ADDX GO Market Morning Wrap - 25th Apr
Stock Market
The three major U.S. stock indexes experienced a collective increase for the third consecutive trading day.
By the close of the market, the S&P 500 Index rose by 2.03% to 5,484.77 points; the Nasdaq Composite Index rose by 2.74% to 17,166.04 points; and the Dow Jones Industrial Average rose by 1.23% to 40,093.4 points.
Federal Reserve Governor Christopher Waller said that he would support interest rate cuts if the aggressive level of tariffs damages the job market.
Cleveland Fed President Loretta Mester also publicly stated that if clear evidence of the economic trend can be obtained, interest rate actions may be taken as early as June.
Craig Johnson, Chief Market Technician at Piper Sandler, pointed out that unless the bulls break through the 5,500-point level, preferably accompanied by an increase in trading volume, the market is likely to continue to fluctuate and consolidate. However, once the 5,500-point level is successfully broken through, we are likely to see another wave of increase to 5,800 points.
Technology stocks generally rose. Tesla, Amazon, and Microsoft rose by more than 3%. Google and Meta rose by more than 2%, and Apple rose by nearly 2%. The semiconductor sector led the gains. Micron Technology and Broadcom rose by more than 6%. Intel and AMD rose by more than 4%, and Nvidia rose by more than 3%.$TSLA $AMZN $MSFT $AAPL $AVGO
Key Events
- The German government lowered its economic expectations: It may be in a standstill under the shadow of tariffs: Local time on Thursday (April 24th), the German government lowered its forecast for this year's economic growth and expected that its gross domestic product (GDP) would be in a standstill after two consecutive years of contraction.
- The Nintendo Switch 2 triggered a global rush to buy, strongly impacting the records of the consumer electronics market, and Nintendo's stock price soared: With the pre-orders for the Nintendo Switch 2 in the U.S. market, which were postponed due to "Trump's tariffs", being opened, all retailers were in a chaotic situation, making the market re-examine whether it has seriously underestimated consumers' fanatical demand for this game console.Driven by the booming market demand, Nintendo's ADR in the U.S. stock market soared by 7.02% on Thursday, reaching a new all-time high. Nintendo's Japanese stocks closed up by 5.62% on Thursday.
- There was a power struggle in the White House! Elon Musk and Scott Bessent insulted each other face to face: According to revelations by U.S. media, two eyewitnesses and three informed sources revealed that Tesla CEO Elon Musk had a fierce argument with U.S. Treasury Secretary Scott Bessent in the White House. One eyewitness described last Thursday's argument as "like two middle-aged billionaires wrestling in the corridor of the West Wing of the White House."
Forex & Commodities
The settlement price of COMEX gold futures rose by $54.5, an increase of 1.65%, to $3,348.60 per ounce.
The price of light crude oil futures for delivery in June on the New York Mercantile Exchange rose by 52 cents to close at $62.79 per barrel, an increase of 0.84%. The price of London Brent crude oil futures for delivery in June rose by 43 cents to close at $66.55 per barrel, an increase of 0.65%.
On April 25th, the U.S. Dollar Index, which measures the U.S. dollar against six major currencies, fell by 0.47% on that day and closed at 99.375 in the late trading session of the foreign exchange market.
Key Events
- The President of the International Monetary Fund called on countries to resolve trade disputes as soon as possible: On the 24th, Kristalina Georgieva, President of the International Monetary Fund (IMF), said that the significant shift in trade policies has led to a sharp increase in uncertainty, and the global economy is facing new major tests. She called on countries to carry out constructive cooperation, resolve trade disputes as soon as possible, keep markets open, and eliminate uncertainties.
Cryptocurrency
Bitcoin rose by 0.2% to $93,615, and the 24-hour trading volume of the most popular cryptocurrency dropped by 40% to $30.8 billion.#btc
Ethereum (ETH-USD), the second-largest digital asset by market value, fell by 1.1% to $1,764.
XRP (XRP-USD) dropped by 0.7%, BNB (BNB-USD) declined by 0.8%, while Solana (SOL-USD) increased by 1.1%.
Dogecoin (DOGE-USD) rose by 0.9%, and Cardano (ADA-USD) rose by 4.3%.
The total market value of the cryptocurrency industry rose by 0.3% in the past 24 hours to $2.93 trillion, with the trading volume dropping by 33% to $89.9 billion.
Key Events
- Cryptocurrency advocates call on the Swiss Central Bank to hold Bitcoin: Cryptocurrency advocates have increased their calls for the Swiss National Bank to buy Bitcoin. They said that the global economic turmoil triggered by U.S. President Donald Trump's tariffs has made it even more important for the Swiss Central Bank to diversify its reserves.Supporters launched a referendum campaign in December last year, aiming to amend the Swiss constitution to require the Swiss National Bank to include Bitcoin together with gold in its reserve assets.
