U.S. Stocks Overnight | Nasdaq and S&P 500 Decline Weekly, Spot Gold Rises 2.49%

Stock News12-13 07:38

On Friday, the three major U.S. stock indices fell, with the Dow and S&P 500 retreating from record highs. Philadelphia Fed President Paulson suggested room for further rate cuts, while former U.S. President Trump expressed a preference for Warsh or Hassett as the next Fed chair, emphasizing communication on interest rates. The S&P 500 dropped 0.63% this week, while the Nasdaq fell 1.62%. The Dow, however, gained 1.05% weekly.

**U.S. Stocks** At close, the Dow fell 245.96 points (0.51%) to 48,458.05; the Nasdaq dropped 398.69 points (1.69%) to 23,195.17; and the S&P 500 declined 73.59 points (1.07%) to 6,827.41. Tesla (TSLA.US) rose 2.7%, Nvidia (NVDA.US) fell 3.27%, Broadcom (AVGO.US) plunged 11.43%, and Apple (AAPL.US) edged up 0.09%.

**European Stocks** Germany’s DAX30 lost 100.81 points (0.42%) to 24,177.40; the UK’s FTSE 100 fell 62.26 points (0.64%) to 9,640.90; France’s CAC40 dipped 17.14 points (0.21%) to 8,068.62; and the Euro Stoxx 50 slid 36.01 points (0.63%) to 5,717.95.

**Asia-Pacific Stocks** Japan’s Nikkei 225 fell 0.9%, South Korea’s KOSPI dropped 0.59%, India’s BSE SENSEX rose 0.51%, and Indonesia’s Composite Index declined 0.92%.

**Forex & Crypto** The Bloomberg Dollar Index inched up less than 0.1% in thin trading but posted a weekly loss. Bitcoin fell over 2% to $90,352.04, while Ethereum dropped over 4%, slipping below $3,100.

**Precious Metals** Spot gold rose 0.47%, closing above $4,300 with a weekly gain of 2.49%. COMEX gold futures climbed 0.48% to $4,333.60/oz, up 2.14% weekly, peaking at $4,387.80 on Friday. Expectations of Fed rate cuts and geopolitical risks fueled demand.

**Oil** January WTI crude fell 0.28% to $57.44, while February Brent dropped 0.26% to $61.12/barrel.

**Macro Highlights** - Cleveland Fed President Mester favored a slightly restrictive stance to curb inflation, calling the current policy "roughly neutral." - The 30-year U.S. Treasury yield hit its highest since September at 4.86%, while the 2-year yield was flat weekly. - Nasdaq gained discretion to reject high-risk IPOs under new SEC rules. - Goldman Sachs projected S&P 500 at 7,600 by 2026, with tech giants driving nearly half the growth.

**Corporate News** Oracle (ORCL.US) denied reports of delays in OpenAI-related data center construction, reaffirming commitment to timelines.

**Ratings** UBS initiated coverage on Delta Air Lines (DAL.US) with a "Buy" rating and $90 target.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment