ADDX GO Market Morning Wrap - 16th Apr
Stock Market
On Tuesday, Eastern Time in the United States, the U.S. stock market opened higher and then declined, with all three major indexes closing slightly lower.
As of the close, the Dow Jones Industrial Average fell 0.38% to 40,368.96 points; the S&P 500 Index dropped 0.17% to 5,396.63 points; and the Nasdaq Composite Index decreased by 0.05% to 16,823.17 points.
The banking sector as a whole performed strongly. The share prices of Bank of America and Citigroup rose by 3.6% and 1.8% respectively. The latest earnings reports of both banks exceeded market expectations.
The share price of Boeing fell by 2.4%. The company's CEO warned that Boeing aircraft deliveries might be delayed due to tariffs.Netflix's share price rose by nearly 5%. It was reported that Netflix executives have set a target to achieve a market capitalization of one trillion U.S. dollars by 2030.
Ericsson's share price rose by more than 8%. Its adjusted EBIT in the first quarter reached 62.1 billion Swedish kronor, exceeding the average analyst expectation of 50 billion Swedish kronor, because telecom operators increased their spending on 5G equipment.
Key Events
- Little Progress Reportedly Made in US-EU Trade Negotiations: According to media reports, the European Union and the United States made almost no progress in bridging their trade differences this week. Officials from the Trump administration revealed that most of the tariffs imposed by the United States on the European Union will not be lifted.
- Trump: All Necessary Permits for NVIDIA Will Be Issued at an Accelerated Pace: On April 15 local time, in response to the news that NVIDIA promised to invest 500 billion U.S. dollars in the exclusive research and development of AI supercomputers in the United States, U.S. President Trump posted on the social platform "Truth Social" that "this is an exciting and significant piece of news." Trump said that all necessary permits will be processed at an accelerated pace and delivered to NVIDIA as soon as possible.
- OpenAI Plans to Enter the Social Network Field: Aiming at Rivaling Platform X, and the Project Has an Early Prototype: According to reports, several informed sources revealed that OpenAI is building a social network similar to X. Although the project is still in its early stages, there is already an internal prototype that focuses on ChatGPT image generation and has social dynamics functions. Sources said that the CEO, Altman, has been privately soliciting feedback on the project from external parties.
- Citigroup's Net Profit in the First Quarter Was $4.1 Billion, a Year-on-Year Increase of 21%: Citigroup announced its first-quarter results, achieving operating revenue of $21.6 billion, a year-on-year increase of 3%; the net profit was $4.1 billion, a year-on-year increase of 21%; and the diluted earnings per share were $1.96. In comparison, the revenue in the first quarter of 2024 was $21 billion, and the net profit was $3.4 billion, that is, the diluted earnings per share were $1.58.
- Bank of America's Earnings per Share in the First Quarter Were $0.902, a Year-on-Year Increase of 18%: Bank of America announced its first-quarter results for 2025. In the first quarter, it achieved operating revenue of $27.4 billion, a year-on-year increase of 11%; earnings per share were $0.902, a year-on-year increase of 18%. The average return on equity was 10.4%. The average deposit balance of Bank of America in the first quarter was $1.96 trillion, an increase of 3%.
Forex & Commodities
International oil prices fell on the 15th.
As of the close of the day, the price of light crude oil futures for May delivery on the New York Mercantile Exchange fell by 20 cents to close at $61.33 per barrel, a decrease of 0.33%; the price of London Brent crude oil futures for June delivery fell by 21 cents to close at $64.67 per barrel, a decrease of 0.32%.
The international gold price rose. As of the close, the settlement price of COMEX gold futures increased by $14.10, an increase of 0.44%, to $3,240.40 per ounce.
The U.S. Dollar Index, which measures the U.S. dollar against six major currencies, rose by 0.58% on that day and closed at 100.215 in the foreign exchange market at the end of the session.
Key Events
- EIA Predicts That U.S. Crude Oil Production Will Reach a Peak of 14 Million Barrels per Day in 2027: The U.S. Energy Information Administration (EIA) said on Tuesday that U.S. oil production will reach a peak of 14 million barrels per day in 2027 and remain at that level until 2030, and then decline rapidly. The statistical department of the U.S. Department of Energy stated in its "Annual Energy Outlook" that by 2050, the oil production of the world's largest oil-producing country will drop from about 13.7 million barrels per day this year to about 11.3 million barrels per day.
- Citi Adjusts Its Price Forecasts for Copper and Aluminum in the Next 0-3 Months and Still Holds a Bearish Attitude: Citi adjusted its price forecast for copper in the next 0-3 months from $8,000 per ton to $8,800 per ton; Citi adjusted its price forecast for aluminum in the next 0-3 months to $2,300 per ton, compared with the previous forecast of $2,200 per ton. Citi still holds a bearish attitude in the next 3-6 months, expecting that due to the large number of tariffs already imposed by the United States, physical copper consumption and manufacturing activities will decline significantly.
Cryptocurrency
Bitcoin was down 1.2% at $83,929, and the cryptocurrency's 24-hour trading volume declined 24.7% to $26.61 billion.
Ethereum (ETH-USD) dipped 2.1% to $1,603.
XRP (XRP-USD) dropped 1.7%, BNB (BNB-USD) dipped 0.7%, and Solana (SOL-USD) sank 2.4%.
Dogecoin (DOGE-USD) was down 3.4%, while Cardano (ADA-USD) dropped 3.6%.
The total market value of the cryptocurrency industry decreased by 1.3% in the past 24 hours to $2.65 trillion, with trading volume falling 22.1% at $72.59 billion.
Key Events
- Bo Hines: The United States Has "Countless" Ways to Increase Its Bitcoin (BTC) Reserves: Bo Hines, Executive Director of the White House Cryptocurrency Committee, said that the United States is exploring various possible options to provide financial support for the U.S. strategic Bitcoin (BTC) reserves.According to the Executive Director of the Trump administration's cryptocurrency committee, the United States is exploring multiple ways to increase its Bitcoin (BTC) reserves, including through tariff revenues and re-evaluating government gold certificates, etc., without having to use taxpayers' funds.
