In the supply chain disruptions and raw material shortages continue in the situation, the U.S. ISM manufacturing index in April fell to a 38-year high, but corporate performance to the good, has announced earnings of the S&P 500 constituent companies, nearly 90% of the first quarter earnings are better than market expectations, the Federal Reserve a hand and three hands continue to throw cold water on the reduction of QE. The three major U.S. stock indexes opened collectively higher, but under the pressure of most blue-chip technology stocks such as Amazon turned down, the Nasdaq turned down in the middle of the day, failing to open the door with the S&P and Dow in May.
Among individual stocks, Tesla opened lower after news of a possible delay in the start of production of the Berlin mega-factory project, and had fallen 4% during the day, limiting the gains of the S&P and Nasdaq 100. Berkshire Hathaway, led by Warren Buffett, rose 2% intraday after the division on Saturday reported its second-highest first-quarter operating profit since 2010, up 20% from a year earlier, and Buffett disclosed Monday that Greg Abel, head of the company’s non-insurance business, will be his successor as CEO in the future. cosmetics Estee Lauder, which had weaker-than-expected revenue in the first quarter, opened down more than 3% and had fallen 8% intraday. Moderna, which agreed to supply up to 500 million doses of vaccines to COVAX, a U.N. program to support low- and middle-income countries, rose more than 5% intraday.
After the release of the U.S. ISM manufacturing index, the yield on the 10-year U.S. Treasury note, which turned lower during the session, accelerated downward, once testing 1.58%, falling to a four-day low, as the dollar index set a new daily low.
Gold, which has fallen for days recently, rebounded strongly on the back of the lower dollar and U.S. bond yields. Crude oil futures rebounded on the back of economic recovery optimism and a weaker dollar.
In European markets, the European Commission announced plans to ease restrictions on the tourism outbreak, German retail sales unexpectedly rose 11% in March instead of falling, the fastest growth rate since the outbreak, and the Eurozone manufacturing PMI in April was slightly lower than the initial value but still set a record high final value. European stocks closed higher across the board, led by auto stocks. European bond prices fell in early trading, stopped falling and rose in the afternoon, the last three trading days for the second time a 14-month high in German government bond yields turned down during the day, investors are concerned about the ECB has no hint of QE reduction.
Monday is a British bank holiday sabbatical, British stocks, British bonds and London financial markets closed for the day. Ireland, Greece, Russia markets are also closed.
European stocks joined the S&P Dow to open the month of May, the Nasdaq hit another week low Tesla and other leading technology stocks dragged down the broader market Energy sector led the S&P
The three major U.S. stock indexes, the Nasdaq Composite Index, which turned lower in early trading, performed relatively worst, up nearly 0.6% in early trading when it set a new daily high, and down nearly 0.6% in midday trading when it hit a new intraday low since April 23. The S&P 500 and the Dow Jones Industrial Average maintained gains throughout the day. The S&P had regained 4200 points in early trading, approaching the intraday record high set last Thursday, up nearly 0.7% intraday, the Dow rose above 34200 points at the end of early trading, approaching the intraday record high set on April 16, the largest intraday gain of nearly 350 points, a percentage gain of about 1%.
In the end, the three major indices closed with mixed gains and losses. The S&P closed up 0.27% at 4192.66 points, less than 0.45% away from the record closing high set last Thursday. The Dow closed up 238.38 points, or 0.7%, at 34,113.23 points, a new high since April 21, less than 90 points away from the closing record high set on April 16. The Nasdaq closed down 0.48% at 13895.12 points, closing at a new low for the second consecutive day since April 22.
Value stocks dominated the small-cap index Russell 2000 closed up 0.49%, underperforming only the Dow in the three major indices. The technology-heavy Nasdaq 100 index closed down 0.44%.
Dow components, up more than 3% of Dow Chemical led the way, up more than 2% of the only energy stock Chevron rose. The S&P 500’s 11 major sectors, five closed Monday, down nearly 0.7% of non-essential consumer goods led the decline, real estate fell nearly 0.5%, telecommunications services fell nearly 0.4%, information technology fell more than 0.2%, utilities fell slightly. Up in the sector, up more than 3% of energy far ahead of other sectors, materials, health care and industrial rose more than 1%, the smallest gain was up more than 0.5% of the financial.
Industry stocks, in addition to Apple, leading technology stocks had fallen during the day, closing down nearly 3.5% of Tesla’s worst performance. FAANMG six major technology stocks, only up more than 0.8% of Apple closed up, Amazon fell more than 2%, Nifty fell more than 0.8%, Facebook fell nearly 0.8%, Google parent company Alphabet fell more than 0.4%, Microsoft fell more than 0.1%.
Among other technology stocks, AMD, Ceres and ON Semiconductor fell more than 3%, dragging the semiconductor ETF SOXX down 1%.
Energy stocks supported by the rebound in crude oil rose generally, the oil services giant Baker Hughes, which was upgraded by Barclays, rose nearly 8%, TechnipFMC (FTI), Valero Energy (VLO) and Halliburton (HAL) rose more than 5%, Schlumberger rose more than 4%.
Including Tesla, new energy vehicle stocks fell in general, RIDE fell about 7%, Fisker fell more than 6%, Nikola fell about 5%, Chinese electric car stocks fell relatively small, Xiaopeng car fell nearly 3%, ideal car fell about 1.5%, Azera car fell about 0.6%.
Among the more volatile stocks, Moderna rose 4%; Estee Lauder closed down nearly 8%. In addition, Berkshire Hathaway closed up more than 1%.
Pan-European stock indexes rebounded after two consecutive days of losses, coming out of more than a week-long trough, with the Euro Stoxx 600 index posting its biggest closing gain since April 21. VW, which will design its own driverless car chips, rose 2%, powering the auto sector up more than 1% to lead the sectors.
The dollar index turned lower during the session Bitcoin hit a two-week high on the test of $59,000 Ether rose more than 10% for three days in a row to record highs
The ICE US dollar index (DXY), which tracks the exchange rate of a basket of six major currencies of the US dollar, approached 91.29 in the Asian midday session when it set a new daily high, up more than 0.1% during the day, European shares continued their downward movement after turning lower before the market, after the release of ISM data, US shares fell below 90.90 in early trading to set a new daily low, down more than 0.45% during the day, but there is still a distance from the new intraday low set since late February when it fell below 90.43 last Thursday .
By Monday’s U.S. stock market close, the dollar index was below 90.97, down more than 0.3% on the day; the Bloomberg Dollar Spot Index fell about 0.3%.
The offshore Chinese yuan (CNH), which just ended a two-day streak of gains, rebounded against the dollar to trade at 6.4707 yuan at 5:59 p.m. GMT on the 4th, up 28 pips from late Friday’s New York session, moving closer to the highest level in New York since June 18, 2018, set last Thursday.
CoinMarketCap data shows that mainstream cryptocurrencies mostly rose on Monday, with the second largest cryptocurrency by market capitalization after bitcoin, ethereum (ETH), the best performer by the U.S. close, the third largest cryptocurrency, coinancoin (BNB), up more than 7%, the fifth largest cryptocurrency, dogcoin (DOGE), up nearly 7%, and Ripple (XRP), down just over 1% among the top five cryptocurrencies, down .
Ether continued the momentum of last weekend’s record high, the U.S. stock market at lunchtime, for the first time in history, broke through the $3,300 barrier, the highest rose above $3,340, up about 14% from the intra-day low, the U.S. stock market closed hovering at the $3,300 line, up about 11% in 24 hours, the last seven days cumulative rise of more than 30%.
Bitcoin (BTC) in the European shares in early trading had touched $59,000, after last Saturday and then hit a new high since April 18, up more than $2,000 compared to the intra-day low in early Asian trading, a percentage increase of more than 4%, then fell back, the U.S. shares lost the $58,000 mark, once below $57,300, the U.S. shares closed at $57,400 above, the recent 24-hour cumulative increase of about 1% .
Gold ends four-game losing streak, hits biggest gain in two weeks and new high in nearly two weeks Silver hits biggest gain in three months and new high in more than two months Palladium hits four new highs in six days
New York gold futures reversed a four-day losing streak, with COMEX June gold futures closing up 1.4% at $1,791.80 per ounce, a new closing high since April 21 and the biggest closing gain since April 16.
New York silver futures ended a three-day losing streak, with COMEX July silver futures closing up 4.2% at $26.96/oz, a new closing high since Feb. 25 and the biggest closing gain since Feb. 1. Spot silver also pushed toward the $27 mark during the session.
Other precious metals also rose, with platinum closing up 2% after two consecutive days of gains. Palladium rose for three days in a row, with NYMEX June palladium futures closing up 0.94% at $2,981.40 per ounce, closing at a new record high for the second day in a row, with record highs last Monday, Tuesday and Friday.
Crude oil rallies over 1%, nears six-week high
International crude oil futures, which only ended a three-day rally on Friday, rallied to close in on the six-week high set last Thursday.
WTI June crude oil futures closed up $0.91, or 1.40%, at $64.49/barrel; Brent July crude oil futures closed up $0.80, or 1.20%, at $67.56/barrel; erasing more than half of Friday’s losses.
U.S. oil and Brent oil closed down about 2.2% and 1.9%, respectively, on Friday, the biggest closing losses since April 5. But the full month of April as of Friday rose more than 7%, the first time this year recorded a cumulative monthly gain.
10-year German bond yields turned lower after hitting a 14-month high U.S. bond yields once fell 5 basis points
European and U.S. Treasury prices stopped falling and rose during the session on Monday. U.S. 10-year benchmark Treasury yields in the European stock market had risen above 1.65% to refresh the daily high, up about 3 basis points during the day, the U.S. stock market before the retraction of all gains turned down, after the release of ISM data, the U.S. stock market in early trading had been down to test 1.58% to refresh the last four trading day trough, down about 5 basis points during the day, the end of the morning re-up 1.61%, narrowing most of the decline.
By late New York, the 10-year U.S. bond yield was about 1.60%, down more than 2.8 basis points during the day, the yield on the 30-year U.S. bond fell about 3 basis points, the 5-year U.S. bond fell more than 4 basis points, and the 2-year U.S. bond was roughly unchanged from Friday’s level.
By the end of the European market, European government bond prices rose in general, yields retracted all the gains and turned down during the day.
German 10-year benchmark bond yields fell 0.2 basis points to -0.204% during the day, European shares had risen to -0.162% in early trading, refreshing the intraday high set last Thursday since March last year, up about 4 basis points during the day; Italian and Spanish government bond yields fell 3 and 2 basis points to 0.874% and 0.456%, respectively, Italian bond yields had risen above 0.94%, after last Thursday, hit a new high since September last year.
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