ADDX GO Market Morning Wrap - 29th Apr
Stock Market
On Monday, Eastern US Time, the three major indices showed mixed performance. The Dow Jones Industrial Average and the S&P 500 Index rose for the fifth consecutive trading day. The first-quarter earnings season of US stocks has entered its busiest period. More than 180 S&P 500 index companies will release their earnings this week. Amazon (AMZN.US), Apple (AAPL.US), Meta (META.US), and Microsoft (MSFT.US) will release their quarterly reports this week.
At the close of trading, the Dow Jones Industrial Average rose 114.09 points, or 0.28%, to 40,227.59; the Nasdaq Composite Index fell 16.81 points, or 0.10%, to 17,366.13; and the S&P 500 Index rose 3.54 points, or 0.06%, to 5,528.75. Tesla (TSLA.US) rose 0.3%, Apple (AAPL.US) rose 0.4%, and Nvidia (NVDA.US) fell 2%.$AAPL $NVDA $TSLA
Key Events
- Spain and Portugal Suffer Nationwide Power Outage: Transportation Paralyzed, Residents' Lives Seriously Affected: On Monday, local time, Spain and Portugal experienced a nationwide power outage, causing public transportation to come to a standstill and flights to be delayed, affecting the lives of millions of people. Spanish Prime Minister Pedro Sánchez warned that the country would face a "long night," and the worst power outage in Europe in more than 10 years would last for 12 hours, but there was no indication of when the power would be fully restored.
- IBM Announces a $150 Billion Investment Plan: On Monday, local time, the well-established US technology company IBM announced that it will invest $150 billion in the United States over the next five years. This includes $30 billion in research and development investment to promote IBM's AI mainframe and quantum computer manufacturing business in the United States.
- Putin Announces a 72-Hour Ceasefire in Early May and Expresses Willingness to Conduct Unconditional Peace Talks: On Monday (April 28th), local time, Russian President Vladimir Putin announced that there would be a 72-hour ceasefire during the 80th anniversary celebration of the victory in the Great Patriotic War, lasting from May 8th to May 10th.
- Germany's "Economic Engine" Starts to Roar Louder, and the Incoming Chancellor Merz Discloses Cabinet Minister Appointments: The next German government, which has the approval for a "trillion-euro fiscal stimulus," is finally approaching the moment of "releasing the funds." On Monday, local time, the Christian Democratic Union (CDU) of the incoming Chancellor Friedrich Merz held a party congress and officially approved the agreement to form a coalition government with the Social Democratic Party (SPD).
Forex & Commodities
International oil prices fell on the 28th.
At the close of trading on that day, the price of light crude oil futures on the New York Mercantile Exchange fell by 97 cents to close at $62.05 per barrel, a decrease of 1.54%; the price of London Brent crude oil futures fell by $1.01 to close at $64.79 per barrel, a decrease of 1.53%.
The settlement price of COMEX gold futures rose by $49.30, or 1.49%, to $3,347.70 per ounce.
The US Dollar Index, which measures the value of the US dollar against six major currencies, fell by 0.46% on that day and closed at 99.012 in the late trading of the foreign exchange market.
Key Events
- The Surge of the Euro Draws the Attention of the US Treasury Secretary, and Institutions Increase Their Bets on the ECB's Interest Rate Cut: The rapid appreciation of the euro has drawn the attention of officials on both sides of the Atlantic, and this upward trend shows no sign of slowing down, fueling market expectations of further interest rate cuts by the European Central Bank. JPMorgan Chase, BNP Paribas, and Danske Bank expect that one euro could be exchanged for $1.20 or even more by the end of the year, which is a far cry from the expectations of some analysts for parity three months ago.
Cryptocurrency
Bitcoin rose 0.5% to $94,894, and the 24-hour trading volume of this popular cryptocurrency surged 79% to $32.6 billion.#btc
Ethereum (ETH-USD), the second-largest digital asset by market value, decreased 0.5% to $1,797.
XRP (XRP-USD) gained 1.5%, BNB (BNB-USD) lost 0.04%, while Solana (SOL-USD) fell 1%.
Dogecoin (DOGE-USD) dropped 1.5%, and Cardano (ADA-USD) fell 0.7%.
The total market value of the cryptocurrency industry rose 0.4% in the past 24 hours to $2.97 trillion, with trading volume increasing 51% to $91 billion.
Key Events
- Coinbase's Asset Management Company to Launch a Bitcoin Yield Fund Targeting Institutional Investors: Coinbase's asset management company, Coinbase, is about to launch a new fund aimed at generating regular returns for clients' Bitcoin holdings. It is reported that this product, named the Coinbase Bitcoin Yield Fund, is scheduled to be launched on May 1st, with the goal of achieving an annual net return rate of 4% to 8%, and the returns will be distributed in the form of Bitcoin. In addition, the fund is only open to non-US institutional investors.
Market Events and Most Anticipated Earnings Releases
