Stock Market
At the close, the Dow Jones Industrial Average rose 383.32 points, or 0.92%, to 41,964.63; the Nasdaq Composite Index rose 246.67 points, or 1.41%, to 17,750.79; and the S&P 500 Index rose 60.63 points, or 1.08%, to 5,675.29.
The Sensex index in India closed at 75,449.05, up 0.20%, and the NIFTY 50 index closed at 22,907.60, up 0.32%. Japan's Nikkei 225 index closed at 37,751.88, down 0.25%. The Tokyo Stock Exchange is closed today for the Vernal Equinox Day.
Hong Kong's Hang Seng Index (HSI) closed at 24,771.14, up 0.12%. Malaysia's KLCI index closed at 1,517.66, down 0.66%. Singapore's STI index closed at 3,908.310, up 0.34%. The IDX Composite index in Indonesia closed at 6,311.66, up 1.42%.
Turkey experienced a "triple kill" in stocks, bonds, and foreign exchange. The BIST 100 index fell nearly 9% to 9,860.29.
Key Events
- The Federal Reserve keeps the target range for the federal funds rate at 4.25%-4.5%, in line with expectations:The Federal Reserve of the United States ended its two - day monetary policy meeting and announced that it would maintain the target range for the federal funds rate between 4.25% and 4.50%, which met expectations.
- Fed dot - plot:Two rate cuts are expected in 2025:The Fed dot - plot shows that two rate cuts are expected in 2025, the same as the projection in December last year. The median forecast indicates that interest rates will be cut by 50 basis points to 3.9% in 2025, and another 50 - basis - point cut is expected in 2026.
- Huang Renxun: AI spending is shifting beyond the cloud:Jensen Huang, CEO of NVIDIA, said he is confident in improving profit margins. AI spending is shifting beyond the cloud, and cloud providers will continue to invest in AI.
Forex & Commodities
The ICE U.S. Dollar Index rose 0.21%, and the Bloomberg Dollar Index rose 0.22% to 1,264.38.
International gold prices closed higher. COMEX gold futures rose 0.4 dollars per ounce, or 0.01%, to 3,041.2 dollars per ounce, reaching a new all - time high. Spot gold broke through 3,050 dollars per ounce, also hitting a new all - time high.
International oil prices rose on the 19th. At the close of the day, the price of light crude oil futures on the New York Mercantile Exchange rose 16 cents to close at $66.91 per barrel, an increase of 0.24%; the price of London Brent crude oil futures rose 20 cents to close at $70.32 per barrel, an increase of 0.29%.
Key Events
- After export - rush driven by tariff threats, Canadian oil exports to the US hit a two - year low:Earlier this year, in order to complete exports before the tariff threats by US President Trump, a large amount of Canadian crude oil poured into the US, leading to a sharp drop in local inventories. Now, the scale of US oil imports from Canada is significantly declining. Preliminary data from the US Energy Information Administration shows that last week, the scale of US crude oil imports from Canada dropped to 3.13 million barrels per day, hitting the lowest level since March 2023.
Cryptocurrency
At the New York market close, Bitcoin rose 4.51% at the end of trading to $85,940.00, and then hit a daily high of $86,145.00.
Ethereum rose 7.40% at the end of trading to $2,046.00, and then hit a daily high of $1,911.00.
Key Events
- SEC ends legal battle with Ripple:The U.S. Securities and Exchange Commission (SEC) has decided to drop its appeal against Ripple, a leading provider of digital asset infrastructure. This news was released by Brad Garlinghouse, CEO of Ripple, on the X platform. He called this decision a major victory for the company and the broader cryptocurrency industry.
Market Events and Most Anticipated Earnings Releases
