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.
Use the link below and code fx for 5% discount.
larkfunding.com
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.
Use the link below and code fx for 5% discount.
larkfunding.com