German stock index hit a record high, compared with European stocks most expensive since 2009, the three major U.S. stock index futures rose and fell inconsistently, and Ethereum rose nearly 14% during the day

Source: Wall Street News

On Friday, the market was cautiously optimistic about the tariff trade negotiations. The three major U.S. stock index futures showed mixed trends. The German DAX index hit a record high. The yield on U.S. Treasuries slightly decreased. The price of gold ended its two-day consecutive decline. The stock markets of Japan and Taiwan closed higher. Bitcoin soared to its highest level since January. After the escalation of hostilities between India and Pakistan, the Indian stock and bond markets continued their downward trend.

After the UK and the US reached an agreement on the tariff deal yesterday, Germany said today that Trump and Merz agreed that a trade deal needs to be reached quickly. Japan's chief trade negotiator also said that Japan and the US have agreed to strive to reach an agreement as soon as possible. China and the US will hold tariff negotiations in Switzerland on Saturday.

According to previous reports by CCTV News, from May 9th to 12th, Vice Premier He Lifeng of the State Council will visit Switzerland and hold talks with Swiss leaders and relevant parties. During his visit to Switzerland, as China's lead in Sino-US economic and trade affairs, Vice Premier He Lifeng will hold talks with US Treasury Secretary Bessent, the US lead.

Here are the main market trends:

European stocks rose: The German DAX index rose 0.6%, hitting a record high.

The three major U.S. stock index futures showed mixed trends: The Nasdaq 100 index futures rose 0.24%, and the Dow Jones Industrial Average futures fell 0.12%.

Cryptocurrencies soared: Bitcoin rose to its highest level since January, and Ethereum soared nearly 14% during the day.

New Taiwan Dollar: This week, the exchange rate of the New Taiwan Dollar against the currencies of major trading partners soared to a historical high, with the possibility of breaking through the level closely monitored by the central bank.

Stock markets in India and Pakistan declined: The Indian stock index Nifty fell 1.4% in pre-market trading, and the Pakistan KSE-100 index fell 0.2%.

The Japanese stock market closed higher: The Nikkei 225 index closed up 1.6%, and the TOPIX index closed up 1.3%.

Ethereum soared nearly 14% during the day, reaching $2,486 per coin, with a 24-hour increase of nearly 29%, the largest single-day increase since May 2021.

The significant previous pullback combined with the latest Pectra upgrade has revived the optimism in the cryptocurrency field. On Tuesday, Ethereum carried out its largest update since the merger in 2022. Its code changes have improved the staking efficiency, validator operation, and scalability of Layer 2 solutions, further increasing the attractiveness of Ethereum.

The euro against the U.S. dollar had little short-term volatility, currently quoted at 1.1248. It is reported that Merz has informed Trump that he supports a zero-tariff trade agreement.

Before the U.S. stock market opened, Taiwan Semiconductor Manufacturing Company (TSMC) rose about 2%. TSMC's revenue in April continued to accelerate, surging 48.1% year-on-year. Coinbase fell about 2% as the company's first-quarter earnings report missed expectations. Most Chinese concept stocks declined, with Li Auto falling about 2%.

The three major U.S. stock index futures showed mixed trends. The Nasdaq 100 index futures rose 0.24%, and the Dow Jones Industrial Average futures fell 0.12%.

Cryptocurrencies rose. Ethereum rose more than 8% during the day, quoted at $2,375 per coin; Bitcoin rose more than 1%, quoted at $104,041 per coin.

The German DAX index rose 0.6%, hitting a record high. The French CAC40 index rose 0.76%, and the Euro Stoxx 50 rose 0.43%.

The German index has become so popular among investors that it is now relatively expensive, and its premium relative to its European peers has reached its highest level since 2009.

Bitcoin jumped to its highest level since January, currently quoted at $103,406. Spot gold rebounded, quoted at $3,328 per ounce.

The conflict between India and Pakistan continued. The Indian stock and bond markets continued their downward trend. The Indian stock index Nifty fell 1.4% in pre-market trading. The yield on India's 10-year government bonds rose 4 basis points to 6.44%.

The Pakistan KSE-100 index fell 0.2%, after rising 3.2% at one point.

The Nikkei 225 index closed up 1.6%, at 37,503.33 points. The TOPIX index closed up 1.3%, at 2,733.49 points.

The Taiwan Stock Exchange Weighted Index closed up 1.8%, at 20,915.04 points. TSMC rose 3.4%.

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