Shares on Wall Street fell last Fri. The S&P 500 Index posted its fifth straight weekly drop, the longest losing streak since Jun 2011. The 10-year US Treasury yield rose, after the US Labor Department’s Apr jobs report showed US hiring advanced at a robust pace, adding to concerns about surging inflation.
The Dow Jones Industrial Average lost 98.60 pts, or 0.3%, to close at 32,899.37. The S&P 500 index fell 0.57%. The tech-heavy Nasdaq Composite retreated 1.4%. The small cap Russell 2000 dropped 1.69%. Megacap tech stocks fell last Fri, including Microsoft (MSFT US, -0.94%) Amazon (AMZN US, -1.40%), Alphabet (GOOGL US, -0.65%), Nvidia (NVDA US, -0.90%), and Meta Platforms (FB US, -2.17%). Apple (AAPL US, +0.33%) was the exception.
It looks as if today (Mon) is going to be another down day for US stocks. In early trade, futures tied to the Dow Jones Industrial Average are down about 0.7%. The S&P 500 futures have shed 0.8%, while Nasdaq 100 futures have lost 0.8%
The yield on the 10-year Treasury note notched up 9.0 basis points (bps) to 3.1265%, while the yield on the 2-year Treasuries rose 2.74 bps to 2.7308%. The front-month Brent and WTI futures closed up $1.49 at US$112.39/bbl and $1.51 at US$109.77/bbl respectively. US gasoline futures in New York settled at a record high on Fri.
The ICE dollar index (DXY), which measures the strength of the greenback against a basket of currencies, fell 0.09% to 103.660.
The most actively traded US gold futures (Jun) contracts settled up $7.10 or 0.4%, at US$1,882.80/oz. July silver, which is the most actively traded silver futures, fell 7.6 cents, or 0.3%, to end at US$22.367/oz.
Bitcoin (XBTUSD) fell below US$35,000 on Sun for the first time since Jan. Bitcoin fell 8.4% on Thur when the Nasdaq Composite shed 4.11% after the Fed 50 bps rate hike.
European equity markets finished lower last Fri. The UK FTSE lost 1.54%, France's CAC 40 fell 1.73%, while the German DAX retreated 1.64%.