ADDX GO Market Morning Wrap - 30th Apr
Stock Market
On Tuesday, the three major indexes rose, and the Dow Jones Industrial Average and the S&P 500 Index rose for the sixth consecutive day.
At the close of trading, the Dow Jones Industrial Average rose 300.03 points, or 0.75%, to 40,527.62; the Nasdaq Composite Index rose 95.18 points, or 0.55%, to 17,461.32; and the S&P 500 Index rose 32.08 points, or 0.58%, to 5,560.83.
Most large-cap tech stocks rose. Tesla rose by more than 2%, Netflix rose by over 1%, while Apple, Microsoft, NVIDIA, and Meta had small increases; Google and Amazon had slight declines.
Danish pharmaceutical giant Novo Nordisk said that as its star weight - loss drug Wegovy is no longer in short supply in the United States, the company will sell the drug through telemedicine platforms Hims & Hers Health, Ro, and LifeMD to expand access. Boosted by this news, Hims & Hers closed up more than 23% on Tuesday, and Novo Nordisk's share price also rose by 4%.
NXP Semiconductors' share price plunged nearly 7% after releasing quarterly earnings and announcing the appointment of a new CEO. The company warned that tariff threats had created "an extremely uncertain environment".
Key Events
- US Secretary of Commerce Lutnick said in an interview on Tuesday that he has reached a trade agreement with an unnamed country: He said: "One of my agreements has been reached, reached, reached, reached. But I need to wait for their leader and their parliament to approve it, and I expect that to happen soon." This trade agreement will be the first trade agreement reached by the Trump administration in this term. However, Lutnick did not mention the name of the country.
- US Secretary of Commerce said all cars manufactured in the United States can enjoy tariff exemptions: US Secretary of Commerce Lutnick: US car manufacturers will receive a 15% deduction on the value of these cars when importing parts; all cars assembled in the United States with 85% of domestic parts content will be exempt from tariffs.
- Meta Launches Independent AI Application, Aiming to Create a Personalized Intelligent Assistant: On Tuesday local time, US technology giant Meta launched an independent AI application to compete with popular chatbots such as OpenAI's ChatGPT, which is also Meta's first step in creating a more personalized AI assistant.
Forex & Commodities
International oil prices fell on the 29th.
At the close of trading on that day, the price of light crude oil futures for June delivery on the New York Mercantile Exchange fell by $1.63 to close at $60.42 per barrel, a decrease of 2.63%; the price of London Brent crude oil futures for June delivery fell by $1.51 to close at $63.28 per barrel, a decrease of 2.33%.
The settlement price of COMEX gold futures fell by $14.10, or 0.42%, to $3,333.60 per ounce.
The US Dollar Index, which measures the dollar against six major currencies, rose 0.23% on that day and closed at 99.237 in the late trading session of the foreign exchange market.
Key Events
- The price of gold futures has dropped by about $180 from its high level. Industry insiders said Hedge funds' high selling and low buying have become the driving force for short selling: Since the gold price hit a historical high on April 22, the international gold price has corrected somewhat at a high level in the past week. A person from the precious metals department of a Wall Street investment bank revealed that since mid-April, Wall Street hedge funds have been reducing their net long positions in COMEX gold futures on rallies. The reason is that in previous years, after the gold price reached a new high, there would always be a round of correction, which made Wall Street hedge funds "habitually" choose to short COMEX gold futures on rallies and carry out high selling and low buying band operations.
Cryptocurrency
Bitcoin rose 0.5% to $95,371, and the 24-hour trading volume of the cryptocurrency decreased by 20.6% to $25.76 billion.#btc
Ethereum (ETH-USD), the second-largest digital asset by market value, increased 1.6% to $1,823.
XRP (XRP-USD) added 0.01%, BNB (BNB-USD) eased 0.3%, and Solana (SOL-USD) gained 0.6%.
Dogecoin (DOGE-USD) dipped 0.2%, while Cardano (ADA-USD) added 0.2%.
The total market value of the cryptocurrency industry rose 0.4% in the past 24 hours to $2.98 trillion, with trading volume down 18.9% to $74.05 billion.
Key Events
- The first in the United States! The Arizona legislature has passed a Bitcoin reserve bill, allowing up to 10% of public assets to be invested in Bitcoin: On Monday local time, the legislative body of Arizona in the United States has passed a bill allowing up to 10% of public funds to be invested in Bitcoin and digital assets. If this measure is signed by the governor, Arizona will become the first state in the United States to officially establish a Bitcoin reserve.
Market Events and Most Anticipated Earnings Releases
