MARKET COMMENTARY
On Monday, U.S. stocks closed mixed with tech stocks underperforming the market. The Nasdaq 100 declined 31 points (-0.24%) to 12,969, while the S&P 500 added 3 points (+0.09%) to 4,137, and the Dow Jones Industrial Average gained 66 points (+0.20%) to 33,875.
The U.S. 10-year Treasury yield retreated 7 basis points to 3.502%.
Energy (+1.54%), consumer durables & apparel (+1.05%), and health-care equipment & services (+1.02%) stock sectors gained the most, while telecoms services (-1.62%), software & services (-0.97%), and automobiles (-0.74%) sectors were under pressure.
Microsoft (MSFT) fell 1.40%. The tech giant will report quarterly results after the market closes on Tuesday.
Tesla (TSLA) dropped 1.53%. The electric-vehicle maker raised its 2023 capital expenditure forecast to up to $9 billion.
Micron Technology (MU), a producer of memory chips, lost 2.65%.
Fox Corp (FOX) declined 2.95%. The entertainment & media company announced that Tucker Carlson, one of the most popular Fox News prime-time hosts, will leave the network with immediate effect.
Regarding U.S. economic data, the Dallas Fed manufacturing index fell to -23.4 in April (vs -17.0 expected). The Chicago Fed national activity index was stable at -0.19 in March (vs -0.30 expected).
European stocks lack upward momentum. The DAX 40 fell 0.11%, the CAC 40 dipped 0.04%, and the FTSE 100 eased 0.02%.
U.S. WTI crude futures gained $0.80 to $78.72 a barrel.
Gold price climbed $6 to $1,989 an ounce.
The U.S. dollar softened against other major currencies. The dollar index declined to 101.35.
EUR/USD charged 59 pips higher to 1.1045. In Germany, the Ifo business climate index edged up to 93.6 in April (vs 94.4 expected).
USD/JPY added 13 pips to 134.29. Bank of Japan Governor Kazuo Ueda said the central bank must maintain monetary easing at present as trend inflation is below 2%.
GBP/USD rose 53 pips to 1.2485.
AUD/USD was little changed at 0.6690.
USD/CHF slid 44 pips to 0.8879, while USD/CAD was flat at 1.3537.
Bitcoin remained subdued at levels around $27,400.
On Monday, U.S. stocks closed mixed with tech stocks underperforming the market. The Nasdaq 100 declined 31 points (-0.24%) to 12,969, while the S&P 500 added 3 points (+0.09%) to 4,137, and the Dow Jones Industrial Average gained 66 points (+0.20%) to 33,875.
The U.S. 10-year Treasury yield retreated 7 basis points to 3.502%.
Energy (+1.54%), consumer durables & apparel (+1.05%), and health-care equipment & services (+1.02%) stock sectors gained the most, while telecoms services (-1.62%), software & services (-0.97%), and automobiles (-0.74%) sectors were under pressure.
Microsoft (MSFT) fell 1.40%. The tech giant will report quarterly results after the market closes on Tuesday.
Tesla (TSLA) dropped 1.53%. The electric-vehicle maker raised its 2023 capital expenditure forecast to up to $9 billion.
Micron Technology (MU), a producer of memory chips, lost 2.65%.
Fox Corp (FOX) declined 2.95%. The entertainment & media company announced that Tucker Carlson, one of the most popular Fox News prime-time hosts, will leave the network with immediate effect.
Regarding U.S. economic data, the Dallas Fed manufacturing index fell to -23.4 in April (vs -17.0 expected). The Chicago Fed national activity index was stable at -0.19 in March (vs -0.30 expected).
European stocks lack upward momentum. The DAX 40 fell 0.11%, the CAC 40 dipped 0.04%, and the FTSE 100 eased 0.02%.
U.S. WTI crude futures gained $0.80 to $78.72 a barrel.
Gold price climbed $6 to $1,989 an ounce.
The U.S. dollar softened against other major currencies. The dollar index declined to 101.35.
EUR/USD charged 59 pips higher to 1.1045. In Germany, the Ifo business climate index edged up to 93.6 in April (vs 94.4 expected).
USD/JPY added 13 pips to 134.29. Bank of Japan Governor Kazuo Ueda said the central bank must maintain monetary easing at present as trend inflation is below 2%.
GBP/USD rose 53 pips to 1.2485.
AUD/USD was little changed at 0.6690.
USD/CHF slid 44 pips to 0.8879, while USD/CAD was flat at 1.3537.
Bitcoin remained subdued at levels around $27,400.