On Monday, April 29, Eastern time, the three major U.S. stock indexes closed slightly higher, and this week the market focused on the April non-farm payrolls data and the Federal Reserve's monetary policy meeting.
The yen has staged a "roller coaster" against the dollar, first plummeting and then soaring. The market speculated that the Japanese authorities had intervened, and Japan's top foreign exchange official, Mato Kanda, said he would not comment.
Tesla's stock price saw an "epic" rally, closing up 15.31%.
West Texas Intermediate (WTI) crude futures closed lower on Monday as markets focused on the possibility of a ceasefire agreement between the Palestinians and Israelis.
The three major stock indexes closed slightly higher, and this week the Federal Reserve will announce its latest interest rate decision
The Dow rose 147.40 points, or 0.39 percent, to 38,387.06, the Nasdaq added 55.18 points, or 0.35 percent, to 15,983.08 and the S&P 500 added 16.21 points, or 0.32 percent, to 5,116.17.
Hong Kong Wind News Agency reported that on April 29, the U.S. Treasury Department released a quarterly borrowing forecast report showing that it is expected that borrowing demand from April to June is expected to be raised from $202 billion to $243 billion, reiterating that by the end of June, the fiscal cash balance will remain at the level of $750 billion.
U.S. stocks have performed well so far. More than 45% of S&P 500 companies have reported earnings so far, with about three-quarters of them beating expectations, according to FactSet data.
Monetary policy remains the focus of market attention this week. The Federal Reserve will hold a monetary policy meeting starting on Tuesday and release its latest interest rate decision on Wednesday.
On Friday, the U.S. Department of Labor will release the April non-farm payrolls report. The market will dig deeper into the study data to get a full picture of the extent to which the labor market is influencing the monetary policy decision-making process, as well as to assess the health of the U.S. economy.
The Japanese yen staged a "roller coaster" against the US dollar
Earlier on Monday, the yen briefly fell below the 160 mark against the dollar, the lowest since April 1990. The yen quickly rebounded from its lows in the afternoon and rose to 155. The yen fluctuated by more than 500 points during the day.
In this regard, speculation is rife in the market about the intervention of the Japanese authorities in the yen. James Malcolm, head of FX strategy at UBS, said, "This looks like an intervention, but it appears to be less than the two interventions in 2022." ”
Benjamin Shatil, senior Japan economist at JPMorgan Chase & Co., believes that if the Japanese authorities intervene, the effect may be limited, as investors will continue to take advantage of Japan's low interest rates and use the yen as a funding currency.
Regarding market speculation, the top head of foreign exchange at the Ministry of Finance of Japan, Mato Kanda, said that he would not comment. However, he mentioned that appropriate measures will continue to be taken to deal with excessive foreign exchange volatility.
Tesla skyrocketed, and tech stocks mostly fell
TECHNOLOGY STOCKS MOSTLY FELL, WIND'S U.S. TAMAMA TECHNOLOGY INDEX ROSE 0.24%, TESLA ROSE 15.31%, THE BIGGEST ONE-DAY GAIN SINCE MARCH 2020, AMAZON ROSE 0.75%, APPLE ROSE 2.48%, NETFLIX FELL 0.31%, GOOGLE FELL 3.37%, FACEBOOK FELL 2.41%, AND MICROSOFT FELL 1%.
Regarding the recent news of Tesla's full self-driving (FSD) entry into China, Tesla responded that there is no timetable for FSD to enter China. Tesla will deploy its FSD self-driving service for the Chinese market based on lane-level navigation and maps provided by Baidu, the sources said.
In other news, the U.S. auto safety regulator announced that it had opened a new investigation into Tesla. The survey covers Model Y, X, S, 3 and Cybertruck vehicles with Autopilot manufactured in the U.S. from 2012 to 2024.
According to Bloomberg, the European Union is currently requiring Apple's iPads to follow the same regulatory strategy as the iPhone, and Apple is said to have six months to "adjust". Once the adjustment is complete, users in the EU will also be able to freely use third-party app stores/NFC features on Apple iPads and be able to uninstall more in-system apps.
The United States is preparing to establish a new AI security committee, which will be joined by OpenAI founder Sam Altman, NVIDIA CEO Jensen Huang, Microsoft CEO Nadella and other tech giants.
WTI crude oil futures closed lower on Monday
West Texas Intermediate (WTI) crude futures for June delivery closed down $1.22, or 1.45%, at $82.63 a barrel on Monday.
The market is concerned about the development of the situation in the Middle East, and if the Palestinians and Israelis succeed in a ceasefire, the geopolitical risks affecting oil prices will be reduced.
According to Xinhua News Agency, Israeli Foreign Minister Katz said on April 27 that if a ceasefire agreement is reached with the Palestinian Islamic Resistance Movement (Hamas), the Israeli army will suspend the launch of the ground operation in the southern Gaza Strip city of Rafah.
Chinese assets performed well
Most of the popular Chinese concept stocks rose, with GDS up 9.54%, VNET up 8.86%, Shanda Technology up 8.78%, Canadian Solar up 8.51%, Baidu up 5.62%, Dada Group up 4.48%, Canaan Technology up 3.96%, Melco Resorts & Entertainment up 3.79%, and Beike up 3.57%.
In terms of declines, Daqo New Energy fell 9.01%, Good Future fell 5.52%, Dajian Yuncang fell 3.88%, Atour fell 3.54%, and Lufax Holdings fell 3.04%.
China's new energy vehicle stocks rose collectively, with NIO up 2.67%, Xpeng Motors up 3.25%, and Li Auto up 7.63%.
(Compiled by Zhao Xinyi)
Editor: Captain
Review: Muyu