Before the US stock market opened on Monday, the &#34;Trump Trade&#34; continued to play out, with companies under the Trump Media &amp; Tech Group soaring by over 70%. The three major US stock index futures generally rose, with most tech stocks showing strength. The 30-year US Treasury bond yield rose above the 2-year yield for the first time since January 6, while the latter has been declining since early May. European stocks fell overall ahead of the European Central Bank interest rate decision. Bitcoin surged by 5%, while the US dollar and gold remained steady.
At the time of writing, S&amp;P 500 index futures were up 0.35%, Dow Jones futures rose by 0.37%, and Nasdaq futures increased by 0.4%.
European stocks collectively declined, with the Euro Stoxx 50 index falling by 0.34%, Germany's DAX 30 index dropping by 0.29%, and France's CAC 40 index decreasing by 0.47%. Stock markets in the UK, Italy, and Spain all saw slight declines.
Before the US stock market opened, the Trump Media &amp; Tech Group surged by over 70%.
According to analysis by Minsheng Macro, the Republican Party's chances of winning have significantly increased after the assassination attempt on Trump, regardless of presidential or congressional elections.
Most tech stocks rose, with Apple up by over 1%. Previously, Morgan Stanley rated Apple as a top pick, raising its target price from $216 to $273. AMD rose by over 1%, while NVIDIA and AMD both saw gains.
Chinese concept stocks mostly fell, with Baidu dropping by over 3%, Nio by nearly 3%, XPeng by over 4%, and Bilibili by nearly 4%. Blockchain concept stocks saw a general rise, with Marathon Digital up by nearly 7% and Coinbase Global up by over 6%.
US Treasuries were weak, with the 10-year Treasury yield rising by 2 basis points intraday
The 30-year US Treasury bond yield rose by 4 basis points intraday, surpassing the 2-year US Treasury bond yield for the first time since January 6, with the latter continuing to decline since early May.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/bb2a96c5-b312-4775-9c29-496fc674f6ae.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/bb2a96c5-b312-4775-9c29-496fc674f6ae.png"/>
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/d41b9aad-2307-4045-b866-ffd0fa6aec6e.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/d41b9aad-2307-4045-b866-ffd0fa6aec6e.png"/>
Wall Street found that during the US election process, when Trump is in the lead, the US bond yield curve will become steeper. This is because the market believes that if Trump takes office, it will mean a rise in US inflation, an expansion of the government's fiscal deficit, and lead to an increase in long-term interest rates.
Cryptocurrencies are generally rising, with Bitcoin up over 5% in the past 24 hours, Ethereum up over 5% in the past 24 hours, and Dogecoin up nearly 5% in the past 24 hours.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/6806ffad-43b8-4c08-afd3-e0370c2dc2d0.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/6806ffad-43b8-4c08-afd3-e0370c2dc2d0.png"/>
The US dollar's gains narrowed to flat.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/4e056bcc-383c-431a-9d67-d126604a7d14.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/4e056bcc-383c-431a-9d67-d126604a7d14.png"/>
Spot gold remains steady, down 0.1% intraday.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/485486a0-cd7d-42e7-a8cc-67b8dec1719b.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/485486a0-cd7d-42e7-a8cc-67b8dec1719b.png"/>
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The 30-year US Treasury bond yield has exceeded the 2-year yield for the first time since January 6, with the latter continuing to decline since early May

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European stocks fell, while the three major US stock index futures strengthened collectively. Companies under Trump's name surged more than 70% in pre-market trading, and Bitcoin rose by 5%