The number of first-time jobless claims in the U.S. last week reached a new low since the outbreak of the crown epidemic, rekindling market optimism about the prospects for economic recovery. U.S. stocks rebounded led by technology-led sectors, with the three major indices reversing their three-day losing streak. European stocks also rebounded strongly, supported by technology stocks led by Nordic Semiconductor, a chip stock with rumored acquisition news. The dollar weakened and U.S. bond yields retreated, both retracing gains made after Wednesday’s release of minutes from the Federal Reserve meeting that explicitly mentioned for the first time that they would discuss exiting QE.
Among the new stocks, riding on the broad market rally and the emerging trend of plant-based food, Oatly, the first oat milk stock, rose more than 30% on its first day in the U.S., with a market value far higher than Beyond Meat, another major plant-based food hit that has been listed for two years.
Many popular mid-cap stocks outperformed the broader market, but Shell Housing had fallen nearly 10 percent early in the session after the company announced that founder and chairman Zuo Hui died on Thursday after an unexpected illness.
After Wednesday’s plunge, cryptocurrencies rebounded across the board, with double-digit gains during the day. Bitcoin once regained $40,000, but after news of the U.S. Treasury Department tightening tax regulations on cryptocurrencies, cryptocurrencies fell back en masse, with bitcoin once falling nearly $5,000 from its intraday high, giving back most of its intraday gains.
In commodities, the domestic black series decline eased from Wednesday, steel turned up overnight, most non-ferrous still down; Iran’s president said a new round of Iranian nuclear talks made significant progress, international crude oil futures turned down intraday, falling to at least a three-week low; most industrial metals such as copper rallied; gold continued to set new four-month highs supported by the dollar and U.S. bond yields moving down.
The three major indices rose for the first time this week, with the Nasdaq hitting a near two-week high. Tesla rose more than 4% to lead the leading technology stocks. Blockchain concept stocks rallied, with Oatly rising nearly 20% in its debut.
The three major U.S. stock indexes generally opened higher, all at the end of the day to set a new daily high, technology stocks to support the best performance of the Nasdaq Composite Index, up nearly 2% at the end of the day to set a new intraday high since May 10. The S&P 500 index rose nearly 1.4% at the end of the day. The Dow Jones Industrial Average had risen nearly 340 points during the day.
Finally, the three major indices closed up collectively for the first time this week, with the Nasdaq closing up 1.77% at 13535.74 points, a new closing high since May 7. The Dow closed up 188.11 points, or 0.55%, at 34084.15 points, and the S&P closed up 1.06% at 4159.12 points, both the highest closing level in the last three days, with the Dow coming out of the one-week low set on Wednesday.
Value stocks dominated the small-cap index Russell 2000 closed up 0.64% to end a two-day losing streak, but failed to outperform the broader market. The tech-heavy Nasdaq 100 closed up 1.94% to a two-week high, up two days in a row and continuing to outperform the broader market.
S&P 500 of the 11 sectors, Thursday only fell more than 0.1% of the energy a closed down, up nearly 1.9% of the information technology led the rise, showing that technology stocks to support the trend of the broader market, telecommunications services, real estate and health care are also up more than 1%, the bottom of the rise is less than 0.1% of the financial and up more than 0.2% of the industrial.
Leading technology stocks rose, up more than 4% of Tesla’s best performance, FAANMG six major technology stocks, Nifty and Apple rose more than 2% to lead, Facebook, Microsoft and Google parent company Alphabet rose more than 1%, Amazon rose nearly 0.5%.
Chip stocks continue to lead in technology stocks, semiconductor sector ETF SOXX rose more than 2.6%, applied materials, Nvidia rose more than 4%, the Dow component Intel rose more than 1%.
Bitcoin-driven, blockchain concept stocks rallied collectively, with Coinbase (COIN), the first stock of cryptocurrency exchanges that fell nearly 6% on Wednesday, up nearly 3.9%, and Overstock (OSTK) also rose more than 3%. Among companies that hold or support bitcoin payments, MicroStrategy (MSTR), which fell more than 6% on Wednesday, rose nearly 4%, while Square (SQ) and Paypal (PYPL) rose more than 2%.
In addition to Tesla, all three mid-cap electric car stocks were also higher. Xiaopeng Auto rose over 4%, Ideal Auto rose over 3%, and Azera rose over 2%. In addition, shares of Ford Motor rose more than 3% after it announced plans to build a joint venture in the U.S. to produce batteries for electric vehicles.
Among the IPOs, oat milk giant Oatly opened up 30% on its first day of trading and had risen over 33% during the day, closing up nearly 19%, with a market cap of nearly $12 billion as of the close, far exceeding Beyond Meat’s market cap of nearly $6.8 billion.
A number of popular Chinese rose sharply, with Chinese ETF KWEB up nearly 1.9% and CQQQ up more than 0.6%. NetEase Youdao rose nearly 15%, Doodle Smart and NetEase rose nearly 8%, Jingdong, Akiyip, Xiaopeng Auto and Tencent Music rose over 4%, Predo and Tucson Future rose over 3%, Alibaba rose over 2%, but Tencent ADR fell nearly 2%, and Shell House Hunters (BEKE) closed down nearly 0.9%.
In Europe, the pan-European and German stock indexes both rose more than 1%, the largest gain since May 5. Among the sectors, technology, up 2.7%, led the way. Among individual stocks, Nordic Semiconductor, the Nordic chip giant, surged nearly 10% to lead gains among the Stoxx 600 constituents after media said its peer STMicroelectronics mulled a takeover offer.
Dollar index nears two-and-a-half-month low Bitcoin once fell nearly $5,000 after re-entering $40,000
The ICE U.S. Dollar Index (DXY), which tracks the exchange rate of a basket of six major U.S. dollar currencies, continued its downward slide as U.S. stocks fell below 89.80 at midday, approaching the trough set on Tuesday when it fell below 89.70 since late February of this year.
By the end of the week U.S. stocks were below 89.80, down nearly 0.5% on the day; the Bloomberg Dollar Spot Index fell 0.4%, giving back most of the gains made after Wednesday’s release of minutes from the Federal Reserve meeting that mentioned discussion of QE tapering.
Bitcoin (BTC) in the early Asian market once fell to $ 35,000 to refresh the daily low, since then continued to rebound, the U.S. stock market before the day once tested $ 43,000 to refresh the daily high, compared with the intra-day low rose more than $ 7,000, some platforms up to $ 8,000, the percentage increase of at least 21% or more, up at least 13% in 24 hours, after the news of the United States to strengthen tax regulation, the coin price short dive, the Once fell below $38,300,000, down more than $4,700 from the day’s high, retracting most of the day’s gains, the U.S. stock closed at $40,000 above, the last 24 hours cumulative rise of more than 2%.
The second largest cryptocurrency after bitcoin market capitalization Ether (ETH) in the early Asian market when the new daily low some platforms fell below $ 2160, the U.S. stocks before the day when the new daily high touched $ 3,000, up nearly 39% from the intraday low, the U.S. tax regulation news once fell below $ 2,600, down nearly 14% from the intraday high, the U.S. stocks closed above $ 2,800, up more than 24 hours 6%.
CoinMarketCap data shows that mainstream cryptocurrencies rallied across the board on Thursday, and by the close of U.S. stocks, Cardano (ADA), the fifth largest cryptocurrency by market capitalization, rose more than 10% in the last 24 hours, Dogcoin (DOGE), the seventh largest cryptocurrency, rose nearly 9%, and Litecoin (LTC), the 13th largest cryptocurrency, rose more than 3%, and the third, sixth and tenth largest cryptocurrencies, Coin On Coin ( BNB), Ripple (XRP) and Bitcoin Cash (BCH) are up more than 1%.
Domestic coking coal fell nearly 5% overnight after falling, steel rebounded overnight, and foreign crude oil fell more than 2% to at least a new low of more than three weeks
Wednesday’s plunge in the domestic black system continued to sink during the day, but the overnight steel class rebounded and coal class losses narrowed. Daytime power coal, coking coal, hot coils in early trading have touched down, Zheng coal, coking coal closed sealed down, power coal closed down 8%, iron ore closed down 5.7%, coke, threads, hot coils fell more than 4%. Overnight power coal fell more than 6%, coking coal fell nearly 5%, coke fell more than 2%, iron ore fell 0.3%, while threads rose 0.66%, hot coils, stainless steel rose more than 1%.
After Iran released signals of progress in Iranian nuclear talks, international crude oil futures turned down in the European stock market and have since shaken to the downside, closing down for the third consecutive day, but the decline eased slightly from Wednesday.
U.S. WTI June crude oil futures closed down 2.07% at $62.05/barrel, a new low since April 26; Brent July crude oil futures closed down 2.32% at $65.11/barrel, a new low for the main contract closing since April 13, and both U.S. oil and Brent oil closed at a new low since April 27 on Wednesday, closing down around 3% again after last Thursday.
Gold four hit a new high of more than four months and six consecutive positive record the longest streak this year
New York gold futures rose for six consecutive trading days, COMEX June gold futures closed up 0.02% at $1881.90 per ounce, four consecutive days since January 7, the main contract closed at a new high, and the longest streak of rising days since January 5.
New York silver and platinum futures both rallied, with silver futures closing up 0.15 percent, moving closer to the closing high set on Tuesday since February, closing above $28 for the fourth consecutive day. Platinum closed up 0.28%, coming off the low hit on Wednesday since April 29. Palladium fell for a second straight day.
Copper rebounded out of a two-week trough, while copper remained down and nickel and aluminum hit a three-week low.
Domestic non-ferrous metals mostly continued to move lower on Thursday, with Shanghai copper closing down 0.05%, Shanghai aluminum down 1.86%, Shanghai nickel down 1.42%, Shanghai tin down 0.15%, while Shanghai zinc closed up 0.16% and Shanghai lead up 1.26% in the overnight session.
London base metal futures mostly rebounded on Thursday, with only aluminum and nickel continuing to close lower. Copper broke out of a two-week low set by Wednesday’s close of slightly above $10,000, closing above $10,000 for the 12th consecutive session. Lunyuan nickel and Lunyuan aluminum fell for two and three days, respectively, and hit a new three-week low.
European bonds mostly turned up intraday with 10-year U.S. bond yields dropping 4 basis points
Most European government bond prices turned up during the session, only the German bond eventually still fell slightly, the yield of the marginal zone countries’ government bonds fell in front. British 10-year benchmark government bond yields fell 0.9 basis points to 0.839% during the day; German bund yields rose 0.1 basis points to -0.109% during the same period. The yields of Italian and Greek government bonds fell by about 6 basis points over the same period, while Spanish government bonds fell by more than 3 basis points and French government bonds fell by 2 basis points.
U.S. 10-year benchmark Treasury yields continued to fall, the U.S. stocks fell to 1.63% below the lunchtime to refresh the daily low, to the U.S. stocks closed at about 1.63%, down 4 basis points during the day, all back to the Fed minutes release day on Wednesday all the gains.
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