Trump and Becente dominate the market to "change their faces", US stocks rose sharply, Chinese general public strengthened, gold plunged more than 3% at a high level, and the US dollar rebounded

Source: Wall Street News

Under the optimistic expectations of US tariff negotiations, global trade tensions eased, and risk sentiment boosted the rebound of US stocks on Tuesday, with Chinese concept stocks surging. Trump claimed that he had no intention of firing Powell, further calming market tensions, and US stocks soared after hours. With the fading of risk aversion, gold, the Japanese yen, and the Swiss franc declined to varying degrees, while Bitcoin continued its upward trend from Monday.

According to the Global Times, Putin has for the first time hinted at his willingness to talk to Zelensky. When Putin was interviewed on Monday, he said that Russia has always been positive about any peace initiatives and hopes that the representatives of the Kiev regime can also view the issue in the same way. In addition, it is reported that US Treasury Secretary Bessent said at a closed-door investors' meeting on April 22 that the tariff deadlock is unsustainable and the situation is expected to ease in the near future.

After the US stock market closed, Trump said that although he was dissatisfied with the Federal Reserve's failure to cut interest rates more quickly, he had no intention of firing Federal Reserve Chairman Powell. After Trump's statement, the S&P 500 ETF rose 1% after hours, and Apple rose more than 2%.

With the global tensions easing, the US dollar rebounded to a new daily high, and US stocks rebounded on Tuesday. The three major stock indexes all rose by more than 2.5%. Among them, the Dow Jones Industrial Average soared, rising by more than 1,000 points in total. The S&P 500 Index and the Nasdaq Composite Index reached their highest levels of the day. The rebound of large technology stocks today almost erased yesterday's losses.

After hours, the yield on the 10-year US Treasury bond hit a new daily low, while the yield on the 2-year US Treasury bond rose to 3.82% due to weak auction demand. Gold dropped sharply after breaking through $3,500 per ounce, falling by more than 3% from its high. The Swiss franc fell by more than 1%. Bitcoin and crude oil rose due to the preference for risk sentiment. Bitcoin soared by nearly 5% and returned above $90,000.

On Tuesday, US stocks experienced a significant rebound, with the three major stock indexes all rising by more than 2.5%. 3M rose by more than 8%, leading the Dow Jones Industrial Average. Tesla closed up by more than 4%, initially falling and then rising after hours following the financial report. The financial industry sector led the rise among US industry ETFs, and large technology stocks recovered the previous day's decline. The China stock index closed up 3.7%. Pinduoduo, NIO, and Xpeng Motors rose by more than 4%.

The three major US stock indexes:

The S&P 500 Index closed up 129.56 points, or 2.51%, at 5,287.76 points.

The Dow Jones Industrial Average closed up 1,016.57 points, or 2.66%, at 39,186.98 points.

The Nasdaq Composite Index closed up 429.52 points, or 2.71%, at 16,300.42 points. The Nasdaq 100 Index closed up 468.11 points, or 2.63%, at 18,276.41 points.

The Russell 2000 Index closed up 2.71% at 1,890.28 points.

Industry ETFs:

The Financial Sector ETF closed up 3.31%, the Banking ETF rose 3.25%, the Regional Banking ETF rose 3.21%, and the Consumer Discretionary ETF and the Internet Stock Index ETF rose at least 3.1%.

The Biotechnology Index ETF rose 2.72%, the Energy Sector ETF rose 2.55%, and the Technology Sector ETF, the Global Technology Stock Index ETF, the Global Airlines ETF, and the Semiconductor ETF rose at least 2.17%.

"The Magnificent Seven" of technology stocks:

The index of the seven major US technology stocks (Magnificent 7) rose 2.84% to 133.54 points.

Tesla closed up 4.6%, Amazon rose 3.5%, Apple rose 3.41%, Meta Platforms rose 3.22%, Alphabet (Google A) rose 2.57%, Microsoft rose 2.14%, and NVIDIA rose 2.04%.

Chip stocks:

The Philadelphia Semiconductor Index closed up 2.14% at 3,832.05 points.

Taiwan Semiconductor Manufacturing Company (TSMC) ADR rose 2.39%, and Advanced Micro Devices (AMD) rose 0.82%.

AI concept stocks:

Applovin closed up 4.2%. Tempus AI rose 5.49%.

The China stock index soared:

The Nasdaq Golden Dragon China Index closed up 3.69% at 6,736.37 points.

Among the popular Chinese concept stocks, Zai Lab closed up 9.49%, Canadian Solar Inc. rose 7.79%, Yum China Holdings Inc. rose 7.39%, Qifu Technology Co., Ltd. rose 6.88%, Zeekr rose 6.42%, Alibaba Group Holding Limited rose 5.2%, and Tencent Music Entertainment Group rose 4.34%.

Among other key individual stocks:

The Class B shares of Berkshire Hathaway Inc. under Warren Buffett closed up 2.74%.

The "Trump Tariff Losers" index rose 3.52% to 79.45 points. Among its constituent stocks, 3M closed up 8.12%, Wayfair rose 6.32%, Five Below rose 4.98%, Coach (Tapestry) rose 2.75%, and Gap rose 2.1%.

Eli Lilly and Company rose 1.16%.

The Danish stock index closed down more than 4.3%, and the stock indexes of Germany, France, Italy, and the UK rose by at most more than 0.6%. The Euro Stoxx 50 index closed up more than 0.5%. L'Oréal, a luxury goods supplier, rose more than 6%, while Novo Nordisk A/S fell more than 7.4%.

Pan-European stocks:

The European STOXX 600 Index closed up 0.25% at 507.71 points.

The Euro Stoxx 50 Index closed up 0.53% at 4,961.45 points.

Stock indexes of various countries:

The German DAX 30 Index closed up 0.41% at 21,293.53 points.

The French CAC 40 Index closed up 0.56% at 7,326.47 points.

The UK's FTSE 100 Index closed up 0.64% at 8,328.60 points, the FTSE 250 Index closed down 0.06%, and the FTSE 350 Index closed up 0.56%.

Sectors and individual stocks:

In terms of sectors, the STOXX 600 Personal & Household Goods Index rose 1.75%, the Basic Resources Index rose 1.18%, the Automobiles & Parts Index rose 0.74%, and the Banks Index rose 0.73%.

Among the Eurozone blue-chip stocks, L'Oréal closed up 6.3%, Kering SA rose 3.31%, and Volkswagen AG rose 3.19%, ranking third in performance.

US Treasury bonds:

At the close in New York, the yield on the 10-year US Treasury bond fell 1.96 basis points to 4.3910%.

The yield on the 2-year US Treasury bond rose 5.04 basis points to 3.8106%.

European bonds:

At the close in the European market, the yield on the 10-year German Treasury bond fell 2.8 basis points to 2.443%, trading in the range of 2.480% - 2.435% during the day, and trending downward with overall fluctuations.

The yield on the 2-year German Treasury bond fell 2.4 basis points to 1.661%; the yield on the 30-year German Treasury bond fell 3.8 basis points to 2.859%.

The yield on the 10-year UK Treasury bond fell 2.7 basis points to 4.539%. The yield on the 10-year French Treasury bond fell 2.7 basis points to 3.213%.

The sovereign bond yields of Italy, Spain, and Greece all fell by more than 3.5 basis points.

US dollar:

At the close in New York, the ICE US Dollar Index rose 0.65% to 98.911 points.

The Bloomberg Dollar Index rose 0.41% to 1,221.10 points, trading in the range of 1,213.02 - 1,221.20 points during the day.

Non-US currencies:

At the close in New York, the euro fell 0.75% against the US dollar to 1.1420.

The British pound fell 0.35% against the US dollar to 1.3332.

The US dollar rose 1.25% against the Swiss franc to 0.81896.

Japanese yen:

At the close in New York, the US dollar rose 0.63% against the Japanese yen to 141.57 yen.

Offshore Chinese yuan:

At the close in New York, the offshore Chinese yuan was quoted at 7.3122 yuan against the US dollar, falling 188 points compared with the close in New York on Monday, and trading in the range of 7.2923 - 7.3212 yuan during the day.

Cryptocurrencies:

At the close in New York, spot Bitcoin soared 4.55% to 91,412.

Crude oil:

At the close in New York, WTI May crude oil futures closed up $1.23, or nearly 1.95%, at $64.31 per barrel.

Brent June crude oil futures closed at $67.44 per barrel.

Natural gas:

At the close in New York, NYMEX May natural gas futures closed down about 0.30% at $3.0070 per million British thermal units.

Gold prices fell 1%. After breaking through $3,500 and reaching a record high, investors took profits. The Philadelphia Gold and Silver Index closed down more than 1.7%.

Gold:

At the close in New York, spot gold fell 1.25% to $3,381.26 per ounce.

COMEX gold futures fell 1.06% to $3,389.00 per ounce.

Silver:

At the close in New York, spot silver fell 0.72% to $32.429 per ounce.

Copper:

At the close in New York, COMEX copper futures rose 2.37% to $4.8235 per pound.

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