ADDX GO Market Morning Wrap - 15th Mar
Stock Market
As of the close of the day, the Dow Jones Industrial Average rose 674.62 points from the previous trading day, closing at 41,488.19 points, with a gain of 1.65%; the S&P 500 stock index rose 117.42 points, closing at 5,638.94 points, with a gain of 2.13%; the Nasdaq Composite Index rose 451.08 points, closing at 17,754.09 points, with a gain of 2.61%. This week, the Dow fell 3.07% cumulatively, the Nasdaq fell 2.43% cumulatively, and the S&P 500 index fell 2.27% cumulatively. The Nasdaq and S&P have experienced four consecutive weekly declines.
Most large technology stocks rose. Tesla (with eight consecutive weekly declines), and Netflix rose by more than 3%. Meta, Microsoft, and Amazon rose by more than 2%, and Apple and Google rose by more than 1%. Chip stocks all rose. Micron Technology rose by more than 6%, and Nvidia and ARM rose by more than 5%. United Microelectronics, GlobalFoundries, Qualcomm, and Taiwan Semiconductor Manufacturing Company followed suit.
Key Events
Trump: The United States and Russia had "productive" discussions on resolving the Russia-Ukraine conflict:On Friday, March 14 (local time), US President Trump posted on his social media that the United States and Russia had "very good and productive" discussions, and there is a high possibility that the Russia-Ukraine conflict will eventually end. The Kremlin responded that there is reason to be "cautiously optimistic" about resolving the conflict.
Apple's Siri Head Calls AI Delay "Terrible" and Promises to Fix It:Apple's Siri virtual assistant team is facing delays and embarrassments caused by the postponed release of key features, which were publicly promoted before they were ready.$AAPL
Carney Sworn in as Prime Minister of Canada, Facing the Pressure of Trump's Tariff War:On the morning of Friday, March 14 (local time), Mark Carney, the newly elected leader of the Canadian Liberal Party, was sworn in as the 24th Prime Minister of Canada. Next, he will replace Justin Trudeau and directly face the tariff war launched by US President Trump.
Forex & Commodities
The settlement price of WTI crude oil futures rose 0.94% to $67.18 per barrel, with a cumulative increase of 0.2% this week. The settlement price of Brent crude oil futures rose 1% to $70.58 per barrel, with a cumulative increase of 0.31% this week.
COMEX gold futures closed up 0.08% at $2,993.6 per ounce, with a cumulative increase of 2.6% this week; COMEX silver futures closed up 0.17% at $34.365 per ounce, with a cumulative increase of 4.41% this week.
The spot gold price once broke through the $3,000 per ounce mark during the day, setting a new record high and a new round-number milestone.
At the close in New York, the US dollar index fell 0.1% to 103.7368, down 0.15% for the week. Non-US currencies were mixed. The euro rose 0.26% against the US dollar to 1.088, up 0.43% for the week; the British pound fell 0.14% against the US dollar to 1.2935, up 0.10% for the week; the Australian dollar rose 0.68% against the US dollar to 0.6326, up 0.3% for the week.
Key Events
Trudeau Formally Resigns and No Longer Serves as Prime Minister of Canada:Canadian Prime Minister Justin Trudeau formally submitted his resignation to Governor General Mary Simon on March 14 (local time) and no longer serves as Prime Minister of Canada. It is reported that Trudeau did not make a public appearance.
Carney Sworn in as the 24th Prime Minister of Canada:On the morning of March 14 (local time), and tonight Beijing time, Mark Carney, the newly elected leader of Canada's ruling Liberal Party, was sworn in as the 24th Prime Minister of Canada to replace Justin Trudeau, who has been in power for more than 9 years. Governor General Mary Simon presided over the swearing-in ceremony at Rideau Hall.
Cryptocurrency
Major digital assets were higher in the late afternoon on Friday, with Bitcoin (BTC-USD) surpassing the $84,000 level.
Ethereum (ETH-USD), the second-largest digital asset by market value, jumped 4.9% to $1,933.
XRP (XRP-USD) soared 5.2%, BNB (BNB-USD) added 2.1%, and Solana (SOL-USD) jumped 10.4%.
Key Events
Wall Street Expects Bitcoin to Weaken Further in March and Rebound in the Second Quarter: Christopher Harvey, a stock analyst at Wells Fargo, believes that Bitcoin has been tracking the inverted US dollar index with a lag of about 10 weeks. The current decline in Bitcoin is a response to the strong US dollar environment in the fourth quarter. The US dollar index reached a high on January 13. Therefore, the current weak US dollar environment may be more favorable for the future trend of cryptocurrency assets.