On Thursday, the U.S. Dollar Index continued to decline throughout the day. After Federal Reserve Governor Waller made remarks, traders scaled back their expectations for a Fed rate hike in September, causing the index’s decline to widen further. It ultimately closed down 0.56% at 98.99;The benchmark 10-year U.S. Treasury yield closed down 0.9 basis points at 4.775%, while the 2-year U.S. Treasury yield, which is sensitive to the Fed’s policy rate, closed down 3.1 basis points at 4.348%.
As U.S. Treasury yields and the dollar retreated, spot gold extended yesterday’s rally, briefly surging above $4,500 during the session but failing to hold that level; it ultimately closed up 1.96% at $4,473.31 per ounce;Spot silver ultimately closed up 2.54% at $66.97 per ounce.
Oil prices hovered near a six-week high as new U.S. strikes against Iran and renewed threats from Israel toward Tehran heightened concerns over disruptions to Middle Eastern oil supplies.WTI crude briefly surpassed the $90 mark during the session but later gave up some of its gains, ultimately closing up 0.58% at $89.64 per barrel; Brent crude closed up 0.34% at $94.62 per barrel.
The three major U.S. stock indices rose more than 1%, with the Dow Jones Industrial Average closing up 1.18%, the S&P 500 up 1.06%, and the Nasdaq up 1.4%. Tesla (TSLA.O) rose 5.4%,NVIDIA (NVDA.O) rose 1.8%, SpaceX (SPCX.O) rose 6.4%, and Ctrip (TCOM.O) fell 5%. The Nasdaq China Golden Dragon Index fell 0.83%, with NetEase (NTES.O) dropping more than 1%.
Major European stock indices closed higher across the board, with Germany’s DAX 30 index up 0.63%, the UK’s FTSE 100 index up 0.7%, and the Euro Stoxx 50 index up 0.32%.