Financial Daily: US stocks hit another all-time high! US bond yields rise as the market awaits the Federal Reserve's interest rate decision

- Key Focus

– Chinese regulators announced the rejection of Meta's acquisition of Manus

– International rating agency Moody's has upgraded China's outlook from negative to stable, affirming its A1 rating.

– Six Iranian oil tankers turned back due to a U.S. military blockade, and the U.S. Treasury Secretary stated that companies doing business with Iran Air will face American sanctions.

Content compiled by 'Harbor Family Office,' a subsidiary of Henry Jia Group. It does not constitute any investment or trading advice. Stay tuned.

- Stock Market

[U.S. Market] The three major U.S. stock indexes ended mixed, with the Philadelphia Semiconductor Index ending its 18-day winning streak.

The market is currently awaiting the outcome of the Federal Reserve’s interest rate decision on Thursday, along with earnings reports from several large technology companies. On Monday, U.S. stocks performed relatively steadily, with narrow fluctuations in the three major indexes. The S&P 500 Index and Nasdaq Composite Index closed slightly higher, hitting new all-time highs, while market panic sentiment eased.

At the close, the S&P 500 Index rose 0.12% to 7,173.93 points; the Nasdaq Composite Index gained 0.20% to 24,887.10 points; the Dow Jones Industrial Average fell 0.13% to 49,167.79 points. The VIX panic index dropped 3.63% to 18.03 points. The Philadelphia Semiconductor Index declined 1.01% to 10,408.038 points, ending an 18-day rally.

The index of the seven giants of U.S. technology stocks rose by 0.97%, with NVIDIA closing up 4%, Google A gaining 1.72%, Tesla and Meta both rising more than 0.5%. Amazon closed down 1.11%, and Apple fell 1.27%. The Nasdaq Golden Dragon China Index dropped 1.20% to 6,868.78 points. Among popular Chinese stocks, Atour fell 5.4%, 21Vianet dropped 4.2%, Bilibili and Alibaba both fell over 2%. In individual stocks, Circle fell 4.21%, and Domino's Pizza plunged 8.8% due to poor performance.

[European Market] European major indices generally declined on Monday.

Major European indexes generally fell on Monday. At the close, the pan-European STOXX 600 Index dropped 0.30% to 608.84 points. The pan-European STOXX 50 Index declined 0.39% to 5,860.32 points.

Germany's DAX 30 Index fell 0.19% to 24,083.53 points; France's CAC 40 Index dropped 0.19% to 8,141.92 points; the UK FTSE 100 Index lost 0.56% to 10,321.09 points.

[Asian Market] Asian stocks were generally strong on Monday, with South Korean indices rising more than 2%.

Asian markets were broadly strong on Monday, opening high and staying elevated throughout the session, with South Korean indices rising more than 2%. At the close, Japan's Nikkei 225 Index rose 1.38% to 60,537.36 points; Japan's TOPIX Index gained 0.50% to 3,735.28 points. South Korea's KOSPI Index advanced 2.15% to 6,615.03 points.

[Hong Kong Market] The three major Hong Kong stock indexes closed mixed, with the Hang Seng Tech Index up 0.77%

On Monday, the three major Hong Kong stock indexes closed mixed, with only the Hang Seng Tech Index posting gains. At the close, the Hang Seng Index fell 0.20% to 25,925.65 points; the Hang Seng Tech Index rose 0.77% to 4,939.84 points; and the Hang Seng China Enterprises Index fell 0.22% to 8,756.32 points. In terms of sectors, the storage chip concept surged collectively due to DeepSeek’s launch of a new large-scale model during the period, with Montage Technology closing up 13.78%. Most semiconductor stocks performed strongly, with Brainpower Technology surging nearly 20%, OmniVision Group rising over 9%, and SMIC and Hua Hong Semiconductor both gaining over 6%. Tea beverage stocks generally closed lower, with Mixue Group and Guming falling more than 2%, and Chabaidao and Nayuki's Tea dropping more than 1%.

[A-Share Market] A-share market performance was mixed, with the three major indexes showing different movements

On Monday, the A-share market diverged in performance. Both the Shanghai Composite Index and the Shenzhen Component Index opened higher and maintained upward momentum throughout the day, while the ChiNext Index opened higher but then fluctuated and declined. At the close, the Shanghai Composite Index rose 0.16% to 4,086.34 points; the Shenzhen Component Index increased by 0.37% to 14,995.75 points; and the ChiNext Index fell 0.52% to 3,648.79 points. In terms of sectors, the semiconductor sector showed strong performance, with ST Tianlong hitting the 20% upside limit, and shares such as Coremax and Fuchuang Precision gaining over 10%. The PCE (Printed Circuit Board) concept benefited from continued demand for AI servers, with many PCE companies reporting impressive Q1 2026 earnings. Fangbang Co., Ltd. and Yihao New Materials both rose over 14%, while Tianjin Prin and Jingwang Electronics hit the upside limit. Consumer electronics advanced, with shares like Rainbow Co., Ltd. and OmniVision Group hitting the upside limit. Meanwhile, photovoltaic, baijiu, and precious metals sectors were among the top decliners.

– Bonds

[US Bonds] US Treasury yields moved higher.

On Monday, U.S. Treasury yields moved higher. In late New York trading, the yield on the 10-year U.S. Treasury note rose 3.69 basis points to 4.3375%, and the yield on the two-year Treasury note climbed 2.1 basis points to 3.7993%.

[Non-U.S. Bond Markets] European government bond yields rose across the board

On Monday, European government bond yields rose across the board. In late European trading, the yield on Germany's 10-year government bond increased 3.9 basis points to 3.033%, while the yield on the two-year German government bond rose 2.6 basis points. The yield on the UK's 10-year government bond climbed 6 basis points to 4.972%, and the yield on the two-year UK government bond rose 4.1 basis points. France’s 10-year government bond yield increased 5.0 basis points to 3.688%, while the yield on the two-year French government bond climbed 2.9 basis points.

[China Bond Market] On Monday, government bond futures fell across the board

On Monday, government bond futures fell across the board. At the close, the 30-year main contract dropped 0.52%, the 10-year main contract fell 0.22%, the 5-year main contract declined 0.14%, and the 2-year main contract slipped 0.05%.

– Foreign exchange

[Dollar] The U.S. Dollar Index opened higher but closed lower, with the ICE U.S. Dollar Index down 0.07%

The US Dollar Index opened higher but then declined; during the New York session close, the ICE US Dollar Index fell by 0.07% to 98.461 points, and the Bloomberg US Dollar Index dropped by 0.10% to 1,195.71 points.

[Non-US Dollar Currencies] The US dollar remained mostly flat, while the Australian dollar rose nearly 0.5%.

On Monday, the US dollar was mostly flat against major global currencies, with the Australian dollar rising nearly 0.5%. In the New York session, the US dollar rose 0.01% against the Japanese yen to 159.40 yen. The euro was flat against the US dollar compared to the previous trading day, at 1.1722 dollars, and the British pound was also unchanged from the previous trading day’s level, at 1.3538 dollars. The US dollar gained 0.04% against the Swiss franc, while the Australian dollar rose 0.49% against the US dollar.

[Chinese Yuan] The US dollar versus offshore Chinese yuan settled at 6.8262 yuan.

In the New York session, the US dollar versus offshore Chinese yuan fell by 84 points from the previous trading session close to 6.8262 yuan. Onshore Chinese yuan versus the US dollar rose by 103 points from the previous night session close to 6.8239 yuan.

[Cryptocurrencies] Cryptocurrency markets pulled back, with Bitcoin falling approximately 1.7%.

On Monday, cryptocurrency markets saw a pullback, with Bitcoin dropping approximately 1.7%, experiencing two significant declines during the session and settling at around $76,500.

– Product

[Energy] US crude oil futures rose by 2.09%.

The likelihood of easing tensions in the Middle East has decreased again, with the US blockade of Iranian oil tankers causing oil prices to rise once more. In the New York session, US crude oil futures climbed 2.09%, settling at $96.37 per barrel.

[Precious Metals] Metal markets were broadly lower, with spot gold prices falling 0.62%.

Precious Metals:Gold prices fell, with spot gold dropping 0.62% to $4,680.23 per ounce in New York trading; US gold futures declined 0.99% to $4,729.20 per ounce.

Metals Futures Market:Precious metals and non-ferrous metals markets were broadly lower, with spot silver down 0.33% at $75.4783 per ounce; US silver futures fell 1.36% to $75.895 per ounce. US copper futures dropped approximately 0.09% to $6.0830 per pound; spot platinum declined 1.47%, and spot palladium fell 1.45%.

[Disclaimer]

The content above is provided by Harbor Family Office (hereinafter referred to as "Harbor Family Office"), sourced from market information gathered from various channels. Neither Harbor Family Office nor its group members participated in preparing the content, nor did they explicitly or implicitly endorse or approve it. This article is for reference only and does not constitute any investment or trading advice. Investment involves risks. Readers should independently evaluate and judge this information and are advised to consult professionals before making any investment or trading decisions. Without authorization, no one may reproduce, copy, or publish the content in whole or in part to the public in any manner. Copyright belongs to Harbor Family Office and relevant providers.

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