The S&P 500 has recorded its longest consecutive rise in three years; Tesla rose over 2%, while General Motors, which revoked its guidance, initially fell 4% but later reduced most of its losses; Meta has risen for six consecutive days; Super Micro Computer saw a sharp drop of 20% after hours, and Snap declined over 10% in after-hours trading. US Treasury yields have hit a three-week low. The USD has rebounded. The offshore Chinese renminbi once rose over 300 points, breaking above 7.26. Crude Oil Product fell 3% during the day.
The trade agreement hopes to boost the USA stock market, with the S&P 500 Index marking six consecutive days of gains. Weak labor data and low consumer confidence, along with expectations of interest rate cuts by the Federal Reserve, have strengthened US Treasury prices. Risk-averse sentiment has eased, and Gold remains weak. In Post-Market Trading, Super Micro Computer and Snap fell sharply after releasing their earnings reports.
In the USA stock market, the Large Cap index surged then fell back on Tuesday, with tariff news remaining the main theme in the market:
In Pre-Market Trading, Bessenet stated that India is likely to be one of the first countries to sign a trade agreement with the USA, but did not disclose more details. Additionally, the USA reported job vacancies hitting a six-month low, and consumer confidence reaching a nearly five-year low, casting a shadow over the US economic outlook, which caused fluctuations in the USA stock market at the opening on Tuesday, while US Treasury yields accelerated their decline.
After the lunch break in the USA stock market, US Secretary of Commerce Raimondo discussed the progress of tariff negotiations, claiming they have come to an agreement pending approval. Furthermore, Trump signed an executive order related to tariffs on Auto Manufacturers, leading to optimistic investor sentiment and increased gains in the USA stock market, with all three major US stock indexes reaching new daily highs.
In the USA stock market's closing period, the Office of the US Trade Representative (USTR) stated that the relationship with Europe in tariff negotiations has not been good. The gain of the S&P 500 Index narrowed to nearly 0.6%, the Dow Jones Industrial Average rose by less than 350 points, narrowing the gain to less than 0.9%, and the Nasdaq rose by 0.6%.
In Post-Market Trading, Super Micro Computer and Snap fell sharply after reporting their earnings. Super Micro Computer announced on Tuesday that it has lowered its revenue and profit expectations for the third quarter due to delayed customer spending, with its stock price dropping over 16% in after-hours trading. Snap reported revenue exceeding expectations on Tuesday, but due to macroeconomic uncertainties, it declined to provide guidance, leading to a 13% drop in Snap's stock price.
After the release of weak employment data in the USA, Treasury yields fell sharply in the short term. The yield on the US 10-Year Treasury Notes dropped to 4.1736%, hitting a daily low, while the 2-Year US Treasury yield fell below 3.65%, also reaching a daily low, with an overall daily drop of over 4 basis points. The USD rebounded, and the offshore Chinese Yuan temporarily rose over 300 points, breaking through 7.26.
On Tuesday, the three major indexes in the USA closed higher, with the Dow Jones Industrial Average setting the record for the longest consecutive gains since July, and the S&P 500 Index also achieving the longest consecutive gains since November. Financial stocks led across sectors, with only the Energy sector experiencing a decline. Tesla rose over 2%, and Meta had its sixth consecutive rise. Super Micro Computer and Snap released their earnings, dropping over 10% in post-market trading.
The three major U.S. stock indices:
The S&P 500 Index closed up 32.08 points, an increase of 0.58%, marking the sixth consecutive trading day of gains (up 7.83% since the close on April 21), closing at 5560.83 points.
The Dow Jones Industrial Average closed up 300.03 points, an increase of 0.75%, closing at 40527.62 points.
The Nasdaq closed up 95.18 points, an increase of 0.55%, closing at 17461.32 points. The NASDAQ 100 Index closed up 117.66 points, an increase of 0.61%, closing at 19544.95 points.
The E-mini Russell 2000 Index closed up 0.56%, closing at 1976.52 points.
The VIX fear index closed down 3.86%, closing at 24.18.
U.S. stock Industry ETFs:
The Industry ETF rose by 1.04%, the Internet Stock Index ETF increased by 0.95%, and the WP CSI Banks ETF and Regional Bank ETF both rose by at least 0.9%.
The Penghua Guozheng Semiconductor Chip ETF fell by 0.17%, and the Energy Industry ETF declined by 0.29%.
"Magnificent 7":
The USA Technology Stocks Seven Giants (Magnificent 7) Index rose by 0.45%, closing at 144.89 points.
Tesla rose by 2.15%, Meta Platforms increased by 0.85%, Microsoft gained 0.74%, Apple rose by 0.51%, NVIDIA went up by 0.27%, while Amazon fell by 0.17%, and Google A declined by 0.28%.
Chip stocks:
The PHLX Semiconductor Index fell by 0.92%, closing at 4196.75 points.
Taiwan Semiconductor ADR rose by 0.66%, while AMD fell by 0.34%.
AI concept stocks:
Super Micro Computer estimates that third-quarter performance will be poor, with stock prices plummeting 20% in post-market trading.
Applovin rose 1.37%, while Tempus AI increased by 0.97%.
China Concept Stocks:
The NASDAQ Golden Dragon China Index fell by 0.30%, closing at 6980.70 points.
Among the popular China Concept Stocks, Daqo New Energy fell by 13.77%, Xpeng dropped by 6.32%, JinkoSolar decreased by 3.85%, Autohome fell by 2.33%, ZTO Express declined by 1.98%, and KE Holdings and ZAI LAB both fell more than 1.8%.
Other key stocks include:
Snap rose 5.94% in post-market trading, then turned and plummeted by 6.38%. The Tuesday earnings report exceeded expectations, but guidance was not provided due to macroeconomic uncertainty.
The "Trump Tariff Losers" Index rises by 0.85%, reporting at 84.49 points. Component stock Zebra Technologies increased by 5.16%, Five Below rose by 3.12%, and Gap increased by 1.35%.
European stock markets have risen about 3.7% over six days, with the German index increasing by about 0.7%. The Italian banking index rose over 1.3%, while the French index fell over 0.2%. Eurozone blue chips, SAP and L'Oréal, rose over 2.3%, while Schneider Electric fell by about 6.4%.
Pan-European European Stocks:
The European STOXX 600 Index closed up 0.36%, according to Bloomberg data, marking an increase for the sixth consecutive trading day (totaling a rise of 3.69%), reporting at 525.09 points.
The Eurozone STOXX 50 Index closed down 0.17%, ending a previous trend of five consecutive days of gains, reporting at 5161.90 points.
Stock indices in various countries rose:
The German DAX 30 Index closed up 0.69%, reporting at 22425.83 points.
The French CAC 40 Index closed down 0.24%, reporting at 7555.87 points.
The UK FTSE100 Index rose by 0.55%, closing at 8463.46 points.
Sectors and individual stocks:
Among the blue chips in the Eurozone, SAP from Germany rose by 2.33%, L'Oreal increased by 2.32%, ING Groep rose by 1.69%, and UniCredit from Italy increased by 1.37%.
In terms of sectors, the STOXX 600 Medical Care Index increased by 1.17%, the Banks Index rose by 1.12%, the Utilities Index increased by 1.09%, and the Technology Index rose by 0.72%.
The bond yields of the four Eurozone countries, France, Italy, Spain, and Greece, fell by at least 2 basis points.
US Treasury:
At the end of trading in New York, the yield on the 10-year U.S. Treasury notes fell by 3.66 basis points to 4.1716%, trading within a range of 4.2428%-4.1620% during the day.
The yield on the 2-year U.S. Treasury notes fell by 4.29 basis points to 3.6499%, trading within a range of 3.7132%-3.6458% during the day.
European bonds:
At the end of the European market, the yield of German 10-Year Treasury Notes fell by 2.4 basis points, at 2.497%. The yield of 2-Year German Bonds fell by 0.7 basis points, at 1.736%.
At the end of the European market, the yield of UK 10-Year Treasury Notes fell by 2.9 basis points, at 4.480%, dropping below 4.46% at 22:00 Beijing time, hitting a new daily low.
At the end of the European market, the sovereign bond yields of France, Italy, Spain, and Greece in the Eurozone fell by at least 2 basis points, among which the yield of Italy 10-Year Treasury Notes fell by 2.4 basis points, at 3.605%.
International oil prices closed down over 2%.
Crude Oil:
WTI June crude oil futures closed down by $1.63, a drop of over 2.62%, at $60.42 per barrel.
Brent June crude oil futures closed down by $1.61, a drop of 2.44%, at $64.25 per barrel.
Natural Gas:
NYMEX June Henry Hub Natural Gas Futures rose over 1.28%, settling at $3.3860 per million British thermal units.
NYMEX June Henry Hub Natural Gas Futures rose over 1.28%, settling at $3.3860 per million British thermal units.
Editor/jayden
