On Thursday, the market continued to digest the Fed’s hawkish signals. Meanwhile, Israel continued its attacks on Lebanon, adding uncertainty to the fragile prospects for peace between the U.S. and Iran.
The U.S. Dollar Index extended its gains, reaching a high of 100.92 before closing up 0.44% at 100.82, hitting a more than one-year high;The benchmark 10-year U.S. Treasury yield closed at 4.459%, while the 2-year U.S. Treasury yield, which is sensitive to the Fed’s policy rate, closed at 4.187%.
Spot gold followed an inverted V-shaped pattern, briefly approaching the $4,330 mark during the session before falling steadily, erasing all of its intraday gains and approaching the $4,200 threshold, ultimately closing down 1.14% at $4,209.15 per ounce;Spot silver also rose initially before falling, ultimately closing down 3.22% at $65.72 per ounce.
International crude oil traded sideways as several supertankers began transiting the Strait of Hormuz following the signing of the U.S.-Iran agreement.WTI crude oil fell for the sixth consecutive trading day, ultimately closing down 0.46% at $75.42 per barrel; Brent crude oil closed up 0.63% at $79.02 per barrel.
All three major U.S. stock indices closed higher: the Dow Jones Industrial Average rose 0.14%, the S&P 500 gained 1.09%, and the Nasdaq Composite advanced 1.91%. SpaceX (SPCX.O) closed down 3.56%, having fallen as much as 10% during the session.The semiconductor sector remained strong throughout the day, with Marvell Technology (MRVL.O) up 7.27%, Intel (INTC.O) up 10.64%, and Micron Technology (MU.O) up 8.7%. The Nasdaq China Golden Dragon Index fell 0.89%.