On Thursday, U.S. inflation data largely met expectations, easing concerns about an imminent interest rate hike by the Federal Reserve. The U.S. Dollar Index halted its three-day winning streak and ultimately closed down 0.1% at 101.45;The benchmark 10-year U.S. Treasury yield closed at 4.398%, while the 2-year U.S. Treasury yield, which is sensitive to the Fed’s policy rate, closed at 4.135%.
Spot gold surged following the release of the PCE data, erasing all of its intraday losses and returning above the $4,000 mark, ultimately closing up 0.64% at $4,026.78 per ounce;Spot silver traded in a choppy uptrend and ultimately closed up 0.64% at $57.83 per ounce.
International crude oil prices rebounded following renewed attacks on ships in the Strait of Hormuz.WTI crude briefly surpassed the $73 mark before pulling back slightly, ultimately closing up 2.19% at $72.01 per barrel; Brent crude closed up 2.39% at $75.18 per barrel.
The three major U.S. stock indices posted mixed results,with the Dow Jones Industrial Average closing up 0.14%, the S&P 500 edging lower, and the Nasdaq falling 0.46%. Micron Technology (MU.O) rose 15.7%, Qualcomm (QCOM.O) gained 3.7%, and Microsoft (MSFT.O) fell more than 3%.Apple (AAPL.O) fell 6.1%, with its market capitalization nearing the $4 trillion mark. The Nasdaq Golden Dragon China Index fell 2.7%, and Alibaba (BABA.N) fell 4.7%.