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Market Wrap: Stocks, Bonds, Commodities |
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On Friday, U.S. stocks stabilized after a dramatic intraday reverse to the downside on Thursday, with the Nasdaq 100 rebounding 185 points (+0.77%) to 24,239.
The S&P 500 closed 64 points higher (+0.98%) at 6,602, and the Dow Jones Industrial Average was up 493 points (+1.08%) to 46,245.
For the whole week, the Nasdaq 100 lost 3.07%, posting a three-week losing streak.
Tech stocks markedly outperforming the market on Friday included Alphabet (GOOGL) +3.53%, Apple (AAPL) +1.97%, Intel (INTC) +2.62%, and Micron Technology (MU) +2.98%.
Nvidia (NVDA) dipped 0.96% after sliding 3% in the prior session. Reports said the Trump administration may allow the chip-maker to sell its H200 chips to China.
Eli Lilly (LLY) ended 1.60% higher, becoming the first drugmaker to attain a market capitalization of one trillion dollars.
Gap (GAP) jumped 8.24%, and Intuit (INTU) climbed 4.03%, as both companies posted upbeat quarterly results.
The U.S. 10-year Treasury yield dipped further to 4.067%.
In Europe, the DAX 40 fell 0.80%, while the CAC 40 edged up 0.02%, and the FTSE 100 was up 0.13%.
Gold price eased 12 dollars to 4,065 dollars an ounce.
U.S. WTI crude futures kept showing downward momentum, dropping 94 cents (-1.59%) to 58.06 dollars a barrel.
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The U.S. dollar index held up well at 100.20.
EUR/USD fell 13 pips to 1.1515, extending its decline to a sixth session.
USD/JPY retreated 104 pips to 156.42, halting a four-session rally.
GBP/USD was up for a second section, adding 35 pips to 1.3105. U.K. retail sales unexpectedly dropped 1.1% month on month in October.
AUD/USD rebounded 21 pips to 0.6458.
USD/CHF advanced 21 pips to 0.8077, and USD/CAD added 6 pips to 1.4102 posting a three-session rally.
Bitcoin tested the support at 80,000 dollars on Friday, but bounced back to levels above 87,000 over the weekend.
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In Asian trading hours, EUR/USD was little changed at 1.1516, while GBP/USD eased to 1.3095.
Meanwhile, USD/JPY rebounded to 156.67.
Gold dropped to 4,045 dollars.
Bitcoin climbed to 87,479 dollars.
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Germany's Ifo business climate index is expected to drop to 88.0 in November.
In the U.S., Dallas Fed manufacturing index is estimated to improve to -1.0 in November.
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