ADDX GO Market Morning Wrap - 6th May

Stock Market

On Monday, Eastern U.S. Time, as investors closely monitored the latest developments in the global trade situation, U.S. stocks ended their consecutive upward trend. The three major indices all closed in the red, and the S&P 500 Index's nine consecutive gains came to an end.

As of the close, the Dow Jones Industrial Average fell 0.24%, closing at 41,218.83 points; the S&P 500 Index dropped 0.64%, closing at 5,650.38 points; and the Nasdaq Composite Index declined 0.74%, closing at 17,844.24 points.

Most large-cap tech stocks declined. Apple's stock price dropped by more than 3%, Tesla's fell by over 2%, Amazon, Netflix, and Intel's shares declined by more than 1%, and NVIDIA's stock price had a slight decline. Microsoft, Google, and Meta saw slight increases.

Berkshire Hathaway-A dropped nearly 5%, and Berkshire Hathaway-B fell by more than 5%. Warren Buffett will step down as CEO at the end of 2025.

Key Events

• Buffett Announces His Resignation as CEO at the End of the Year, and Berkshire's Stock Price Plummets: As of the close on Monday (May 5th), Berkshire Hathaway's Class A and Class B shares fell by 4.87% and 5.12% respectively. Berkshire officially announced on its official website that on May 4th, local time, the company's board of directors unanimously voted to appoint Greg Abel as Berkshire's President and CEO, effective January 1st, 2026. This also means that the 94-year-old "Oracle of Omaha" Warren Buffett will hand over control of Berkshire at the end of this year.
• Apple Issues Bonds for the First Time in Two Years, and Analysts Expect It to Raise $5 to $6 Billion: According to the documents of the U.S. Securities and Exchange Commission (SEC), Apple Inc. issued four series of corporate bonds on Monday, local time. This is the company's first debt financing in two years, and the funds raised are expected to be used for share buybacks, repayment of outstanding debts, and other purposes.
• The White House Says It Has Not Made a Final Decision on Movie Tariffs: On May 4th, local time, U.S. President Donald Trump posted on social media that he authorized the U.S. Department of Commerce and the U.S. Trade Representative to immediately initiate procedures to impose a 100% tariff on all movies produced abroad and imported into the United States, hoping to "have American-made movies again." On May 5th, local time, the White House stated that it has not made a "final" decision on movie tariffs.

Forex & Commodities

The settlement price of COMEX gold futures increased by $79.00, a rise of 2.44%, closing at $3,322.30 per ounce.

International oil prices fell on the 5th. As of the close of the day, the price of light crude oil futures for delivery in June on the New York Mercantile Exchange dropped by $1.16, closing at $57.13 per barrel, a decline of 1.99%. The price of London Brent crude oil futures for delivery in July fell by $1.06, closing at $60.23 per barrel, a decrease of 1.73%.

Key Events

• Goldman Sachs Reiterates Its "Structurally Bullish" View on Gold, and Silver Is Doomed to Play Second Fiddle: Goldman Sachs stated that due to the strong demand for gold from central banks around the world, the gold-silver ratio has been structurally pushed up, and gold will continue to outperform silver. Goldman Sachs explained, "Due to the slowdown of the photovoltaic industry caused by oversupply, coupled with the increased risk of recession and central banks around the world continuing to buy a large amount of gold in 2025, we expect the price of gold to continue to outperform silver."

Cryptocurrency

Bitcoin fell by 1.2% to $94,435, and the 24-hour trading volume of this cryptocurrency surged by 70.4% to $27.18 billion.

Ethereum (ETH-USD), the second-largest digital asset by market value, dropped by 0.6% to $1,818.

XRP (XRP-USD) decreased by 1.4%, BNB (BNB-USD) increased by 1.8%, while Solana (SOL-USD) rose by 0.2%.

Dogecoin (DOGE-USD) dipped by 0.7%, and Cardano (ADA-USD) fell by 3.1%.

The total market value of the cryptocurrency industry fell by 0.9% in the past 24 hours to $2.94 trillion, with the trading volume rising by 41.8% to $68.04 billion.

Key Events

• Trump Plans to Raise Tens of Millions of Dollars from Cryptocurrencies and Meme Coins This Month: U.S. President Donald Trump will attend two cryptocurrency-themed dinners this month. One is for wealthy political donors, and the other is for the new upstarts in the meme coin field. The market expects that these two events will bring in tens of millions of dollars for him.The first dinner is scheduled to be held on Monday, and each seat is priced as high as $1.5 million, setting a record as the most expensive dinner in the history of U.S. presidential fundraising events.The second dinner will be held on May 22nd. Participants do not need to pay in cash. They only need to hold the $TRUMP token to get the opportunity to interact with Trump's inner circle.

Market Events and Most Anticipated Earnings Releases