ADDX GO Market Morning Wrap-24th Apr
Stock Market
The three major US stock indexes closed higher on the 23rd. As of the close of the day, the Dow Jones Industrial Average rose 419.59 points from the previous trading day to close at 39,606.57, an increase of 1.07%; the S&P 500 Index rose 88.10 points to close at 5,375.86, an increase of 1.67%; the Nasdaq Composite Index rose 407.63 points to close at 16,708.05, an increase of 2.50%.
Large technology stocks led the gains. Tesla and Intel rose by more than 5%, Amazon, Meta, Broadcom, AMD, and Taiwan Semiconductor Manufacturing Company (TSMC) rose by more than 4%, NVIDIA rose nearly 4%, and Apple and Google rose by more than 2%.
The price of Bitcoin topped $93,000. Blockchain concept stocks continued to strengthen. Canaan Creative Inc. rose nearly 7%, Riot Platforms rose by more than 5%, Bit Digital rose by more than 4%, and Coinbase rose by more than 2%.
Key Events
- The Federal Reserve's Beige Book said that Economic activity is stable, but uncertainties have caused a significant deterioration in the prospects of several regions: The Federal Reserve's Beige Book pointed out that prices in the United States are rising, and economic activity and employment in most parts of the United States have changed little since March. The report reflects some of the early impacts of US President Donald Trump's erratic introduction of comprehensive tariffs aimed at reshaping global trade.
- British Chancellor of the Exchequer: Not in a hurry to reach a tariff agreement with the US and will not lower standards: British Chancellor of the Exchequer Rachel Reeves said on Wednesday that the UK is not in a hurry to reach a tariff agreement with the US and stressed that the UK has its own security bottom line and will not easily compromise just because it is eager to reach an agreement.
- US President Donald Trump denied firing Federal Reserve Chairman Jerome Powell and said he "never intended" to remove him from the position: Trump accused the relevant statement of being media hype, and he just hopes that Powell can take more proactive actions on the issue of interest rates.Obviously, Trump's attitude has changed compared with his previous multiple threats to Powell.
Forex & Commodities
The international gold price plunged, and spot gold fell below the $3,300 mark.
COMEX gold futures fell by $125.30, a decrease of 3.66%, closing at $3,294.10 per ounce.
Several member states of OPEC+ hope that the organization will approve another acceleration of production increase in June at the meeting on May 5. Affected by this, the international oil price fell on the 23rd.
As of the close of the day, the price of light crude oil futures on the New York Mercantile Exchange fell by $1.40 to close at $62.27 per barrel, a decrease of 2.20%; the price of Brent crude oil futures in London fell by $1.30 to close at $65.18 per barrel, a decrease of 1.96%.
The US Dollar Index, which measures the dollar against six major currencies, rose 0.94% on the day and closed at 99.844 in the late trading session of the foreign exchange market.
Key Events
- Signs of Withdrawing from the Group? The Kazakh Minister Made a Tough Statement, and the Tension within OPEC+ is Growing: According to media reports, two representatives revealed that eight OPEC+ member states will focus on discussing how to persuade Kazakhstan to stop overproducing oil and formulate a plan to compensate for its previous excessive production at the meeting on Thursday (April 24).
Cryptocurrency
Bitcoin rose 2.4% to $93,462, and the 24-hour trading volume of the cryptocurrency surged 15% to $51.95 billion.
Ethereum (ETH-USD) increased 5.5% to $1,783.
XRP (XRP-USD) rose 3.2%, BNB (BNB-USD) decreased 0.8%, and Solana (SOL-USD) rose 4.1%.
Dogecoin (DOGE-USD) rose 4%, while Cardano (ADA-USD) rose 6.5%.
Key Events
- The total market value of cryptocurrencies exceeded $3 trillion, and Bitcoin's market share is 61.4%: Data shows that currently, the total market value of cryptocurrencies has exceeded $3 trillion, currently standing at $3.054 trillion, with a 24-hour increase of 4.8% and a 24-hour trading volume of $153.8921 billion. Currently, Bitcoin's market share is 61.4%, and Ethereum's market share is 7.10%.
