U.S. CPI in March exceeded expectations for the fastest year-over-year growth rate of nearly three years, but this is partly affected by last year’s epidemic, reflecting the momentum of economic recovery, and mainly from energy, especially the rise in gasoline prices, is not seen as a long-term upward momentum of inflation, will not shake the Fed’s easing stance. After the release of the U.S. CPI, U.S. bond yields continued to move lower, the dollar index turned down, gold futures pulled up and turned up during the day.
Midday U.S. tender sale of $ 24 billion scale 30-year Treasury demand unexpectedly strong, the bid rate and subscription multiples are higher than the level of the same period in March Treasury tender sale, to dispel market concerns about the demand for ultra-long U.S. debt, 30-year U.S. bond tender sale, the secondary market U.S. bond yields accelerated downward, the rate of decline significantly expanded.
The three major U.S. stock indexes opened mixed, along with the decline in U.S. bond yields during the day, two of the three major U.S. stock indexes moved higher. After indicating that the data collected in China will be strictly local storage, Tesla rallied high, pushing the S&P and Nasdaq 100 to record highs. A number of leading technology stocks, including Apple, which announced a product launch on April 20, rallied to push the Nasdaq higher. The Dow continued to retreat, dragged down by IBM, Nike, Johnson & Johnson and other constituents. Growth stocks outperformed value stocks on Tuesday, showing that investors expect a quicker pickup in inflation is not enough to slow down the economic stimulus drive.
Although the U.S. temporarily suspended the Johnson & Johnson New Crown vaccine, which had a severe thrombotic reaction, comments said the U.S. is still expected to have sufficient supplies of the vaccine. Shares of Moderna, which developed a competing New Crown vaccine, were higher, and Pfizer shuddered to the upside.
Benefiting in part from a weaker dollar, industrial metals such as precious metals gold, silver and copper rallied across the board. Bitcoin rallied on Tuesday, rising above $63,000 for the first time in its history, ahead of Coinbase, the largest U.S. cryptocurrency exchange, officially landing on U.S. stocks this Wednesday.
Talks to restart the Iran nuclear deal were overshadowed by the Iranian Foreign Ministry’s claim that Iran will begin enriching uranium at 60 percent. Meanwhile, international crude oil futures continued to rise after OPEC’s latest monthly report raised its oil demand forecast for this year.
In European markets, benefiting from China’s March import and export surge, U.S. CPI inflation data did not appear to shake the threat of Fed easing, pan-European stock indexes and German stocks have rebounded, approaching and returning to record highs, respectively, the major European countries stock indexes, only suffering from bank stocks led by the Spanish stock index closed lower.
Component stocks Tesla to support the S&P and Nasdaq 100 record highs S&P financial sector led the decline against the market
The three major U.S. stock indexes performed differently on Tuesday, with the Dow Jones Industrial Average, the only one to open lower, performing the worst and the Nasdaq Composite Index, which held gains throughout the day, performing the best. The Dow opened down more than 20 points, down nearly 200 points at the beginning of the session when it set a new daily low. The Nasdaq opened nearly 0.4% higher and was up more than 0.8% in early trading. The S&P 500 index opened slightly higher than 3 points, and had a short decline at the beginning of the session, and has since maintained its upward trend, but even when hitting a new intraday high intraday gain of less than 0.2%.
The end of the three major indices climbed collectively, the Dow almost retracted all losses, the decline once narrowed to within 30 points, the S&P rose nearly 0.5%, the fourth consecutive trading day to hit a new intraday high, the Nasdaq since February 16 for the first time since the intraday rise above 14,000 points, a new intraday high in the past two months when the day rose more than 1.1%.
In the end, only the Dow closed lower in the three major indices. The S&P closed up 0.33% at 4141.59 points, the fourth day in the last five trading days to a new closing high. The Nasdaq closed up 1.05% at 13,996.10 points, a new closing high since Feb. 16. The Dow closed down 68.13 points, or 0.2%, at 33677.27, closing lower for the second consecutive day.
Small-cap stocks still failed to outperform the broader market, with the value-cap-dominated Russell 2000 index of small-cap stocks falling more than 1% intraday to close down 0.2%. The technology-heavy Nasdaq 100 index closed up 1.21%, leading the three major stock indexes, with record highs during the day and at the close.
The S&P 500’s 11 major sectors closed only four Tuesday, down more than 0.8% led by financial losses, essential consumer goods, health care and materials fell 0.5%, 0.4% and more than 0.1%, respectively. Up in the sector, up more than 1% of the defensive sector utilities lead, followed by about 1% of non-essential consumer goods and up more than 0.9% of information technology, the bottom of the rise is less than 0.1% of energy.
Dow components, IBM and Nike fell more than 2%; by the new crown vaccine in the United States was temporarily suspended by Johnson & Johnson fell more than 3% during the day, closing down more than 1%. While Johnson & Johnson’s vaccine rival Moderna had risen more than 9% during the day and closed up more than 7%, Pfizer had risen more than 1.8% in early trading, had turned down at lunchtime, and finally closed up 0.5%.
Leading technology stocks, the S&P 500 and Nasdaq 100 components of Tesla closed up 8.6% the best performance. FAANMG six major technology stocks rose during the day, only the midday session turned down Facebook a closed down, down nearly 0.6%, after announcing the date of this month’s new product launch, Apple’s midday gains expanded to more than 2%, closing up more than 2%, Microsoft rose 1%, Amazon rose 0.6%, Google parent company Alphabet rose more than 0.4%, and Nifty rose nearly 0.2%.
Following Bitcoin’s record high performance, blockchain concept stocks rose in tandem, with RIOT up 15%, bitcoin mining giant Kanan Technology up over 11%, OSTK up over 7% and MARA up nearly 2% among Chinese stocks.
Top Chinese stocks were mixed, with Chinese ETF KWEB up nearly 0.2%, while CQQQ fell 0.06%. Among individual stocks, the three new energy auto stocks rose generally, with Xiaopeng and Weilai rising more than 3% and Ideal Auto up more than 0.8%. Zhiya rose nearly 8%, Tiger rose more than 3%, Akiyay rose more than 2%, Beili Beili and Baidu rose more than 1%, Tencent U.S. shares rose nearly 0.9%, while Tiger Securities and Futu Securities fell more than 2%, and Alibaba fell nearly 0.9%.
After-hours media said Credit Suisse sold Aiki through a block trade, offering a range of $15.85 to $16.35, nearly 2% to 5% lower than Tuesday’s closing price, Aiki was down more than 4% after the bell.
In Europe, the pan-European stock index that just fell off its highs on Monday rebounded and approached record highs, led by retail that rose more than 1.5% and travel that rose nearly 1%, but the banking sector bucked the market. Major European stock indexes, only three consecutive days of losses in the Spanish stock index closed lower, German stocks back to highs.
The 10-year U.S. bond yield fell to a two-week low and briefly regained 1.70% before falling back 8 basis points
U.S. 10-year benchmark Treasury yields in the European shares before the market had briefly regained 1.70%, European shares continued to move down after the opening, the U.S. CPI release after the decline in the expansion of U.S. stocks before the market to give back all the gains turned down, the 30-year U.S. bond bid after further downward, U.S. stocks fell to 1.63% below midday, once approaching 1.62% to refresh the intraday low since March 25, down about 8 basis points from the high of the day.
By the time U.S. stocks closed, the 10-year U.S. bond yield was about 1.62%, down 4 basis points intraday; the 30-year U.S. bond yield was at 2.3%, down 3 basis points intraday; the 2-year U.S. bond yield was at 0.16%, down 1 basis point intraday. By the end of New York, the 10-year benchmark Treasury yield at 1.6145%, down more than 5 basis points during the day, the largest decline in yields of U.S. bonds of all terms, the second largest decline is the yield fell nearly 5 basis points of 7-year U.S. bonds, 30-year decline of nearly 4 basis points, 2-year decline of nearly 0.8 basis points.
European government bond prices were mixed on Tuesday, with the British bond rebounding from days of decline, yields rebounded slightly, and German bonds continued to fall. British 10-year benchmark Treasury yield fell 1 basis point to 0.779% during the day; German bond yields rose less than 1 basis point to -0.29% during the same period, at a high of nearly two weeks.
Dollar index hits three-week low, bitcoin and ethereum hit record highs
The ICE US Dollar Index (DXY), which tracks the exchange rate of a basket of six major currencies of the US dollar, dipped further on Monday, although it had risen above 92.30 in the Asian midday session to refresh its daily high, up 0.2% during the day, but the US CPI fell back significantly after the release of the US stocks during the European session, and US stocks turned lower before the market, and US stocks stayed down after the opening, once falling below 91.80 at the end of the session, refreshing last Thursday’s fall below 92.00 The new intraday low set since March 23, down more than 0.3% during the day.
By Tuesday’s close, the dollar index was below 91.82, down more than 0.3% on the day, while the Bloomberg Dollar Spot Index fell 0.2% to 1,139.10, a three-week low.
Mainstream cryptocurrencies were mostly higher on Tuesday. Bitcoin (BTC) rose above $63,000 for the first time in the history of the European midday session, the U.S. stock market opened further higher, once rose above $63,700 at lunchtime to set a new intraday high, up nearly $4,000 from the early Asian intraday low, a percentage gain of more than 6%, back below $63,000 at lunchtime, the U.S. stock market closed above $63,100, up more than 5% cumulatively in the last 24 hours.
Market value after bitcoin, the second largest cryptocurrency ethereum (ETH) also continued to rise on Tuesday, U.S. stocks broke through $ 2,300 at midday, the second consecutive day of record intraday highs, up more than 7% from the early Asian session of the intra-day low, U.S. stocks closed above $ 2,300, up more than 7% in 24 hours.
Crude oil hit a new high for more than a week in two consecutive days, up more than 1% intraday U.S. oil back on $60 for the first time in more than a week
International crude oil futures rose for a second straight day, with Brent crude and U.S. WTI crude both up more than 1 percent as they set new daily highs during the day. Commentary attributed this in part to OPEC’s upward revision of demand expectations.
Due to the massive economic stimulus and the prospect of vaccinations, OPEC raised its expected increase in oil demand this year by 100,000 barrels per day to 6 million barrels per day in its monthly report released on Tuesday, and raised its forecast for global GDP growth this year by 0.3 percentage points to 5.4 percent.
Finally, WTI May crude oil futures closed up $0.48, or 0.80%, at $60.18/barrel, the first time since April 1 to close above the $60 mark, the largest closing gain since April 6; Brent June crude oil futures closed up $0.39, or 0.61%, at $63.67/barrel, also a new high since April 1.
Gold, silver and copper ended two consecutive negative, out of a week of lows
London base metals futures rebounded on Tuesday after two consecutive days of collective losses. Copper, nickel, aluminum, zinc and tin all ended their two-day losing streak, with copper and tin both coming out of one-week lows, but copper failed to recover the $9,000 barrier for the third straight day. Nickel and zinc are off their one-week and one-month lows, respectively. Lead ended a three-day losing streak and hit a two-week high.
New York gold and silver futures both reversed two-day losing streaks. Gold futures turned up intraday after the release of higher-than-expected U.S. CPI inflation data, down more than 0.5% when European stocks set a new daily low before the bell, and up nearly 1% when U.S. stocks set a new daily high in early trading. Finally COMEX June gold futures closed up 0.9% at $1747.60 per ounce, off the closing low set on Monday since April 5. New York silver futures regained $25, closing up 2.25%, also out of the closing lows hit on Monday since April 5.
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