Skilledfundedtraders Coupon Code

[supertrader9]

Skilled Funded Traders is a proprietary trading firm seeking experienced traders to participate in our 2-Stage evaluation process and potentially become a funded trader. Upon successfully completing the evaluation, traders can remotely manage funds and grow their account through our scaling plan. As a Skilled Funded Traders, you can retain 80% of the profits you generate, while any losses incurred will be covered by our company.

Expires 21/7/2023
20% Discount on all challenges

Coupon Code 5% Off
FX5

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[supertrader9]

MARKET COMMENTARY


Market Wrap: Stocks, Bonds, Commodities

On Friday, U.S. stocks showed a lack of momentum. The Dow Jones Industrial Average edged up 2 points (+0.01%) to 35,227, the S&P 500 added 1 point (+0.03%) to reach 4,536, while the Nasdaq 100 declined 40 points (-0.26%) to 15,425.

The U.S. Federal Reserve is widely expected to raise interest rates by 25 basis points in the coming Wednesday after pausing in June.

Pharmaceuticals & biotechnology (+1.65%), utilities (+1.50%), and household & personal products (+1.14%) stock sectors were the top performers, while automobiles (-1.04%), banks (-0.83%), and Media (-0.64%) sectors underperformed the market.

Tesla (TSLA) slipped a further 1.10% after tumbling over 9% Thursday.

Netflix (NFLX) lost a further 2.27% after sliding over 8% in the prior session.

American Express (AXP), a payment company, fell 3.86%, CSX Corp (CSX), a freight transportation firm, dropped 3.71%, and Intuitive Surgical (ISRG), a developer of medical robotic systems, declined 3.16%. All these three companies reported down-beat quarterly results.

Texas Instruments (TXN) rose 2.45%. Japanese bank Mizuho raised its target price on the semiconductor designer to $185.

In Europe, the DAX 40 declined 0.17%, while the CAC 40 rose 0.65%, and the FTSE 100 was up 0.23%.

U.S. WTI crude futures increased $1.42 to $77.07 a barrel, the highest level since April 25.

Gold price dipped $7 to $1,962 an ounce.

Market Wrap: Forex

The U.S. dollar stayed firm against other major currencies. The dollar index advanced to 101.06.

EUR/USD dipped 4 pips to 1.1126. On Thursday, the European Central Bank is expected to hike its key interest rate by 25 basis points to 4.25%.

GBP/USD was down 8 pips to 1.2860. U.K. data showed that retail sales grew 0.70% on month in June (vs +0.10% expected). The GfK consumer confidence index declined to -30 in July (vs -26 expected).

USD/JPY jump 166 pips to 141.73. On Friday, the Bank of Japan is expected to keep its key interest rate unchanged at negative level of -0.100%.

This morning, the Jibun Bank Japan manufacturing purchasing managers index dipped to 49.4 in July (vs 50.0 expected).

AUD/USD sank 48 pips to 0.6731. This morning, the Judo Bank Australia manufacturing purchasing managers index improved to 49.6 in July (vs 47.6 expected).

USD/CHF declined 8 pips to 0.8660.

USD/CAD added 43 pips to 1.3215. In Canada, retail sales increased 0.20% on month in May (vs +0.50% expected).

Over the weekend, Bitcoin managed to get hold of the key level of $30,000.

 

[supertrader9]

Getting Started
General information to know about Skilled Funded Traders


General

What is Skilled Funded Traders?

How Do I Get Started?

Receiving Your Account

How many accounts can I trade and is there a maximum account size I can trade?

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Trading

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Spreads and Commissions

Instruments

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Lot Size Limit


Restrictions

Countries with Limitations on Payouts and Affiliates

Age Restrictions

Payment Methods We Support


Verification

Trader Identity Verification and KYC through Sumsub

 

[supertrader9]

MARKET COMMENTARY


Market Wrap: Stocks, Bonds, Commodities

On Thursday, U.S. stocks closed lower after a choppy session. The Dow Jones Industrial Average retreated 237 points (-0.67%) to 35,282 halting a 13-session rally, the longest one since 1987.

The S&P 500 fell 29 points (-0.64%) to 4,537, and the Nasdaq 100 ended 34 points lower (-0.22%) at 15,464.

The U.S. 10-year Treasury yield climbed back to level above 4%, as U.S. economic data came out stronger than expected. U.S. gross domestic product (GDP) growth accelerated to an annualized rate of 2.4% on quarter in the second quarter (vs +1.8% expected).

The latest number of initial jobless claims declined to 221,000 (vs 231,000 expected), and durable goods orders jumped 4.7% on month in June (vs +0.6% expected).

Automobiles (-2.62%), telecom services (-2.03%), and real estate (-1.90%) stock sectors lost the most.

Tesla (TSLA) fell 3.27%, Netflix (NFLX) dropped 2.25%, and Microsoft (MSFT) was down 2.09%.

Meta Platforms (META) rose 4.40%, and AbbVie (ABBV) gained 4.90%. Both companies posted upbeat quarterly results.

Ebay (EBAY) slumped 10.53%, Chipotle Mexican Grill (CMG) sank 9.81%, and Southwest Airlines (LUV) dropped 8.94%. These companies' quarterly results missed market expectations.

In after-market hours, Intel (INTC) jumped over 7% after the chip-maker's second-quarter results showed a return to profitability after two straight quarters of losses.

European stocks closed higher. The DAX 40 rose 1.70%, the CAC 40 gained 2.05%, and the FTSE 100 was up 0.21%.

U.S. WTI crude futures added $1.10 to $79.85 a barrel.

Gold price tumbled $27 to $1,944 an ounce.

Market Wrap: Forex

Backed by strong economic data, the U.S. dollar regained some strength against other major currencies. The dollar index rebounded to 101.79.

EUR/USD plunged 117 pips to 1.0969, even though the European Central Bank raised its key interest rate by 25 basis points, as widely expected, to 3.75%.

Germany's GfK consumer confidence index ticked higher to -24.4 for August (vs -24.0 expected).

USD/JPY declined 82 pips to 139.42. Later today the Bank of Japan is expected to maintain its ultra-loose monetary-policy stance (key interest rate at negative -0.100%).

GBP/USD slid 151 pips to 1.2790.

AUD/USD fell 54 pips to 0.6704.

USD/CHF gained 89 pips to 0.8697, and USD/CAD rose 23 pips to 1.3231.

Bitcoin failed to rebound further, and slipped back to $29,160.

 

[supertrader9]

MARKET COMMENTARY


Market Wrap: Stocks, Bonds, Commodities

On Friday, U.S. stocks advanced closed higher. The Dow Jones Industrial Average rose 176 points (+0.50%) to 35,459, the S&P 500 climbed 44 points (+0.99%) to 4,582, and the Nasdaq 100 was up 286 points (+1.85%) to 15,750.

Investors saw U.S. inflation moderate and the Bank of Japan tweak its monetary policy.

U.S. data showed that the core personal consumption expenditure (PCE) price index's growth slowed to 4.1% on year in June, the smallest increase since September 2021.

The Bank of Japan said it will offer to buy 10-year Japanese government bonds (JGBs) at 1.0% through fixed-rate operations, signaling that it could tolerate a rise in the 10-year yield to as much as 1.0%, compared to 0.5% previously.

The U.S. 10-year Treasury yield dipped back to levels below 4%.

Automobiles (+3.09%), media (+2.48%), and household & personal products (+2.04%) stock sectors led the market higher Friday.

Meta Platforms (META) rose 4.42%, Tesla (TSLA) climbed 4.20%, Amazon.com (AMZN) advanced 3.09%, Alphabet (GOOGL) gained 2.46%, Microsoft (MSFT) added 2.31%, and Apple (AAPL) was up 1.35%.

Palantir Technologies (PLTR), a data mining company, surged 10.28%.

After posting satisfactory quarterly results, Roku (ROKU) soared 31.41%, Intel (INTC) rose 6.60%, and Procter & Gamble (PG) added 2.83%.

On the other hand, Enphase Energy (ENPH) fell 7.48% and Ford Motor (F) dropped 3.42% after reporting results.

In Europe, the DAX 40 rose 0.39%, the CAC 40 gained 0.15%, and the FTSE 100 edged up 0.02%.

U.S. WTI crude futures increased $0.49 to $80.58 a barrel. On a weekly basis, oil prices posted a five-week winning streak.

Gold price rebound $13 to $1,959 an ounce.

Market Wrap: Forex

The yen saw volatile trading on Friday after the Bank of Japan seemed to allow a higher 10-year Japanese government bond yield. And as expected, the central bank kept its key interest rate unchanged at -0.100%. USD/JPY slid 161 pips to 141.09.

This morning, Japan's data showed that retail sales declined 0.4% on month in June (vs +0.8% expected), while industrial production was up 2.0% on month (vs +2.1% expected).

EUR/USD rose 42 pips to 1.1021. The Eurozone's economic sentiment index declined to 94.5 in July (vs 94.0 expected).

Germany's data showed no growth in gross domestic product in the second quarter (vs +0.3% on quarter expected), and the inflation rate slowed to 6.2% on year in July (vs 6.1% expected).

France's gross domestic product grew 0.5% on quarter in the second quarter (vs +0.1% expected), and its inflation rate slowed to 4.3% on year in July (as expected).

GBP/USD gained 58 pips to 1.2854.

AUD/USD slid 56 pips to 0.6653.

USD/CHF added 7 pips to 0.8698.

USD/CAD increased 10 pips to 1.3234. Canada's data showed that gross domestic product grew 0.3% on month in May (vs +0.4% expected).

Bitcoin kept trading within a tight range between $29,100 and $29,500.

 

[supertrader9]

 

[supertrader9]

MARKET COMMENTARY


Market Wrap: Stocks, Bonds, Commodities

On Wednesday, U.S. stocks fell, impacted by an unexpected downgrade of the U.S. credit rating by Fitch Ratings. The Dow Jones Industrial Average slid 348 points (-0.98%) to 35,282, the S&P 500 dropped 63 points (-1.38%) to 4,513, and the Nasdaq 100 slumped 347 points (-2.21%) to 15,370.

Fitch downgraded the U.S. rating to AA+ from AAA citing expected fiscal deterioration over the next three years.

The U.S. 10-year Treasury yield climbed 4.7 basis points to 4.070%.

The worst-performing sectors during the trading session were semiconductors (-4.22%), automobiles (-2.7%), and software & services (-2.48%).

Advanced Micro Devices (AMD) fell 7.02% despite facts that the chip maker posted higher-than-expected earnings and provided upbeat revenue forecast, and that the stock was upgraded to "buy" at Citi.

SolarEdge Technologies (SEDG) plunged 18.36%, and Virgin Galactic (SPCE) lost 4.35%. Both companies reported disappointing quarterly results.

On the other hand, with upbeat earnings reports, CVS Health (CVS) rose 3.33%, and Humana (HUM) gained 5.60%.

Regarding U.S. economic data, the ADP jobs report showed the economy added 324,000 private jobs in July (vs +210,000 expected).

European stocks also closed lower. The DAX 40 fell 1.36%, the CAC 40 dropped 1.26%, and the FTSE 100 was down 1.36%.

U.S. WTI crude futures declined $1.60 to $79.77 a barrel. The U.S. Energy Department reported a reduction of 17.05 million barrels in crude-oil stockpiles (vs -1.37 million barrels expected).

Gold price sank a further $9 to $1,935 an ounce.

Market Wrap: Forex

The U.S. dollar strengthened against other major currencies despite Fitch's U.S. credit rating downgrade. The dollar index climbed to 102.64.

EUR/USD fell 47 pips to 1.0937.

GBP/USD dropped 67 pips to 1.2710. Later today, the Bank of England is expected to raise its key rate by 25 basis points to 5.25%.

USD/JPY advanced a further 8 pips to 143.42.

AUD/USD sank a further 72 pips to 0.6541, the lowest close since May 31.

USD/CHF added 27 pips to 0.8780, and USD/CAD was up 67 pips to 1.3348.

Bitcoin once touched the key level of $30,000 before falling back to $29,130.

 

[supertrader9]

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[supertrader9]

MARKET COMMENTARY


Market Wrap: Stocks, Bonds, Commodities

On Monday, U.S. stocks closed in positive territory. The Dow Jones Industrial Average jumped 407 points (1.16%) to 35,473, the biggest one-day gain since June 15. The S&P 500 rose 40 points (0.90%) to 4,518, and the Nasdaq 100 climbed 132 points (0.87%) to 15,407.

The U.S. 10-year Treasury yield rebounded 5.9 basis points to 4.093%.

Media (2.06%), consumer services (2.05%), and diversified financials (1.46%) stock sectors led the market higher, while technology hardware & equipment (-1.26%) and automobiles (-0.67%) sectors lagged behind.

U.S. Stock Highlights:

- Tesla (TSLA) declined 0.95% to $251.45. The electric-vehicle maker announced that Vaibhav Taneja will replace Zachary Kirkhorn as its finance chief.

- Apple (AAPL) fell 1.73% to $178.85 posting a five-session decline.

- Alphabet (GOOGL) rose 2.67% to $131.53.

- Berkshire Hathaway (BRK/B) climbed 3.60% to a record close of $362.58. The investment holding company under Warren Buffett reported an 8.2% on year surge in second-quarter operating profit to $10.04 billion.

- United Airlines (UAL) advanced 2.50% to $53.68.

- Boeing (BA) gained 2.98% to $238.25.

- Monster Beverage (MNST) jumped 6.13% to $58.49.

- Mercadolibre Inc (MELI) added 4.83% to $1,358.81.

- Booking Holdings (BKNG) was up 5.87% to $3,243.01.

European stocks closed mixed. The DAX 40 was little changed, the CAC 40 edged up 0.06%, and the FTSE 100 declined 0.13%.

U.S. WTI crude futures fell $0.88 to $81.94 a barrel.

Gold price slipped $6 to $1,936 an ounce.

Market Wrap: Forex

The U.S. dollar held up well against other major currencies, as Federal Reserve officials said additional interest-rate hikes are likely. The dollar index edged up to 102.10.

EUR/USD eased 4 pips to 1.1002. Germany's data showed that industrial production shrank 1.5% on month in June, worse than a reduction of 0.2% expected.

USD/JPY rebounded 70 pips to 142.46 halting a two-session decline.

GBP/USD rose 34 pips to 1.2783. The U.K. Halifax house price index dipped 0.3% on month in July (vs -0.6% expected).

AUD/USD added 5 pips to 0.6575. This morning, Australia's Westpac consumer confidence index declined slightly to 81.0 in August (vs 80.7 expected).

USD/CHF was little changed at 0.8729, while USD/CAD dipped 10 pips to 1.3369.

Bitcoin managed to hold at levels above $29,100.

 

[supertrader9]

MARKET COMMENTARY


Market Wrap: Stocks, Bonds, Commodities

On Thursday, major U.S. stock indexes pared most of their gains seen earlier in the session to close slightly higher. The Dow Jones Industrial Average rose 52 points (+0.15%) to 35,176, the S&P 500 added 1 point (+0.03%) to 4,468, and the Nasdaq 100 was up 27 points (+0.18%) to 15,128.

U.S. data showed that the inflation rate ticked up to 3.2% on year in July, compared to 3.1% expected and 3.0% in June. The latest number of initial jobless claims increased to 248,000 (vs 229,000 expected).

Meanwhile, the U.S. 10-year Treasury yield rebounded 8.6 basis points to 4.094%.

Consumer services (+0.6%) and media (+0.45%) stock sectors ended higher, while consumer durables & apparel (-1.59%), capital goods (-0.45%), and semiconductors (-0.39%) sectors were under pressure.

Walt Disney (DIS) rose 4.88%. The entertainment and media giant posted better-than-expected quarterly earnings, and announced plans to raise prices of its Disney+ video-streaming services.

General Motors (GM) fell 5.79%, and Ford Motor (F) dropped 4.48%, as investors feared that demands from unions could send the car-makers' labor costs soaring.

Tapestry (TPR), the parent company of luxury clothing & accessories brand Coach, said it has agreed to acquire Capri Holdings (CPRI), the owner of brand Michael Kors, in an $8.5 billion deal. Tapestry's share price plunged 15.93%, while Capri Holdings surged 55.74%.

Alibaba (BABA) gained 4.60%, as the Chinese e-commerce giant's quarterly sales exceeded expectations.

European stocks also closed higher. The DAX 40 rose 0.91%, the CAC 40 climbed 1.52%, and the FTSE 100 was up 0.41%.

U.S. WTI crude futures retreated $1.50 to $82.88 a barrel.

Gold price declined $2 to $1,912 an ounce.

Market Wrap: Forex

The U.S. dollar held onto its recent strength. The dollar index climbed to 102.65.

USD/JPY jumped 105 pips to 144.78, the highest level since July 3.

EUR/USD added 7 pips to 1.0981.

GBP/USD dropped 42 pips to 1.2677. In the U.K., the Royal Institute of Chartered Surveyors house price index declined to -53% in July (vs -48% expected).

AUD/USD edged down 6 pips to 0.6522.

USD/CHF dipped 5 pips to 0.8768, while USD/CAD rose 23 pips to 1.3442.

Bitcoin traded slightly lower to $29,440.

 

[supertrader9]

MARKET COMMENTARY


Market Wrap: Stocks, Bonds, Commodities

On Friday, U.S. stocks extended their rally to a fifth session. The Dow Jones Industrial Average climbed 222 points (+0.66%) to 34,061, the S&P 500 gained 40 points (+0.94%) to 4,358, and the Nasdaq 100 jumped 179 points (+1.21%) to 15,099.

On a weekly basis, the S&P 500 rose 5.85%, and the Nasdaq 100 was up 6.48%, the biggest weekly gains for the indexes since November 2022.

U.S. official data showed that the number of nonfarm payrolls just increased 150,000 in October (vs +190,000 expected, +297,000 in September). The jobless rate climbed to 3.9% (vs +3.8% expected), and the average hourly earnings added 0.2% on month (vs +0.3% expected).

The Institute for Supply Management (ISM) services purchasing managers index fell to 51.8 in October (vs 53.7 expected).

Downbeat economic data were translated into good news for the stock market, as expectations grew that the Federal Reserve should be done with its rate-hike cycle.

The U.S. 10-year Treasury yield sank a further 8.7 basis points to 4.570%.

Semiconductors (+2.62%), consumer durables & apparel (+2.39%), and consumer services (+2.33%) stock sectors led the market higher Friday.

Block Inc (SQ) surged 10.69%. The digital payments company's quarterly earnings and full-year guidance exceeded expectations.

Also, after posting better-than-expected quarterly results, Expedia (EXPE) soared 18.84%, and Live Nation Entertainment (LYV) rose 3.53%.

Moderna (MRNA) rebounded 8.84%. The stock was upgraded to "hold" at HSBC.

On the other hand, Apple (AAPL) dipped 0.52%, as investors were disappointed by the tech giant's quarterly revenue from Greater China and the whole company's current-quarter sales outlook.

Fortinet (FTNT) plunged 12.35%, as the cybersecurity firm provided a downbeat fourth-quarter billings forecast.

Over the weekend, Berkshire Hathaway (BRKA) reported that third-quarter operating earnings increased 41% on year to $10.8 billion, with its cash pile swelling to a record of $157 billion.

In Europe, the DAX 40 closed 0.30% higher, while the CAC 40 declined 0.19%, and the FTSE 100 was down 0.39%.

U.S. WTI crude futures dropped $1.90 to $80.51 a barrel.

Gold price added $6 to $1,992 an ounce.

Market Wrap: Forex

The U.S. dollar weakened further as Treasury yields kept retreating. The dollar index once touched a six-week low of 104.93.

EUR/USD jumped 110 pips to 1.0732. The Eurozone's jobless rate rose to 6.5% in September (as expected).

France's data showed that industrial production declined 0.5% on month in September (vs -0.2% expected).

USD/JPY lost the key level of 150 as it dropped 110 pips to 149.35.

GBP/USD surged 179 pips (+1.47%) to 1.2382, its biggest daily gain since January.

AUD/USD gained 78 pips to 0.6512.

USD/CHF lost 69 pips to 0.8991.

USD/CAD slid 76 pips to 1.3663. Canada's data showed that the number of full-time jobs fell 3,300 in October (vs +20,000 expected), while the jobless rate climbed to 5.7% (vs 5.5% expected).

Over the weekend, Bitcoin regained the key level of $35,000.

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[BattMaclaren]

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[supertrader9]

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[supertrader9]

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[supertrader9]

Market Wrap: Stocks, Bonds, Commodities

On Tuesday, U.S. stocks saw volatile trading and closed mixed. The Dow Jones Industrial Average eased 79 points (-0.22%) to 36,124, the S&P 500 dipped 2 points (-0.06%) to 4,567, while the Nasdaq 100 rose 38 points (+0.24%) to 15,877.

The U.S. 10-year Treasury yield sank a further 8.8 basis points to 4.165%, the lowest level since September.

U.S. Labor Department reported that job openings fell to 8.73 million in October (vs 9.40 million expected), the lowest level since early 2021.

The U.S. Institute for Supply Management (ISM) services purchasing managers index rose to 52.7 in November (vs 51.5 expected).

Telecoms services (+1.74%), technology hardware & equipment (+1.60%), and automobiles & components (+0.89%) stock sectors gained the most in the session, while household & personal products (-3.05%), energy (-1.70%), and materials (-1.37%) sectors underperformed the market.

Nvidia (NVDA) rebounded 2.32%, Apple (AAPL) bounced 2.11%, while Amazon.com (AMZN), Tesla (TSLA) and Alphabet (GOOGL) were all up over 1%.

CVS Health (CVS) gained 3.71%. The healthcare company gave a better-than-expected sales outlook for 2024, and raised its quarterly dividend by about 10%.

Robinhood Markets (HOOD) jumped 10.26%. The stock trading application developer reported that crypto trading volume increased 75% on month in November.

On the other hand, Procter & Gamble (PG) fell 3.49%. The household products company said it could record after-tax charges of up to $2.5 billion due to restructuring and impairment.

Charter Communications (CHTR) dropped 8.70%, Albemarle Corp (ALB) slid 5.60%, Goldman Sachs (GS) fell 2.19%, and Walt Disney (DIS) was down 1.33%.

In Europe, the DAX 40 rose 0.78%, the CAC 40 gained 0.74%, while the FTSE 100 declined 0.31%.

U.S. WTI crude oil futures fell $0.51 (-0.70%) to 72.53 a barrel.

Gold price retreated a further $9 (-0.49%) to $2,019 an ounce.

Market Wrap: Forex

The U.S. dollar index climbed to 103.95.

EUR/USD dropped 37 pips to 1.0799. Eurozone data showed that producer prices fell 9.4% on year in October (vs -9.5% expected).

USD/JPY dipped 6 pips to 147.15.

GBP/USD declined 37 pips to 1.2596.

AUD/USD dropped 69 pips to 0.6551. As widely expected, the Reserve Bank of Australia kept its key interest rate unchanged at 4.35%.

This morning, Australia's data showed that gross domestic product grew 0.2% on quarter in the third quarter (vs +0.4% expected).

USD/CHF rose 21 pips to 0.8749, and USD/CAD gained 56 pips to 1.3593.

USD/CNH jumped 249 pips to 7.1734. Ratings agency Moody's cut its outlook on China's government credit ratings to "negative" from "stable".

Bitcoin continued to see pumping after surpassing the $40,000 level, running up to $45,000 this morning.

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[supertrader9]

MARKET WRAP: STOCKS, BONDS, COMMODITIES


On Wednesday, U.S. stocks closed lower. The Dow Jones Industrial Average fell 70 points (-0.19%) to 36,054, the S&P 500 dropped 17 points (-0.39%) to 4,549, and the Nasdaq 100 was down 89 points (-0.56%) to 15,788.

The U.S. 10-year Treasury yield lost a further 5.7 basis points to 4.108%.

The ADP employment report showed that the economy added 103,000 private jobs in November (vs +125,000 expected).

Energy (-1.64%), semiconductors (-1.44%), and software & services (-0.94%) sectors underperformed the most during the trading session.

Nvidia (NVDA) retreated 2.28% again, Amazon.com (AMZN) fell 1.61%, and Microsoft (MSFT) was down 1.00%.

NIO (NIO) rose 4.31%. The Chinese electric-vehicle maker plans to spin off its battery production unit, according to Reuters.

Tobacco majors Philip Morris International (PM) fell 1.56%, and Altria Group (MO) dropped 2.84%, as London-listed British American Tobacco reported a $31.5 billion write-down in the value of some U.S. cigarette brands.

Box Inc (BOX) sank 10.19%. The cloud content management platform's quarterly earnings missed expectations.

Block Inc (SQ) rose 4.79%. The online payment company was maintained at "overweight" at Barclays.

Plug Power (PLUG) declined 5.90%. The hydrogen fuel cell maker was downgraded to "underweight" at Morgan Stanley.

European stocks closed higher, with the DAX 40 rising 0.75%, the CAC 40 up 0.66%, and the FTSE 100 up 0.34%.

U.S. WTI crude oil futures tumbled $3.16 (-4.37%) to $69.16 a barrel, the lowest level since June.

U.S. data showed that gasoline stock-piles rose 5.4 million barrels, much more than an addition of 1.03 million barrels analysts expected.

Gold price gained $5 to $2,024 an ounce.


MARKET WRAP: FOREX


The U.S. dollar held up well against other major currencies, as the dollar index stepped up to 104.18.

USD/CAD edged up 2 pips to 1.3594. As widely expected, Canada's central bank kept its key interest rate unchanged at 5.00%.

Also, Canada's Ivey purchasing managers index rose to 54.7 in November (vs 53.5 expected).

EUR/USD lost 33 pips to 1.0764. The Eurozone's retail sales grew 0.1% on month in October (vs +0.3% expected).

Germany's factory orders fell 3.7% on month in October (vs +0.1% expected).

USD/JPY gained 20 pips to 147.35.

GBP/USD fell 37 pips to 1.2558.

AUD/USD dipped 3 pips to 0.6549. This morning, Australia's data showed that trade surplus widened to A$7.13 billion in October with exports growing 0.4% on month.

USD/CHF was little changed at 0.8749.

Bitcoin slipped below the $44,000 handle.

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[supertrader9]

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[supertrader9]

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[supertrader9]

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Offer ends January 31st.

 

[supertrader9]

MARKET WRAP: STOCKS, BONDS, COMMODITIES



On Thursday, all the three major U.S. stock indexes closed at record levels again, with the Dow Jones Industrial Average rising 242 points (+0.64%) to 38,049, the S&P 500 up 25 points (+0.53%) to 4,894, and the Nasdaq 100 up 17 points (+0.10%) to 17,516.

Energy (+2.23%), telecom services (+2.16%), and household & personal products (+2.09%) stock sectors were the top performers, while automobiles & components (-9.66%), health care equipment & services (-0.56%), and insurance (-0.33%) sectors lost the most.

Alphabet (GOOGL) advanced 2.13% to $151.87, a record close.

Microsoft (MSFT, +0.57%) and Nvidia (NVDA, +0.42%) also closed at record levels.

Tesla (TSLA) plunged 12.13% to $182.63, the lowest level since last May. The electric-vehicle maker posted lower-than-expected fourth-quarter results, and warned of lower vehicle volume growth in 2024.

Boeing (BA) fell 5.72% after U.S. aviation authorities did not allow the plane-maker to expand production of its 737 MAX jet.

Humana (HUM) dropped 11.69%, as the health-insurance provider's 2024 earnings forecast missed expectations

On the other hand, IBM (IBM) jumped 9.49% after giving an upbeat full-year revenue growth forecast and announced plans to cut jobs.

In after-market hours, Intel (INTC) sank 8% as the chip maker's first-quarter result guidance significantly fell short of market expectations.

Meanwhile, the U.S. 10-year Treasury yield retreated 5.8 basis points to 4.120%.

Regarding U.S. economic data, the gross domestic product grew at an impressive annualized rate of 3.3% on quarter in the fourth quarter (vs +2.3% expected). Durable goods orders showed no growth in December (vs +0.1% expected).

The latest number of initial jobless claims increased to 214,000 (vs 192,000 expected). New home sales climbed 8.0% on month in December (as expected).

European stocks closed higher, with the DAX 40 adding 0.10%, the CAC 40 up 0.11%, and the FTSE 100 up 0.03%.

U.S. WTI crude-oil rose $2.09 (+2.78%) to $77.18 a barrel. Oil prices were boosted by faster-than-expected U.S. economic growth and persistent tensions in the Red Sea.

Gold price gained $7 to $2,019 an ounce.





MARKET WRAP: FOREX



The U.S. dollar was firm against other major currencies, as upbeat U.S. economy growth suggested the Federal Reserve would not cut interest rates very soon. The dollar index climbed to 103.51.

EUR/USD fell 40 pips to 1.0843. As expected, the European Central Bank (ECB) decided to keep its key interest rates unchanged at 4.00%. ECB President Christine Lagarde said it was premature to discuss rate cuts.

Germany's Ifo business climate index declined to 85.2 in January (vs 87.1 expected). France's business confidence index remained stable at 99 in January (as expected).

USD/JPY gained 18 pips to 147.68. This morning, Japan's data showed that Tokyo's core inflation rate slowed to 1.6% on year in January (vs 1.9% expected).

GBP/USD slipped 14 pips to 1.2709, while AUD/USD added 7 pips to 0.6583.

USD/CHF rose 45 pips to 0.8672.

USD/CAD dropped 53 pips to 1.3469. Canada's data showed that manufacturing sales dropped 0.6% on month in December (vs +0.4% expected).

Bitcoin continued to dance around the key level of $40,000.



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