ADDX GO Market Morning Wrap - 1st Apr
Stock Market
The three major US stock indices showed mixed performances. The Dow Jones Industrial Average and the S&P 500 Index ended their three - consecutive - day losing streak.
As of the close, the Dow Jones Industrial Average rose by 1%, It had a cumulative decline of 4.2% in March and a cumulative decline of 1.28% in the first quarter. The S&P 500 Index rose by 0.55%, It had a cumulative decline of 5.75% in March. The Nasdaq Composite Index fell by 0.14%, It had a cumulative decline of 8.21% in March.
Key Events
- White House: Trump to Decide on Final Tariff Policy on April 2:This week, several senior economic advisors to US President Trump proposed a plan to implement new reciprocal tariffs to him. According to the White House, Trump will make a decision and announce the details of the relevant tariff policy on April 2.
- The US automotive manufacturing industry is seeking to exclude some auto parts from tariffs:According to sources familiar with the matter, US automakers are lobbying the Trump administration to exclude certain auto parts from tariffs as part of their last - ditch efforts before the tariffs take effect this week.
- Tesla Rome Store Burned Down, Musk: Terrorism:On Monday, Tesla CEO Elon Musk said that a night - time fire at a Tesla (TSLA.O) dealership in Rome was an act of terrorism. The incident resulted in 17 cars being burned.$TSLA
Forex & Commodities
International oil prices soared on March 31.
As of the close of the day, the price of light crude oil futures on the New York Mercantile Exchange rose by $2.12 to close at $71.48 per barrel, a gain of 3.06%. The price of Brent crude oil futures in London rose by $2.01 to close at $74.77 per barrel, a gain of 2.76%.
Both spot and futures gold prices hit new highs. The settlement price of COMEX gold futures rose by $36, a gain of 1.16%, to $3,150.30 per ounce.
In late - trading in New York, the US Dollar Index rose by 0.15% to 104.19, with a monthly decline of 3.14%. Most non - US currencies declined. The euro fell by 0.12% against the US dollar to 1.0816, with a monthly gain of 4.25%. The British pound fell by 0.17% against the US dollar to 1.2917, with a monthly gain of 2.69%.
Key Events
- Global Stock Markets See Sell - off Amid Tariff Storm, Investors Only Dare to "Buy Gold" Instead of Bottom - Fishing Stocks: Before the US claims to implement "reciprocal tariffs" on April 2, hardly any investors dared to rashly increase their stock positions.An investment manager of a large US public - offering fund said, "The domestic political uncertainty in the US (significant layoffs in Washington) and tariffs have thrown the market into chaos. Clients are in low spirits.At such a time, no one would think of bottom - fishing some oversold stocks, so funds have flowed into gold for hedging."
Cryptocurrency
Bitcoin rose by 0.1% to $82,669,Ethereum (ETH - USD) also increased by 0.6% to $1,826.#btc
XRP (XRP - USD) fell by 2.4%, BNB (BNB - USD) rose by 0.2%, and Solana (SOL - USD) declined by 0.4%.
Dogecoin (DOGE - USD) lost 1.9%, and Cardano (ADA - USD) dropped by 1.8%.
Key Events
- The Trump Family Advances Its All - Out Crypto Blitz, This Time With Bitcoin Mining: The president's two oldest sons are investing in a bitcoin - mining company, adding to the Trump family's expanding portfolio of cryptocurrency businesses.
