Biden announced more than $2 trillion in infrastructure and economic recovery plans, the U.S. ISM manufacturing index hit a 37-year high in March, and the market became more bullish on the prospects for global economic recovery, with European and U.S. stock markets opening in April. European and U.S. Treasury prices likewise rose, with long-term U.S. bond yields falling sharply, significantly off their highs in more than a year, while the Federal Reserve’s most important interest rate fell for the first Time in more than a month, highlighting the pressure on the short end of the market.
Following the release of a massive stimulus package and favorable economic data, OPEC+ did not maintain its current production cuts at Thursday’s meeting as the market had expected, but agreed to gradually increase Crude Oil supply over the next three months, while Saudi Arabia gradually withdrew its voluntary additional production cuts since February during the same period, with crude oil futures turning down briefly during the session, but quickly turning up. Some commentators believe that OPEC+ is cautiously bullish on the economic recovery and chose to gradually scale down production cuts, which gave oil prices the impetus to rally.
U.S. bond yields dipped while the U.S. dollar index continued to fall, precious metals such as Gold and some industrial metals such as copper continued to rise, while bitcoin turned lower intraday, falling below $58,000 at one point.
This Friday is Good Friday, the financial markets in Europe and the United States are closed, in only four trading days of the week, the major stock indexes in Europe and the United States accumulated gains, bitcoin and many other cryptocurrencies rose sharply, but gold, silver and copper throughout the week still continue to accumulate losses.
The S&P for the first time on the 4,000-point Nasdaq again hit the largest three-week gain chip, gold, energy stocks are up leading technology stocks only tesla fell
The three major U.S. stock indexes continued to open collectively higher, with the Nasdaq Composite Index leading the way again and the Dow Jones Industrial Average and S&P 500 both opening higher. The Nasdaq opened up nearly 1.3%, up more than 1.8% in early trading when it hit a new intraday high since March 17, and has since narrowed slightly, still more than 1%. The S&P opened 0.5% higher, at the beginning of the session that is, for the first time in history, rose above the 4,000-point mark, and has since continued to set new intraday record highs, up 1.2% at lunchtime. The Dow opened up more than 70 points, early gains expanded to more than 100 points, up more than 180 points in the lunchtime when the new daily high.
Finally, the three major indices collectively closed up, the S&P and the Nasdaq rose for two consecutive days, the Dow ended two consecutive days of losses.
S&P 500 closed up 1.18% at 4019.87 points, the first time in history to close above 4,000 points. The Nasdaq closed up 1.76% at 13,480.11 points, a new closing high since March 17, and for the second consecutive day, the largest closing gain since March 11. The Dow closed up 173 points, or 0.52%, at 33,153.21.
Value stocks dominated the small-cap index Russell 2000 closed up 1.5%, compared to the three major indices still only losing the Nasdaq. The technology-heavy Nasdaq 100 index closed up 1.82%, outperforming the three major indices.
This week, the major indices are cumulative gains, the Dow rose 0.24% bottom performance, and cumulative 1.14% S&P are up two weeks in a row, the best performance of the Nasdaq cumulative 2.6%, ending a two-week losing streak, Russell 2000 cumulative 1.46%, the Nasdaq 100 cumulative 2.7%.
The Dow components, cloud software giant Salesforce rose more than 3% to lead the pack. S&P 500 of the 11 major sectors, Thursday only fell more than 0.2% of health care and essential consumer goods and a slight decline of 0.02% of the utilities closed down, rising sectors, up more than 2% of energy and information technology led the rise, telecommunications services rose slightly more than 2%, real estate and finance rose more than 1%, the smallest increase in the pad is up 0.4% of industry.
FAANMG six major technology stocks closed up collectively, Nifty, Google parent company Alphabet rose more than 3%, Microsoft, Amazon rose more than 2%, Facebook rose more than 1%, Apple rose 0.7%. But another blue-chip technology stocks Tesla closed down more than 0.9%.
Chip stocks, TSMC rose more than 5%, the division said the next three years to invest $100 billion to increase production capacity; Micron Technology rose more than 4%, the division announced after the bell on Wednesday the second quarter revenue and earnings and fiscal third quarter earnings guidance are higher than market expectations; Qualcomm rose nearly 4%, AMD rose more than 3%, the semiconductor sector ETF SOXX also rose more than 3%.
Energy stocks, Scherumberger rose more than 3%, Occidental Petroleum, Exxon Mobil, Halliburton rose more than 2%, tracking the largest ETF USO crude oil futures rose more than 3%.
Among gold stocks, Barrick Gold rose nearly 3%, the largest gold ETF GLD rose over 1%, and gold mining stocks ETF GDX rose over 3%.
Popular Chinese outperformed the broader market, Chinese ETF CQQQ and KWEB rose over 2% and nearly 3%, respectively; Kingsoft Cloud, interesting headlines rose over 11%, Zhihu, Doodle Intelligence rose over 10%, Predo rose over 7%, Tencent ADR rose over 5%, Baidu rose nearly 1%, but with who learned fell 5%, Tencent Music fell over 1.8%, Alibaba fell over 1%, Jingdong fell slightly by 0.02%.
In the European market, the final value of March Eurozone manufacturing PMI higher than expected, the largest month-on-month increase since records, offset the negative impact of the French national blockade, just ended a three-day streak of pan-European stock index restarted the rally, closing less than 2 points away from the record high, up more than 1.2% for the week, up five weeks in a row. German stock index closed at a record high for the third day this week, up more than 2% for the week, the best performance in the major European countries. In terms of individual stocks, Credit Suisse European shares rose more than 2% on Thursday, closing higher for the first time this week, but the week’s cumulative decline of more than 18%, the largest one-week decline since March last year.
Crude oil rebounded after a short turn down U.S. oil once rose more than 4% to end a two-week losing streak
After the OPEC+ meeting decision was announced, international crude oil futures first retreated more than 3% of the gains turned down, and then turned up, Brent crude oil refers to the U.S. stock market at lunchtime once approached $65.20 to refresh the last two-day intraday high, up nearly 3.9% during the day, the U.S. WTI crude oil at lunchtime had risen through $61.70, up nearly 4.4% during the day.
WTI May crude oil futures closed up $2.29, or 3.87%, at $61.45/barrel, up 0.79% for the week, erasing all last week’s losses and ending a two-week losing streak. Brent June crude oil futures closed up $2.12, or 3.38%, at $64.86/barrel, up more than 0.4% for the week, up two weeks in a row.
The 10-year U.S. bond yield once fell 7 basis points 2-year yield still rose The Federal Reserve’s most important rate fell for the first time in more than a month
U.S. 10-year benchmark Treasury yields in early Asian trading on Thursday had risen above 1.75%, close to the 14-month high set by Tuesday’s rise above 1.77%, up less than 1 basis point during the day, less than the Asian midday market to give back all the gains turned down, since then all the way down, the U.S. early fall to 1.68% below a new daily low, down about 7 basis points during the day, down nearly 8 basis points from the intra-day high, the U.S. midday regained 1.68%.
By the time U.S. stocks closed, the 10-year U.S. bond yield was about 1.68%, down 6 basis points intraday, the largest drop in more than a week; the 30-year U.S. bond yield was 2.34%, at a trough of more than a week, down 7 basis points intraday, the largest drop in more than three weeks; the 2-year U.S. bond yield was 0.16%, up less than 1 basis point intraday, climbing for five consecutive days, at a high of more than three weeks.
The effective federal funds rate (EFFR), which has been at 0.07% since Feb. 18, fell to 0.06% on Thursday. Commentary suggests continued pressure in the short-end U.S. bond market. This stems in part from the fact that the Biden Administration‘s massive economic stimulus is causing a continued influx of liquidity and reserves into the financial system, hitting overnight rates and short-term rates.
By the end of New York, the 10-year U.S. bond yield fell 0.6 basis points cumulatively this week, and the 30-year U.S. bond yield fell more than 4 basis points cumulatively, while the 2-year yield rose nearly 2 basis points cumulatively.
European government bond prices rose collectively on Thursday, with the price of British bonds rebounding after days of declines. British 10-year benchmark bond yields fell 5 basis points to 0.795% during the day, the first time in a week, and the largest drop in more than a week; German bond yields fell 4 basis points to -0.33% during the same period. This week, British bond yields rose by more than 4 basis points, German bond yields rose by 2 basis points, both erasing part of last week’s decline.
The U.S. dollar index is still up three weeks in a row after two straight negative streaks Bitcoin fell below $58,000 intraday, but and many cryptocurrencies are up more than 10% a week
The ICE dollar index (DXY), which tracks the exchange rate of a basket of six major currencies, rose above 93.30 in Asian midday trading to set a new daily high, up more than 0.1% during the day, European stocks turned lower in early trading and have been moving lower since then, falling below 92.90 in U.S. midday trading to set a new daily low, down 0.38% during the day, giving back all the gains made in the last two days, further away from the intraday high set on Tuesday when it rose above 93.50 last November. The day’s low was 92.90, a new daily low of 0.38%, giving up all the gains of the last two days and moving further away from the intraday high of 93.50 set on Tuesday since November last year.
By Thursday’s U.S. stock market close, the dollar index was at 92.90, down more than 0.35% intraday and down for a second straight day, still up more than 0.2% for the week and up for three weeks in a row; the Bloomberg Dollar Spot Index fell 0.3% to 1,148.81 points, the biggest drop in more than two weeks.
Mainstream cryptocurrencies were mostly higher on Thursday. Bitcoin (BTC) had risen above $59,400 in early European trading to set a new daily high, and has since fallen back, falling below $58,000 at lunchtime in the U.S. to set a new daily low, down about $1,500 from the intra-day high, and closing below $59,300 in the U.S., down nearly 0.5% in the last 24 hours, up more than $5,000 from Friday’s U.S. close.
Ether (ETH), the second-largest cryptocurrency by market capitalization after bitcoin, rose above $1,980 in U.S. midday trading Thursday, approaching the all-time high set in late February when it broke the $2,000 mark. Including Bitcoin and Ether, multiple cryptocurrencies have accumulated gains of more than 10% in the last seven days.
Gold and silver rose twice in a row but fell for two weeks in a row, while copper fell nearly 2% this week for three weeks
New York gold and silver futures closed up for the second day in a row, but fell for two weeks in a row. COMEX June gold futures closed up 0.75% to close at $1728.40 per ounce, down more than 0.2% for the week, down two weeks in a row, although the last two trading days of the week closed up, but the first two days are down more than 1%, including Tuesday closed down nearly 1.7%, the largest decline in more than a month, approaching the closing since early April last year The low point. Gold futures closed up 1.7%, still failed to close back on $ 25, down 0.66% for the week.
London base metals futures Thursday mixed. Lun copper, Lun aluminum, Lun nickel rose for two days, but Lun copper closed below $ 8800 for three consecutive days, only temporarily out of more than five weeks low; Lun lead ended a four-day streak, down more than three weeks high; Lun zinc and Lun tin resumed the decline, respectively, hit a week and more than two weeks of new lows.
This week’s base metals only ended a five-week losing streak in the cumulative rise in lead, copper fell for three weeks, zinc fell for two weeks, aluminum and nickel ended a two-week streak, and tin ended a three-week streak.
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