ADDX GO Market Morning Wrap - 10th May

On Friday, Eastern Time, the three major stock indexes in the US had mixed performances. The Dow Jones Industrial Average slightly declined, while the S&P 500 Index and the Nasdaq Composite Index hovered around the flat-line.

 

By the close of trading, the Dow Jones Industrial Average fell 0.29%, closing at 41,249.38 points; the S&P 500 Index dropped 0.07%, ending at 5,659.91 points; and the Nasdaq Composite Index essentially closed flat (edging up 0.78 points), at 17,928.92 points.

 

Looking at the overall performance this week, the S&P 500 Index accumulated a decline of about 0.5%, the Nasdaq Composite Index fell approximately 0.3%, and the Dow Jones Industrial Average declined nearly 0.2%.

 

With the US and the UK reaching a trade agreement, investors hope that this will prompt the rapid conclusion of more trade deals. However, the 10% tariff currently set by the US on the UK may serve as a reference baseline for global trade negotiations.

 

In addition, investors need to pay close attention to the current geopolitical risks. As of the latest news at the time of writing, on the 10th, local time, Pakistan officially launched a military operation in response to the continuous provocations from India. It is reported that this operation was carried out against multiple targets within India, covering many areas across the country.

Key Events

• Trump Signs Announcement to Encourage Illegal Immigrants to Voluntarily Leave the US: The White House issued a statement saying that US President Trump signed an announcement that day, launching the "Return Home Program" to encourage illegal immigrants to voluntarily leave the US. The announcement offers illegal immigrants two options: either leave voluntarily with the support and financial assistance of the federal government, or face strict law enforcement and penalties.
• Mexico Officially Sues Google for Renaming the "Gulf of Mexico" as the "Gulf of the US": On Friday, May 9th, local time, Mexican President Cienbaum announced that the country has officially sued Google for ignoring Mexico's request and renaming the "Gulf of Mexico" as the "Gulf of the US" in the Google Maps service for US users.
• Bulgarian President Proposes a Referendum on Joining the Eurozone: Bulgarian President Radev said on the 9th that he has proposed to the National Assembly to hold a referendum on whether the country will join the eurozone in 2026.
• iPhone Product Line Said to be Greatly Expanded: Two New Launches a Year: According to sources this week, starting from the iPhone 18, Apple will enter a state of "launching new mobile phones twice a year".
• FedEx Director Appointed as the Postmaster General of the US: The Board of Governors of the US Postal Service appointed David Steiner, a director of FedEx, as the Postmaster General of the US.

Forex & Commodities

The settlement price of COMEX gold futures rose by $38, or 1.15%, to $3,344.0 per ounce.

 

International oil prices rose on the 9th.

 

By the close of trading that day, the price of light crude oil futures for June delivery on the New York Mercantile Exchange rose by $1.11, closing at $61.02 per barrel, an increase of 1.85%

 

The price of Brent crude oil futures for July delivery on the London market rose by $1.07, closing at $63.91 per barrel, an increase of 1.70%.

 

On Friday, May 9th, in New York, the US dollar index fell 0.21% to 100.4218 at the close, up 0.38% for the week. Most non-US currencies rose.