Last week compared to the broader market has been weaker technology stocks to carry the flag again, led by Facebook, a number of leading technology stocks rose at least 1%, the Nasdaq rallied, the fourth day in the last five trading days to record highs. But the Dow fell back under the weight of Boeing-led constituents, and the S&P had turned lower during the day, with the energy and financial sectors that led last week leading the way down.
Among individual stocks, Facebook jumped more than 4% at midday, with shares and market capitalization both hitting record highs, thanks to a U.S. federal court judge’s ruling that regulator Federal Trade Commission (FTC) antitrust charges against Facebook were not substantiated and the threat of Facebook being broken up eased. Google, the worst performer among blue-chip technology stocks, was investigated by the U.S. Department of Justice for display advertising and was down for most of the session before turning higher in late trading. Boeing fell more than 3.7 percent at one point in the session, leading the Dow components lower. Media said Boeing was warned by U.S. regulators that it would not approve its long-range 777X model until 2023. nvidia once rose 5.5% intraday, shares rose above $800 for the first time intraday, its acquisition of Arm deal for the first time to get the chip giant public support, Broadcom, MediaTek and Marvelll became the first public expression of support for nvidia acquisition of Arm customers. Daily Fresh, a leading Chinese fresh food e-commerce company that fell more than 20% on its first day of trading on Friday, recorded another double-digit intraday drop.
U.S. bond prices rebounded and yields retreated, with the yield on the 10-year U.S. bond once retracing more than half of last week’s cumulative gains during the session. The U.S. dollar index fluctuated slightly, and European shares turned up during the session after setting a new daily low at the beginning of the session, once rising above 92.00. Although British regulators blocked the world’s largest cryptocurrency exchange Coinan last weekend, banning all its regulated activities in the U.K., cryptocurrencies were not affected, along with the dollar’s intraday weakness, Bitcoin once regained $35,000, and the second largest cryptocurrency Ether was up more than 10%.
In commodities, crude oil, which has been rising for days, fell to a one-week low, as markets worry that the spread of the new crown mutation virus in Europe, Southeast Asia and Australia will weaken fuel demand; while U.S. natural gas futures continued to hit a new high of nearly two-and-a-half years as markets expect high temperatures in the western U.S. to increase fuel demand; copper continued to fall. Commentary said that LME warehouse copper stocks hit a new high since May last year, while copper premiums in Yangshan have picked up, still close to the trough since February 2016, indicating weak demand for Chinese imports, with increased inventories and Chinese demand both factors affecting copper prices; precious metals gold and silver continue to rise. However, analysts noted that gold is still not likely to regain the 100-day average.
In the European market, the entry ban on British passengers sparked market concerns, and European stocks, which had been rising for days, retreated, led by tourism stocks, while European bond prices rebounded and yields of British-led European countries’ government bonds rebounded. Hong Kong, China, announced a ban on passenger flights from the U.K. arriving in Hong Kong as of July 1. Germany considers banning Britons from entering the EU, with or without vaccination, over fears of the spread of a mutated strain of Delta, media said.
Nasdaq makes four record highs in five days Facebook leads leading tech stocks S&P makes three-day record high but energy and financial sectors lead declines
The three major U.S. stock indexes performed differently, with the Nasdaq Composite Index opening higher and performing best, ending the day up 1% when it set a new intraday high last Thursday; the S&P 500 Index rose 0.18% when it set a new intraday high at the beginning of the session, turning down more than once during the session, down 0.14% when it set a new daily low at lunchtime, and has since turned up and expanded at the end of the session, rising nearly 0.27% when it set a new intraday high for the third consecutive trading day. The Dow Jones industrial average remained down throughout the day, and once fell nearly 250 points during the session.
Eventually, the three major indices in the end of only two days of consecutive gains in the Dow closed lower, the S&P rose for three consecutive days, the Nasdaq rebounded. The Nasdaq closed up 0.98% at 14,500.51 points, closing above 14,400 points for the first time in its history, up to the record high set last Thursday for three consecutive days. The S&P closed up 0.23% at 4,290.61 points, closing at a record high for the third consecutive day. The Dow closed down 150.57 points, or 0.44%, at 34,283.27, down from the closing high set on Friday since June 11, giving back more than half of Friday’s gains.
Small-cap stocks underperformed the broader market, with the value-cap-dominated small-cap index Russell 2000 closing down 0.52%. The technology-heavy Nasdaq 100 closed up 1.25%, outperforming the broader market.
Dow components, down nearly 3.4% Boeing and down nearly 3.1% Chevron led the decline, American Express fell more than 2%; while Intel rose 2.8% led by gains, Microsoft, Apple, Salesforce rose more than 1%. S&P 500 of the 11 sectors, only four closed on Monday, down more than 3% of energy led by the decline, followed by a decline of more than 0.8% of the financial, industrial fell more than 0.5%, materials fell slightly. Up in the sector, utilities rose more than 1.7% to lead, followed by a 1.1% rise in information technology, the bottom of the essential consumer goods and real estate closed up less than 0.1%.
Leading technology stocks rose, Tesla rose 2.5%. FAANMG six major technology stocks, in addition to the final slight increase in Google’s parent company Alphabet, the other are at least up more than 1%, the lunchtime pull up Facebook closed up more than 4%, closing market value exceeded 1 trillion dollars for the first time, the stock price rose above $ 350 for the first time. Chip stocks rose together, semiconductor sector ETF SOXX rose more than 2%, Nvidia rose 5% to a new closing high.
Chinese stocks rose and fell, new energy vehicle stocks, Tucson Future rose about 16%, Azera Motors rose nearly 10%, Xiaopeng car rose more than 7%, ideal car rose more than 6%; brokerage stocks Fu Tu Securities rose more than 5%, Tiger Securities rose more than 4%. Among solar stocks, JinkoSolar rose nearly 23% and Daxin Energy rose 12%. Blockchain stocks, the ninth city rose 12%, Yibang International rose 5%, Jia Nan Technology rose 4%, Xunlei rose 3%. And Alibaba rose slightly. Daily Youxiang was down nearly 11% in the next day of trading, closing down nearly 8.5%; Poundland fell 2%, Jingdong and Aiki fell more than 1%, Tencent ADR fell nearly 0.9%.
European stocks, the pan-European stock index Euro Stoxx 600 index said goodbye to two days of consecutive gains, fell a week high, the CEO resigned British luxury brand Burberry (Burberry) shares fell 8.7% in the worst performance of the constituent stocks, while Nokia, which was upgraded by Goldman Sachs, rose nearly 6%. Among the sectors, travel and leisure, which fell more than 4.3%, led the decline, followed by oil and gas, which fell more than 2.3% and banks, which fell 2%, while health care and technology rose against the market. Spain’s stock index, weighed down by banking stocks, fell nearly 2%, the biggest drop in more than two months, leading the decline among major European stock indexes.
The U.S. dollar index turned up to rise above 92 during the session Bitcoin regained $35,000 during the day Ether rose 18 percent at one point
The ICE dollar index (DXY), which tracks the exchange rate of a basket of six major currencies, had fallen below 91.70 in early European shares to refresh the daily low, down nearly 0.17% during the day, European shares turned up mid-day, once rising above 92.00, refreshing the highs in the last four trading days, up nearly 0.18% during the day, before falling back, U.S. shares turned down in early trading, and turned up again at lunchtime.
By Monday’s U.S. stock market close, the dollar index was slightly above 91.89, up slightly during the day; the Bloomberg Dollar Spot Index rose 0.1%, with narrow swings throughout the day.
Bitcoin (BTC) continued to rise overall, European shares rose above $35,000 in early trading and once tested $35,300, refreshing the intraday high since last Friday, June 25, up nearly $3,000 from the intraday low in early Asian trading, with a percentage gain of nearly 9%, and has since fallen back, with U.S. shares having fallen below $34,000 before the bell, and U.S. shares having briefly regained $35,000 in early trading, with U.S. shares closing at above $34,300, up about 5% in the last 24 hours.
Ether (ETH), the second largest cryptocurrency after Bitcoin in terms of market capitalization, had risen above $2,100 in the European stock market, up to $2,140, a new intraday high since last Monday, June 21, up more than 18% from the intraday low in early Asian trading, and above $2,100 at the close of the U.S. stock market, up nearly 16% in 24 hours, the best intraday performance among mainstream cryptocurrencies.
CoinMarketCap data shows that mainstream cryptocurrencies rose on Monday, with the 12th largest cryptocurrency by market capitalization, Bitcoin Cash (BCH), accumulating more than 11% in the last 24 hours, the 14th largest cryptocurrency, Litecoin (LTC), up more than 8%, and the fourth, seventh, sixth and fifth largest cryptocurrencies, BNB, Ripple (XRP), Dogcoin (DOGE) and Cardano (ADA), respectively. ) and Cardano (ADA) rose nearly 8%, 7%, 6% and 5%, respectively.
U.K. bonds led the rally with 10-year U.S. bonds giving back half of last week’s yield gains
After accumulating more than 8 basis points last week, the U.S. 10-year benchmark Treasury yield continued to move down on Monday, the U.S. once tested 1.47% at lunchtime, refreshing the intraday lows within the last three trading days, down about 5 basis points during the day, to about 1.48% at the U.S. close, down 5 basis points during the day, basically back to the level before the Federal Reserve announced its monetary policy resolution last Wednesday.
European government bonds rebounded in price collectively on Monday, with British bond yields leading the decline. British 10-year benchmark government bond yields fell 5.6 basis points during the day to 0.722%; German government bond yields fell 3.5 basis points to -0.19% during the same period, all of which retracted last Friday’s gains.
Crude oil stops three-day streak to hit one-week low, natural gas continues to hit new highs of nearly two-and-a-half years
International crude oil futures bid farewell to a three-day streak of gains, falling off more than two-and-a-half-year highs. U.S. WTI crude fell below $73 for the first time in more than a week, and Brent crude fell below $75 for the first time in a week.
WTI August crude oil futures closed down $1.14, or 1.54%, at $72.91 per barrel; Brent August crude oil futures closed down $1.50, or 1.97%, at $74.68 per barrel, both hitting new closing lows since last Friday, June 18. On Friday, U.S. oil closed above $74 for the first time since October 2018, and Brewery oil rose above $76 to a new high since late October 2018.
U.S. gasoline and natural gas futures remained mixed. nymex July gasoline futures closed down 1.2% at $2.24 per gallon, down for a second day and further off the closing high for the spot month contract set last Thursday since October 2014. nymex July natural gas futures closed up 2.6% at about $3.59 million British thermal units, continuing to hit a new high since January 2019 .
London-based copper falls three straight, gold and silver two straight positives
London base metals futures continued to be mixed on Monday. Copper fell for a third straight day to close at $9,388 per tonne, falling below $9,400 for the first time in the last four sessions. Zinc fell for two consecutive days. Nickel ended a five-day streak of gains, falling more than three and a half months high. Aluminum rose for two days, hitting a new high of more than a week. Lead, which closed flat on Friday, hit a new high of more than a month. Lun tin rose for six consecutive days, hitting a new high of more than a week for three consecutive days.
New York gold futures rose slightly for two consecutive trading days, COMEX August gold futures closed up 0.2% at $ 1780.70 per ounce, remained below $ 1790 throughout the day.
New York silver futures also rose for two consecutive days, closing up 0.5% on Monday. Platinum ended a five-day streak of gains, closing down 0.5%, falling off the highs set on Friday since last Wednesday, June 16. Palladium, which just ended a four-day winning streak on Friday, rebounded, closing up 2.4%, approaching $2,700, a new high set last Thursday since June 16.
Gold, silver, copper and oil in the four major commodities, except for crude oil, which fell more than 1%, are less volatile.