Source: Wall Street Journal.
Tesla closed up more than 3%, Google rebounded nearly 2%; Alcoa rose over 5%, United States Steel rose over 2%, Boeing rose over 3%; Mattel once fell over 5%; after the Earnings Reports, AppLovin rose nearly 12%, quantum computing stock D-Wave rose 51%, Arm fell over 6%. After the Bank of England meeting, the two-year UK bond yield rose over 10 basis points. The USD rose over 1% during the session. US oil rose over 3%. Futures gold once fell over 2%.
The USA and UK have reached an agreement on the tariff agreement, and Trump has come to 'place orders' again, boosting optimism in the US stock market. The USD has crossed the 100 mark, and Bitcoin has returned to $0.1 million. With the improvement in market sentiment, US Treasury bonds and Gold have turned to decline.
Supported by positive trade news, the three major US stock indices have all risen, with most Tech, Chip, and AI Concept stocks increasing:
In Pre-Market Trading, according to Xinhua News Agency, on the local time of the 8th, the UK and the USA have reached an agreement on the terms of the tariff trade agreement. However, many details of the agreement are yet to be finalized, and the previously imposed 10% so-called 'reciprocal tariff' has not been canceled. Following the news, the British Pound has remained stable against the USD at around 1.3330. The three major US stock indices have all risen, with the Nasdaq rising over 1.1% at one point in early trading.
In early trading, Trump stated that if a trade agreement could be achieved in conjunction with tax cuts, 'You better go out and buy stocks now.' After the speech, the three major US stock indices further increased, with the S&P 500 rising nearly 1.6% at midday, the Nasdaq gaining 2% at one point, and the Dow Jones also rising nearly 660 points, up about 1.6%.
At the end of US trading, it was reported that Trump would raise taxes on high earners, and the speech led to a significant drop in the overall stock market.
The Magnificent 7 experienced a rise then a fall. Google rose approximately 2% in early trading, Tesla rose over 3.8%, Microsoft rose nearly 1.8%, Meta rose about 2.5%, Amazon rose over 1.6%, NVIDIA rose over 1.3% before turning down, and Apple rose nearly 1% before also turning down. Most Chip stocks increased, with AMD rising over 4.8% at one point, and Intel rose about 4% before retreating. ARM fell over 7.7% at one point, as the company's earnings guidance was below expectations.
The three major U.S. stock indices:
The S&P 500 Index closed up 32.66 points, an increase of 0.58%, at 5663.94 points.
The Dow Jones Industrial Average closed up 254.48 points, an increase of 0.62%, at 41368.45 points.
The NASDAQ Index closed up 189.98 points, an increase of 1.07%, at 17928.14 points. The NASDAQ 100 Index closed up 195.59 points, an increase of 0.98%, at 20063.57 points.
The E-mini Russell 2000 Index closed up 1.85%, at 2026.41 points.
The VIX index closed down 4.67%, at 22.45.
U.S. stock Industry ETFs:
The Global Aviation Industry ETF closed up 3.31%, the Regional Bank ETF rose 2.41%, and the Banking Industry ETF rose 1.99%.
The Energy Industry ETF, Internet Stocks Index ETF, and Consumer Discretionary ETF increased by up to 1.32%. The Technology Industry ETF and Semiconductors ETF rose at least 0.88%, while the Medical Industry ETF fell by 0.9%.
The "Magnificent 7" is performing exceptionally well:
The Index of the seven major U.S. technology stocks (Magnificent 7) increased by 1.32%.
Tesla rose by 3.11%, Google A increased by 1.92%, Amazon rose by 1.79%, Microsoft increased by 1.11%, Apple was up by 0.63%, and NVIDIA and Meta Platforms closed up by 0.26% and 0.20% respectively.
Chip stocks:
The PHLX Semiconductor Index closed up by 1.00%, at 4430.44 points.
AMD rose by 1.34%, and Taiwan Semiconductor ADR increased by 0.39%.
USA Microcontroller, Memory, and Analog Semiconductor manufacturer Microchip Technology (MCHP) rose by 3.87% in Post-Market Trading. Microchip Technology's adjusted EPS for Q4 was $0.11, exceeding Analyst expectations.
AI concept stocks:
Tempus AI rose by 10.99%, while Super Micro Computer fell by 1.14%.
AppLovin increased by 11.88%, as the company’s first-quarter results surpassed expectations and agreed to sell its gaming division.
China Concept Stocks:
The Nasdaq Golden Dragon China Index rose by 0.97%, closing at 7099.81 points.
Popular China Concept Stocks such as Atour Lifestyle Holdings rose by 6.84%, MINISO increased by 4.87%, JinkoSolar grew by 3.73%, Li Auto rose by 3.58%, and H World Group, ZEEKR, and NIO at least increased by 3.13%.
Other stocks:
Quantum Computing concept stocks significantly rose, with D-Wave Quantum soaring by 51.23% at closing, marking the best single-day performance since May 2023; Quantum Computing increased by over 19%, and Rigetti Computing grew by over 11%.
Coinbase's first-quarter earnings report was disappointing, and the stock price fell over 3% in Post-Market Trading.
Pinterest's second-quarter revenue guidance exceeded market expectations, and the stock price rose by about 12% in Post-Market Trading.
After the Bank of England announced a rate cut and trade agreements between the UK and the USA came to light, the UK FTSE 100 Index (closely related to the export economy) fell by 0.32% to 8531.61 points, while the FTSE 250 Index (focused on the UK mainland economy) rose by 0.59%. The German stock index rose by 1%, the Italian bank index increased by over 2.8%, and the UK stock index declined by over 0.3%.
Pan-European European Stocks:
The Europe STOXX 600 Index rose by 0.40% to 535.63 points.
The Eurozone STOXX 50 Index increased by 1.12% to 5288.94 points.
National Indices:
The German DAX 30 Index rose by 1.02% to 23352.69 points.
The France CAC 40 Index closed up 0.89% at 7694.44 points.
After the Bank of England announced an interest rate cut and the UK-US trade agreement surfaced, the UK FTSE100 Index (closely related to the export economy) fell 0.32% to 8531.61 points, while the FTSE250 Index (focusing on the UK island economy) rose 0.59%.
Sectors and individual stocks:
In terms of sectors, the STOXX 600 Industrial Products and Services Index rose 2.01%, and the Technology Index rose 1.64%.
The constituent stocks of the UK FTSE100 Index showed mixed performance, with Airtel Africa down 8.4%, Centrica down 7.57%, AstraZeneca down 3.52%, and Severn Trent down 3.15%.
After the UK-US trade agreement surfaced, US President Trump spoke, improving investor risk appetite sentiment, leading to a rise of more than 10 basis points in short to medium-term US Treasury yields. The Greece 10-Year Treasury Notes Yield rose by more than 5 basis points, leading the trio of Italy, France, and Spain in the Eurozone. With the Bank of England's interest rate cut coinciding with the UK-US trade agreement, the two-year UK Treasury yield rose by more than 12 basis points to refresh its daily high.
US Treasury:
At the close in New York, the US 10-Year Benchmark Treasury Yield rose by 11.30 basis points to 4.3824%. Following the UK-US trade agreement and a speech by President Trump, the yield continued to rise, once reaching 4.3941% to refresh its daily high.
The two-year US Treasury yield rose by 10.57 basis points to 3.8822%.
European bonds:
In the European market's closing session, the German 10-Year Treasury Notes Yield increased by 6.1 basis points.
In the European market's closing session, the UK 10-Year Treasury Notes Yield rose by 8.67 basis points. The Greece 10-Year Treasury Notes Yield increased by 5.3 basis points, reaching a daily high of 3.353%.
Risk appetite improved, and the USD reached a critical level above 100. Non-USD currencies fell across the board, with the yen dropping by over 1.5%. Bitcoin has once again climbed above the $0.1 million mark after nearly three months.
USD:
At the New York market's close, the ICE USD Index rose by 1.11%, reaching a daily high of 100.726 points.
The Bloomberg USD Index increased by 0.67%, reaching a daily high of 1231.23 points.
Non-USD currencies:
At the New York close, the Euro against the USD fell by 0.66%, reported at 1.1288.
The British Pound against the USD fell by 0.34%, reported at 1.3246.
Yen:
At the New York close, the USD against the Japanese Yen rose by 1.6%, reaching a high of 146.18 since April 10.
Offshore Renminbi:
At the New York close, the offshore RMB against the USD was reported at 7.2439 yuan, a decrease of 156 points from Wednesday's New York close, trading overall in the range of 7.2167-7.2466 yuan during the day.
Cryptos:
In New York's late trading, spot Bitcoin soared by $6,000, reaching $102,833.
Commodities also rose due to optimistic sentiment, with WTI Crude Oil testing the $60 mark again. NYMEX crude oil futures closed up nearly 3.2%.
Crude Oil:
WTI June crude oil futures rose by $1.84, an increase of nearly 3.17%, settling at $59.91 per barrel.
Brent July crude oil futures increased by $1.72, a rise of more than 2.81%, settling at $62.84 per barrel.
Natural Gas:
NYMEX June natural gas futures fell by 0.80%, closing at $3.5920 per million British thermal units.
Spot Gold briefly rose to $3,414.78, setting a daily high, but with risk appetite prevailing, gold fell over 1.7%, while New York gold futures dropped 2.3%, briefly dipping below $3,300.
Gold:
In New York's late trading, spot Gold fell by 1.73%, reported at $3306.35 per ounce, and at 10:02 Beijing time, it briefly rose to $3414.78, refreshing its daily high.
COMEX Gold Futures fell by 2.31%, reported at $3313.50 per ounce, with an intra-day trading Range of $3422.00 to $3293.30.
Silver:
In New York's late trading, spot Silver remained flat, reported at $32.4558 per ounce, and at 12:03 it had risen to $32.9432, refreshing its daily high.
COMEX Silver Futures fell by 0.58%, reported at $32.6 per ounce.
Other Metals:
In New York's late trading, COMEX Copper Futures fell by 1.26%, reported at $4.6015 per pound.
LME Copper Futures closed up 12 dollars, at 9,432 dollars per ton. LME Aluminum Futures closed up 30 dollars, at 2,412 dollars per ton. LME Zinc Futures closed up 2 dollars, at 2,619 dollars per ton.
LME Tin Futures closed up 241 dollars, at 31,877 dollars per ton.
Editor/jayden
