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Market Wrap: Stocks, Bonds, Commodities
On Friday, U.S. stocks closed mixed. The Dow Jones Industrial Average climbed 169 points (+0.50%) to 33,869, the S&P 500 rose 8 points (+0.22%) to 4,090, while the Nasdaq 100 fell 76 points (-0.62%) to 12,304.
The U.S. 10-year Treasury Yield jumped 8.4bps to 3.742%.
Regarding U.S. economic data, the University of Michigan consumer sentiment index rose to 66.4 in February (vs 65.0 expected).
Investors are watching closely U.S. inflation data which will be released on Tuesday (February 14). It is expected that the inflation rate ticked down to 6.3% on year in January.
Energy (+3.92%), utilities (+2.00%), and food, beverage & tobacco (+1.08%) sectors gained the most, while automobiles (-4.52%), semiconductors (-2.02%), and media (-1.13%) sectors were under pressure.
Marathon Oil Corp (MRO) rose 6.20%, Valero Energy (VLO) climbed 6.12%, and APA Corp (APA) was up 6.11%.
Tesla (TSLA) fell 5.03%, Ford Motor (F) dropped 5.63%, and Nvidia (NVDA) was down 4.80%.
Lyft (LYFT) plunged 36.44% after the ride-sharing company posted lower-than-expected fourth-quarter earnings and gave disappointing sales guidance.
Expedia (EXPE) fell 8.55% as the online travel agency's quarterly earnings missed expectations.
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News Corp (NWSA) slid 9.37%. The media conglomerate reported lower-than-expected quarterly earnings, and announced plans to cut about 1,250 jobs this year, or 5% of its work-force.
PayPal (PYPL) rose 3.03%. The online payment firm reported quarterly sales that missed expectations, and said CEO Dan Schulman will retire at the year-end.
European stocks closed lower. The Dax 40 fell 1.39%, the CAC 40 dropped 0.82%, and the FTSE 100 was down 0.36%.
U.S. WTI crude futures gained $1.80 (+2.31%) to $79.84 a barrel.
Gold price added $3 to $1,865 an ounce.
Market Wrap: Forex
The U.S. dollar index stepped up to 103.58.
EUR/USD dropped 63 pips to 1.0677.
USD/JPY fell 21 pips to 131.38.
GBP/USD dropped 65 pips to 1.2056. U.K. data showed that the gross domestic product declined 0.5% on month in December (vs -0.1% expected), while industrial production grew 0.3% on month (vs -0.2% expected).
USD/CAD slid 111 pips to 1.3343. Canada's data showed that the economy added 150,000 jobs in January, much higher than an addition of 15,000 jobs expected.
AUD/USD declined 17 pips to 0.6919.
USD/CHF added 15 pips to 0.9238.
Bitcoin traded lower to $21,700.
Morning Trading
In Asian trading hours, USD/JPY rebounded further to 131.85.
Meanwhile, EUR/USD fell to 1.0665 and GBP/USD remained subdued at 1.2048.
Gold retreated to $1,861.
Bitcoin edged up to $21,767.
Expected Today
No major economic data expected.
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