ADDX GO Market Morning Wrap - 2nd Apr

Stock Market

Investors are anxious about the reciprocal tariffs that the Trump administration is about to announce as Trump's reciprocal tariffs are on the verge of taking effect.

 

During the trading session of U.S. stocks, the market fluctuated repeatedly, and the three major U.S. stock indexes showed mixed performances. As of the close of the day, the Dow Jones Industrial Average dropped 11.80 points compared to the previous trading day, closing at 41,989.96 points, a decline of 0.03%; the S&P 500 stock index rose by 21.22 points, closing at 5,633.07 points, an increase of 0.38%; the Nasdaq Composite Index increased by 150.60 points, closing at 17,449.89 points, an increase of 0.87%.

 

Most large technology stocks were in the green. Tesla rose by more than 3%, while Microsoft, NVIDIA, Google, and Meta rose by more than 1%. Apple rose slightly; Intel dropped nearly 3%, and Netflix declined slightly. On the second day of its listing on the U.S. stock market, the media company Newsmax continued its upward trend, surging by more than 179%, with a cumulative increase of more than 2,230% over the two days.$TSLA $AAPL $NVDA $MSFT 

Key Events

• Short positions have risen to a nearly one-year high, and tonight's Nintendo press conference is under great pressure: At 9:00 a.m. Eastern Time on Wednesday, Nintendo will hold the first launch presentation for its new-generation gaming console, the Nintendo Switch 2. In recent days, the growing interest of short sellers has added extra pressure to this press conference.
• Federal Reserve's Barkin: Tariffs may reduce employment and drive up inflation: Richmond Fed President Barkin stated that Trump's tariffs may push up inflation and the unemployment rate, presenting a huge challenge to the Federal Reserve.
• Zelensky said that Ukraine and the United States are negotiating a minerals agreement and emphasized that it does not involve NATO issues: On April 1 local time, Ukrainian President Zelensky said that the legal teams of Ukraine and the United States are currently negotiating a minerals agreement. He specifically pointed out that this agreement has nothing to do with NATO issues.

Forex & Commodities

International oil prices declined on the 1st. As of the close of the day, the price of light crude oil futures for May delivery on the New York Mercantile Exchange dropped by 28 cents, closing at $71.20 per barrel, a decrease of 0.39%; the price of London Brent crude oil futures for June delivery fell by 28 cents, closing at $74.49 per barrel, a decrease of 0.37%.

 

International gold prices closed lower. The settlement price of COMEX gold futures fell by $4.3, a decrease of 0.14%, to $3,146.00 per ounce.

 

On Tuesday, at the close in New York, the U.S. dollar index rose by 0.03% to 104.23, and most non-U.S. currencies increased. The euro fell by 0.22% against the U.S. dollar, trading at 1.0792.

Key Events

• Has Trump's tariffs ignited a "boycott of the U.S. movement"? Goldman Sachs: The U.S. GDP is likely to suffer a loss of $83 billion this year! As Trump's "tariff measures" keep escalating, other countries not only implement "retaliatory tariffs" at the national level to counteract them, but consumers have also spontaneously launched a "boycott of the U.S. movement," covering U.S. products and tourism. Goldman Sachs warns that Trump's "tariff measures" may lead to a reduction of 0.1% to 0.3% in the U.S. GDP. Calculated based on the current growth expectation of $27.7 trillion, this figure will reach between $28 billion and $83 billion.

Cryptocurrency

Bitcoin rose by 3.0% to $85,096, and Ethereum (ETH-USD) also increased by 4.4% to $1,908.

 

XRP (XRP-USD) rose by 1.9%, BNB (BNB-USD) increased by 0.3%, and Solana (SOL-USD) was up by 1%.

 

Dogecoin (DOGE-USD) increased by 3.5%, and Cardano (ADA-USD) rose by 3.2%.

Key Events

• Metaplanet Acquires 696 Bitcoins; Reports Q1 Bitcoin Income Performance: Metaplanet has acquired 696 Bitcoins and reported its Bitcoin income performance in the first quarter. This brings its total Bitcoin holdings to 4,046, with an average acquisition price of 12.9 million yen per Bitcoin.