

USD/CHF added 9 pips to 0.8517, and USD/CAD climbed 14 pips to 1.3392.

As spot Bitcoin ETFs started trading, Bitcoin once bounced to $49,100 before retreating to $46,400.

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MARKET WRAP: STOCKS, BONDS, COMMODITIES

On Friday, U.S. stocks closed mixed. The Dow Jones Industrial Average fell 118 points (-0.31%) to 37,592, while the S&P 500 gained 3 points (+0.08%) to 4,783, and the Nasdaq 100 edged up 12 points (+0.07%) to 16,832.

U.S. data showed that producer prices grew 1.0% on year in December (as expected).

Meanwhile, U.S. 10-year Treasury yield edged down to 3.941%.

Telecom services (+1.33%), energy (+1.26%), and software & services (+0.93%) stock sectors outperformed the market Friday, while automobiles & components (-3.43%), banks (-1.26%), and health-care equipment & services (-1.19%) sectors closed with losses.

Microsoft (MSFT) advanced 1.00% to $388.47, a record closing level. With a market capitalization of $2.89 trillion, Microsoft has overtaken Apple (AAPL) to be the most valuable public company.

Tesla (TSLA) slid 3.67% to $218.89, below its 200-day moving average. The electric-vehicle maker said Thursday it could suspend production at its Berlin factory due to a supply chain issue caused by troubles in the Red Sea.

UnitedHealth (UNH), a private health insurance provider, fell 3.37%, and Wells Fargo (WFC), one of the big-five U.S. banks, dropped 3.34%.

Delta Air Lines (DAL) tumbled 8.97% after the airline gave a disappointing 2024 earnings guidance.

Other airline stocks also lost ground, with United Airlines (UAL) sliding 10.63%, Jetblue Airways (JBLU) down 5.60%, and Southwest Airlines (LUV) down 4.26%.

U.S. markets will be closed Monday (January 15) for the Martin Luther King Jr. Day holiday.

European stocks closed higher, with the DAX 40 rising 0.95%, the CAC 40 up 1.05%, and the FTSE 100 up 0.64%.

U.S. WTI crude-oil futures gained $0.77 (+1.07%) to $72.79 a barrel. Oil prices were boosted by escalation of tensions in the Middle East, as the U.S. and the U.K. conducted air and sea strikes against targets in Yemen in retaliation for the Yemeni Houthi militia's attacks on ships in the Red Sea.

Gold price advanced $19 to $2,047 an ounce.

MARKET WRAP: FOREX

The U.S. dollar index remained stable at 102.43.

EUR/USD fell 21 pips to 1.0949.

USD/JPY dropped 42 pips to 144.86.

GBP/USD declined 14 pips to 1.2746. U.K. data showed that the gross domestic product grew 0.3% on month in November (vs +0.1% expected), and industrial production rose 0.3% (vs +0.2% expected).

AUD/USD dipped 3 pips to 0.6684.

USD/CHF added 6 pips to 0.8524, and USD/CAD climbed 12 pips to 1.3403.

Bitcoin remained subdued in the second trading session of all-new spot Bitcoin exchange-traded funds. Over the weekend, it tested support of the $42,000 level.

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MARKET WRAP: STOCKS, BONDS, COMMODITIES

U.S. markets were closed on Monday (January 15) for the Martin Luther King Jr. Day holiday.

European stocks closed lower on Monday, with the DAX 40 falling 0.49%, the CAC 40 down 0.72%, and the FTSE 100 down 0.39%.

U.S. WTI crude-oil futures declined $0.18 (0.25%) to $72.50 a barrel, and Brent crude-oil futures were down $0.14 (-0.20%) to $78.15 a barrel.

Gold price retreated $8 (0.28%) to $2,054 an ounce.


MARKET WRAP: FOREX

The U.S. dollar index held firm at 102.59.

EUR/USD edged up 2 pips to 1.0951. The Eurozone's data showed that industrial production declined 0.3% on month in November (vs -0.6% expected).

Germany's gross domestic product shrank 0.3% on year in 2023 (as expected), compared to a growth of 1.8% in 2022.

USD/JPY gained 88 pips to 145.78. This morning, Japan's data showed that producer prices were unchanged on year in December (vs -0.2% expected, +0.3% in November).

GBP/USD slipped 24 pips to 1.2727.

AUD/USD fell 26 pips to 0.6659. Australia's Westpac consumer confidence index declined to 81.0 in January (vs a rise to 82.5 expected).

USD/CHF rose 36 pips to 0.8558.

USD/CAD climbed 21 pips to 1.3429. Canada's data showed that manufacturing sales grew 1.2% on month in November (as expected).

Bitcoin kept trading at levels below $43,000.


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MARKET WRAP: STOCKS, BONDS, COMMODITIES


On Monday, major U.S. stock indexes advanced further from their record closed marked Friday. The Dow Jones Industrial Average closed above the level of 38,000 for the first time, as it rose 138 points (+0.36%) to 38,001. The S&P 500 gained 10 points (+0.22%) to 4,850, and the Nasdaq 100 edged up 16 points (+0.09%) to 17,330.

Technology hardware & equipment (+1.11%), transportation (+1.01%), and commercial & professional services (+0.81%) stock sectors gained the most, while automobiles & components (-1.30%), food, beverage & tobacco (-1.11%), and consumer services (-0.76%) sectors lagged behind.

Nvidia (NVDA) advanced 0.27% to $596.54, another record close.

Advanced Micro Devices (AMD) retreated 3.47% halting a four-session rally.

Apple (AAPL) rose 1.22%, while Microsoft (MSFT) softened 0.54%, and Tesla (TSLA) was down 1.60%.

Archer Daniels Midland (ADM) plunged 24.20%. The agricultural-commodity processor lowered its full-year earnings outlook while placing its chief financial officer on administrative leave for an investigation.

Gilead Sciences (GILD) slid 10.15%. The biopharmaceutical firm reported that its lung-cancer drug Trodelvy did not show significant effectiveness in a study.

Meanwhile, the U.S. 10-year Treasury yield eased slightly to 4.110%.

Regarding U.S. economic data, the Conference Board leading index declined 0.1% on month in December (vs -0.3% expected).

European stocks closed higher, with the DAX 40 rising 0.77%, the CAC 40 up 0.56%, and the FTSE 100 up 0.35%.

U.S. WTI crude-oil futures increased $1.31 (+1.79%) to $74.56 a barrel. Concerns on oil supply grew after Russia's Novatek fuel terminal was struck by Ukrainian drones and U.S. oil production was affected by extreme cold weather.

Gold price declined $8 to $2,020 an ounce.


MARKET WRAP: FOREX


The U.S. dollar index was stable at 103.34.

EUR/USD slid 17 pips (-0.16%) to 1.088.

USD/JPY dipped 2 pips to 148.12. Later today, the Bank of Japan is expected to keep its key interest rate unchanged at negative level of -0.100%.

GBP/USD added 5 pips to 1.2705.

AUD/USD dropped 29 pips to 0.6568. In Australia, the National Australia Bank (NAB) business confidence index improved to -1 in December (vs -7 expected).

USD/CHF edged up 3 pips to 0.8688, and USD/CAD climbed 48 pips to 1.3477.

Bitcoin lost the psychologically-significant level of $40,000, as it slid over 4% to $39,750.


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MARKET WRAP: STOCKS, BONDS, COMMODITIES


On Wednesday, the S&P 500 (up 3.95 points or 0.08% to 4,868) and the Nasdaq 100 (up 95 points or 0.55% to 17,499) continued to close at record levels. Meanwhile, the Dow Jones Industrial Average retreated 99 points (-0.26%) to 37,806.

Semiconductors & semiconductor equipment (+1.91%), media (+1.58%), and energy (+1.43%) stock sectors were the top performers, while telecom services (-2.22%), household & personal products (-1.75%), and real estate (-1.42%) sectors lagged behind.

Nvidia (NVDA) surpassed the psychologically-significant level of $600 for the first time, as it advanced 2.49% to $613.62, a fifth consecutive record close.

Microsoft (MSFT) gained 0.92% to a record close of $402.56, lifting its market value across the $3 trillion mark for the first time.

Netflix (NFLX) bounced 10.70%, as the video-streaming platform reported an addition of 13.12 million subscribers in the fourth quarter, surpassing expectations.

DuPont (DD) plunged 14.04%, and AT&T (T) lost 2.97%, as both companies gave lower-than-expected business forecasts.

In after-market hours, Tesla (TSLA) once sank past the key level of $200.00 after reporting lower-than-expected fourth-quarter earnings. The electric-vehicle added that its 2024 vehicle volume growth rate may be "notably lower" than that in 2023.

Meanwhile, IBM (IBM) jumped 5% in extended trading, as the computer hardware and software specialist gave an upbeat full-year revenue growth forecast citing wide adoption of artificial intelligence (AI).

The U.S. 10-year Treasury yield added 4 basis points to 4.140%.

The S&P Global U.S. manufacturing purchasing managers index (PMI) posted at 50.3 in January (vs 47.2 expected).

European stocks closed higher, with the DAX 40 rising 1.58%, the CAC 40 up 0.91% and the FTSE 100 up 0.56%.

U.S. WTI crude-oil rose $0.96 (+1.29%) to $75.33 a barrel. The U.S. Energy Department reported a reduction of 9.23 million barrels in the latest crude-oil stockpiles (vs -2.15 million barrels expected).

Gold price added $1 to $2,013 an ounce.


MARKET WRAP: FOREX


The U.S. dollar index eased to 103.27.

EUR/USD gained 32 pips to 1.0883. The HCOB manufacturing PMI posted at 46.6 in January (vs 45.0 expected) for the Eurozone, 45.4 (vs 44.0 expected) for Germany, and 43.2 (vs 43.0) for France.

USD/JPY dropped 86 pips to 147.50.

GBP/USD rose 36 pips to 1.2723. The S&P Global U.K. manufacturing PMI posted at 47.3 in January (vs 47.0 expected).

AUD/USD was little changed at 0.6576.

USD/CHF fell 76 pips to 0.8626.

USD/CAD rose 63 pips to 1.3523. As expected, the Bank of Canada kept its key interest rate unchanged at 5.00%.

Bitcoin showed resilience, as it tried to regain the level of $40,000.


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