The Dow Jones has fallen for two consecutive days; Tesla and AMD both rose over 4%, while Super Micro Computer surged nearly 16%; after the earnings report, Cisco saw a brief rise of nearly 4% in after-hours trading; the China Concept Index rebounded over 1%, but JD.com fell more than 4%. U.S. Treasury yields reached a one-month high. During the day, the Japanese Yen rose over 1% and the Korean Won nearly 2%, later narrowing at least half of the drop. Crude Oil and Gold dropped over 1% and 2%, respectively.
The market awaits Powell's speech on the economy, as the strong upward momentum for risk assets weakens. Major indices fluctuated throughout the day, with technology stocks leading the sector, while small-cap stocks performed poorly. The U.S. budget warning replaced tariff anxiety, and future uncertainties drove U.S. Treasury yields to rise quickly, causing the USD to fall for two consecutive days, with commodities like crude oil and gold also declining sharply.
U.S. stock markets showed mixed results, with technology and AI stocks leading the two major U.S. indices, while the Dow Jones fluctuated and closed lower.
In pre-market trading, as macro risks diminished, investors will once again focus on technology stocks. TENCENT is set to release its earnings report on Wednesday, with Q1 revenue increasing 13% year-on-year, and Honor of Kings setting a new high in revenue, with AI making a substantial contribution. TENCENT's ADR rose about 4% in pre-market trading.According to Xinhua Finance report.The USA and South Korea have discussed forex policy, leading to a drop in the USD, which fell to a one-week low against the Korean Won.
In early U.S. trading, the three major indices showed mixed results; the Dow Jones rose nearly 0.3% at the start, the S&P 500 index initially rose over 0.3% before briefly turning negative, and the NASDAQ initially rose over 0.7% but has since retreated. The yield on the 10-Year U.S. Treasury notes climbed to 4.529%, marking its first close above 4.5% since February.it was reported that, the USA will not seek a devaluation of the dollar in trade agreements, and the dollar has risen overall today.
On Wednesday, U.S. stocks showed mixed results. The Mag7 stocks rose further, dominating the S&P 500 Index. NVIDIA surged over 4.1%, recovering losses earlier in 2025, while Tesla also rose more than 4%. NVIDIA's market cap has surpassed Apple’s again, and META's market cap has exceeded 2 trillion USD. Boosted by TENCENT's performance, major shareholder Prosus's stock price rose by 3.8%, hitting a four-year high.
The three major U.S. stock indices:
The S&P 500 Index closed up 6.03 points, an increase of 0.10%, at 5892.58 points.
The Dow Jones Industrial Average closed down 89.37 points, a decrease of 0.21%, at 42051.06 points.
The Nasdaq closed up 136.72 points, an increase of 0.72%, at 19146.81 points. The NASDAQ 100 Index closed up 121.51 points, an increase of 0.57%, at 21319.21 points.
The E-mini Russell 2000 Index closed down 0.88%, at 2083.80 points.
The VIX, or volatility index, closed up 2.25%, at 18.63.
U.S. stock Industry ETFs:
The Medical Industry ETF fell 2.35%, the Biotechnology Index ETF dropped 2.18%, and the Global Aviation Industry ETF declined 2.12%.
The Consumer Discretionary ETF rose 0.39%, the Internet Stocks Index ETF and Global Technology Stocks Index ETF increased by 0.63%, the Technology Industry ETF grew by 0.65%, and the Semiconductors ETF went up by 0.99%.
"Magnificent 7":
The index of the seven giants of American technology stocks (HK&S HOTELS 7) rose by 1.55%, reporting 162.69 points.
NVIDIA closed up 4.16%, Tesla rose 4.07%, Google A increased by 3.66%, Microsoft and Meta were up to 0.85%, while Apple closed down 0.28%, and Amazon fell 0.53%.
Chip stocks:
The PHLX Semiconductor Index closed up 0.60%, reporting 4960.74 points.
AMD closed up 4.68%, Taiwan Semiconductor ADR rose 0.4%.
AI concept stocks:
Tempus AI fell 5.99%, Palantir rose 1.62%, Applovin closed up 1.74%.
China Concept Stocks:
The Nasdaq Golden Dragon China Index closed up 1.17%, at 7530.44 points.
Popular China Concept Stocks Tencent ADR rose about 4%, Ideal and New Oriental increased by a maximum of 2.7%, Xiaomi, YUM CHINA, Alibaba, and Baidu rose at least 1.4%.
Other stocks:
Berkshire Hathaway B shares, led by Buffett, closed down 1.66%. Eli Lilly fell 4.09%.
Driven by Tencent's performance, the price of Tencent's major shareholder Prosus rose by 2.75%.
The 'Trump Tariff Losers' Index fell by 0.98%, closing at 97.11 points. Component stock American Eagle dropped by 6.45%, Fluence Energy fell by 5.71%, and 3M decreased by 1.9%.
European stock markets closed down over 0.2%, with Alstom, TUI, and Bayer dropping over 10%, while Burberry rose by 17%, and Prosus increased by more than 2.7%. The German stock index closed down nearly 0.5%, losing the historical closing high, while the Italian bank index rose by 1.4%.
Pan-European European Stocks:
The European STOXX 600 Index closed down 0.24%, at 543.88 points.
The Eurozone STOXX 50 Index closed down 0.24%, at 5403.44 points.
National Indices:
The German DAX 30 Index closed down 0.47%, at 23527.01 points, distancing itself from the historical closing high.
The France CAC 40 Index closed down 0.47% at 7836.79 points.
The UK FTSE100 Index closed down 0.21% at 8585.01 points.
Sectors and individual stocks:
Among the Eurozone Blue Chip stocks, Prosus rose by 2.75% (with South African shares up by 2.50%), followed closely by Unicredit, Banco Santander, Intesa Sanpaolo, ING Groep, and Banco Sabadell, which increased by 1.92% to 1.32%.
In the European STOXX 600 Index, Burberry rose 17.03%, FLSmidth & Co. increased by 11.58%, Millennium BCP from Portugal rose 5.68% ranking third, and shares of Maersk Class B gained 4.78% showing strong performance.
U.S. Treasury prices fell as traders continued to lower expectations for the Federal Reserve's interest rate cut, with the 10-Year U.S. Treasury Notes Yield rising to 4.529%, marking its first close above 4.5% since February. Mid to long-term German bond yields increased by about 2 basis points, and UK bond yields generally rose over 4 basis points.
US Treasury:
In New York's late trading, the U.S. 10-Year Treasury Notes Yield rose by 7.13 basis points, reaching a daily high of 4.5363%.
The two-year U.S. Treasury yield rose about 6.0 basis points, reaching a daily high of 4.0592%.
European bonds:
At the end of the European market, the German 10-year Treasury yield rose by 1.9 basis points to 2.699%. The two-year German Treasury yield increased by 0.4 basis points to 1.940%.
The UK 10-year Treasury yield rose by 4.4 basis points to 4.714%, breaking out of a consolidation state and rising after 20:30 Beijing time.
Reports indicate that the U.S. is not seeking a depreciation of the dollar in tariff negotiations, and the dollar rebounded from its lows during the day.
USD:
In late New York trading, the ICE dollar index rose by 0.05% to 101.052 points, showing a V-shaped reversal during the day. It had previously dropped to a daily low of 100.271 points at 17:49 Beijing time.
The Bloomberg dollar index increased by 0.05% to 1231.96 points, having previously dropped to a daily low of 1224.24 points at 17:50.
Non-USD currencies:
After reaching a high, the euro fell by 0.09% against the USD, while the British Pound dropped by 0.30% against the USD after a peak, and the USD appreciated by 0.20% against the Swiss Franc in a V-shaped reversal.
Among commodity currencies, the Australian Dollar fell by 0.60% against the USD, the New Zealand Dollar decreased by 0.57% against the USD, and the USD rose by 0.27% against the Canadian Dollar.
Yen:
In the New York closing, the USD fell by 0.55% against the Japanese Yen, reported at 146.67 yen.
The euro fell by 0.60% against the Japanese Yen, and the British Pound dropped by 0.85% against the Japanese Yen.
Offshore Renminbi:
In the New York closing, the offshore Chinese Renminbi (CNH) against the USD reported at 7.2112 yuan at 04:59 Beijing time, down 121 points compared to Tuesday's New York closing, with overall trading within the range of 7.1913-7.2159 yuan.
Cryptos:
In the New York late trading, spot Bitcoin fluctuated and closed down by 1%, reported at $103,504.
Last week, U.S. EIA crude oil inventories increased by 3.45 million barrels, while Bloomberg users expected a decrease of 1.65 million barrels, and Analyst expectations were a reduction of 1.9635 million barrels, down 2.032 million barrels in the previous week. After the U.S. EIA crude oil inventory weekly report was released, crude oil once again fell below $62.60 per barrel.
Crude Oil:
WTI June crude oil Futures closed down $0.52, a decrease of over 0.81%, reported at $63.15 per barrel.
Brent July crude oil Futures closed down $0.54, a decrease of 0.81%, reported at $66.09 per barrel.
Natural Gas:
NYMEX June natural gas Futures closed down 4.25%, reported at $3.4920 per million British thermal units.
Spot Gold fell more than 2.1%, during the U.S. stock market's late trading it briefly dropped below $3,170, while Silver also fell more than 2%.
Gold:
In late trading in New York, Spot Gold fell 2.14% to $3,180.90 per ounce.
COMEX Gold Futures fell 1.91% to $3,185.70 per ounce.
Silver:
In late trading in New York, Spot Silver fell 2.13% to $32.2265 per ounce, with a significant plunge occurring at 20:00.
COMEX Silver Futures fell 2.23% to $32.370 per ounce.
Other Metals:
In New York's late trading, COMEX Copper Futures fell by 1.72%, to $4.6420 per pound.
LME copper futures rose by $7, closing at $9,606 per ton.
LME nickel futures increased by $136, closing at $15,871 per ton. LME zinc futures rose by $60, closing at $2,765 per ton.
Editor/lambor
