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ADDX GO Market Morning Wrap - 17th Apr

Go Wire
Go Wire
April 16, 2025
GoGPT Summarizes Articles

Stock Market


At the close, the Dow Jones Industrial Average fell 699.57 points, or 1.73%, to 39,669.39; the Nasdaq Composite Index dropped 516.01 points, or 3.07%, to 16,307.16; and the S&P 500 Index declined 120.93 points, or 2.24%, to 5,275.7.

 


Large technology stocks closed lower across the board. Apple fell 3.89%, Microsoft dropped 3.66%, NVIDIA declined 6.87%, Google (Alphabet) fell 1.91%, Amazon dropped 2.93%, Meta declined 3.68%, and Tesla fell 4.94%.


Key Events

  • Powell's Hawkish Statement: Maintaining a Wait-and-See Stance, Prioritizing Inflation Control, and Denying the "Fed Put": On Wednesday, April 16 (local time), Federal Reserve Chairman Jerome Powell warned that US President Donald Trump's tariff policies may put the Federal Reserve in a dilemma between "controlling inflation" and "supporting economic growth." Powell hinted that if there is a conflict between inflation and employment goals, the Federal Reserve may prioritize inflation control. 
  • The Bank of Canada Keeps Interest Rate Unchanged at 2.75%, Ending Seven Consecutive Rate Cuts: After seven consecutive interest rate cuts, the Bank of Canada kept its main interest rate unchanged at 2.75% on Wednesday, stating that officials need time to determine the final extent and severity of the tariffs imposed by the United States on Canada and other countries, as well as their impact on inflation.
  • OpenAI Releases New AI Models o3 and o4-mini: OpenAI has released new AI models o3 and o4-mini, which mimic human reasoning in solving complex programming and visual tasks; and launched the open-source AI agent CodeX CLI to help users perform programming tasks, thus improving market competitiveness.
  • Apple Announces That Its Global Greenhouse Gas Emissions Have Decreased by More Than 60% Compared to 2015: On April 16, Apple announced that it has made important progress towards its 2030 goal of achieving carbon neutrality for its overall carbon footprint within the next five years: the company's global greenhouse gas emissions have been reduced by more than 60% compared to the 2015 baseline. Apple also said that it has achieved the use of 99% recycled rare earth elements in all magnets and 99% recycled cobalt materials in all Apple-designed batteries.
  • AMD Expects Export Controls on MI308 by the US to Result in Costs of Up to $800 Million: AMD announced on April 16 that it has completed a preliminary assessment of the US export controls on semiconductor products. The export controls apply to the company's MI308 products. The company expects to apply for a license but does not guarantee that it will be granted. AMD expects that the export controls may result in inventory, procurement, and related reserve costs of up to approximately $800 million.

Forex & Commodities


The international gold price reached a new high. Spot gold broke through $3,350 per ounce, and the settlement price of COMEX gold futures rose by $106, or 3.27%, to $3,346.40 per ounce.
 

International oil prices rose on the 16th. At the close of the day, the price of light sweet crude oil futures for May delivery on the New York Mercantile Exchange rose by $1.14 to settle at $62.47 per barrel, up 1.86%; the price of London Brent crude oil futures for June delivery rose by $1.18 to settle at $65.85 per barrel, up 1.82%.
 

The US Dollar Index, which measures the value of the US dollar against six major currencies, fell 0.83% on the day and closed at 99.385 in the late trading session of the foreign exchange market.


Key Events

  • Out of Control! Japanese Government Bonds Are Being Heavily Sold. Will the Bank of Japan Intervene?: The long-term yield curve of Japanese government bonds is getting out of control. On April 17, the US-Japan trade negotiations are about to take place, and the focus of the negotiations will cover issues such as tariffs, non-tariff barriers, and the Japanese yen exchange rate. This meeting may become a turning point for the Japanese yen exchange rate issue.
  • The World Trade Organization: The US Tariff Policy Has Severely Deteriorated the Global Trade Outlook:The latest report released by the World Trade Organization on the 16th shows that the US tariff policies have led to a severe deterioration of the global trade outlook. Under the current tariff situation, the global volume of merchandise trade is expected to decline by 0.2% in 2025, nearly 3 percentage points lower than the forecast in the "low-tariff" baseline scenario. The decline in merchandise trade in North America is particularly significant, with exports expected to drop by 12.6%.


Cryptocurrency

Bitcoin rose 0.5% to $84,404. The 24-hour trading volume of the cryptocurrency surged 8.3% to $29.69 billion.

 


Ethereum (ETH-USD), the second-largest digital asset by market value, fell 1.2% to $1,585.

 


XRP (XRP-USD) declined 0.9%, BNB (BNB-USD) was up 0.2%, while Solana (SOL-USD) gained 4.2%.

 


Dogecoin (DOGE-USD) rose 0.2%, and Cardano (ADA-USD) fell 0.5%.

 


The total market value of the cryptocurrency industry decreased 0.3% in the past 24 hours to $2.65 trillion, with trading volume rising 10.5% to $80.09 billion.


Key Events

The battle between bulls and bears in Bitcoin is deadlocked, and it has fallen into a period of volatile consolidation as leverage retreats:
 
In contrast to the "safe-haven frenzy" of gold, Bitcoin has been fluctuating around $84,000 .
 
The current market shows obvious characteristics of being "driven by derivatives": The futures leverage ratio of BTC-USDT has dropped by 50%, indicating that funds are withdrawing from high-leverage trading; and the long and short liquidation positions worth $11.36 billion piled up in the price range of $80,000 to $90,000 have become a "time bomb" for price fluctuations — if the price breaks through $90,035, short positions worth $6.5 billion will be forced to close out, and conversely, if it drops to $80,071, long positions worth $4.86 billion will be wiped out.
 
It is worth noting that the participation of retail investors and the spot market is still relatively low, and institutional divergence on the future market has intensified: Standard Chartered Bank is bullish on Bitcoin, expecting it to reach $200,000 by the end of 2025. However, the technical analysis shows that both the spot and futures markets need to see a simultaneous increase in trading volume to break through the key resistance levels. In the short term, investors are advised to stay on the sidelines and avoid chasing highs and cutting losses impulsively.

Market Events and Most Anticipated Earnings Releases

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