ADDX GO Market Morning Wrap - 22nd Mar

Stock Market

The three major US stock indices closed higher collectively. As of the close, the S&P 500 index rose 4.67 points, or 0.08%, to close at 5,667.56. The Dow Jones Industrial Average rose 32.03 points, or 0.08%, to close at 41,985.35. The Nasdaq Composite Index rose 92.43 points, or 0.52%, to close at 17,784.05.

This week, the Dow rose 1.2% cumulatively, the Nasdaq rose 0.17% cumulatively, and the S&P 500 index rose 0.51% cumulatively.

Most of the large technology stocks closed higher (arranged by market value): Apple rose 1.95%, Microsoft rose 1.14%, NVIDIA fell 0.7%, Amazon rose 0.65%, Google C rose 0.73%, Meta rose 1.75%, Broadcom rose 0.59%, and Tesla rose 5.27%.

The Sensex closed at 76,905.51, up 0.73%; the NIFTY 50 closed at 23,350.40, up 0.69%;the Nikkei 225 closed at 37,677.06, down 0.20%;the Hang Seng Index (HSI) closed at 23,689.72, down 2.19%;the Kuala Lumpur Composite Index (KLCI) closed at 1,505.45, up 0.09%;the Straits Times Index (STI) closed at 3,926.45, down 0.10%;the IDX Composite closed at 6,258.18, down 1.94%.

Key Events

Trump announced that Boeing will produce the sixth-generation fighter jet:US President Trump officially awarded the US Air Force's "Next Generation Air Dominance (NGAD)" project, that is, the contract for the US sixth-generation fighter jet project, to Boeing on March 21 local time.$BA
Trump and the US Secretary of Defense made a speech, saying that there will be a full ceasefire between Russia and Ukraine soon:US President Trump and Secretary of Defense Hegseth delivered a speech in the Oval Office of the White House on the 21st. Trump said that he believes that the United States has already reached a framework of an agreement with Russia and Ukraine, and there will be a full ceasefire in the Russia-Ukraine conflict soon.
Germany's trillion-euro fiscal stimulus is ready:On Friday local time, as the German Federal Council, which represents local governments, approved the amendment to the constitutional amendment with more than two-thirds of the votes in favor, Germany, the world's third-largest economy, has officially shifted from fiscal austerity over the past decade or so to a new historical cycle of actively expanding fiscal spending.

Forex & Commodities

The settlement price of international crude oil futures closed slightly higher. WTI crude oil for May rose 0.31%, and rose about 2% cumulatively this week; Brent crude oil for May rose 0.22%, and rose about 2.2% cumulatively this week.

The spot gold price is currently quoted at $3,023.31 per ounce, and it once fell below the $3,000 mark during the session.

COMEX gold futures fell 0.49% to $3,028.7 per ounce, up 0.92% cumulatively this week. COMEX silver futures fell 1.69% to $33.545 per ounce, down 2.56% cumulatively this week.

The US dollar index rose 0.23% on the day and closed at 104.089 at the end of the foreign exchange market.

Key Events

The President of the Federal Reserve Bank of New York and others reiterated the transitory inflation theory and downplayed the impact of tariffs on prices:Two Federal Reserve officials downplayed the impact of the recent increase in long-term inflation expectations on Friday but emphasized the high degree of uncertainty in the outlook. This statement is basically consistent with the remarks made by Federal Reserve Chairman Jerome Powell earlier this week.

Cryptocurrency

Bitcoin fell 0.3% to $83,967.

Ethereum (ETH-USD) fell 0.3% to $1,970.

XRP (XRP-USD) dropped 1.7%, BNB (BNB-USD) gained 1.1%, and Solana (SOL-USD) rose 0.1%.

Key Events

The US House of Representatives committee plans to promote landmark Stablecoin legislation as soon as possible:Sources said that the US House of Representatives committee plans to promote landmark Stablecoin legislation as soon as possible. Then, the Financial Services Subcommittee will review the bill on April 2.