Technology stocks support higher stocks in Europe and the United States

Bitcoin and other cryptocurrencies rebounded strongly after experiencing a weekend selloff. After Tesla CEO Musk revealed consultations with North American bitcoin mining agencies to promote renewable energy applications, bitcoin once approached the $40,000 mark intraday, up more than $6,000 from its intraday low, and the intraday gains of many mainstream cryptocurrencies extended to more than 30%.

European and U.S. stock markets were unaffected by the cryptocurrency shakeout. Optimistic expectations for a return to work temporarily overwhelmed concerns about rising inflation. Technology stocks, which pressured European and U.S. stocks on Friday, were the leaders of Monday’s broad upside, with European stocks generally rising led by travel and technology stocks, pan-European stock indexes within striking distance of all-time highs, and U.S. stocks opening higher led by technology and telecom stocks.

Fed Governor Lael Brainard, Atlanta Fed President Bostic and St. Louis Fed President Bullard all said they would not be surprised by price increases pushed up by supply shortages and bottlenecks in the coming months, but that most of the price increases were temporary. U.S. Treasury yields continued to fall, with the 10-year U.S. bond yield falling below 1.60% intraday for the first time in two weeks.

China’s Development and Reform Commission and five other departments jointly interviewed key enterprises with strong market influence in the bulk commodity industry, such as iron ore, copper and aluminum, and most domestic commodity futures closed lower during the day, with iron ore once down more than 9%, but some non-ferrous metals such as black and copper rebounded to close higher in the overnight session.

International crude oil continued to rise. Iran and the U.N. watchdog International Atomic Energy Agency decided to extend Iran’s monitoring deal for one month. The market is more optimistic about vaccination-driven demand growth and expects that the oil market can absorb the additional crude oil supply from Iran even if the sanctions imposed on Iran are lifted. Goldman Sachs believes that even if Iran may increase crude oil exports, the aftermath of the oil price rise is intact. Brewery oil could rise to $80 per barrel this summer.

Precious metals mostly rallied, thanks to the dollar’s dip to a near March low and lower U.S. bond yields, with gold rebounding to a new four-plus-month high. But palladium continued to fall.

Three major stock indexes hit at least two-week highs with the Nasdaq up more than 1% to lead the telecom and IT sectors leading the S&P Tesla up more than 4% to lead the leading tech stocks

The three major U.S. stock indexes collectively opened higher, with technology stocks leading the Nasdaq Composite Index performing best, up more than 1% at midday and the S&P 500 Index, with the Dow Jones Industrial Average hitting a new intraday high at midday since May 11, up more than 260 points during the day.

Eventually, the three major indices closed up again collectively after last Thursday. The NASDAQ closed up 1.41% at 13,661.17 points, and the S&P closed up 0.99% at 4,197.05 points, both hitting new closing highs since May 7. The Dow closed up 186.14 points, or 0.54%, at 34,393.98 points, a new closing high since May 10, closing up for the second consecutive day.

Value stocks dominated the small-cap index Russell 2000 closed up 0.54%, underperforming the broader market. The technology-heavy Nasdaq 100 closed up 1.72%, continuing to outperform the broader market.

Among the 11 major sectors of the S&P 500, only the non-essential consumer goods, which fell nearly 0.6% on Monday, and the essential consumer goods, which were down slightly, closed lower. Up in the sector, up more than 1.8% of telecommunications services and up nearly 1.8% of information technology led, up about 1% of health care, real estate and energy rose to the top, the bottom of the rise was up more than 0.4% of industrial and up more than 0.5% of utilities.

Leading technology stocks, up more than 4% of Tesla’s best performance. FAANMG six major technology stocks, up more than 2.9% of Google’s parent company Alphabet led, Facebook, Microsoft rose more than 2%, Apple, Amazon, Nifty rose more than 1%.

Chip stocks in general, the semiconductor sector ETF SOXX rose more than 2%, Chiken Optoelectronics rose more than 10%, Nvidia rose more than 4%, TSMC and the Dow component Intel rose more than 1%.

Popular Chinese stocks rose and fell, new energy auto stocks rose in general, nine purple new energy rose over 21%, Azure car rose over 5%, Xiaopeng car, ideal car rose over 1%; many education stocks recorded over 10% decline, Midland International Education fell 32%, 51Talk fell over 19%, New Oriental fell over 18%, Good Future fell over 17%, High Way fell over 12%, Netease Youdao fell over 9%. three BAT giants Tencent ADR rose more than 1%, Baidu and Alibaba fell about 0.3%.

Pan-European stock index rose for three days in a row, with the Euro Stoxx 600 hitting its last all-time high, just 0.32 points shy of the all-time closing high set on May 10. Travel and technology sectors led the gains, while basic resources, where mining stocks are located, continued to fall against the market. With the exception of Italian stocks, which were dragged down by the sell-off after a number of dividends, all other major European stock indices closed higher, with British stocks rebounding, French and Western stocks rising for the third day in a row, and German stocks closed for the day.

The U.S. dollar index is nearing a nearly three-month low, and many cryptocurrencies are up at least 20 percent, with bitcoin once approaching $40,000.

The ICE Dollar Index (DXY), which tracks the exchange rate of a basket of six major U.S. dollar currencies, has remained down since the Asian midday session when it turned lower, and U.S. stocks had fallen below 89.80 in early trading to set a new daily low, approaching the intraday low set since late February when it fell below 89.70 on Friday, down nearly 0.3% during the day.

By Monday’s U.S. stock market close, the dollar index was below 89.90, down more than 0.2% on the day; the Bloomberg Dollar Spot Index was down 0.2%.

Bitcoin (BTC) in the U.S. Eastern time on Sunday, Beijing time in the early hours of Monday had fallen below $ 32,000, approaching the four-month intraday low set by last Wednesday’s close to the $30,000 mark, compared with the intra-day high fell more than $ 6,000, since then continued to rebound, the U.S. stocks late in the day had a short approaching $ 40,000 mark to refresh the three-day high, compared with the intra-day low back up more than $ 6,000, 24 hours up once to 20%, the U.S. stock closed at $39,700,000 above, the recent 24-hour cumulative rise of nearly 18%.

Ether (ETH), the second largest cryptocurrency after Bitcoin in terms of market capitalization, had fallen below $1,800 on Sunday EST, hitting a new intraday low since late March, down nearly 40% from the intraday high, and on Monday it was on its way up, regaining $2,600 at midday on U.S. stocks, up more than 40% from the intraday low, and closing above $2,600 on U.S. stocks, up more than 30% in 24 hours.

CoinMarketCap data shows that mainstream cryptocurrencies rose sharply on Monday, by the end of the U.S. stock market, the market capitalization of the fourth largest cryptocurrency coin (BNB) recently 24 hours cumulative rise of more than 40%, the 13th largest cryptocurrency Litecoin (LTC), the 12th largest cryptocurrency Bitcoin Cash (BCH), the fifth largest cryptocurrency Cardano (ADA) are up more than 30%. The seventh largest cryptocurrency Ripple (XRP) rose nearly 30%, and the sixth largest cryptocurrency Dogcoin (DOGE) rose more than 20%.

The 10-year U.S. bond yield fell below 1.60% intraday for the first time in two weeks

European government bond prices continued to rise across the board, with British and French government bonds rising for four consecutive days, with the top yield declines still coming from countries in the margins. British 10-year benchmark government bond yields fell 2 basis points to 0.811% during the day; German government bond yields fell 1 basis point to -0.14% during the same period. Greek bond yields fell by more than 2 basis points over the same period.

U.S. 10-year benchmark Treasury yields remained down on Monday, the U.S. stocks fell below 1.60% in early trading, refreshing the intraday lows since May 11, rallied at lunchtime, to nearly 1.61% at the close of the U.S. stocks, down 1 basis point during the day.

The domestic black system rebounded collectively overnight Crude oil closed up more than 3% for the first time in more than five weeks U.S. oil hit a new one-week high

Domestic black system daytime plunge, iron ore once fell more than 9%, closing down more than 5%, hot coils, wire rod, thread closed down more than 3%, overnight coking coal rose more than 3%, coke rose 1.85%, power coal rose 1.47%; thread, iron ore rose 0.3%, stainless steel rose 0.4%, hot coils fell 0.19%.

After coming out of at least a three-week low on Friday, international crude oil futures rose for a second consecutive session, rising to about a week high.

U.S. WTI July crude oil futures closed up 3.88% at $66.05/barrel, a new closing high for the main contract since May 17; Brent July crude oil futures closed up 3.04% at $68.46/barrel, a new closing high since May 18; both hit the largest closing gain since April 14, but also the first time since April 14 closed up more than 3%.

Domestic Shanghai copper and other non-ferrous metals rebounded, copper out of the month trough but failed to regain on 10,000 U.S. dollars

Domestic non-ferrous metals day all down, Shanghai aluminum closed down 3.5%, Shanghai nickel fell 1.8%, Shanghai lead fell 1.7%, Shanghai copper closed down 1.6%, Shanghai tin fell 1.4%, Shanghai zinc fell 1%; night trading mixed, night trading Shanghai copper closed up 0.59%, Shanghai zinc closed up 0.07%, Shanghai nickel closed up 1.66%, Shanghai tin closed up 0.25%, while Shanghai lead closed down 1.61%, Shanghai aluminum closed down 0.22%.

London base metal futures were mixed on Monday. Copper came out of the trough hit on Friday since April 30, but failed to regain the $10,000 mark, closing at $9,947 per ton, closing below $10,000 for the second consecutive day. Nickel and aluminum ended their three-day and four-day losing streaks, respectively, and broke out of their four-week lows. Zinc ended a two-day streak of gains, while lead and tin fell for two consecutive days, hitting new lows of more than three weeks and one week, respectively.

Gold recently hit a new high of more than four months in six days and five days

New York gold, silver and platinum futures all rebounded, COMEX June gold futures closed up 0.4% at $1884.50 per ounce, a new closing high for the main contract since January 7. As of last Thursday, gold futures closed at a new high for the fourth consecutive day since Jan. 7, and the longest streak of rising days since Jan. 5.

New York silver futures, which closed down 2% on Friday, closed up 1.52%, coming off a one-week low hit on Friday. Platinum futures closed up 0.7%, breaking out of the April 13 trough hit on Friday. But palladium fell for a fourth straight day, with NYMEX June palladium futures closing below $2,730, a new low for the second consecutive day since March 31.