ADDX GO Market Morning Wrap - 26th Apr

Stock Market

With the Trump administration in the United States temporarily reining in its radical policy rhetoric, the US stock market has  seen a breather this week. As the Dow Jones Industrial Average turned positive in the final moments on Friday, the three major indices have achieved four consecutive days of gains.

 

As of the close, the S&P 500 index rose 0.74%, closing at 5,525.21 points; the Nasdaq Composite Index rose 1.26%, closing at 17,382.94 points; and the Dow Jones Industrial Average rose slightly by 0.05%, closing at 40,113.5 points.

 

This week, the cumulative increase of the S&P 500 index was 4.59%, and the Nasdaq index reached 6.73%, erasing the decline since April. The Dow Jones index increased by a total of 2.48%.

 

The US stock market will see the earnings reports of Apple, Microsoft, and Amazon next week, as well as Meta's first AI developer conference, LlamaCon. More crucially, the global market is also watching to see how the flustered Trump administration intends to proceed with the trade negotiations.$AAPL $MSFT $AMZN 

Key Events

• US Officials Develop Template for Negotiations and Will Discuss Tariff Reduction Conditions with Trading Partners in Batches: According to informed sources, the Trump administration has drafted a set of negotiation frameworks to deal with those trading partners who are eager to reach an agreement to avoid tariff hikes. According to this blueprint, US negotiators will use a template to list the areas of common concern between the two sides to guide the negotiation process. These areas include tariffs, non-tariff barriers, digital trade, economic security, and business issues.
• Apple Plans to Have "Made in India" iPhones Sold in the US by the End of Next Year: According to multiple media reports, Apple Inc. plans to assemble most or all of the iPhones sold in the United States in India by the end of next year to mitigate risks related to tariffs and geopolitical tensions.
• Tesla Refunds Early Deposits to Indian Customers, Fueling Market Speculation of Its Entry into India Plan: According to the emails seen by the media, Tesla's Indian office is refunding the deposits to the early reservation holders of Model 3 in India, which has triggered speculation that this American electric vehicle manufacturer is about to launch models in the world's third-largest automobile market. Analysts believe that these emails use Tesla's official domain name, which is the latest sign that the company is preparing to start sales operations in this South Asian country.$TSLA 

Forex & Commodities

The settlement price of COMEX gold futures fell by $50.20, a decrease of 1.50%, closing at $3,298.40 per ounce.

 

The price of light crude oil futures for delivery in June on the New York Mercantile Exchange rose by 23 cents, closing at $63.02 per barrel, an increase of 0.37%; the price of London Brent crude oil futures for delivery in June rose by 32 cents, closing at $66.87 per barrel, an increase of 0.48%.

 

At the close in New York on April 25, the US dollar index rose 0.3% to 99.5836, up 0.36% for the week.

Key Events

• The Treasury Secretary Holds Firm said the US Dollar Remains a Reserve Currency: Despite the US dollar experiencing its worst start to a year on record, Treasury Secretary Bessent still insists that the US dollar will maintain its status as the world's reserve currency.According to reports, Bessent broadly strengthened support for the United States and the central role of the US dollar in the global financial system during his speech at the International Monetary Fund and the World Bank on Thursday morning, Eastern US time. The 62-year-old Bessent said:I think the US dollar will always be a reserve currency in my lifetime. In fact, I'm not sure if any other country wants this role.Analysts said that the US dollar is likely to continue to maintain its status as the world's reserve currency, but there may be significant changes in the tacit agreements and commitments surrounding the global economy.

Cryptocurrency

Bitcoin rose 1.6% to $95,183, and the cryptocurrency's 24-hour trading volume surged 35.3% to $41.58 billion.#btc 

 

Ethereum (ETH-USD) added 1.9% to $1,800.

 

XRP (XRP-USD) dropped 0.6%, BNB (BNB-USD) gained 0.9%, while Solana (SOL-USD) dipped 0.1%.

 

Dogecoin (DOGE-USD) rose 0.5%, and Cardano (ADA-USD) fell 1.8%.

 

The total market value of the cryptocurrency industry rose 1.4% in the past 24 hours to $2.97 trillion, with trading volume rising 18.6% to $106.85 billion.

Key Events

• The Cryptocurrency Market Receives New Positive News! The Federal Reserve Announces the Withdrawal of Cryptocurrency Regulatory Guidelines:On Thursday (April 25), the Federal Reserve announced the withdrawal of several documents urging banks to exercise caution when engaging in cryptocurrency and related activities and simultaneously updated the expected standards for related businesses. This news brought positive news to the cryptocurrency market.