[US Stocks]At the close, the Dow Jones Industrial Average rose 137.33 points, or 0.32%, to 42,792.07. The Nasdaq rose 4.36 points, or 0.02%, to 19,215.46. The S&P 500 rose 5.22 points, or 0.09%, to 5,963.60.Tesla(TSLA.US) fell more than 2%Apple(AAPL.US) fell 1%.Novavax Pharma(NVAX.US) rose 15%. The Nasdaq China Golden Dragon Index closed down 0.17%.Niu Electric(NIU.US) fell 12%.Zai Lab(ZLAB.US) rose more than 6%.
[European Stocks]Germany's DAX 30 index rose 180.54 points, or 0.76%, to 23,929.75.UK FTSE 100The index rose 15.41 points, or 0.18%, to 8699.97. France's CAC40 index fell 14.34 points, or 0.18%, to 7,872.35. The Euro Stoxx 50 index fell 2.88 points, or 0.05%, to 5,424.65. Spain's IBEX35 index rose 48.00 points, or 0.34%, to 14,097.00. Italy's FTSE MIB index fell 477.26 points, or 1.17%, to 40,179.00.
[Asia Pacific Stock Markets]The Nikkei 225 index fell 0.68%, South Korea's KOSPI index fell 0.89%, and Indonesia's composite index rose 0.49%.
[Foreign Exchange]Measuring the US dollar against six major currenciesthe US Dollar IndexIt fell 0.66% that day, closing at 100.426 at the close of trading. By the close of trading in New York, one euro was trading at $1.1235, up from $1.1152 the previous trading day. One pound was worth $1.3356, up from $1.3278 the previous trading day. One US dollar was worth 144.97 yen, down from 145.90 yen in the previous trading day; One US dollar was worth 0.8348 Swiss francs, down from 0.8390 Swiss francs in the previous trading day; One US dollar was worth 1.3959 Canadian dollars, down from 1.3985 Canadian dollars in the previous trading day; One US dollar was worth 9.6928 Swedish kronor, down from 9.7871 Swedish kronor in the previous trading day.
[Metal]Spot gold rose 0.88% to $3,231.90 an ounce, continuing its upward trend throughout the day, hitting a daily high of $3,249.82 at 08:26 Beijing time. COMEX gold futures rose 1.38% to $3,231.30 per ounce, and also hit a new daily high of $3,252.90 at 08:17. Last Friday (after the close of New York gold futures and US stocks), Moody's downgraded the United States' rating, meaning that the United States lost all AAA ratings from the three major international rating agencies. Spot silver rose 0.21% to $32.3629 per ounce. COMEX silver futures rose 0.40% to $32.485 per ounce. COMEX copper futures rose 1.48% to $4.6615 per pound, and continued to rise after hitting a daily low of $4.5610 at 11:49.
[Cryptocurrency]Bitcoin fell more than 1% to $1,053.535 million; Ethereum fell 0.86% to $2,518.53.
[Crude Oil]Light sweet crude oil futures for June delivery on the New York Mercantile Exchange rose 20 cents to settle at $62.69 a barrel, a gain of 0.32%. Brent crude futures for July delivery in London rose 13 cents to settle at $65.54 a barrel, a gain of 0.20%.
[Macro News]
The U.S. Consultative Council's leading indicators declined in April.According to statistics from the American Consulting Group, the U.S. economic outlook index declined in April. The data released showed that the leading indicator fell 1% month-on-month to 99.4 in April, a figure lower than economists' expectations and the biggest drop for the index in two years. "Consumer expectations have become increasingly pessimistic month by month since January 2025, while the contribution of building permits and average working hours in manufacturing turned negative in April. There is also widespread weakness when looking at the six-month trend of the various components of the LEI, which is a warning sign of growth," said Justyna Zabinska-La Monica, an analyst at the consulting firm. (The LEI is a predictive index. Based on 10 components, including new orders from manufacturers, initial jobless claims, new private residential building permits, stock prices, and consumer expectations, it aims to indicate a shift in the business cycle.)
Federal Reserve Vice Chairman Jefferson: Moody's downgrade will be treated as ordinary data when formulating policy.Federal Reserve Vice Chairman Jefferson stated that when formulating monetary policy, Moody's downgrade of the U.S. credit rating will be considered as ordinary economic data. Jefferson stated, "We will view this rating downgrade in the light of all incoming information: what it means in terms of achieving our stated goals, without commenting on what the downgrade might mean in the political and economic context." He added, "Our goal is to fulfill a dual mission—to achieve maximum employment and price stability. In times of changing financial markets, it is especially important to remain focused on our mission."
Dallas Fed PresidentLoganThe Federal Reserve should strengthen its interest rate control mechanism.Dallas Federal Reserve Bank President Logan said that the U.S. central bank should consider strengthening mechanisms to more effectively prevent money market interest rates from soaring when markets are under pressure. In a speech preparing for the Atlanta Fed’s 2025 Financial Markets Conference, Logan reiterated his call to encourage more banks to use the discount window and focus on clearing standing repurchase facility (SRF) operations. She will also host a panel discussion that day on the role of non-bank institutions in the U.S. Treasury Bond and money markets. Logan also pointed out that the Federal Reserve should focus on broader market interest rates, not just Federal Funds rate. “In my view, interest rate control is more than just keeping Federal Funds rate within the target range,” she said.
Federal ReserveWilliamsThere was no immediate concern that foreign investors would sell off U.S. assets.New York Federal Reserve President Williams acknowledged that concerns about foreign investors withdrawing from U.S. assets do exist amid trade turmoil, but he believes that the U.S.’s “safe haven” status is not currently at immediate risk. Williams stated that most of these concerns remain at the stage where "people are just talking about whether or not to discuss them." He stated that the United States remains uniquely attractive to global investors, pointing to the United States' technological prowess and mentioning that "American exceptionalism" dominated global trade until recently. Williams said, "The U.S. economy is really dynamic. Frankly, we are at the center of the artificial intelligence universe."
[Individual Stock News]
Microsoft(MSFT.US) Open source Windows subsystem.Early this morning, Microsoft announced the open-source version of WSL, a Windows subsystem for Linux. WSL is a major feature released by Microsoft in 2016 that allows you to run a Linux environment on the Windows operating system without the need for a separate virtual machine or dual boot. It can also quickly install various Linux versions of software, such as Ubuntu, Debian, and Kali, allowing developers to seamlessly use Windows and Linux for project development.
Sources: If the Trump administration approves the deal, Japan Steel plans to...American Steel(X.US) invested $14 billion.According to a document and two sources familiar with the matter, if the Trump administration approves Japan Steel's acquisition of U.S. Steel, Japan Steel plans to invest $14 billion in U.S. Steel's business, including up to $4 billion in a new steel plant. According to the plan details contained in the document, the company will invest $11 billion in U.S. Steel's infrastructure by 2028. This includes $1 billion in green space, including a $1 billion investment in a new project, which is expected to increase to $3 billion in the coming years. This massive investment commitment, an increase from the initial $1.4 billion, is seen as part of a final effort to win approval for the merger.
