investingLive Americas FX news wrap 3 Aug: Risk-On Returns to Wall Street

Technology stocks once again led the advance as investors rotated back into the AI leaders. Meta surged 6.02%, Microsoft climbed 4.93%, Alphabet rose 4.88%, Amazon gained 4.58%, Tesla advanced 3.49%, and Nvidia added 2.93%. Apple was the lone Mag 7 laggard, falling 1.78% as investors continued to digest last week's earnings report and outlook. The bond market added another tailwind for equities as Treasury yields moved lower across the curve, easing valuation pressures on growth stocks. The 2-year yield fell 5.1 basis points to 4.239%, the 5-year declined 7.2 basis points to 4.387%, the 10-year dropped 6.7 basis points to 4.667%, and the 30-year eased 4.7 basis points to 5.227%. The decline in yields gave investors added confidence to rotate back into higher-growth sectors, particularly technology. Energy markets also supported the bullish tone. WTI crude oil tumbled 5.56% to $79.96 as concerns over an immediate disruption to Middle East oil supplies eased. The sharp decline in crude helped temper inflation concerns and reinforced the move lower in Treasury yields. In the foreign exchange market, the U.S. dollar finished mostly higher. The greenback gained 0.61% against the Australian dollar, 0.54% versus the New Zealand dollar, 0.35% against the British pound, 0.30% versus the Swiss franc, 0.26% against the euro, and 0.10% against the Canadian dollar. The lone exception was the Japanese yen, where the dollar fell 0.28%, making the yen the strongest-performing major currency on the day. Overall, investors looked past lingering geopolitical uncertainty and instead focused on a combination of better-than-expected ISM manufacturing data, improving manufacturing employment, easing Treasury yields, sharply lower oil prices, and renewed leadership from AI and large-cap technology. With the manufacturing sector showing its strongest hiring conditions in nearly three years and earnings season continuing, the market's attention now shifts toward upcoming corporate results and Friday's U.S. employment report for the next major macro catalyst. Stop it This article was written by Greg Michalowski at investinglive.com.

• Meta surged 6.02%, Microsoft climbed 4.93%, Alphabet rose 4.88%, Amazon gained 4.58%, Tesla advanced 3.49%, and Nvidia added 2.93%.
• Apple was the lone Mag 7 laggard, falling 1.78% as investors continued to digest last week's earnings report and outlook.
• The 2-year yield fell 5.1 basis points to 4.239%, the 5-year declined 7.2 basis points to 4.387%, the 10-year dropped 6.7 basis points to 4.667%, and the 30-year eased 4.7 basis points to 5.227%.
• WTI crude oil tumbled 5.56% to $79.96 as concerns over an immediate disruption to Middle East oil supplies eased.
• The greenback gained 0.61% against the Australian dollar, 0.54% versus the New Zealand dollar, 0.35% against the British pound, 0.30% versus the Swiss franc, 0.26% against the euro, and 0.10% against the Canadian dollar.