Financial Daily: US April CPI rose 3.8% YoY, surpassing expectations; Nasdaq closed down 0.71%; US bond yields continued to rise; WTI crude oil returned above $100

- Key Focus

– Google and SpaceX are in talks regarding a rocket launch agreement

– CME Group announces partnership with Silicon Data to launch an AI computing power futures market

– UK Prime Minister Starmer states he will not resign

– US appeals court temporarily halts ruling on Trump administration's 10% global tariff

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

[US Market] Mixed performance in the three major US stock indexes, Nasdaq falls over 0.7%

On Tuesday, negotiations between the US and Iran remained deadlocked, with significant declines in chip stocks compounded by higher-than-expected inflation data weighing on the US stock market. The market later rebounded due to substantial bargain hunting during trading hours, resulting in a V-shaped trend overall. The three major US stock indexes showed mixed results, with the Nasdaq falling more than 0.7%.

At the close, the S&P 500 Index fell 0.16% to 7,400.96 points; the Nasdaq Index dropped 0.71% to 26,088.20 points; the Dow Jones Industrial Average rose 0.11% to 49,760.56 points. The VIX Volatility Index fell 2.23% to 17.97 points. The Philadelphia Semiconductor Index fell over 3% to 11,717.26 points.

The index of the seven major US tech giants fell 0.32%, with Tesla dropping 2.60%, Amazon and Microsoft both declining nearly 1.2%, NVIDIA rising 0.61%, and Meta and Apple each gaining about 0.7%. The Nasdaq Golden Dragon China Index fell 0.82% to 7,009.212 points. Among popular Chinese stocks, Baidu Group dropped 4.01%, Alibaba fell 1.84%, New Oriental Education rose 0.27%, and Xiaomi Group declined 1.18%. On an individual stock basis, Taiwan Semiconductor fell 1.80% and Circle dropped 6.03%.

[European Market] Major European indexes generally declined

On Tuesday, major European indexes generally declined. At the close, the pan-European STOXX 600 Index fell 1.01% to 606.63 points, while the pan-European STOXX 50 Index dropped 1.48% to 5,808.45 points.

Germany's DAX 30 Index closed down 1.62% at 23,954.93 points; France's CAC 40 Index closed down 0.95% at 7,979.92 points; the UK's FTSE 100 Index closed down 0.04% at 10,265.32 points; Italy's FTSE MIB Index closed down 1.36% at 48,990.98 points.

[Asian Markets] Asian stocks mostly fell on Tuesday, with Japanese indices closing higher.

Asian stocks mostly fell on Tuesday, with Japanese indices closing higher and South Korean stocks retreating. By the close, Japan’s Nikkei 225 Index rose 0.52% to 62,742.57 points; South Korea’s KOSPI Index fell 2.29% to 7,643.15 points; Singapore’s FTSE Straits Times Index fell 0.03% to 4,941.32 points; Thailand’s SET Index fell 0.38% to 1,483.56 points.

[Hong Kong Market] All three major Hong Kong stock indexes closed lower

Hong Kong stocks opened higher on Tuesday but gradually declined, turning negative after midday trading, with all three major indices closing lower. At the close, the Hang Seng Index fell 0.22% to 26,347.91 points; the Hang Seng Tech Index fell 0.70% to 5,070.61 points; and the Hang Seng China Enterprises Index fell 0.02% to 8,882.37 points. Sector-wise, oil stocks strengthened as crude oil prices rose amid renewed tensions in the Middle East, with PetroChina closing up nearly 4%, while Kunlun Energy and China National Offshore Oil Corporation gained over 1%. AI application stocks generally fell, with Xunshi dropping more than 7%, Zhipu closing down 6.56%, MINIMAX falling 6.31%, and Gigadevice falling 4.54%. Most tech stocks rose, with NetEase gaining 1.81% and Kuaishou surging about 2% following news of its AI spin-off going public.

[A-share Market] A-shares fluctuated, with mixed performance across the three major indices.

A-shares fluctuated on Tuesday, hovering around the previous trading day's levels, with mixed gains and losses across the three major indices. At the close, the Shanghai Composite Index fell 0.25% to 4,214.49 points; the Shenzhen Component Index fell 0.47% to 15,824.92 points; and the ChiNext Index rose 0.15% to 3,934.88 points. Sector-wise, power stocks were active, with Shaoguan Power, Dalian Thermal Power, and Datang Power hitting their daily limits, and Datang Power marking five consecutive sessions of limit-up gains. The semiconductor sector broadly strengthened, with Core Equipment rising more than 15% and Huahai Qingke closing up 13.65%. Rare earths, innovative drugs, AI applications, lithium batteries, and commercial space sectors saw notable declines.

- Bonds

[US Treasuries] US Treasury yields continued their upward trend, with the 10-year yield rising more than 4 basis points.

US Treasury yields continued their upward trend. In New York trading late afternoon, the 10-year US Treasury yield rose 4.44 basis points to 4.459%, while the two-year US Treasury yield increased by 3.99 basis points to 3.989%.

[Non-US Bond Market] Yields on government bonds in major European countries generally rose

Yields on European sovereign bonds continued to rise, with the 10-year German Bund increasing more than 10 basis points over the past four trading sessions. Germany’s 10-year bond yield rose 6.1 basis points to 3.101%, and its two-year bond yield climbed 6.6 basis points to 2.713%. The UK’s 10-year bond yield rose 10.3 basis points to 5.101%. France’s 10-year bond yield rose 7.9 basis points, while Italy’s 10-year bond yield increased 9.3 basis points.

[China Bond Market] On Tuesday, government bond futures continued to strengthen.

On Tuesday, Treasury futures continued to strengthen, with the 30-year Treasury主力contract rising 0.25%, the 10-year Treasury主力contract increasing by 0.07%, the 5-year Treasury主力contract up 0.03%, and the two-year Treasury主力contract gaining 0.01%.

– Foreign exchange

[US Dollar] The US dollar strengthened, with the British pound falling approximately 0.5%.

The US Dollar Index rose for the second consecutive trading day, with the yen dropping 0.25%. In New York trading, the ICE US Dollar Index climbed 0.33% to 98.275 points, while the Bloomberg Dollar Index increased 0.29% to 1,192.70 points.

The US dollar rose 0.25% against the yen to 157.58 yen; the euro fell 0.32% against the dollar to 1.1746 dollars; the pound dropped 0.49% against the dollar to 1.3543 dollars; and the Australian dollar slipped 0.14% against the dollar.

[Renminbi] The US dollar was quoted at 6.7908 yuan against offshore renminbi.

In New York trading, the US dollar fell 11 points against the offshore renminbi compared to the previous trading day's close, quoted at 6.7908 yuan. The onshore renminbi rose 8 points against the dollar from the previous trading day's closing price, quoted at 6.7946 yuan.

[Virtual Assets] The virtual asset market experienced volatile declines, with Bitcoin falling approximately 1.4%.

On Tuesday, the virtual asset market experienced volatile declines, with Bitcoin dropping about 1.4%. It fell as much as 2.5% during the session before rebounding.

– Products

[Energy] US crude oil futures prices moved back above $100 per barrel.

US crude oil futures prices rose throughout the day, moving back above $100 per barrel. In New York trading, US crude oil futures surged 4.19%, settling at $102.18 per barrel.

Precious metals: Gold prices slightly fell back, while silver prices continued to rise.

Precious Metals:Gold prices surged then pulled back, closing slightly lower. At the New York tail end, spot gold fell by 0.45%, trading at $4,714.95 per ounce; US gold futures dropped by 0.15%, at $4,721.00 per ounce.

Metals Futures Market:Silver prices continued to rise slightly following a big jump in the previous session. By the New York close, spot silver was up 0.57% at $86.5445 per ounce, and US silver futures rose 1.42% to $87.165 per ounce. US copper futures climbed 2.24% to $6.637 per pound. Spot platinum closed down 0.1%, while spot palladium fell nearly 1%.

[Disclaimer]

The above content is provided by Harbor Family Office (hereinafter referred to as "Harbor Family Office"), summarized from various market information sources. Harbor Family Office and its group members did not participate in preparing the content nor explicitly or implicitly endorse it. This article is for reference only and does not constitute any investment or trading advice. Investment involves risks. Readers should independently assess and judge this material and are advised to seek professional opinions before making any related investments or trades. Without authorization, no one may reproduce, copy, or publish this content in whole or in part to the public in any manner. Copyright belongs to Harbor Family Office and related providers.

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