Market Wrap: Stocks, Bonds, Commodities
On Thursday, the major U.S. indices showed sharp reversals, closing lower for the second time this week. Following the release of jobs data, CME FedWatch showed a 60% probability that the Federal Reserve would keep rates unchanged at the December meeting.
The S&P 500 slipped 103 points (-1.56%) to 6,538, the Nasdaq 100 fell 586 points (-2.38%) to 24,054, and the Dow dropped 386 points (-0.84%) to 45,752.
Sector performance was mostly negative, except for Consumer Staples (XLP). Meanwhile, Technology (XLK), Industrials (XLI), and Materials (XLB) underperformed the most.
U.S. nonfarm payrolls increased by 119,000 in September, above the 50,000 expected, while the unemployment rate climbed to 4.4%, higher than the 4.3% forecasted.
Nvidia (NVDA) tumbled 3.15% despite robust third-quarter results that exceeded expectations and an upbeat fourth-quarter revenue forecast. Peers Advanced Micro Devices (AMD) and Micron Technology (MU) tumbled 7.84% and 10.87%, respectively.
Wal-Mart (WMT) traded 6.46% higher, topping the S&P 500, as quarterly financial figures came in above estimates. Separately, the company plans to transfer its stock exchange listing to Nasdaq on December 9, with the ticker remaining "WMT".
Palo Alto Networks (PANW) sank 7.42% after announcing that it would buy startup Chronosphere for 3.35 billion dollars.
Bath & Body Works (BBWI) plunged 24.81% after cutting full-year guidance.
In after-hours trading, Intuit (INTU) rose after topping first-quarter revenue estimates and reaffirming full-year revenue guidance.
The VIX index jumped 2.76 points (+11.67%) to 26.42, and the U.S. 10-year yield declined to 4.086%.
In Europe, Germany's Dax rose 0.50%, France's Cac 40 gained 0.34%, and the U.K. FTSE 100 climbed 0.21%.
In the commodities market, Gold slipped 2 dollars (-0.05%) to 4,078 dollars, and WTI Crude Oil futures dropped 0.25 dollars (-0.42%) to 59.00 dollars.
Market Wrap: Forex
The dollar index rose 0.03 points (+0.03%) to 100.26.
EUR/USD fell 11 pips (-0.1%) to 1.1525. Germany's producer price index fell 1.8% on a yearly basis in October, against -1.6% expected.
GBP/USD advanced 9 pips (+0.07%) to 1.3065.
USD/JPY rose 40 pips (+0.25%) to 157.55, up for a fourth straight session.
USD/CHF climbed 8 pips (+0.1%) to 0.8061.
AUD/USD dropped 37 pips (-0.57%) to 0.6440, while USD/CAD surged 48 pips (+0.34%) to 1.4098.
In the cryptocurrencies market, Bitcoin tumbled 3,512 dollars (-3.88%) to a 7-month low at 87,022 dollars, and Ethereum dropped 124 dollars (-4.16%) to 2,864 dollars, its lowest level since July.
Source : Trading Central