这一消息加上服务业PMI数据，推动美股全线上涨，美债收益率攀升，美元走强。另外，特朗普宣布美国将对从委内瑞拉购买石油和天然气的国家征收25%的关税，此消息公布后油价走高。Source: Wall Street Journal.
The three major U.S. stock indices have risen for two consecutive days; Tesla has achieved its largest increase since the day after the election; chip stocks have outperformed the Large Cap, with AMD up 7% and NVIDIA up over 3%; NIO has dropped over 2%, while PDD Holdings has risen over 1%. The two-year U.S. Treasury yield has risen since last week's Federal Reserve meeting. After the U.S. PMI, the USD reached a near three-week high. Bitcoin once surged by nearly $4,000. Crude Oil Product closed up over 1% to a new high for this month. Gold has fallen away from its record high over the past two days.
Expectations for "reciprocal tariffs" have softened, boosting market sentiment. Over the weekend, media reported that the "reciprocal tariffs" that Trump is set to implement starting April 2 may be more "targeted" than previously expected, according to China News Service. This news has lifted market confidence. On Monday, Trump stated that he would announce tariffs on cars, timber, and chips in the coming days, but he also mentioned that there might be tariff exemptions for multiple countries.
This news, along with service sector PMI data, drove a broad rally in US stocks, rising yields on US bonds, and a strengthening dollar. Additionally, Trump announced that the USA would impose a 25% tariff on countries buying oil and natural gas from Venezuela, which led to rising oil prices after this announcement.
Trump may ease tariff plans, leading to a general rebound in US stocks, with Tesla rising 12% to lead the consumer sector. Defensive sectors performed poorly, but most still closed higher, with the utilities sector nearly flat:
The three major US stock indices saw an overall increase.
The S&P 500 Index closed up 1.76%. The Dow Jones Industrial Average closed up 1.42%. The Nasdaq closed up 2.27%. The Nasdaq 100 closed up 2.16%.
The Nasdaq Technology Market Capitalization Weighted Index (NDXTMC), which measures the performance of technology components in the Nasdaq 100, closed up 2.18%.
Russell 2000 Small Cap index closed up 2.55%. The Fear Index VIX fell 9.34%, closing at 17.48.
The industry ETFs in the US stock market all rose.
The Consumer Discretionary ETF rose 3.75%, the Global Aviation ETF increased by 3.37%, the Regional Banks ETF was up 2.72%, while the Utilities ETF dropped 0.03%.
The Consumer sector in the S&P 500 Index rose 4.07%. Bloomberg data shows that Tesla led all the components in this sector, while Starbucks fell 1.39%, underperforming.
"The Seven Sisters of Technology" all increased:
The Magnificent 7 index increased by 2.58%; the "Trump Tariff Losers" index rose 3.76%.
Tesla rose over 11.9%, marking its best single-day performance since November 6 last year (the day after the USA election voting day). On March 24, the FBI established a task force in response to threats against Tesla.
Meta rose 3.72%, Amazon increased by 3.59%, NVIDIA was up 3.15%, Google A rose 2.19%, Apple increased by 1.13%, while Microsoft was the worst performer with a rise of 0.47%.
Chip stocks all rose.
The PHLX Semiconductor Index closed up 2.99%. The NVIDIA double long ETF rose 6.03%. American Superconductor increased by 8.82%, while Broadcom fell by 0.21%.
AMD closed up nearly 7%, marking its best single-day performance since February 2024.
AI Concept Stocks rise broadly.
BigBear.ai rose 19.19%, Applovin increased by 8.18%, BullFrog AI grew 7.39%, while Super Micro Computer fell by 1.02%.
China Concept Stocks saw mixed results.
The Nasdaq Golden Dragon China Index closed down 0.02%. The FTSE A50 index futures fell by 0.37% for consecutive night trades.
Among the ETFs, the FTSE China 3x Long ETF (YINN) rose 0.83%, and the China Technology Index ETF (CQQQ) increased by 0.13%.
Among popular China Concept Stocks, Xiaoma Zhixing rose 3.5%, NetEase increased by 2.9%, Baidu and PDD Holdings rose over 1%, while Xiaomi Group ADR fell 1.6% and Xiaopeng declined about 1.8%.
Other key stocks include.
KB Home, a residential construction company in the USA, saw its stock drop 11.8% after hours as the company lowered its earnings guidance.
Faraday Future (FFAI) saw a rise of 11.59% after hours, as the company secured a $41 million new financing commitment.
Trump Media & Technology Group (DJT) rose 3.62% after hours. The company stated its intent to partner with Crypto.com to launch a series of ETF products.
Major indices in Europe fell across the board, while the tourism and defense sectors rose 0.55% against the trend, following the reopening of London Heathrow Airport on Saturday, ending a service disruption caused by a power outage from a nearby substation fire on Friday.
European stocks:
The pan-European STOXX 600 index closed down 0.13%. The Eurozone STOXX 50 index closed down 0.15%.
The Italy Index closed down 0.17%. The France Index fell 0.26%, the Italy Index decreased by 0.16%, and the United Kingdom Index fell by 0.10%. The Spain Index dropped by 0.2%.
Most of the European automotive manufacturing concept stocks rose, with Renault up 4.39%, Forvia and Stellantis increasing by at least 2%. U.S. President Trump declared that he would soon announce tariff news related to automobiles and trade.
Investor concerns about Trump's tariff plan on April 2 cooled down, and U.S. Treasury prices retreated from gains:
US Treasury:
The U.S. 10-Year Treasury Notes Yield rose by 8.84 basis points, reporting at 4.3346%.
The 2-Year U.S. Treasury Yield increased by 8.65 basis points, reporting at 4.0346%.
European bonds:
At the end of the European market, the German 10-Year Treasury Notes Yield rose by 0.6 basis points, reporting at 2.771%. The 2-Year German Treasury Yield decreased by 1.1 basis points, reporting at 2.121%.
The UK 10-Year Treasury Notes Yield rose by 0.2 basis points. The 2-Year UK bond yield fell by 0.4 basis points.
The France 10-Year Treasury Notes Yield fell by 0.2 basis points. The Italy 10-Year Treasury Notes Yield fell by 0.5 basis points.
The USD strengthened, benefiting the Australian Dollar and Canadian Dollar from the rise in risk assets:
USD:
At the end of trading in New York, the ICE USD Index rose by 0.25%, reporting 104.351 points.
The Bloomberg Dollar Index briefly plunged while US President Trump was discussing tariff issues, stabilizing at around 1271 points at 02:46.
Non-USD currencies:
At the end of trading in New York, the Euro fell by 0.14% against the USD, reporting 1.0802. The British Pound rose by 0.03% against the USD. The USD rose by 0.01% against the Swiss Franc.
In the commodity currency pairs, the Australian Dollar rose by 0.22% against the US Dollar, the New Zealand Dollar fell by 0.09% against the US Dollar, and the US Dollar fell by 0.22% against the Canadian Dollar.
Yen:
At the New York closing, the US Dollar rose by 0.92% against the Japanese Yen, quoted at 150.69 yen.
Offshore Renminbi:
The offshore Renminbi (CNH) fell by 68 points against the US Dollar compared to Tuesday's New York closing, quoted at 7.2639 yuan, with overall trading during the day between the range of 7.2476 and 7.2678 yuan.
Cryptos:
At the New York closing, the largest market cap leader Bitcoin rose by 5.23%, quoted at 88,345.00 USD.
The second largest Ethereum rose by 5.95% at the close, quoted at 2,092.00 USD.
Bearish and Bullish news are intertwined, but supported by Trump's announcement of a second tariff on Venezuela, Crude Oil Product prices are still rising due to risk sentiment, with US oil up 1.2%:
US oil: WTI May Crude Oil Futures closed up $0.83, an increase of over 1.21%, at $69.11 per barrel.
Brent oil: Brent May Crude Oil Futures closed up $0.84, an increase of over 1.16%, at $73.00 per barrel.
Reports state that Egypt has proposed a plan to try to restart the ceasefire agreement between Israel and Hamas; Indian refineries will reduce their bids to purchase Crude Oil Product in the spot market in the coming months due to an increase in Russian supply. Reuters also reported that, according to sources, OPEC+ will continue to promote the monthly oil production increase plan for May.
Nevertheless, oil prices continue to be pushed higher, primarily supported by Trump's announcement of a second tariff on Venezuela, where any country buying oil and gas from Venezuela will be forced to pay a 25% tariff on any trade with the USA.
Natural Gas:
US April Henry Hub Natural Gas Futures closed down nearly 1.66%, at $3.9140 per million British thermal units.
TTF benchmark Dutch Natural Gas Futures rose 0.19%, at €42.700 per megawatt hour.
ICE UK Natural Gas Futures fell by 0.23%, reported at 103.550 pence per therm.
Spot Gold fell by 0.3%, approaching the psychological threshold of 3000 dollars.
Gold:
COMEX Gold Futures fell by 0.13%, reported at 3017.40 dollars per ounce. Spot Gold ended down by 0.30%, reported at 3013.17 dollars per ounce.
Silver:
COMEX Silver Futures rose by 0.18%, reported at 33.545 dollars per ounce. Spot Silver ended roughly flat, reported at 33.0275 dollars per ounce.
London Industrial Metals experienced mixed trading:
LME Copper closed up by 100 dollars. COMEX Copper Futures fell by 0.49%, reported at 5.0885 dollars per pound.
LME Aluminum Futures fell by 7 dollars. LME Zinc Futures rose by 18 dollars.
LME Lead Futures rose by 20 dollars. LME Nickel Futures fell by 44 dollars.
LME Tin Futures fell by 135 dollars. LME Cobalt Futures remained flat.
Editor/jayden
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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