U.S. stocks closed slightly higher on Monday, with the S&P 500 and Nasdaq Composite reaching new record levels. Market sentiment was tempered by uncertainty in the Middle East, as President Trump rejected a peace proposal from Iran over the weekend, calling it "completely unacceptable." This move pushed oil prices up approximately 3%, with rising energy costs adding further pressure to equity markets.
【U.S. Stocks】
At the close, the Dow Jones Industrial Average rose 95.31 points, or 0.19%, to 49,704.47. The Nasdaq Composite gained 27.05 points, or 0.10%, to 26,274.13. The S&P 500 added 13.91 points, or 0.19%, to finish at 7,412.84.
Several semiconductor stocks achieved record closing highs.
【European Stocks】 Germany's DAX 30 index rose 38.36 points, or 0.16%, to 24,345.78. The UK's FTSE 100 index gained 31.25 points, or 0.31%, to 10,264.32. France's CAC 40 index fell 56.19 points, or 0.69%, to 8,056.38. The Euro Stoxx 50 index declined 19.38 points, or 0.33%, to 5,892.15. Spain's IBEX 35 index dropped 47.36 points, or 0.26%, to 17,842.04. Italy's FTSE MIB index climbed 365.96 points, or 0.74%, to 49,655.50.
【Asian Stocks】 Japan's Nikkei 225 index fell 0.47%. South Korea's KOSPI index rose 4.32%. India's Sensex index declined 1.7%. Singapore's Straits Times index gained 0.42%.
【U.S. Dollar Index】 The U.S. Dollar Index, which measures the greenback against a basket of six major currencies, rose 0.06% to settle at 97.955. By the end of New York trading, 1 euro traded at $1.1775, down from $1.1778 in the previous session. 1 British pound traded at $1.3629, up from $1.3622. 1 U.S. dollar bought 157.21 Japanese yen, up from 156.71 yen. 1 U.S. dollar bought 0.7782 Swiss francs, up from 0.7766 francs. 1 U.S. dollar bought 1.3673 Canadian dollars, down from 1.3681. 1 U.S. dollar bought 9.2235 Swedish kronor, down from 9.2323.
【Cryptocurrencies】 Bitcoin rose over 1%, surpassing $82,000. Ethereum edged slightly higher, trading at $2,344.42.
【Crude Oil】 The price of light, sweet crude for June delivery on the NYMEX rose $2.65 to settle at $98.07 per barrel, a gain of 2.78%. The price of Brent crude for July delivery on the ICE rose $2.92 to settle at $104.21 per barrel, a gain of 2.88%.
【Precious Metals】 Spot gold settled at $4,735.26 per ounce. Spot silver settled at $86.103 per ounce.
【Macro News】 Trump Demands Investigation into Media Leaks. According to reports, U.S. government officials revealed that President Trump privately complained to Acting Attorney General Todd Branch last month about media leaks following the Iran conflict, prompting the Justice Department to aggressively pursue an investigation. One official stated that Branch pledged to seek subpoenas, specifically targeting the records of journalists involved in sensitive national security reporting. Another government official said that during a meeting, Trump handed Branch a stack of news articles he and other senior officials deemed a threat to national security, accompanied by a note with the word "treason." Trump was reportedly particularly angered by articles detailing his decision-making process regarding the war and the advice advisors gave him during deliberations. Officials noted Trump was especially incensed by an April 7th media report that detailed how Israeli Prime Minister Netanyahu presented a plan to bomb Iran to Trump, vividly disclosing high-level staff meetings on the topic, including those held in the highly classified Situation Room. Notably, the media outlet that reported the story also received a subpoena dated March 4th.
Iranian Parliament Speaker: "14-Point Proposal" is Irreplaceable. In the early hours of the 12th local time, Iranian Parliament Speaker Mohammad Bagher Ghalibaf stated on social media that there is no alternative to accepting the rights of the Iranian people as stipulated in Iran's "14-point proposal." He said any other approach would be fruitless and lead to repeated failures. He also noted that the longer the delay, the greater the cost borne by American taxpayers. On May 2nd, Iran's Tasnim News Agency disclosed the contents of a new negotiation proposal Iran recently conveyed to the U.S. via Pakistan, consisting of 14 points focused on "ending the war." Key points include ensuring no further military aggression, withdrawal of U.S. forces from areas around Iran, lifting the maritime blockade, unfreezing Iranian assets, payment of compensation, lifting sanctions, achieving peace on all fronts (including Lebanon), and establishing a new management mechanism for the Strait of Hormuz. U.S. President Trump stated the same day that he would soon evaluate Iran's new negotiation proposal but "could not imagine" it being "acceptable."
Media Reveals UAE Airstrike on Iranian Refinery in Early April. According to reports, multiple informed sources stated that the United Arab Emirates (UAE) has carried out military strikes against Iran. The UAE has been a primary target for Iran in this conflict. Possessing Western-made fighter jets and surveillance networks, these attacks indicate the country is now more willing to deploy these assets to protect its economic strength and expanding influence in the Middle East. The sources said the UAE has not publicly acknowledged these strikes, which included an attack on a refinery located on Iran's Lavan Island in the Persian Gulf. The attack occurred in early April, around the time Trump announced a ceasefire agreement after five weeks of aerial operations. It sparked a major fire and halted most of the refinery's production capacity. Iran stated at the time that the refinery was attacked by an enemy and responded with intensive missile and drone strikes against the UAE and Kuwait. One source stated the U.S. was not displeased with the attack because the ceasefire was not yet truly stable at the time, and the U.S. privately welcomed the participation of the UAE and any other Gulf state wishing to join operations against Iran.
U.S. Existing Home Sales Growth Falls Short in April, Though Improving Affordability Provides Some Support. U.S. existing home sales growth in April fell short of expectations, suggesting the housing market may struggle to rebound significantly amid sustained high mortgage rates and inflation squeezing household budgets. The National Association of Realtors (NAR) reported Monday that existing home sales rose 0.2% month-over-month in April, with a seasonally adjusted annual rate of 4.02 million units, compared to an expected 4.05 million. NAR Chief Economist Lawrence Yun stated, "Despite mixed macroeconomic signals, with the stock market at record highs and consumer confidence at historical lows, continued improvement in housing affordability is providing some support for sales." NAR data showed the Housing Affordability Index rose to 110.6 in April from 101.4 a year earlier. The median existing-home price for the month was $417,700, a 0.9% increase from the previous year. Regarding inventory, the supply of existing homes increased 5.8% to 1.47 million units but remained well below pre-pandemic levels; it was up 1.4% compared to the same period last year. Yun added, "Inventory remains tight. While multiple offers are not as intense as a few years ago, they still exist. At the same time, homes are staying on the market longer, indicating consumers are being more deliberate in their decisions."
【Analyst Ratings】
UBS Group: Downgraded Dell (DELL.US) from Buy to Neutral; raised the price target from $167 to $243.
Deutsche Bank: Raised the price target for
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