SPDR S&P 500 hits another all-time high, chip giants NVIDIA and AMD reach new highs, while Tesla plunges over 10% dragging down the Nasdaq.

The S&P 500 hit a new all-time high for five consecutive days, while the Nasdaq briefly turned negative and the Dow Jones rebounded to a new record high. Chip stocks initially declined during the trading session, closing off their historical highs. AMD rose over 1%, while Nvidia hit a new closing high for the sixth consecutive day, although it briefly turned negative during the session. Tesla experienced its largest drop in a year after its earnings report, closing down 12%. Alphabet-C rose over 2%, along with Microsoft and Meta, both hitting new all-time closing highs. ASML, listed in Europe, rose 4.6%, continuing to set new historical highs. Chinese concept stocks rose over 1% in early trading before turning negative, with Bilibili falling nearly 4% and XPeng dropping over 2%. New Oriental EDU & Tech saw a more than 6% increase in its stock price the day after its earnings report. After the European Central Bank meeting, the two-year German bond yield plunged more than 10 basis points, causing the euro to decline and the US dollar index to jump, approaching a six-week high. Following the release of GDP data, US bond yields declined, with the two-year yield dropping by 10 basis points at one point. Offshore renminbi fell from a two-week high, dropping over 300 points and approaching 7.19. Crude oil rose 3%, marking its largest gain in three weeks and reaching a new high in nearly two months. London copper and nickel both rose for the third consecutive day, hitting a four-week high. London tin hit a five-month high. Gold rebounded slightly.