Positive employment data offsets economic concerns, Dow Jones rises for four consecutive days, NVIDIA up nearly 3%, market value jumps to first place, gold retreats, and crude oil continues to rise

Strong employment data alleviated the OECD's concerns about the potential economic damage from President Trump's tariffs, with chip stocks led by NVIDIA driving the U.S. stock market higher, resulting in the Dow Jones rising for four consecutive days. NVIDIA's market value surged to first place for the first time in over four months. The dollar rebounded from last week's low, while gold prices fell accordingly.

Among the various sectors of the U.S. stock market, technology stocks saw the largest gains, while communication services stocks led the decline:

• Pre-market U.S. stocks, the OECD forecasts U.S. economic growth at only 1.6%, a significant downgrade from the previous estimate of 2.2%. This is the OECD's second downgrade of global economic forecasts this year, stating that the U.S. is the first to bear the brunt of Trump's tariff storm. Concerns about economic growth intensified, leading to a decline in U.S. stocks before the market opened. Constellation rose over 9% in pre-market trading, reportedly Meta will purchase nuclear energy from the company, with other uranium-related stocks following suit.

• Early U.S. stock market, April JOLTS job openings in the U.S. reached 7.391 million, exceeding expectations and the revised previous value, supporting the Federal Reserve's claims about a strong labor market. Following the data release, the three major U.S. stock indices rose collectively, the dollar index continued to climb, and spot gold fell by 1.43%, hitting a daily low.

• Late U.S. stock market, uranium-related stocks gave back early gains, with Constellation and Meta both closing lower. Discount retailer Dollar General's stock rose nearly 16%, marking its best single-day performance in history. The company reported better-than-expected first-quarter results and raised its full-year revenue growth forecast, as price increases triggered by tariffs are enhancing the appeal of discount chains.

• After-hours U.S. stocks, the Federal Reserve lifted asset cap restrictions on Wells Fargo, with Wells Fargo's stock rising by as much as 10% in after-hours trading.

On Tuesday, all three major U.S. stock indices rose, with chip stocks outperforming the market for two consecutive days. NVIDIA led the Dow Jones, with its market value climbing to $3.444 trillion for the first time in over four months, surpassing Microsoft's $3.441 trillion. Nuclear power stock Constellation initially rose over 9% before turning lower. The China concept index rose for two consecutive days, with Nio reversing an initial decline of about 4.5% to close up 0.28%, despite the company's first-quarter revenue falling short of expectations.

U.S. stock indices:

• The S&P 500 index closed up 34.43 points, an increase of 0.58%, at 5970.37 points

• The Dow Jones Industrial Average closed up 214.16 points, an increase of 0.51%, at 42,519.64 points.

• The Nasdaq closed up 156.34 points, an increase of 0.81%, at 19,398.96 points. The Nasdaq 100 Index closed up 170.83 points, an increase of 0.80%, at 21,662.58 points.

• The Russell 2000 Index closed up 1.59%, at 2,102.98 points.

• The VIX (Volatility Index) closed down 3.65%, at 17.69.

The semiconductor ETF rose over 2.2%, leading U.S. sector ETFs:

• The semiconductor ETF closed up 2.26%, regional bank ETF, technology sector ETF, banking sector ETF, global technology stock index ETF, and energy sector ETF rose between 1.58% and 1.19%, while the internet stock index ETF rose 0.46%.

"Tech Seven Sisters":

• The index of the seven tech giants in the U.S. (Magnificent 7) rose 0.55%, at 163.30 points.

• NVIDIA closed up 2.93%, Apple rose 0.78%, Tesla rose 0.46%, Microsoft rose 0.22%, while Amazon closed down 0.45%, Meta Platforms fell 0.60%, and Google A fell 1.69%.

• Currently, NVIDIA (closing) has a market capitalization of $3.45 trillion, Microsoft $3.44 trillion, Apple $3.04 trillion, and Amazon and Google A slightly over $2 trillion.

Chip stocks:

• The Philadelphia Semiconductor Index closed up 2.72%, at 4,964.41 points.

• AMD closed up 2.34%, and TSMC ADR rose 1.42%.

AI concept stocks:

• Tempus AI closed down 2.38%, Applovin closed down 0.85%, and Palantir rose 0.86%.

Chinese concept stocks:

• The Nasdaq Golden Dragon China Index closed up 0.56%, at 7,109.72 points.

• Popular Chinese concept stocks such as Li Auto rose 6.3%, NetEase, Xiaomi, and Pinduoduo rose up to 2.5%, XPeng rose 1.8%, while WeRide and Bilibili fell over 2%, and Pony.ai fell 21.8%.

Other individual stocks:

• Berkshire Hathaway Class B shares, under Warren Buffett, closed down 0.99%

• Discount retailer Dollar General (DG) saw its stock price rise nearly 16% after its first-quarter performance exceeded expectations. Price increases triggered by tariffs are enhancing the appeal of discount chains.

The Eurozone blue-chip index rose nearly 0.4%, with Stellantis, Airbus, and SAP each up about 2%. The German index rose nearly 0.7%, while the Danish index retreated about 1.3%.

Pan-European Stock Market:

• The European STOXX 600 index closed up 0.09% at 548.44 points.

• The Eurozone STOXX 50 index closed up 0.38% at 5375.70 points.

National Indices:

• The German DAX 30 index closed up 0.67% at 24091.62 points.

• The French CAC 40 index closed up 0.34% at 7763.84 points.

• The UK FTSE 100 index closed up 0.15% at 8787.02 points.

Sectors and Stocks:

• Among Eurozone blue chips, Stellantis rose 2.58%, Airbus rose 2.37%, SAP rose 1.99%, BMW rose 1.86%, and Infineon rose 1.57% to rank fifth.

• Among all constituents of the European STOXX 600 index, CD Projekt rose 6.77%, UBS Group rose 5.32%, and Ansys rose 4.83% to rank third.

Atlanta Federal Reserve President Bostic still believes there is a chance for a rate cut by the FOMC in 2025. The job vacancy employment indicator favored by the Federal Reserve remains strong, and U.S. Treasury yields have risen. The 10-year UK bond yield fell about 3 basis points, while German bond prices surged and then retreated, as investors focused on strong demand for Japanese and UK government bond auctions.

U.S. Treasuries:

• At the New York close, the yield on the benchmark 10-year U.S. Treasury rose by 1.39 basis points to 4.4537%, trading within a range of 4.4043%-4.4716% during the day, showing an overall V-shaped reversal after the release of the job vacancy employment indicator favored by the Federal Reserve at 22:00 Beijing time.

• The yield on the 2-year U.S. Treasury rose by 1.45 basis points to 3.9511%, trading within a range of 3.9098%-3.9696% during the day, experiencing a significant surge after the job vacancy data was released.

European Bonds:

• In the European market's late trading, the yield on Germany's 10-year government bonds rose by 0.1 basis points to 2.525%, trading within a range of 2.485%-2.528% during the day.

• The yield on the UK's 10-year government bonds fell by 2.9 basis points to 4.638%, remaining in a low oscillation state after a "gap down" opening, hitting a daily low of 4.599% at 21:52 Beijing time.

• The yields on France and Spain's 10-year government bonds rose by 0.3 basis points, Greece's 10-year government bond yield rose by 0.03 basis points, while Italy's 10-year government bond yield fell by 0.5 basis points.

The US dollar rebounded today, supported by last week's low. Bitcoin fluctuated widely within the range of $104,800 to $106,800.

US Dollar:

• In late New York trading, the ICE Dollar Index rose by 0.54% to 99.240 points, trading within a range of 98.583-99.328 points throughout the day.

• The Bloomberg Dollar Index rose by 0.38% to 1213.36 points, with a trading range of 1207.93-1214.67 points during the day.

Non-US Currencies:

• In late New York trading, the euro fell by 0.62% against the US dollar, the British pound fell by 0.19% against the US dollar, and the US dollar rose by 0.82% against the Swiss franc.

• Among commodity currencies, the Australian dollar fell by 0.50% against the US dollar, the New Zealand dollar fell by 0.61% against the US dollar, and the US dollar rose by 0.05% against the Canadian dollar.

Japanese Yen:

• In late New York trading, the US dollar rose by 0.92% against the Japanese yen, reporting 144.02 yen, with a trading range of 142.38-144.11 yen during the day.

• The euro rose by 0.28% against the Japanese yen, and the British pound rose by 0.73% against the Japanese yen.

Offshore Renminbi:

• In late New York trading, the offshore renminbi was reported at 7.1917 against the US dollar, up 199 points from Monday's New York close, trading within a range of 7.2110-7.1856 yuan during the day.

Cryptocurrency:

• In late New York trading, spot Bitcoin rose over 0.83% to $105,800.

Due to geopolitical tensions and strong labor market signals driving prices up, WTI crude oil futures closed up over 1.4%, breaking through $63 per barrel, while New York natural gas rose over 0.7%.

Crude Oil:

• WTI July crude oil futures closed up $0.89, an increase of over 1.42%, reporting $63.41 per barrel

• Brent August crude oil futures rose by $1.00, an increase of 1.55%, closing at $65.63 per barrel.

Natural Gas:

• NYMEX July natural gas futures rose by approximately 0.76%, closing at $3.7220 per million British thermal units.

Due to the rebound of the US dollar, spot gold attempted to rise above $3,400 but failed, subsequently falling over 0.8%. COMEX copper futures rose, experiencing a V-shaped reversal throughout the day, dropping to $4.7185 at 13:30, refreshing the daily low.

Gold:

• At the New York close, spot gold fell by 0.82%, closing at $3,353.88 per ounce, and slightly rose to $3,392.20 at 07:26 Beijing time, refreshing the daily high, before continuing to decline.

• COMEX gold futures fell by 0.58%, closing at $3,377.40 per ounce, with an intraday trading range of $3,417.80 to $3,357.20.

Silver:

• At the New York close, spot silver fell by 0.73%, closing at $34.5085 per ounce, significantly rebounding from the daily low of $33.9665 refreshed at 11:27.

• COMEX silver futures were roughly flat, closing at $34.690 per ounce, with a daily low of $34.165 refreshed at 11:27.

Other Metals:

• At the New York close, COMEX copper futures rose by 0.13%, closing at $4.8650 per pound, experiencing a V-shaped reversal throughout the day.

• LME copper futures rose by $18, closing at $9,634 per ton.

• LME tin futures rose by $669, closing at $31,378 per ton. LME nickel futures fell by $99, closing at $15,438 per ton. LME zinc futures rose by $8, closing at $2,706 per ton