anthitnguoigay
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Market Summary: U.S. Stocks Rise, Dollar Strengthens, Gold Drops as Trade Tensions Ease U.S
. financial
markets rally as the White House signals more conciliation on trade with China. President Donald Trump confirmed there are no plans to fire Fed Chairman Jerome Powell and hinted at the possibility of canceling tariffs. Treasury Secretary Scott Bessent described the current tariff level as "unsustainable", reinforcing hopes of easing US-China trade tensions.
Key Market Highlights:
. financial
markets rally as the White House signals more conciliation on trade with China. President Donald Trump confirmed there are no plans to fire Fed Chairman Jerome Powell and hinted at the possibility of canceling tariffs. Treasury Secretary Scott Bessent described the current tariff level as "unsustainable", reinforcing hopes of easing US-China trade tensions.
Key Market Highlights:
- U.S. stock market:
Nasdaq rose 2.5%, S&P 500 rose 1.67% and Dow Jones rose 1.07%. Notably, 75% of companies in the S&P 500 reported better-than-expected Q1 earnings. - Currency Markets:
The US Dollar Index (DXY) rose 0.297% to 99.86. The dollar rose sharply against the Japanese yen (+1.27%) and the Swiss franc (+1.32%), while the euro weakened by 0.86%. - Gold price:
Gold fell 3% to $3,281.60 an ounce, retreating from a record high of $3,500, as improved risk sentiment and higher U.S. Treasury yields reduced gold's appeal as a safe haven. - Oil prices:
WTI crude oil prices fell 2.04% on concerns about global demand, even as negotiations between the US and Iran showed signs of progress.
- The dollar can maintain its strength if the White House maintains a dovish stance on trade and Fed policy.
- The correction in gold prices may bring new investment opportunities for investors after the historic bull run.
- Commodity-linked currencies such as CAD and NOK remain under pressure due to volatile oil prices and uncertain global demand.
