China Fund News Taylor
Brothers and sisters, tonight is a brief look at the overseas news, the gold has dived!
Gold and silver dives
On the evening of April 22, international gold and silver prices fell sharply, with gold falling more than 2% and silver falling more than 4%.
Gold prices retreated as geopolitical tensions in the Middle East eased, safe-haven demand declined, and traders focused on US PCE data due this week, analysts said. Nicholas Frappell, global head of institutional markets at ABC Refinery in Sydney, said the Iranian government's downplay to Israel's response and said it would not retaliate deprived the market of some of its risk premium. Today's bearish sentiment on oil also supports the idea of easing tensions in the Middle East.
CITIC Futures believes that Israel's counterattack has avoided the "key point" of the dispute between the two sides, and the strength is not large. Iran also intends to downplay the conflict, so the conflict between the two sides may tend to taper as a result.
On the news, Israel and Iran attacking each other have raised fears of a full-scale war in the region, while Iran has downplayed the impact and significance of Israel's recent attacks. A spokesman for the Iranian Foreign Ministry called the Israeli attack insignificant and militarily worthless.
In addition, the U.S. gold sector was generally lower. AngloGold was the worst performer with a 7% decline. Harmony Gold fell more than 6%, and Pan American Silver, Barak Gold, and Gold Fields fell together.
U.S. stocks rebounded in shock
The three major U.S. stock indexes rebounded. The S&P 500 and Nasdaq Composite fell 3.05% and 5.52%, respectively, last week, both for six consecutive days of decline. The Nasdaq fell 2% on Friday alone, with chip giant Nvidia down 10%, leading the tech giants.
Jeremy Straub, chief executive officer and chief investment officer of Coastal Wealth, said this week is crucial for the market as many big tech companies are set to release their latest earnings reports and the main inflation data that the Fed is watching will be released on Friday. These data could redefine the near-term direction of the stock market. U.S. stocks have fallen about 5% from their March highs.
This week, investors will usher in a number of important earnings reports, including the Big Seven of technology stocks.
Companies such as Tesla, Meta Platforms, Microsoft and Google's parent company, Alphabet, are all set to report earnings this week. Among them, Tesla released its earnings report after the market opened on Tuesday, Facebook's parent company Meta Platforms on Wednesday, and Apple, Intel and Microsoft released their earnings on Thursday.
Tesla shares fell nearly 4% after the electric car giant slashed global car prices after first-quarter deliveries fell for the first time in nearly four years.
Top investment experts gathered at the ETF 20th Anniversary Forum to discuss the opportunities and challenges of ETF development
See you in Shenzhen on April 23
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