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Market Wrap: Stocks, Bonds, Commodities
On Friday, U.S. stocks closed higher before the Christmas holidays. The Dow Jones Industrial Average climbed 176 points (+0.53%) to 33,203, the S&P 500 rose 22 points (+0.59%) to 3,844, and the Nasdaq 100 was up 29 points (+0.27%) to 10,985.
Energy (+3.16%), retailing (+1.36%), and media (+1.24%) sectors led the market higher.
APA Corp (APA) jumped 5.73%, Halliburton (HAL) rose 4.13%, Devon Energy (DVN) gained 3.99%, and Bath & Body Works (BBWI) was up 3.97%.
Nutanix (NTNX) declined 7.90% after Hewlett Packard Enterprise (HPE) said there were no takeover discussions with the cloud company.
AMC Entertainment (AMC) slumped 10.60% after the company announced a 10-to-1 reverse stock split.
From a technical point of view, Chevron (CVX +3.09% to $177.4) and McDonald's (MCD +0.68% to $267.57) crossed above their 50-day moving average.
Regarding U.S. economic data, durable goods orders declined 2.1% on month in November (vs -0.5% expected). Personal income rose 0.4% on month in November (vs +0.3% expected), and personal spending added 0.1% (vs +0.3% expected).
Also, the number of new home sales increased 5.8% on month in November (vs -5.0% expected). The University of Michigan consumer sentiment index was finalized at 59.7 for December (vs 59.1 in the previous estimate).
The U.S. 10-year Treasury yield slipped 1.04 basis points to 3.786%.
U.S. markets were closed on Monday for Christmas holiday, and will be open on Tuesday.
European stocks closed mixed. The DAX 40 gained 0.19%, while the CAC 40 fell 0.20%, and the FTSE 100 edged down 0.05%.
U.S. WTI crude futures climbed $2.20 to $79.67 a barrel.
Gold price increased $5 to $1,797 an ounce.
Market Wrap: Forex
The U.S. dollar index slipped to 104.30.
EUR/USD added 22 pips to 1.0618. France’s data showed that producer prices jumped 21.5% on year in November (vs +20.3% expected).
USD/JPY gained 49 pips to 132.84.
GBP/USD climbed 14 pips to 1.2052.
AUD/USD increased 48 pips to 0.6718.
USD/CHF added 19 pips to 0.9330, and USD/CAD was down 64 pips to 1.3592.
Bitcoin held up well at $16,800.
Morning Trading
In Asian trading hours, USD/JPY was steady at 132.80. Official data released this morning showed that Japan's jobless rate fell to 2.5% in November, compared with 2.6% expected and in October, while retail sales rose 2.6% on year, below 4.0% estimated.
Meanwhile, EUR/USD climbed to 1.0645 and GBP/USD rose to 1.2098.
Gold advanced to $1,806.
Bitcoin edged up to $16,874.
Expected Today
In the U.S., wholesale inventories are expected to be up 0.3% on month in November, while goods trade deficit is estimated at 97 billion dollars. Also, December Dallas Fed manufacturing index is anticipated at -11.0. Meanwhile, October FHFA house price index is expected to drop 0.3% on month and S&P Case-Shiller home price index is estimated to fall 1.2%. | | |
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