ADDX GO Market Morning Wrap - 23rd Apr

The three major U.S. stock indexes rose on the 22nd.

 

As of the close of the day, the Dow Jones Industrial Average rose 1,016.57 points from the previous trading day to close at 39,186.98, an increase of 2.66%; the Standard & Poor's 500-stock index rose 129.56 points to close at 5,287.76, an increase of 2.51%; and the Nasdaq Composite Index rose 429.52 points to close at 16,300.42, an increase of 2.71%.

 

Large-cap technology stocks generally rose. Tesla rose more than 4%, and Amazon, Apple, and Meta rose more than 3%. Google and Microsoft rose more than 2%.

Tesla released its first-quarter financial report after the market closed, and its revenue fell short of market expectations. The data shows that Tesla's Q1 2025 revenue was $19.335 billion, a year-on-year decrease of 9.2%, and the market expected $21.348 billion; the net profit was $409 million, a year-on-year decrease of 71%.

 

Bitcoin returned above $90,000, and blockchain-related stocks generally rose. MARA Holdings rose more than 14%, Riot Platforms rose more than 13%, and Canaan Creative and Coinbase rose more than 8%.

Key Events

• "Wall Street's God of Shorts": Central banks around the world are seeking to break away from the paper-money system and will continue to buy gold: John Paulson, a US billionaire and hedge-fund manager, recently said that against the background of global political and economic turmoil, central banks around the world will continue to increase their gold holdings to achieve asset diversification while getting rid of their dependence on paper money.
• The US "proposal for a cease-fire in the Russia-Ukraine conflict" has emerged: freeze the front line and recognize Crimea as Russian territory: On Wednesday this week, diplomats from the United States, the European Union, and Ukraine will meet in London. The three parties will discuss some cease-fire proposals that are bound to displease Ukraine, including the US government's recognition of Crimea as belonging to Russia, the freezing of the current front line, and the ultimate lifting of sanctions against Russia.
• Vietnamese Prime Minister: Trade negotiations with the United States should not harm other markets: Vietnamese Prime Minister Pham Minh Chinh instructed his negotiating team to "make full preparations" for tariff negotiations with the United States while avoiding any impact on other markets.Vietnam is one of the first countries to express its willingness to negotiate with the US government on tariff issues. Pham Minh Chinh reiterated that Vietnamese goods do not directly compete with US goods. "The bilateral trade relationship has so far been generally beneficial to US consumers and has also promoted Vietnam's export growth," he added. Vietnam is willing to negotiate based on the US proposal.

Forex & Commodities

The international gold price closed lower.

 

COMEX gold futures once rose above the $3,500-per-ounce mark during the session, and the settlement price fell $5.90, or 0.17%, to $3,419.40 per ounce.

 

International oil prices rose on the 22nd.

 

As of the close of the day, the price of light crude oil futures on the New York Mercantile Exchange rose $1.26 to close at $63.67 per barrel, an increase of 2.02%; the price of Brent crude oil futures in London rose $1.18 to close at $66.48 per barrel, an increase of 1.81%.

 

The US dollar index rose on the 22nd.

 

The US dollar index, which measures the dollar against six major currencies, rose 0.56% and closed at 98.918 in the late trading session.

Key Events

IMF cuts global economic growth forecast for this year and next, says outlook could worsen further: On Tuesday, April 22 (local time), the International Monetary Fund (IMF) released its latest World Economic Outlook report. Unsurprisingly, the agency sharply cut its global economic growth forecast for this year and next and warned that the outlook could worsen further as Trump administration tariffs trigger a full-blown trade war.

Cryptocurrency

Bitcoin rose 4.7% to $91,358, and the cryptocurrency's 24-hour trading volume climbed 8.6% to $44.8 billion.

 

Ethereum (ETH-USD), the second-largest digital asset by market value, jumped 7.4% to $1,691.

 

XRP (XRP-USD) added 3.2%, BNB (BNB-USD) rose 1.7%, and Solana (SOL-USD) advanced 5.6%.

 

Dogecoin (DOGE-USD) gained 8.7%, while Cardano (ADA-USD) rose 5.4%.

 

The total market value of the cryptocurrency industry rose 4.2% in the past 24 hours to $2.84 trillion, with trading volume gaining 15% to $104.1 billion.

Key Events

• Standard Chartered: Concerns about the independence of the Federal Reserve could push Bitcoin to an all-time high. By the end of 2025, the price of Bitcoin will rise to $200,000: Jeff Kendrick, an analyst at Standard Chartered Bank, said that if concerns about the independence of the Federal Reserve continue, Bitcoin could rise to an all-time high.He said that due to its decentralized ledger, cryptocurrencies are a hedge against the risks of the existing financial system. He said that the yield premium of investors buying long-term Treasury bonds relative to short-term Treasury bonds has risen sharply, which has benefited Bitcoin.Standard Chartered Bank expects that by the end of 2025, the price of Bitcoin will rise to $200,000.