Financial Daily: US S&P and Nasdaq hit new highs again; US April CPI to be released soon; Trump's upcoming visit to China draws market attention

- Key Focus

– China's Foreign Ministry announced that US President Trump will pay a state visit to China from May 13 to 15.

– According to Reuters, Musk, Apple CEO Cook, Boeing CEO Altberg, and others will accompany Trump on his visit to China, while NVIDIA CEO Jensen Huang will be absent.

– Ukrainian President Zelenskyy met with the German Defense Minister to discuss topics such as weapons production and drones, confirming their cooperation.

– Trump stated he would push for a temporary suspension of the federal gasoline consumption tax.

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] All three major US stock indexes closed higher, with the S&P 500 and Nasdaq hitting new record highs.

On Monday, as negotiations between the US and Iran once again stalled, last week's market optimism about tensions in the Middle East and energy was dampened. Oil prices rebounded, but the market remained buoyed by strong earnings reports from several large companies, pushing US stocks higher. All three major indexes closed up, with the S&P 500 and Nasdaq Composite reaching new all-time highs.

At the close, the S&P 500 Index rose 0.19% to 7,412.84 points; the Nasdaq Composite Index gained 0.10% to 26,274.125 points; and the Dow Jones Industrial Average climbed 0.19% to 49,704.47 points. The VIX volatility index rose 6.86% to 18.37 points. The Philadelphia Semiconductor Index surged 2.60% to 12,081.042 points, breaking above 12,000 points for the first time in history.

The index of the Magnificent Seven US tech giants fell 0.29%, with Tesla gaining 3.91%, NVIDIA rising 1.97%, Microsoft dropping 0.59%, Amazon falling 1.35%, Meta declining 1.77%, and Google A plunging over 3%. The Nasdaq Golden Dragon China Index gained 1.03% to 7,067.16 points. Among popular Chinese stocks, JinkoSolar and Li Auto rose over 4.5%, while Alibaba dropped 2.2%, and New Oriental Education fell 2.7%. In individual stocks, Taiwan Semiconductor fell 1.80%, and Circle surged 15.78%.

[European Market] European major indexes showed mixed results.

On Monday, European major indexes showed mixed results. At the close, the pan-European STOXX 600 Index rose 0.11% to 612.79 points, while the pan-European STOXX 50 Index fell 0.27% to 5,895.45 points.

Germany's DAX 30 index closed up 0.05% at 24,350.28 points; France's CAC 40 index closed down 0.69% at 8,056.38 points; the UK's FTSE 100 index closed up 0.36% at 10,269.43 points; Italy's FTSE MIB index closed up 0.76% at 49,664.95 points.

[Asian Markets] Asian stocks were mixed on Monday, with South Korean indexes hitting new highs

Asian stocks were mixed on Monday, with South Korean indexes opening higher and continuing to rise to new highs. At the close, Japan's Nikkei 225 index was down 0.47% at 62,417.88 points; South Korea's KOSPI index was up 4.32% at 7,822.24 points; Singapore's FTSE Straits Times Index was up 0.40% at 4,941.82 points; Thailand's SET index was down 0.75% at 1,489.11 points.

[Hong Kong Market] Hong Kong's three major indexes showed mixed performance

Hong Kong stocks opened lower on Monday but began a sustained upward trend during the session to near the previous trading day’s level. The Hang Seng Index and the Hang Seng Tech Index turned positive, while the Hang Seng China Enterprises Index closed slightly lower. At the close, the Hang Seng Index was up 0.05% at 26,406.84 points; the Hang Seng Tech Index was up 0.07% at 5,106.40 points; and the Hang Seng China Enterprises Index was down 0.05% at 8,884.20 points. In terms of sectors, due to the National Energy Administration working with the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the National Data Bureau issuing the 'Action Plan for Promoting Mutual Empowerment of Artificial Intelligence and Energy,' which noted that the proportion of green power usage would be an important reference indicator, the green power concept strengthened, with Xiehe New Energy closing up 7.69% and Shanghai Electric closing up 7%. Tech stocks performed unevenly, with Lenovo Group closing up nearly 7%, SMIC up 4.43%, Tencent down 1.48%, Bilibili and Baidu Group down about 3%, and Alibaba closing down 3.67%.

[A-share Market] A-share three major indexes closed higher, with the ChiNext index surging 3.5%

A-shares performed strongly across the board on Monday, with the three major indexes all closing higher. The ChiNext index surged 3.5%, and both it and the Shanghai Composite Index reached new 11-year highs. At the close, the Shanghai Composite Index was up 1.08% at 4,225.02 points; the Shenzhen Component Index was up 2.16% at 15,899.30 points; and the ChiNext Index was up 3.50% at 3,928.97 points. In terms of sector performance, driven by strong demand from technology companies for semiconductors and chips, combined with sharp increases in leading Japanese, South Korean, and U.S. firms, the A-share semiconductor industry chain rose across the board, with CSIC Special Gases surging 20% and JCET hitting the upper limit. Storage chip stocks performed strongly, with Tongyou Technology and Puyan Co., Ltd. both closing up 20%, and Montage Technology and Jiangbo Storage rising over 10%. Due to concerns over the Hantavirus, virus detection concepts generally strengthened, with Walvax Biotech, Capricorn Pharma, and Hualan Vaccine all up over 10%. Precious metals, shipping ports, and airports fell sharply.

- Bonds

[U.S. Treasury Bonds] U.S. Treasury yields strengthened, with the two-year Treasury yield rising over 6 basis points

U.S. Treasury yields strengthened amid the deadlock in the Middle East situation. In late New York trading, the 10-year U.S. Treasury yield rose 5.43 basis points to 4.4084%; the two-year U.S. Treasury yield rose 6.06 basis points to 3.9452%.

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

Yields on government bonds in major European countries generally increased. The yield on Germany's 10-year government bond rose by 3.5 basis points to 3.04%, while the yield on Germany’s 2-year government bond increased by 4.7 basis points to 2.646%. The yield on the UK's 10-year government bond rose by 8.6 basis points to 4.998%. France's 10-year government bond yield increased by 3.7 basis points, and Italy's 10-year government bond yield rose by 4.8 basis points.

[China Bond Market] Treasury futures strengthened across the board on Monday

On Monday, treasury futures strengthened across the board. The 30-year treasury main contract rose by 0.32%, the 10-year treasury main contract increased by 0.07%, the 5-year treasury main contract rose by 0.02%, and the 2-year treasury main contract increased by 0.01%.

– Foreign exchange

[US Dollar] The US dollar rose slightly, with the yen falling about 0.4%

The US Dollar Index rose slightly, with the yen falling by about 0.4%. In late New York trading, the ICE US Dollar Index rose by 0.06% to 97.955 points. The US dollar rose by 0.29% against the yen to 157.11 yen; the euro fell by 0.03% against the dollar to 1.178 dollars; and the pound rose by 0.04% against the dollar to 1.3637 dollars.

[Renminbi] USD/CNH exchange rate reported at 6.7919 yuan

In late New York trading, the offshore renminbi (USD/CNH) was up 52 points from the previous trading day’s close, reporting at 6.7919 yuan. The onshore renminbi (USD/CNY) rose by 63 points from the previous trading day’s closing price, reporting at 6.7954 yuan.

[Virtual Assets] The virtual asset market showed volatility, with Bitcoin rising approximately 1.4%

The virtual asset market experienced volatility on Monday, with Bitcoin rising approximately 1.4%, closing near $82,000.

– Products

[Energy] Crude oil prices rose amid a deadlock in US-Iran talks

Crude oil prices increased as peace negotiations between the US and Iran once again reached a deadlock. In New York trading, US crude oil futures rose 2.78%, settling at $98.07 per barrel.

[Precious Metals] The metals market saw broad gains, with silver prices surging over 7%

Precious Metals:Gold prices edged higher, with spot gold rising 0.4% to $4,734.33 per ounce in New York trading; US gold futures climbed 0.46% to $4,747.60 per ounce.

Metals Futures Market:Precious metals and non-ferrous metals showed strong gains, with silver prices surging over 7%. Spot silver jumped 7.15% to $86.08 per ounce in New York trading, while US silver futures surged 7.54% to $86.96 per ounce. London copper futures gained 2.6%, marking the sixth consecutive day of gains, closing at $13,930 per ton. Spot platinum ended up 3.7%, and spot palladium rose over 1.2%.

[Disclaimer]

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