In pre-market trading, U.S. tech stocks rose broadly, European stocks opened flat, and the Federal Reserve's dovish signals boosted market sentiment
U.S. tech stocks rose broadly in pre-market trading, while European stocks opened flat. The Federal Reserve kept interest rates unchanged, hinting at room for rate cuts, which boosted market sentiment. NVIDIA plans to purchase U.S.-made chips over the next four years to enhance market confidence. Oil prices continued to rise, gold prices fluctuated, and copper prices broke through $10,000 per ton. Most Chinese concept stocks fell, with Alibaba down about 3% and JD.com down about 4%. U.S. Treasury yields changed little, and the dollar rose against the Swiss franc in the short term. The Federal Reserve lowered its economic growth forecast while raising its inflation forecast, expecting to cut rates by 0.5 percentage points
On the 20th, Thursday, U.S. stock futures saw a broad rise in technology stocks, while most Chinese concept stocks fell. European stocks opened flat.
Last night, the Federal Reserve kept interest rates unchanged and hinted at the possibility of rate cuts later this year, boosting market sentiment. Reports indicated that NVIDIA plans to invest hundreds of billions of dollars over the next four years to procure chips and electronic products made in the U.S., further enhancing market confidence.
Oil prices rose for the second consecutive day. Gold prices fluctuated after reaching a new high. Copper prices broke through the $10,000 per ton mark earlier today amid global trade turmoil.
- The Euro Stoxx 50 index opened flat, the German DAX index opened flat, the UK FTSE 100 index rose 0.1%, and the French CAC 40 index fell 0.1%.
- In U.S. stock futures, most Chinese concept stocks fell, with Alibaba down about 3% and JD.com down about 4%.
- Technology stocks broadly rose, with Tesla up about 2%, AMD up about 2%, and NVIDIA up about 2%.
- The yield on the 10-year U.S. Treasury bond changed little at 4.24%. The yield on the 10-year German government bond fell 3 basis points to 2.78%.
- The U.S. dollar against the Swiss franc briefly rose about 35 points, currently at 0.8802. This follows a 25 basis point rate cut by the Swiss National Bank, in line with expectations.
- The British pound fell 0.2% to $1.2978. The Bank of England will announce its interest rate decision tonight.
- Brent crude oil rose 0.6% to $71.19 per barrel.
- LME copper is currently reported at $9,977 per ton.
- Spot gold fell 0.2% to $3,041.99 per ounce.
According to new economic forecasts, Federal Reserve officials have lowered their expectations for economic growth this year while raising inflation expectations. Bloomberg reports that forecasts also indicate officials continue to expect a 0.5 percentage point rate cut this year, which implies two cuts of 25 basis points each. Ipek Ozkardeskaya, a senior analyst at Credit Suisse, stated:
“The Federal Reserve has elegantly downplayed the long-term impact of rising inflation while lowering its growth forecast. This decision is more dovish than expected.”
【17:10】
LME copper is currently reported at $9,977 per ton.
The onshore RMB against the U.S. dollar was officially reported at 7.2383 at 16:30 Beijing time, down 20 points from the previous trading day's official closing price and down 103 points from the previous night's closing price.
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