| |
| |
Market Wrap: Stocks, Bonds, Commodities
On Monday, U.S. stocks extended their losing streak to a fourth session, as negative sentiment lingered. The Dow Jones Industrial Average declined 162 points (-0.49%) to 32,757, the S&P 500 fell 34 points (-0.91%) to 3,817, and the Nasdaq 100 was down 159 points (-1.42%) to 11,084.
Consumer durables & apparel (-2.34%), media (-2.32%), and retailing (-2.05%) sectors lost the most.
Meta Platforms (META) fell 4.14%, as the European Commission alerted the social technology company that its Facebook Marketplace is breaching European Union antitrust laws.
L3Harris Technologies (LHX) slid 3.62% after the aerospace and defense company agreed to buy Aerojet Rocketdyne (AJRD) for $4.7 billion. The latter rose 1.29% following the news.
Accenture (ACN) dropped a further 3.43% as Jefferies lowered its price target on the stock to $279 from $290.
The U.S. 10-year Treasury yield jumped 10.6 basis points to 3.588%.
European stocks closed higher. The DAX 40 rose 0.36%, the CAC 40 added 0.32%, and the FTSE 100 was up 0.40%.
U.S. WTI crude futures gained $1.40 to $75.69 a barrel.
Gold price was down $5 to $1,787 an ounce.
Market Wrap: Forex
The U.S. dollar index was stable at 104.72.
EUR/USD climbed 18 pips to 1.0604. Germany's Ifo business climate index improved to 88.6 in December (vs 87.0 expected).
USD/JPY increased 42 pips to 137.02.
GBP/USD dipped 5 pips to 1.2143.
AUD/USD added 11 pips to 0.6696.
USD/CHF slid 42 pips to 0.9295, and USD/CAD declined 45 pips to 1.3654.
Bitcoin traded lower to $16,400.
Morning Trading
In Asian trading hours, USD/JPY plunged to 133.75 from 137.02 in the prior session, as the Bank of Japan adjusted its yield curve control.
The Bank of Japan kept its benchmark rate unchanged at -0.10% as expected, while increasing monthly Japanese government bond purchases to 9 trillion yen from 7.3 trillion yen. The central bank said it will expand the range of 10-year government bond yield fluctuations to plus and minus 0.5 percentage points from previous range of plus and minus 0.25 percentage points.
Meanwhile, EUR/USD edged up to 1.0620 and GBP/USD climbed to 1.2150.
Gold rebounded to $1,794.
Bitcoin rose to $16,695.
Expected Today
The eurozone's December consumer confidence index is expected at -24.6, while October current account deficit is estimated at 16 billion euros.
Germany's producer prices index is expected to be up 30.8% on year in November.
In the U.S., annualized housing starts are estimated at 1.40 million units and building permits are expected at 1.48 million units. | | |
| |
| |
|
