Semiconductor stocks generally closed higher. Tesla rose for the second consecutive day, closing up 3.02%. Most European carmakers closed lower, with Volkswagen down more than 3.5%. The yield on 10-year U.S. Treasury notes increased by 2.4 basis points. The euro fell by over 1.2%, marking its largest single-day decline since May. Gold dropped by more than 1% during the session, and Copper once fell by more than 6%. Crude Oil Product closed up by more than 2%, with U.S. oil prices rising as much as 3% at one point. Trump shortened the deadline for a ceasefire agreement with Russia.
The market generally believes that the US-EU trade agreement is more favorable to the US, leading to a significant rise in the US dollar and the euro experiencing its largest single-day decline since May. Despite the S&P 500 Index and Nasdaq reaching new highs, the gains were extremely limited, as the market awaits a series of important data releases this week. Gold has fallen for four consecutive trading sessions, while COMEX copper futures suffered a heavy blow, as Chile is expected to be exempt from Trump's tariffs. Domestically,Futures tradingafter the implementation of risk control measures by the Exchange, night session Futures continued to cool down, with Block Orders in coking coal leading the decline.
In Pre-Market Trading, according to CCTV News, the US and EU have reached a tariff agreement at a rate of 15%. Buoyed by the positive trade news, the three major US indices opened slightly higher, with the Nasdaq up 0.4% and the S&P 500 Index up 0.2% at the beginning of the session. According to CCTV News, Trump stated that he would shorten the deadline for Russia and Ukraine to reach an agreement, causing oil prices to surge by over 2%, with US crude oil rising as much as 3%.
During Regular Trading Hours, according to Wall Street Journal, Chile is expected to be exempt from Trump's tariffs, leading to a sharp drop in COMEX copper futures, with the overall intraday decline reaching up to 6.2%. Copper mining stocks fell broadly, with McEwen falling 6.1% during the session, and Freeport-McMoRan (FCX) shares plunging, dropping more than 5% at one point.
During the domestic night session, Wall Street Journal reported that after the implementation of risk control measures by the Exchange, the 'anti-internal competition' frenzy continued to cool down, with coking coal Futures plummeting by over 10%, glass falling about 7.6%, coke declining about 3.8%, and low sulfur RBOB Gasoline rising by over 1.9%.
During Regular Trading Hours, the market interpreted the US-EU trade agreement as being more favorable to the US, resulting in most European car stocks closing lower, with Volkswagen falling by more than 3.5%. The US dollar surged, while the euro fell by over 1.22%, recording its largest single-day decline since May. Under the strong US dollar, gold fell for the fourth consecutive trading session, dropping by more than 1% during the session.
On Monday, despite the S&P 500 and Nasdaq reaching new highs, their gains were extremely limited, with the market not showing a broad-based rally. Instead, it was in a state of anticipation for the upcoming 'super week.' The Penghua Guozheng Semiconductor Chip ETF closed up more than 1.3%, leading the industry ETFs along with the Energy Sector ETF. Chip stocks generally closed higher. Tesla rose for the second consecutive day, closing up 3.02%.
U.S. benchmark indices:
The S&P 500 Index closed up 1.13 points, or 0.02%, at 6389.7, barely surpassing the previous closing high of 6388.64 set on July 25.
The Dow Jones Industrial Average closed down 64.36 points, or 0.14%, at 44837.56.
The Nasdaq closed up 70.27 points, or 0.33%, at 21178.58, continuing to set new closing highs. The NASDAQ 100 Index closed up 84.02 points, or 0.36%, at 23356.27, also setting a new closing high.
The E-mini Russell 2000 Index closed down 0.19% at 2256.73.
The VIX Index, a measure of market volatility, closed up 0.67% at 15.03.
U.S. industry ETFs:
The Semiconductor ETF rose 1.36%, the Energy Sector ETF gained 1.14%, and the Technology Sector ETF, Global Technology Index ETF, Consumer Discretionary ETF, Global Airline Industry ETF, and Internet Index ETF each increased by up to 0.8%.
Magnificent 7:
The Magnificent 7 Index of U.S. technology stocks rose 0.65%, closing at 183.49 points.
Tesla closed up 3.02%, NVIDIA gained 1.88%, Meta Platforms rose 0.69%, Amazon increased 0.58%, Apple edged up 0.08%, while Microsoft closed down 0.24%, and Google A fell 0.31%.
Semiconductor stocks:
The PHLX Semiconductor Index rose 1.62%, closing at 5737.10 points.
AMD closed up 4.32%, while Taiwan Semiconductor ADR fell 1.16%.
Chinese stocks:
The Nasdaq Golden Dragon China Index closed down 0.69% at 7,653.63 points.
Other stocks:
Berkshire Hathaway Class B shares, owned by Warren Buffett, closed down 0.49%, and Eli Lilly and Co. fell 0.56%.
European stocks closed down more than 0.2%. Heineken NV Sponsored ADR fell over 8.4%, while STMicroelectronics, ASML Holding, BE Semiconductor Industries, and ASM International rose by up to 4.9%. The German stock index closed down 1%, the Polish stock index fell 1.9%, and the Italian banking index rose 0.7%.
Pan-European stocks:
The European STOXX 600 Index closed down 0.22% at 548.76 points.
The Euro Stoxx 50 Index closed down 0.27%, at 5337.58 points.
National indices:
The German DAX 30 Index closed down 1.02%, at 23970.36 points.
The French CAC 40 Index closed down 0.43%, at 7800.88 points.
The UK FTSE 100 Index closed down 0.43%, at 9081.44 points.
Sectors and Individual Stocks:
Among the blue-chip stocks in the Eurozone, Anheuser-Busch Inbev, Volkswagen AG, Pernod Ricard, Rheinmetall AG, BMW, and Mercedes-Benz Group were the worst performers, closing down 3.62% to 3.21%.
Among all the constituents of the STOXX Europe 600 Index, Heineken NV closed down 8.45%, Ocado Group fell 7.63%, and Universal Music Group declined 6.68%, ranking as the fourth largest decline.
Editor: Jayden
