Tariffs affect market nerves, US stocks' upward momentum is suppressed, Tesla rises over 5%, Chinese concept stocks outperform the market again, gold and oil plummet

Tariff news is mixed, suppressing the rise of U.S. stocks, while the China concept index continues to outperform the market. U.S.-China trade relations are under scrutiny, and gold selling intensifies. The news that OPEC+ may accelerate production cuts hits international crude oil, causing a sharp drop during trading.

The U.S. stock market saw a high and then a pullback on Wednesday, with tariff news stirring market nerves:

• The previous day, on Tuesday, Trump stated he had no intention of firing Powell. According to China News Service, Trump claimed he would "significantly reduce" high tariffs on China, easing market tensions. U.S. stocks opened higher on Wednesday.

• In early trading, according to Securities Times, media reports indicated that the White House might ease tariff policies, pushing the three major U.S. indices to refresh their daily highs in early trading, with the Dow rising nearly 1190 points, up about 3%, the S&P rising over 3.4%, and the Nasdaq nearly 4.5%.

• Towards the end of the early session, U.S. Treasury Secretary Yellen mentioned the opportunity for a "significant" trade agreement between the two major economies, keeping the three major U.S. indices in an upward trend, with the Nasdaq rising over 4%, the S&P rising over 3%, and the Dow rising over 2%. However, Yellen later stated that Trump had not proposed lowering tariffs on any economy, and a comprehensive trade agreement between the two sides might take two to three years, with Trump not unilaterally lowering tariffs. The three indices retraced more than half of their gains during the lunch break.

After the tariff news, the U.S. dollar index rebounded sharply, rising over 1% from its low during the day, approaching the 100 mark. Prices of U.S. long-term bonds also rose, with the yield on 10-year Treasury bonds falling by 1.77 basis points to 4.3831%, having once dipped to 4.2472%, refreshing the daily low.

Investor optimism in the short term boosts risk appetite, with Bitcoin rising above $90,000 for the first time since early March, gaining over $3,000 during trading to break the $94,000 mark. Safe-haven assets like the yen and Swiss franc fluctuated over 1% during the day, while gold fell below $3,290 per ounce, with U.S. oil and futures gold dropping over 4% during trading.

On Wednesday, all three major U.S. stock indices rose, each closing up over 1%. The AI robotics and chip sectors led the U.S. stock industry, with Tempus AI rising 14.62%, and the strong Texas Instruments briefly rising nearly 6% after hours. The China concept index again outperformed the market, closing up nearly 3%, with XPeng rising over 7%.

Three major U.S. stock indices:

• The S&P 500 index closed up 88.10 points, an increase of 1.67%, at 5375.86 points.

• The Dow Jones Industrial Average closed up 419.59 points, an increase of 1.07%, at 39606.57 points.

• The Nasdaq closed up 407.63 points, an increase of 2.50%, at 16708.05 points. The Nasdaq 100 index closed up 416.85 points, an increase of 2.28%, at 18693.26 points

• The Russell 2000 Index closed up 1.53%, at 1919.14 points.

• The VIX index closed down 7.03%, at 28.42.

U.S. Sector ETFs:

• The Chip ETF rose by 3.27%, and the AI Robotics sector rose by over 3%.

• The U.S. photovoltaic sector fell by 2.18%, the Consumer Staples ETF fell by 0.55%, and the S&P Energy sector fell by 0.21%.

"Tech Seven Sisters":

• The Magnificent 7 index of U.S. tech giants rose by 3.18%, at 137.78 points.

• Tesla closed up 5.33%, Amazon rose 4.25%, Meta Platforms rose 4.02%, NVIDIA rose 3.67%, Google A rose 2.5%, Apple rose 2.24%, and Microsoft rose 1.97%.

Chip Stocks:

• The Philadelphia Semiconductor Index closed up 3.96%, at 3983.92 points.

• AMD closed up 4.72%, and TSMC ADR rose 4.19%.

AI Concept Stocks Surge:

• Applovin closed up 6.16%, and Tempus AI rose 14.62%.

Chinese Concept Stocks:

• The Nasdaq Golden Dragon China Index closed up 2.93%, at 6934.00 points.

• Among popular Chinese concept stocks, Yatsen Holding closed up 12.5%, Century Internet rose 8.62%, XPeng rose 7.34%, Kingsoft Cloud rose 7.18%, ZEEKR rose 5.06%, and Nio rose 4.8%.

Other Key Stocks:

• Berkshire Hathaway Class B shares, under Warren Buffett, rose 1.16%.

• The "Trump Tariff Losers" index rose 1.66%, at 80.77 points. Component stocks Neway rose 4.66%, Mattel rose 4.6%, and Rivian rose 3.87%.

• Eli Lilly rose 0.21%.

Major European stock indices all rose, with Germany's DAX rising over 3%. European mining stocks rose, and metal prices strengthened due to optimistic sentiment, while tariffs positively impacted European automotive manufacturing concept stocks, which generally closed higher.

Pan-European Stocks:

• The European STOXX 600 index closed up 1.78%, at 516.77 points.

• The Eurozone STOXX 50 index closed up 2.77%, at 5098.74 points.

National Indices Surge:

• The German DAX 30 index closed up 3.14%, at 21961.97 points

• The French CAC 40 index closed up 2.13%, at 7482.36 points.

• The UK FTSE 100 index closed up 0.90%, at 8403.18 points.

Sectors and Stocks:

• The German DAX index rose over 3.1%, and the Italian banking index rose 2.8%.

• The MSCI Nordic Countries Index rose 2%, marking the largest single-day increase since April 14, at 331.73 points, with the Nordic healthcare sector showing the largest gains. A.P. Moller-Maersk Class B shares rose 8.0%, leading the component stocks.

Today, U.S. Treasury yields remained flat, with short-term yields performing poorly again. The 2-year Treasury yield rose 5 basis points, while the 30-year Treasury yield fell 5 basis points.

U.S. Treasuries:

• At the New York close, the yield on the 10-year Treasury fell by 1.77 basis points to 4.3831%.

• The 2-year Treasury yield rose by 3.54 basis points to 3.8545%, with improved risk appetite briefly pushing the yield down to 3.7561%, refreshing the daily low.

European Bonds:

• At the European close, the yield on the 10-year German Treasury rose by 5.4 basis points to 2.497%.

• The 2-year German Treasury yield rose by 8.5 basis points to 1.746%.

• At the European close, the yields on the 10-year French and Italian Treasuries rose by over 2 basis points, the 10-year Spanish Treasury yield rose by 2.8 basis points, and the 10-year Greek Treasury yield rose by 2.5 basis points.

Influenced by Trump's remarks, the U.S. dollar surged today. Following tariff news, the offshore yuan briefly rose over 300 points, breaking through 7.28, while Bitcoin surged over $3,000 during the session, breaking the $94,000 mark.

U.S. Dollar:

• At the New York close, the ICE U.S. Dollar Index rose by 0.96%, refreshing the daily high to 99.901 points.

• The Bloomberg Dollar Index rose by 0.60%, refreshing the daily high to 1229.03 points, showing a U-shaped trend during the day.

Non-U.S. Currencies:

• The euro fell 0.93% against the U.S. dollar, at 1.1321; the British pound fell 0.58% against the U.S. dollar, at 1.3255; the U.S. dollar rose 1.37% against the Swiss franc, at 0.8302

• In commodity currency pairs, the Australian dollar against the US dollar is flat around 0.6360, the New Zealand dollar against the US dollar fell 0.41%, and the US dollar against the Canadian dollar rose 0.48%.

Japanese Yen:

• At the New York close, the US dollar against the Japanese yen rose 1.32%, reported at 143.41 yen, with an intraday trading range of 141.49-143.57 yen.

• The euro against the Japanese yen rose 0.40%, reported at 162.35 yen; the British pound against the Japanese yen rose 0.70%, reported at 190.083 yen.

Offshore Renminbi:

• At the New York close, the offshore renminbi against the US dollar was reported at 7.2850 yuan, an increase of 272 points compared to Wednesday's New York close, with an overall intraday trading range of 7.3159-7.2765 yuan.

Cryptocurrency:

• At the New York close, CME Bitcoin futures BTC main contract rose 2.28% compared to Tuesday's New York close, reported at 93,750 dollars.

• CME Ether futures DCR main contract rose 5.46%, reported at 1,797 dollars.

OPEC+ anxiety and a slight increase in crude oil inventories led to a sharp drop in oil prices today, with June WTI crude oil futures falling over 2%.

Crude Oil:

• WTI June crude oil futures closed down 1.40 dollars, a decline of nearly 2.20%, reported at 62.27 dollars/barrel.

• Brent June crude oil futures closed down 1.32 dollars, a decline of 1.96%, reported at 66.12 dollars/barrel.

Natural Gas:

• NYMEX May natural gas futures closed up nearly 0.50%, reported at 3.0220 dollars/million British thermal units.

Gold continued its weak momentum from yesterday, falling below 3,300 dollars again, with New York gold futures down over 3.4%, and gold and silver mining stocks broadly declined.

Gold:

• At the New York close, spot gold fell 2.69%, reported at 3,289.93 dollars/ounce.

• COMEX gold futures fell 3.45%, reported at 3,301.70 dollars/ounce, remaining in a downward trend throughout the day.

Silver:

• At the New York close, spot silver rose 3.32%, reported at 33.59 dollars/ounce

• COMEX silver futures rose 1.93%, closing at $33.560 per ounce.

Other Metals:

• At the New York close, COMEX copper futures fell 1.05%, closing at $4.8270 per pound.

• LME copper futures rose by $14, closing at $9,382 per ton. LME aluminum futures rose by $52, closing at $2,432 per ton. LME zinc futures rose by $44, closing at $2,640 per ton.

• LME tin futures rose by $186, closing at $31,314 per ton. LME lead futures rose by $22, closing at $1,946 per ton