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Jun 1, 12:00 AM
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MARKET COMMENTARY
Market Wrap: Stocks, Bonds, Commodities
On Friday, U.S. stocks closed slightly lower. The Dow Jones Industrial Average slipped 8 points (-0.03%) to 33,300, the S&P 500 declined 6 points (-0.16%) to 4,124, and the Nasdaq 100 dropped 49 points (-0.37%) to 13,340.
The University of Michigan consumer sentiment index fell to a 57.7 for May (vs 64.0 expected, 63.5 in April), the lowest level since November.
The U.S. 10-year Treasury yield rebounded 7.8 basis points to 3.463%.
Automobiles (-2.26%), banks (-1.16%), and consumer durables & apparel (-0.91%) stock sectors lost the most.
Tesla (TSLA) once jumped over 2%, but eventually closed 2.38% lower. Company chief executive Elon Musk said he has hired Linda Yaccarino as Twitter's new chief executive. The company also announced the need to fix 1.1 million cars it sold in China due to a braking-system issue.
Rivian Automotive (RIVN) dropped 6.72%.
First Solar (FSLR) soared 26.48%. The maker solar modules announced plans to acquire European perovskite technology company Evolar for $80 million.
European stocks were higher at close. The DAX 40 edged up 0.05%, the CAC 40 rose 0.45%, and the FTSE 100 was up 0.31%.
Swiss-listed Richemont's share price hit a record intraday level, as the luxury goods group reported upbeat full-year results citing strong demand from Chinese consumers for jewellery and watches.
U.S. WTI crude futures fell $0.80 to $70.07 a barrel.
Gold price dipped $4 to $2,011 an ounce.
Market Wrap: Forex
The U.S. dollar strengthened further against other major currencies. U.S. Federal Reserve Governor Michelle Bowman said the central bank will probably need to raise interest rates further if inflation stays high.
The dollar index advanced to 102.69.
EUR/USD dropped 65 pips to 1.0851.
GBP/USD fell 61 pips to 1.2450. U.K. data showed that gross domestic product shrank 0.3% on month in March (vs +0.1% expected), while industrial production grew +0.7% (vs +0.2% expected).
USD/JPY jumped 116 pips to 135.69. This morning, Japan's data showed that producer-price growth slowed to 5.8% on year in April (vs 6.5% expected).
AUD/USD slid 57 pips to 0.6645
USD/CHF gained 45 pips to 0.8987, and USD/CAD rose 64 pips to 1.3555.
Over the weekend, Bitcoin managed to trade higher to $26,880.
Market Wrap: Stocks, Bonds, Commodities
On Friday, U.S. stocks closed slightly lower. The Dow Jones Industrial Average slipped 8 points (-0.03%) to 33,300, the S&P 500 declined 6 points (-0.16%) to 4,124, and the Nasdaq 100 dropped 49 points (-0.37%) to 13,340.
The University of Michigan consumer sentiment index fell to a 57.7 for May (vs 64.0 expected, 63.5 in April), the lowest level since November.
The U.S. 10-year Treasury yield rebounded 7.8 basis points to 3.463%.
Automobiles (-2.26%), banks (-1.16%), and consumer durables & apparel (-0.91%) stock sectors lost the most.
Tesla (TSLA) once jumped over 2%, but eventually closed 2.38% lower. Company chief executive Elon Musk said he has hired Linda Yaccarino as Twitter's new chief executive. The company also announced the need to fix 1.1 million cars it sold in China due to a braking-system issue.
Rivian Automotive (RIVN) dropped 6.72%.
First Solar (FSLR) soared 26.48%. The maker solar modules announced plans to acquire European perovskite technology company Evolar for $80 million.
European stocks were higher at close. The DAX 40 edged up 0.05%, the CAC 40 rose 0.45%, and the FTSE 100 was up 0.31%.
Swiss-listed Richemont's share price hit a record intraday level, as the luxury goods group reported upbeat full-year results citing strong demand from Chinese consumers for jewellery and watches.
U.S. WTI crude futures fell $0.80 to $70.07 a barrel.
Gold price dipped $4 to $2,011 an ounce.
Market Wrap: Forex
The U.S. dollar strengthened further against other major currencies. U.S. Federal Reserve Governor Michelle Bowman said the central bank will probably need to raise interest rates further if inflation stays high.
The dollar index advanced to 102.69.
EUR/USD dropped 65 pips to 1.0851.
GBP/USD fell 61 pips to 1.2450. U.K. data showed that gross domestic product shrank 0.3% on month in March (vs +0.1% expected), while industrial production grew +0.7% (vs +0.2% expected).
USD/JPY jumped 116 pips to 135.69. This morning, Japan's data showed that producer-price growth slowed to 5.8% on year in April (vs 6.5% expected).
AUD/USD slid 57 pips to 0.6645
USD/CHF gained 45 pips to 0.8987, and USD/CAD rose 64 pips to 1.3555.
Over the weekend, Bitcoin managed to trade higher to $26,880.
MARKET COMMENTARY
Market Wrap: Stocks, Bonds, Commodities
On Monday, U.S. stocks closed slightly higher. The Dow Jones Industrial Average rose 47 points (+0.14%) to 33,348, the S&P 500 climbed 12 points (+0.30%) to 4,136, and the Nasdaq 100 gained 73 points (+0.55%) to 13,413.
Semiconductors (+2.42%), banks (+1.85%), and materials (+0.85%) stock sectors were the top performers, while utilities (-1.24%), telecoms services (-1.02%), and automobiles (-0.76%) sectors lagged behind.
Meta Platforms (META) climbed 2.16% as the stock was upgraded to "buy" at investment bank & brokerage Loop Capital.
Alphabet (GOOGL) declined 0.85% after being downgraded to "hold" at Loop Capital.
Microsoft (MSFT) edged up 0.16%, while Activision Blizzard (ATVI) added 1.24%. The European Union's antitrust regulators approved Microsoft's 69-billion-dollar acquisition of Activision Blizzard.
Newmont Mining (NEM) rose 2.50%. The gold and copper mining company's takeover offer of 17.5 billion dollars for Australian gold miner Newcrest Mining has been accepted by the latter.
The U.S. 10-year Treasury yield advanced a further 3.8 basis points to 3.500%.
Regarding U.S. economic data, the New York State manufacturing index fell to -31.8 in May (vs +8.0 expected).
European stocks were higher at close. The DAX 40 edged up 0.02%, the CAC 40 added 0.05%, and the FTSE 100 was up 0.30%.
U.S. WTI crude futures rose $1.30 to $71.30 a barrel.
Gold price climbed $5 to $2,016 an ounce.
Market Wrap: Forex
The U.S. dollar retreated from a five-week high, as the dollar index declined to 102.41.
EUR/USD rose 27 pips to 1.0876. the European Commission raised its 2023 Eurozone GDP growth forecast to 1.1% from 0.9% previously, and its inflation forecast to 5.8% from 5.6%.
GBP/USD gained 72 pips to 1.2530.
USD/JPY climbed 36 pips to 136.06.
AUD/USD rose 57 pips to 0.6703. In Australia, the Westpac consumer confidence index dropped to 79.0 in May (vs 82.1 expected).
USD/CHF added 24 pips to 0.8951.
USD/CAD dropped 84 pips to 1.3466. Canada's data showed that housing starts increased to 261,600 units in April (vs 221,000 units expected).
Bitcoin regained the $27,000 level before trading higher to $27,600.
Market Wrap: Stocks, Bonds, Commodities
On Monday, U.S. stocks closed slightly higher. The Dow Jones Industrial Average rose 47 points (+0.14%) to 33,348, the S&P 500 climbed 12 points (+0.30%) to 4,136, and the Nasdaq 100 gained 73 points (+0.55%) to 13,413.
Semiconductors (+2.42%), banks (+1.85%), and materials (+0.85%) stock sectors were the top performers, while utilities (-1.24%), telecoms services (-1.02%), and automobiles (-0.76%) sectors lagged behind.
Meta Platforms (META) climbed 2.16% as the stock was upgraded to "buy" at investment bank & brokerage Loop Capital.
Alphabet (GOOGL) declined 0.85% after being downgraded to "hold" at Loop Capital.
Microsoft (MSFT) edged up 0.16%, while Activision Blizzard (ATVI) added 1.24%. The European Union's antitrust regulators approved Microsoft's 69-billion-dollar acquisition of Activision Blizzard.
Newmont Mining (NEM) rose 2.50%. The gold and copper mining company's takeover offer of 17.5 billion dollars for Australian gold miner Newcrest Mining has been accepted by the latter.
The U.S. 10-year Treasury yield advanced a further 3.8 basis points to 3.500%.
Regarding U.S. economic data, the New York State manufacturing index fell to -31.8 in May (vs +8.0 expected).
European stocks were higher at close. The DAX 40 edged up 0.02%, the CAC 40 added 0.05%, and the FTSE 100 was up 0.30%.
U.S. WTI crude futures rose $1.30 to $71.30 a barrel.
Gold price climbed $5 to $2,016 an ounce.
Market Wrap: Forex
The U.S. dollar retreated from a five-week high, as the dollar index declined to 102.41.
EUR/USD rose 27 pips to 1.0876. the European Commission raised its 2023 Eurozone GDP growth forecast to 1.1% from 0.9% previously, and its inflation forecast to 5.8% from 5.6%.
GBP/USD gained 72 pips to 1.2530.
USD/JPY climbed 36 pips to 136.06.
AUD/USD rose 57 pips to 0.6703. In Australia, the Westpac consumer confidence index dropped to 79.0 in May (vs 82.1 expected).
USD/CHF added 24 pips to 0.8951.
USD/CAD dropped 84 pips to 1.3466. Canada's data showed that housing starts increased to 261,600 units in April (vs 221,000 units expected).
Bitcoin regained the $27,000 level before trading higher to $27,600.
MARKET COMMENTARY
Market Wrap: Stocks, Bonds, Commodities
On Tuesday, U.S. stocks closed mostly lower. The Dow Jones Industrial Average fell 336 points (-1.01%) to 33,012, and the S&P 500 dropped 26 points (-0.64%) to 4,109, while the Nasdaq 100 pared earlier gains to close just 12 points higher (+0.09%) at 13,426.
Real estate (-2.67%), energy (-2.54%), and utilities (-2.3%) stock sectors lost the most, while media (+0.93%), and software & services (+0.48%) posted gains.
Alphabet (GOOGL) rose 2.57%. Hedge fund Pershing Square revealed a new stake worth over one billion dollars in the tech giant.
Amazon.com (AMZN) climbed 1.98%. Bloomberg reported that the company is planning to bring a ChatGPT-style search tool to its online store.
Home Depot (HD) slid 2.15%. The home improvement specialty retailer lower its full-year sales forecast.
Amgen (AMGN) fell 2.42%. The U.S. Federal Trade Commission sued to block the biotech-medicine developer's proposed 28-billion-dollar deal to buy Horizon Therapeutics Plc (HZNP) citing anti-competition concerns. Horizon Therapeutics (HZNP) sank 14.17%.
On the other hand, Baidu (BIDU) rose 3.97%. The Chinese tech giant posted better-than-expected quarterly earnings.
Capital One Financial (COF) gained 2.05% after a filing showed that Berkshire Hathaway Inc has taken a stake in the bank.
The U.S. 10-year Treasury yield gained a further 4 basis points to 3.541%.
U.S. data showed that retail sales grew 0.4% on month in April (vs +0.7% expected), and industrial production expanded 0.5% (vs -0.1% expected).
European stocks closed lower. The DAX 40 fell 0.12%, the CAC 40 dropped 0.16%, and the FTSE 100 was down 0.34%.
U.S. WTI crude futures declined $0.60 to $70.55 a barrel.
Gold price slid $27 to $1,988 an ounce.
Market Wrap: Forex
The U.S. dollar index climbed to 102.60.
EUR/USD dropped 12 pips to 1.0862. In Germany, the ZEW economic sentiment index fell to -10.7 in May (vs -2 expected).
GBP/USD slid 48 pips to 1.2481. U.K. data showed that the latest jobless rate rose to 3.9% (vs 3.8% expected).
USD/JPY added 27 pips to 136.39. This morning, Japan's data showed that the gross domestic product grew at an annualized rate of 1.6% on quarter in the first quarter (vs +0.8% expected).
USD/CAD gained 11 pips to 1.3478. Canada's inflation rate ticked up to 4.4% on year in April (vs 3.9% expected).
AUD/USD declined 46 pips to 0.6654.
USD/CHF rose 10 pips to 0.8966.
Bitcoin dipped back below $27,000.
Market Wrap: Stocks, Bonds, Commodities
On Tuesday, U.S. stocks closed mostly lower. The Dow Jones Industrial Average fell 336 points (-1.01%) to 33,012, and the S&P 500 dropped 26 points (-0.64%) to 4,109, while the Nasdaq 100 pared earlier gains to close just 12 points higher (+0.09%) at 13,426.
Real estate (-2.67%), energy (-2.54%), and utilities (-2.3%) stock sectors lost the most, while media (+0.93%), and software & services (+0.48%) posted gains.
Alphabet (GOOGL) rose 2.57%. Hedge fund Pershing Square revealed a new stake worth over one billion dollars in the tech giant.
Amazon.com (AMZN) climbed 1.98%. Bloomberg reported that the company is planning to bring a ChatGPT-style search tool to its online store.
Home Depot (HD) slid 2.15%. The home improvement specialty retailer lower its full-year sales forecast.
Amgen (AMGN) fell 2.42%. The U.S. Federal Trade Commission sued to block the biotech-medicine developer's proposed 28-billion-dollar deal to buy Horizon Therapeutics Plc (HZNP) citing anti-competition concerns. Horizon Therapeutics (HZNP) sank 14.17%.
On the other hand, Baidu (BIDU) rose 3.97%. The Chinese tech giant posted better-than-expected quarterly earnings.
Capital One Financial (COF) gained 2.05% after a filing showed that Berkshire Hathaway Inc has taken a stake in the bank.
The U.S. 10-year Treasury yield gained a further 4 basis points to 3.541%.
U.S. data showed that retail sales grew 0.4% on month in April (vs +0.7% expected), and industrial production expanded 0.5% (vs -0.1% expected).
European stocks closed lower. The DAX 40 fell 0.12%, the CAC 40 dropped 0.16%, and the FTSE 100 was down 0.34%.
U.S. WTI crude futures declined $0.60 to $70.55 a barrel.
Gold price slid $27 to $1,988 an ounce.
Market Wrap: Forex
The U.S. dollar index climbed to 102.60.
EUR/USD dropped 12 pips to 1.0862. In Germany, the ZEW economic sentiment index fell to -10.7 in May (vs -2 expected).
GBP/USD slid 48 pips to 1.2481. U.K. data showed that the latest jobless rate rose to 3.9% (vs 3.8% expected).
USD/JPY added 27 pips to 136.39. This morning, Japan's data showed that the gross domestic product grew at an annualized rate of 1.6% on quarter in the first quarter (vs +0.8% expected).
USD/CAD gained 11 pips to 1.3478. Canada's inflation rate ticked up to 4.4% on year in April (vs 3.9% expected).
AUD/USD declined 46 pips to 0.6654.
USD/CHF rose 10 pips to 0.8966.
Bitcoin dipped back below $27,000.
MARKET COMMENTARY
Market Wrap: Stocks, Bonds, Commodities
On Wednesday, U.S. stocks rallied leading major indexes to gain over 1%. The Dow Jones Industrial Average climbed 408 points (+1.24%) to 33,420, the S&P 500 rose 48 points (+1.19%) to 4,158, and the Nasdaq 100 gained 163 points (+1.22%) to 13,589.
Banks (+4.46%), automobiles (+4.03%), and semiconductors (+2.42%) stock sectors led the market higher.
Tesla (TSLA) rose 4.41%. Chief executive Elon Musk revealed at the company's shareholders meeting that it is working on two new vehicle models.
Nvidia (NVDA) jumped 3.30%, and cloud-based software firm ServiceNow (NOW) added 5.27%. Both companies announced plans to jointly develop generative artificial intelligence (AI) capabilities.
Alphabet (GOOGL) climbed 1.11%, Amazon.com (AMZN) advanced 1.85%, and Meta Plaforms (META) gained 1.53%.
Western Alliance Bancorp (WAL) surged 10.19%. The regional bank reported a deposit growth in the current quarter.
Target (TGT) rose 2.58%. The discount retailer posted better-than-expected first-quarter sales and earnings.
Regarding U.S. economic data, the number of housing starts rose 2.2% on month in April (vs -1.5% expected), and the number of building permits dropped 1.5% (vs +0.2% expected).
The U.S. 10-year Treasury yield rose 4.3 basis points further to 3.577%.
European stocks closed mixed. The DAX 40 rose 0.34%, while the CAC 40 declined 0.09%, and the FTSE 100 was down 0.36%.
U.S. WTI crude futures increased $1.80 to $72.69 a barrel. The U.S. Energy Department reported an addition of 5.04 million barrels in crude-oil stockpiles (vs a reduction of 0.92 million barrels expected).
Gold price dropped $6 to $1,982 an ounce.
Market Wrap: Forex
The U.S. dollar got firmer against other major currencies. The dollar index rose to 102.85.
EUR/USD fell 24 pips to 1.0838, while GBP/USD was little changed at 1.2487.
USD/JPY jumped 126 pips to 137.65. This morning, Japan's data showed that trade deficit narrowed to 432.4 billion yen in April (vs 690.0 billion yen expected), with export growth slowing to 2.6% on year (vs 3.0% expected).
AUD/USD added 6 pips to 0.6662.
USD/CHF gained 21 pips to 0.8986, while USD/CAD slipped 33 pips to 1.3449.
Bitcoin managed to hold the $27,000 level and climbed to $27,400.
Market Wrap: Stocks, Bonds, Commodities
On Wednesday, U.S. stocks rallied leading major indexes to gain over 1%. The Dow Jones Industrial Average climbed 408 points (+1.24%) to 33,420, the S&P 500 rose 48 points (+1.19%) to 4,158, and the Nasdaq 100 gained 163 points (+1.22%) to 13,589.
Banks (+4.46%), automobiles (+4.03%), and semiconductors (+2.42%) stock sectors led the market higher.
Tesla (TSLA) rose 4.41%. Chief executive Elon Musk revealed at the company's shareholders meeting that it is working on two new vehicle models.
Nvidia (NVDA) jumped 3.30%, and cloud-based software firm ServiceNow (NOW) added 5.27%. Both companies announced plans to jointly develop generative artificial intelligence (AI) capabilities.
Alphabet (GOOGL) climbed 1.11%, Amazon.com (AMZN) advanced 1.85%, and Meta Plaforms (META) gained 1.53%.
Western Alliance Bancorp (WAL) surged 10.19%. The regional bank reported a deposit growth in the current quarter.
Target (TGT) rose 2.58%. The discount retailer posted better-than-expected first-quarter sales and earnings.
Regarding U.S. economic data, the number of housing starts rose 2.2% on month in April (vs -1.5% expected), and the number of building permits dropped 1.5% (vs +0.2% expected).
The U.S. 10-year Treasury yield rose 4.3 basis points further to 3.577%.
European stocks closed mixed. The DAX 40 rose 0.34%, while the CAC 40 declined 0.09%, and the FTSE 100 was down 0.36%.
U.S. WTI crude futures increased $1.80 to $72.69 a barrel. The U.S. Energy Department reported an addition of 5.04 million barrels in crude-oil stockpiles (vs a reduction of 0.92 million barrels expected).
Gold price dropped $6 to $1,982 an ounce.
Market Wrap: Forex
The U.S. dollar got firmer against other major currencies. The dollar index rose to 102.85.
EUR/USD fell 24 pips to 1.0838, while GBP/USD was little changed at 1.2487.
USD/JPY jumped 126 pips to 137.65. This morning, Japan's data showed that trade deficit narrowed to 432.4 billion yen in April (vs 690.0 billion yen expected), with export growth slowing to 2.6% on year (vs 3.0% expected).
AUD/USD added 6 pips to 0.6662.
USD/CHF gained 21 pips to 0.8986, while USD/CAD slipped 33 pips to 1.3449.
Bitcoin managed to hold the $27,000 level and climbed to $27,400.
MARKET COMMENTARY
Market Wrap: Stocks, Bonds, Commodities
On Thursday, U.S. stocks advanced further following a sharp rally Wednesday. The Dow Jones Industrial Average rose 115 points (+0.34%) to 33,535, the S&P 500 climbed 39 points (+0.94%) to 4,198, and the Nasdaq 100 jumped 245 points (+1.81%) to 13,834.
Semiconductors (+3.59%), media (+2.15%), and software & services (+1.74%) stock sectors gained the most, while household & personal products (-1.15%) and telecoms services (-0.85%) sectors underperformed the market.
Micron Technology (MU) rose 4.08%. The chip maker announced plans to invest up to 500 billion yen ($3.70 billion) to manufacture next-generation chips in Japan.
Peer semiconductor stocks also performed well. Nvidia (NVDA) climbed 4.97%, Lam Research (LRCX) gained 4.29%, Broadcom (AVGO) advanced 3.11%, and Applied Materials (AMAT) was up 3.36%.
NetFlix (NFLX) jumped 9.22%. The video-streaming service provider reported that its ad-supported service tier has nearly 5 million active users per month.
Palantir Technologies (PLTR) surged 14.54%. Cathie Wood's Ark Investment Management revealed buying 1.26 million shares in the data mining company for its exchange traded funds.
Walmart (WMT) added 1.30%. The the retail giant posted better-than-expected quarterly earnings, and raised its full-year guidance.
Take-Two Interactive Software (TTWO) bounced 11.69%. The video game publisher's quarterly sales exceeded expectations.
The U.S. 10-year Treasury yield charged 8.2 basis points higher to 3.646%.
Regarding U.S. economic data, the latest number of initial jobless claims fell to 242,000 (vs 270,000 expected). The Philadelphia Fed manufacturing index improved to -10.4 in May (vs -22.0 expected).
European stocks also closed higher. The DAX 40 rose 1.33%, the CAC 40 gained 0.64%, and the FTSE 100 was up 0.25%.
U.S. WTI crude futures declined $0.80 to $72.00 a barrel.
Gold price slid $24 to $1,957 an ounce.
Market Wrap: Forex
The U.S. dollar kept strengthening against other major currencies. The dollar index advanced to 103.52.
EUR/USD dropped 65 pips to 1.0775.
USD/JPY climbed 101 pips to 138.69. This morning, Japan's data showed that the inflation rate accelerate to 3.5% on year in April (vs 3.2% expected).
GBP/USD slid 78 pips to 1.2409.
AUD/USD fell 36 pips to 0.6624.
USD/CHF gained 64pips to 0.9048.
USD/CAD rose 43 pips to 1.3498. Canada's new housing price index dipped 0.1% on month in April (as expected).
Bitcoin lack upward momentum falling over 2% to $26,840.
Market Wrap: Stocks, Bonds, Commodities
On Thursday, U.S. stocks advanced further following a sharp rally Wednesday. The Dow Jones Industrial Average rose 115 points (+0.34%) to 33,535, the S&P 500 climbed 39 points (+0.94%) to 4,198, and the Nasdaq 100 jumped 245 points (+1.81%) to 13,834.
Semiconductors (+3.59%), media (+2.15%), and software & services (+1.74%) stock sectors gained the most, while household & personal products (-1.15%) and telecoms services (-0.85%) sectors underperformed the market.
Micron Technology (MU) rose 4.08%. The chip maker announced plans to invest up to 500 billion yen ($3.70 billion) to manufacture next-generation chips in Japan.
Peer semiconductor stocks also performed well. Nvidia (NVDA) climbed 4.97%, Lam Research (LRCX) gained 4.29%, Broadcom (AVGO) advanced 3.11%, and Applied Materials (AMAT) was up 3.36%.
NetFlix (NFLX) jumped 9.22%. The video-streaming service provider reported that its ad-supported service tier has nearly 5 million active users per month.
Palantir Technologies (PLTR) surged 14.54%. Cathie Wood's Ark Investment Management revealed buying 1.26 million shares in the data mining company for its exchange traded funds.
Walmart (WMT) added 1.30%. The the retail giant posted better-than-expected quarterly earnings, and raised its full-year guidance.
Take-Two Interactive Software (TTWO) bounced 11.69%. The video game publisher's quarterly sales exceeded expectations.
The U.S. 10-year Treasury yield charged 8.2 basis points higher to 3.646%.
Regarding U.S. economic data, the latest number of initial jobless claims fell to 242,000 (vs 270,000 expected). The Philadelphia Fed manufacturing index improved to -10.4 in May (vs -22.0 expected).
European stocks also closed higher. The DAX 40 rose 1.33%, the CAC 40 gained 0.64%, and the FTSE 100 was up 0.25%.
U.S. WTI crude futures declined $0.80 to $72.00 a barrel.
Gold price slid $24 to $1,957 an ounce.
Market Wrap: Forex
The U.S. dollar kept strengthening against other major currencies. The dollar index advanced to 103.52.
EUR/USD dropped 65 pips to 1.0775.
USD/JPY climbed 101 pips to 138.69. This morning, Japan's data showed that the inflation rate accelerate to 3.5% on year in April (vs 3.2% expected).
GBP/USD slid 78 pips to 1.2409.
AUD/USD fell 36 pips to 0.6624.
USD/CHF gained 64pips to 0.9048.
USD/CAD rose 43 pips to 1.3498. Canada's new housing price index dipped 0.1% on month in April (as expected).
Bitcoin lack upward momentum falling over 2% to $26,840.
MARKET COMMENTARY
Market Wrap: Stocks, Bonds, Commodities
On Friday, U.S. stocks closed slightly lower after debt-ceiling negotiations between President Joe Biden and top Republican Kevin McCarthy stalled. The Dow Jones Industrial Average fell 109 points (-0.33%) to 33,426, the S&P 500 dropped 6 points (-0.14%) to 4,191, and the Nasdaq 100 was down 31 points (-0.23%) to 13,803.
The consumer durables & apparel (-2.69%), retailing (-1.4%), and semiconductors (-0.82%) stock sectors lost the most.
Foot Locker (FL) plunged 27.24% after the athletic footwear and apparel retailer cut its annual sales forecast.
Apparel retailer Gap Inc (GPS) also fell 4.07%.
Applied Materials (AMAT) slid 2.29%. The semiconductor-industry equipment maker projected declining sales for the current quarter.
Morgan Stanley (MS) dropped 2.66% as CEO James Gorman said he would step down in the next 12 months.
On the other hand, Occidental Petroleum (OXY) rose 1.51% after Berkshire Hathaway reported an extra stake in the oil & gas exploration company.
The U.S. 10-year Treasury yield gained a further 3.3 basis points to 3.678%.
European stocks closed higher. The DAX 40 rose 0.69%, the CAC 40 gained 0.61%, and the FTSE 100 was up 0.19%.
U.S. WTI crude futures settled relatively flat at $71.71 a barrel.
Gold price rebounded $20 to $1,977 an ounce.
Market Wrap: Forex
The U.S. dollar retreated against other major currencies after Federal Reserve Chair Jerome Powell hinted that the central bank may not need to raise interest rates as aggressively as before.
The dollar index declined to 103.18.
EUR/USD rose 36 pips to 1.0806. Germany's data showed that producer-price growth slowed to 4.1% on year in April (vs 6.1% expected).
USD/JPY dropped 74 pips to 137.97.
GBP/USD gained 35 pips to 1.2444, and AUD/USD rose 28 pips to 0.6650.
USD/CHF declined 56 pips to 0.8996.
USD/CAD was little changed at 1.3501. Canada's data showed that retail sales declined 1.4% on month in March (as expected).
Over the weekend, Bitcoin failed to secure the $27,000 level.
Market Wrap: Stocks, Bonds, Commodities
On Friday, U.S. stocks closed slightly lower after debt-ceiling negotiations between President Joe Biden and top Republican Kevin McCarthy stalled. The Dow Jones Industrial Average fell 109 points (-0.33%) to 33,426, the S&P 500 dropped 6 points (-0.14%) to 4,191, and the Nasdaq 100 was down 31 points (-0.23%) to 13,803.
The consumer durables & apparel (-2.69%), retailing (-1.4%), and semiconductors (-0.82%) stock sectors lost the most.
Foot Locker (FL) plunged 27.24% after the athletic footwear and apparel retailer cut its annual sales forecast.
Apparel retailer Gap Inc (GPS) also fell 4.07%.
Applied Materials (AMAT) slid 2.29%. The semiconductor-industry equipment maker projected declining sales for the current quarter.
Morgan Stanley (MS) dropped 2.66% as CEO James Gorman said he would step down in the next 12 months.
On the other hand, Occidental Petroleum (OXY) rose 1.51% after Berkshire Hathaway reported an extra stake in the oil & gas exploration company.
The U.S. 10-year Treasury yield gained a further 3.3 basis points to 3.678%.
European stocks closed higher. The DAX 40 rose 0.69%, the CAC 40 gained 0.61%, and the FTSE 100 was up 0.19%.
U.S. WTI crude futures settled relatively flat at $71.71 a barrel.
Gold price rebounded $20 to $1,977 an ounce.
Market Wrap: Forex
The U.S. dollar retreated against other major currencies after Federal Reserve Chair Jerome Powell hinted that the central bank may not need to raise interest rates as aggressively as before.
The dollar index declined to 103.18.
EUR/USD rose 36 pips to 1.0806. Germany's data showed that producer-price growth slowed to 4.1% on year in April (vs 6.1% expected).
USD/JPY dropped 74 pips to 137.97.
GBP/USD gained 35 pips to 1.2444, and AUD/USD rose 28 pips to 0.6650.
USD/CHF declined 56 pips to 0.8996.
USD/CAD was little changed at 1.3501. Canada's data showed that retail sales declined 1.4% on month in March (as expected).
Over the weekend, Bitcoin failed to secure the $27,000 level.
MARKET COMMENTARY
Market Wrap: Stocks, Bonds, Commodities
On Monday, U.S. stocks closed mixed. The Nasdaq 100 gained 46.25pts (+0.34%) to 13,849, the S&P 500 was nearly flat at 4,192, while and the Dow Jones Industrial Average fell 140 points (-0.42%) to 33,286.
Automobiles (+3.93%), media (+1.26%), and banks (+0.75%) stock sectors were the top performers, while consumer durables & apparel (-2.59%), household & personal products (-2.32%), and consumer services (-1.64%) sectors were under pressure.
Tesla (TSLA) advanced 4.85% posting a five-session rally.
Meta Platforms (META) rose 1.09%. The parent company of Facebook said it will appeal the European Union's decided that it has to pay a record fine of $1.3 billion on privacy concerns.
Pfizer (PFE) climbed 5.38%. The drug maker reported positive results from its experimental weight-loss pill.
PacWest Bancorp (PACW) surged 19.55%. The regional bank announced plans to sell $2.6 billion worth of real estate loans to shore up capital.
On the other hand, Micron Technology (MU) fell 2.85%. The chip maker's products have been banned by China on security concerns.
Foot Locker (FL) dropped a further 8.54% after being downgraded to "neutral" from "buy" at Citi.
Nike (NKE) lost 3.99%.
The U.S. 10-year Treasury yield added a further 4 basis points to 3.713%.
European stocks also closed mixed. The DAX 40 fell 0.32%, the CAC 40 slipped 0.18%, while the FTSE 100 was up 0.18%.
U.S. WTI crude futures rose $0.44 to $71.99 a barrel.
Gold price declined $5 to $1,972 an ounce.
Market Wrap: Forex
The U.S. dollar index edged higher to 103.24.
EUR/USD gained 9 pips to 1.0814. The Eurozone's official consumer confidence index was little changed at -17.4 for May (vs -16.0 expected).
USD/JPY climbed 60 pips to 138.58. This morning, the Jibun Bank Japan manufacturing purchasing managers index posted at 50.8 for May (vs 50.2 expected), the first expansion reading (over 50) in seven months.
GBP/USD eased 7 pips to 1.2438.
AUD/USD was flat at 0.6651. This morning, the Judo Bank manufacturing Australia purchasing managers index posted at 48.0 for May (vs 47.6 expected).
USD/CHF declined 19 pips to 0.8978, while USD/CAD was little changed at 1.3506.
Bitcoin traded higher to $26,860.
Market Wrap: Stocks, Bonds, Commodities
On Monday, U.S. stocks closed mixed. The Nasdaq 100 gained 46.25pts (+0.34%) to 13,849, the S&P 500 was nearly flat at 4,192, while and the Dow Jones Industrial Average fell 140 points (-0.42%) to 33,286.
Automobiles (+3.93%), media (+1.26%), and banks (+0.75%) stock sectors were the top performers, while consumer durables & apparel (-2.59%), household & personal products (-2.32%), and consumer services (-1.64%) sectors were under pressure.
Tesla (TSLA) advanced 4.85% posting a five-session rally.
Meta Platforms (META) rose 1.09%. The parent company of Facebook said it will appeal the European Union's decided that it has to pay a record fine of $1.3 billion on privacy concerns.
Pfizer (PFE) climbed 5.38%. The drug maker reported positive results from its experimental weight-loss pill.
PacWest Bancorp (PACW) surged 19.55%. The regional bank announced plans to sell $2.6 billion worth of real estate loans to shore up capital.
On the other hand, Micron Technology (MU) fell 2.85%. The chip maker's products have been banned by China on security concerns.
Foot Locker (FL) dropped a further 8.54% after being downgraded to "neutral" from "buy" at Citi.
Nike (NKE) lost 3.99%.
The U.S. 10-year Treasury yield added a further 4 basis points to 3.713%.
European stocks also closed mixed. The DAX 40 fell 0.32%, the CAC 40 slipped 0.18%, while the FTSE 100 was up 0.18%.
U.S. WTI crude futures rose $0.44 to $71.99 a barrel.
Gold price declined $5 to $1,972 an ounce.
Market Wrap: Forex
The U.S. dollar index edged higher to 103.24.
EUR/USD gained 9 pips to 1.0814. The Eurozone's official consumer confidence index was little changed at -17.4 for May (vs -16.0 expected).
USD/JPY climbed 60 pips to 138.58. This morning, the Jibun Bank Japan manufacturing purchasing managers index posted at 50.8 for May (vs 50.2 expected), the first expansion reading (over 50) in seven months.
GBP/USD eased 7 pips to 1.2438.
AUD/USD was flat at 0.6651. This morning, the Judo Bank manufacturing Australia purchasing managers index posted at 48.0 for May (vs 47.6 expected).
USD/CHF declined 19 pips to 0.8978, while USD/CAD was little changed at 1.3506.
Bitcoin traded higher to $26,860.
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