Trade agreement breakthrough, Trump calls to "buy", US stocks rise for two consecutive days, Bitcoin breaks through the 100,000 mark, US Treasury bonds plunge, crude oil rebounds, gold falls again

The UK and the US have reached an agreement on tariff agreements, Trump is back to "call the shots," risk appetite is warming up, US stocks are accelerating their rise, the US dollar index has risen above the 100 mark, and Bitcoin has broken through the $100,000 barrier. US Treasury bonds plunged during the session, and gold further declined.

Boosted by favorable trade news, all three major US stock indices rose, with most technology stocks, chip stocks, and AI concept stocks increasing:

• In pre-market trading, according to Xinhua News Agency, on the 8th local time, the UK and the US have reached an agreement on the terms of the tariff trade agreement. However, many details of the agreement are still to be finalized, and the 10% so-called "reciprocal tariff" previously imposed by the US has not been canceled. All three major US stock indices rose, with the Nasdaq initially rising over 1.1%.

• Following the news of the UK-US tariff agreement, the Bank of England cut interest rates as scheduled in May, and the British pound fluctuated significantly against the US dollar, consolidating around the 1.3330 level, while the two-year UK bond yield rose by more than 10 basis points.

• In early trading, Trump stated that if the trade agreement could achieve results combined with tax cuts, "you better go out and buy stocks now." After his speech, the three major US stock indices further rose, with the S&P 500 up nearly 1.6% at midday and the Nasdaq rising by 2% at one point. Investor risk appetite improved, with short- and medium-term US Treasury yields rising by more than 10 basis points.

• In late trading, reports indicated that Trump would increase taxes on high-income earners, which dragged down the overall stock market, and the three major indices retraced some of their gains. During the day, the US dollar index remained above the 100 mark, while non-US currencies generally declined.

On Thursday, US stocks rose for two consecutive days, with the seven tech giants experiencing a pullback. Google A initially rebounded by about 2%, and Tesla rose over 3.8% at the start. Most chip stocks increased, with AMD rising over 4.8% at one point, and Intel initially rising about 4% before pulling back. After earnings reports, AppLovin rose nearly 12%, quantum computing stock D-Wave surged 51%, while Arm fell over 6%.

Major US stock indices:

• The S&P 500 index closed up 32.66 points, an increase of 0.58%, at 5663.94 points.

• The Dow Jones Industrial Average closed up 254.48 points, an increase of 0.62%, at 41368.45 points

• The Nasdaq Composite rose by 189.98 points, an increase of 1.07%, closing at 17,928.14 points. The Nasdaq-100 Index rose by 195.59 points, an increase of 0.98%, closing at 20,063.57 points.

• The Russell 2000 Index rose by 1.85%, closing at 2,026.41 points.

• The VIX (Volatility Index) fell by 4.67%, closing at 22.45.

U.S. stock sector ETFs:

• The Global Airlines ETF rose by 3.31%, the Regional Banks ETF rose by 2.41%, and the Banking ETF rose by 1.99%.

• The Energy ETF, Internet Stocks Index ETF, and Consumer Discretionary ETF rose by up to 1.32%, while the Technology Sector ETF and Semiconductor ETF rose by at least 0.88%, and the Healthcare ETF fell by 0.9%.

"Magnificent Seven" performed excellently:

• The index of the seven major U.S. tech stocks (Magnificent 7) rose by 1.32%.

• Tesla rose by 3.11%, Alphabet - A rose by 1.92%, Amazon rose by 1.79%, Microsoft rose by 1.11%, Apple rose by 0.63%, and NVIDIA and Meta Platforms rose by 0.26% and 0.20%, respectively.

Chip stocks:

• The Philadelphia Semiconductor Index rose by 1.00%, closing at 4,430.44 points.

• AMD rose by 1.34%, and TSMC ADR rose by 0.39%.

• Microchip Technology (MCHP), a U.S. manufacturer of microcontrollers, memory, and analog semiconductors, rose by 3.87% in after-hours trading. Microchip's adjusted EPS for the fourth fiscal quarter was $0.11, exceeding analyst expectations.

AI concept stocks:

• Tempus AI rose by 10.99%, while Advanced Micro Devices fell by 1.14%.

• AppLovin rose by 11.88%, with the company exceeding expectations in its first-quarter performance and agreeing to sell its gaming division.

Chinese concept stocks:

• The Nasdaq Golden Dragon China Index rose by 0.97%, closing at 7,099.81 points.

• Popular Chinese concept stocks such as Atour rose by 6.84%, Miniso rose by 4.87%, JinkoSolar rose by 3.73%, Li Auto rose by 3.58%, and Huazhu, ZEEKR, and Nio rose by at least 3.13%.

Other individual stocks:

• D-Wave Quantum surged by 51.23% at closing, marking its best single-day performance since May 2023

• Coinbase's Q1 report is disappointing, with shares falling over 3% in after-hours trading.

• Pinterest's Q2 revenue guidance exceeds market expectations, with shares rising about 12% in after-hours trading.

After the Bank of England announced an interest rate cut and a trade agreement between the UK and the US surfaced, the FTSE 100 index (closely related to the export economy) closed down 0.32% at 8531.61 points, while the FTSE 250 index (focused on the UK domestic economy) closed up 0.59%. The German stock index rose 1%, the Italian banking index rose over 2.8%, while the UK stock index fell over 0.3%.

Pan-European stock market:

• The European STOXX 600 index closed up 0.40% at 535.63 points.

• The Eurozone STOXX 50 index closed up 1.12% at 5288.94 points.

National stock indices:

• The German DAX 30 index closed up 1.02% at 23352.69 points.

• The French CAC 40 index closed up 0.89% at 7694.44 points.

• After the Bank of England announced an interest rate cut and a trade agreement between the UK and the US surfaced, the FTSE 100 index (closely related to the export economy) closed down 0.32% at 8531.61 points, while the FTSE 250 index (focused on the UK domestic economy) closed up 0.59%.

Sectors and individual stocks:

• In terms of sectors, the STOXX 600 Industrial Products and Services index rose 2.01%, and the Technology index rose 1.64%.

• The constituent stocks of the FTSE 100 index showed mixed results, with Airtel Africa down 8.4%, Centrica down 7.57%, AstraZeneca down 3.52%, and Severn Trent down 3.15%.

After the trade agreement between the UK and the US surfaced, US President Trump spoke, improving investor risk appetite, with short- and medium-term US Treasury yields rising over 10 basis points. The yield on Greece's 10-year government bonds rose over 5 basis points, leading the Eurozone countries of France, Italy, and Spain. The combination of the Bank of England's interest rate cut and the UK-US trade agreement saw the yield on two-year UK government bonds rise over 12 basis points, hitting a daily high.

US Treasury:

• At the New York close, the yield on the US 10-year benchmark government bond rose 11.30 basis points to 4.3824%. Following the UK-US trade agreement and President Trump's speech, yields continued to rise, reaching a daily high of 4.3941%.

• The yield on the two-year US Treasury rose 10.57 basis points to 3.8822%.

Euro Bonds:

• At the end of the European market, the yield on Germany's 10-year government bonds rose by 6.1 basis points.

• At the end of the European market, the yield on the UK's 10-year government bonds increased by 8.67 basis points. The yield on Greece's 10-year government bonds rose by 5.3 basis points, reaching a daily high of 3.353%.

Risk appetite improved, and the US dollar index rose above the key level of 100. Non-US currencies fell broadly, with the yen declining by more than 1.5%. Bitcoin once again surpassed the $100,000 mark after nearly three months.

US Dollar:

• At the end of New York trading, the ICE US dollar index rose by 1.11%, reaching a daily high of 100.726 points.

• The Bloomberg US dollar index increased by 0.67%, reaching a daily high of 1231.23 points.

Non-US Currencies:

• At the end of New York trading, the euro fell by 0.66% against the US dollar, quoted at 1.1288.

• The British pound fell by 0.34% against the US dollar, quoted at 1.3246.

Yen:

• At the end of New York trading, the US dollar rose by 1.6% against the yen, reaching a high of 146.18 since April 10.

Offshore Renminbi:

• At the end of New York trading, the offshore renminbi was quoted at 7.2439 against the US dollar, down 156 points from Wednesday's New York close, trading overall in the range of 7.2167-7.2466.

Cryptocurrency:

• At the end of New York trading, spot Bitcoin surged by $6,000, quoted at $102,833.

Commodities also rose on optimistic sentiment, with WTI crude oil testing the $60 mark again. New York crude oil futures closed up nearly 3.2%.

Crude Oil:

• WTI June crude oil futures closed up $1.84, an increase of nearly 3.17%, quoted at $59.91 per barrel.

• Brent July crude oil futures closed up $1.72, an increase of over 2.81%, quoted at $62.84 per barrel.

Natural Gas:

• NYMEX June natural gas futures closed down 0.80%, quoted at $3.5920 per million British thermal units.

Spot gold once rose to $3,414.78, reaching a daily high. As risk appetite took precedence, gold fell by more than 1.7%, with New York gold futures down 2.3%, briefly falling below $3,300.

Gold:

• At the New York close, spot gold fell 1.73%, reported at $3,306.35 per ounce, and at 10:02 Beijing time, it briefly rose to $3,414.78, refreshing the daily high.

• COMEX gold futures fell 2.31%, reported at $3,313.50 per ounce, with an intraday trading range of $3,422.00 - $3,293.30.

Silver:

• At the New York close, spot silver was flat, reported at $32.4558 per ounce, and at 12:03, it rose to $32.9432, refreshing the daily high.

• COMEX silver futures fell 0.58%, reported at $32.6 per ounce.

Other Metals:

• At the New York close, COMEX copper futures fell 1.26%, reported at $4.6015 per pound.

• LME copper futures closed up $12, reported at $9,432 per ton. LME aluminum futures closed up $30, reported at $2,412 per ton. LME zinc futures closed up $2, reported at $2,619 per ton.

• LME tin futures closed up $241, reported at $31,877 per ton