Weak job positions and low consumer confidence have led to expectations of interest rate cuts by the Federal Reserve, driving up U.S. Treasury prices. Hopes for a trade agreement are expected to boost U.S. stocks, with the S&amp;P maintaining its upward momentum for the week. As risk aversion fades, gold prices have retreated. After hours, Super Micro Computer, which released preliminary earnings expectations, and Snap, which reported quarterly results but failed to provide guidance, saw significant declines.
On Tuesday, the U.S. stock market opened lower but rose throughout the day, with tariff news remaining the main theme in the market:
<blockquote>
<ul>
<li>
In the early trading session, the U.S. reported job vacancies hitting a six-month low, falling far short of expectations, while consumer confidence unexpectedly declined, reaching a nearly five-year low. U.S. Treasury yields accelerated downward. All three major U.S. stock indices experienced declines in early trading.
</li>
<li>
After the lunch break, U.S. Secretary of Commerce Gina Raimondo discussed the progress of tariff negotiations, claiming that some agreements have been reached and are awaiting approval. U.S. stocks expanded their gains, with all three major indices hitting daily highs. Trump signed an executive order related to tariffs on automakers, further boosting Tesla's gains, while General Motors erased most of its intraday losses.
</li>
<li>
In the late trading session, the Office of the U.S. Trade Representative (USTR) stated that relations with Europe regarding tariff negotiations are not going well. The gains in U.S. stocks narrowed. The S&amp;P 500 index's gain narrowed to nearly 0.6%, the Dow Jones Industrial Average rose less than 350 points, narrowing its gain to below 0.9%, and the Nasdaq rose 0.6%.
</li>
</ul>
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/59d03f78-ce2e-42cc-bf69-22badbaf3c99.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/59d03f78-ce2e-42cc-bf69-22badbaf3c99.png"/>
<ul>
<li>After hours, Super Micro Computer and Snap saw significant declines following their earnings reports. Super Micro Computer announced on Tuesday that it has lowered its revenue and profit expectations for the third quarter due to delayed customer spending, resulting in a drop of over 16% in after-hours trading. Snap reported better-than-expected revenue on Tuesday but refused to provide guidance due to macroeconomic uncertainties, leading to a 13% plunge in its stock price.</li>
</ul>
</blockquote>
On Tuesday, the three major U.S. stock indices closed higher, with the Dow Jones index marking its longest consecutive gain since July, and the S&amp;P 500 index also achieving its longest consecutive gain since November. Financial stocks led all sectors, while only the energy sector saw declines. Tesla rose over 2%, and Meta recorded six consecutive gains. Super Micro Computer and Snap fell over 10% after reporting earnings.
<blockquote>
The three major U.S. stock indices:
<ul>
<li>
The S&amp;P 500 index closed up 32.08 points, or 0.58%, marking its sixth consecutive trading day of gains (up 7.83% since the close on April 21), at 5560.83 points.
</li>
<li>
The Dow Jones Industrial Average closed up 300.03 points, or 0.75%, at 40527.62 points
</li>
<li>
The Nasdaq Composite rose by 95.18 points, an increase of 0.55%, closing at 17,461.32 points. The Nasdaq-100 Index rose by 117.66 points, an increase of 0.61%, closing at 19,544.95 points.
</li>
<li>
The Russell 2000 Index rose by 0.56%, closing at 1,976.52 points.
</li>
<li>
The VIX, or fear index, fell by 3.86%, closing at 24.18.
</li>
</ul>
U.S. Stock Sector ETFs:
<ul>
<li>
The Financials ETF rose by 1.04%, the Internet Stocks Index ETF rose by 0.95%, and both the Banking ETF and Regional Banks ETF rose by at least 0.9%.
</li>
<li>
The Semiconductor ETF fell by 0.17%, and the Energy Sector ETF fell by 0.29%.
</li>
</ul>
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/249ebe45-9037-4b7d-8f7c-6a492822823b.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/249ebe45-9037-4b7d-8f7c-6a492822823b.png"/>
&#34;Tech Seven Sisters&#34;:
<ul>
<li>
The Magnificent 7 Index of the seven major U.S. tech stocks rose by 0.45%, closing at 144.89 points.
</li>
<li>
Tesla rose by 2.15%, Meta Platforms rose by 0.85%, Microsoft rose by 0.74%, Apple rose by 0.51%, NVIDIA rose by 0.27%, while Amazon fell by 0.17%, and Alphabet A fell by 0.28%.
</li>
</ul>
Chip Stocks:
<ul>
<li>
The Philadelphia Semiconductor Index fell by 0.92%, closing at 4,196.75 points.
</li>
<li>
TSMC ADR rose by 0.66%, while AMD fell by 0.34%.
</li>
</ul>
AI Concept Stocks:
<ul>
<li>
Super Micro Computer is expected to report poor performance for the third fiscal quarter, with its stock price plunging 20% after hours.
</li>
<li>
Applovin rose by 1.37%, and Tempus AI rose by 0.97%.
</li>
</ul>
Chinese Concept Stocks:
<ul>
<li>
The Nasdaq Golden Dragon China Index fell by 0.30%, closing at 6,980.70 points.
</li>
<li>
Popular Chinese concept stocks such as New Energy fell by 13.77%, XPeng fell by 6.32%, JinkoSolar fell by 3.85%, Autohome fell by 2.33%, ZTO Express fell by 1.98%, and Beike and ZaiDing Pharmaceuticals fell by over 1.8%.
</li>
</ul>
Among other key individual stocks:
<ul>
<li>
Snap rose by 5.94% after hours, then turned around and plunged by 6.38%. The revenue reported on Tuesday exceeded expectations, but the company declined to provide guidance due to macroeconomic uncertainties.
</li>
<li>
The &#34;Trump Tariff Losers&#34; Index rose by 0.85%, closing at 84.49 points. Component stock Zebra Technologies rose by 5.16%, Five Below rose by 3.12%, and Gap rose by 1.35%.
</li>
</ul>
</blockquote>
European stock markets have risen about 3.7% over six days, with the German index rising about 0.7%, the Italian banking index rising over 1.3%, while the French index fell over 0.2%. Eurozone blue-chip stocks SAP and L'Oréal rose over 2.3%, while Schneider Electric fell about 6.4%.
<blockquote>
Pan-European Stocks:
<ul>
<li>
The European STOXX 600 index closed up 0.36%, marking the sixth consecutive trading day of gains (with a cumulative increase of 3.69% during this period), closing at 525.09 points.
</li>
<li>
The Eurozone STOXX 50 index closed down 0.17%, ending a previous five-day winning streak, closing at 5161.90 points.
</li>
</ul>
National Indices Closed Higher:
<ul>
<li>
The German DAX 30 index closed up 0.69%, closing at 22425.83 points.
</li>
<li>
The French CAC 40 index closed down 0.24%, closing at 7555.87 points.
</li>
<li>
The UK FTSE 100 index closed up 0.55%, closing at 8463.46 points.
</li>
</ul>
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/7f981fc2-dc25-4609-8a16-f13c7e724b9a.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/7f981fc2-dc25-4609-8a16-f13c7e724b9a.png"/>
Sectors and Stocks:
<ul>
<li>
Among Eurozone blue-chip stocks, SAP closed up 2.33%, L'Oréal up 2.32%, ING up 1.69%, and UniCredit up 1.37%.
</li>
<li>
In terms of sectors, the STOXX 600 healthcare index rose 1.17%, the banking index rose 1.12%, the utilities index rose 1.09%, and the technology index rose 0.72%.
</li>
</ul>
</blockquote>
In March, the U.S. JOLTS job openings were 7.192 million, below the expected 7.5 million and lower than the predictions of all economists surveyed. Following the data release, the yield on the U.S. 10-year Treasury bond fell to 4.1736%, hitting a daily low, while the yield on the 2-year Treasury bond dropped below 3.65%, also hitting a daily low, with an overall decline of more than 4 basis points during the day.
<blockquote>
U.S. Treasuries:
<ul>
<li>
At the New York close, the yield on the 10-year benchmark U.S. Treasury bond fell by 3.66 basis points to 4.1716%, trading within a range of 4.2428%-4.1620% during the day.
</li>
<li>
The yield on the 2-year Treasury bond fell by 4.29 basis points to 3.6499%, trading within a range of 3.7132%-3.6458% during the day.
</li>
</ul>
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/890cf662-10b5-45bd-bf36-f38508b4a55d.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/890cf662-10b5-45bd-bf36-f38508b4a55d.png"/>
European Bonds:
<ul>
<li>
At the European close, the yield on the German 10-year Treasury bond fell by 2.4 basis points to 2.497%. The yield on the 2-year German bond fell by 0.7 basis points to 1.736%.
</li>
<li>
At the European close, the yield on the UK 10-year Treasury bond fell by 2.9 basis points to 4.480%, dropping below 4.46% at 22:00 Beijing time, hitting a daily low.
</li>
<li>
At the European close, the yields on the sovereign bonds of the Eurozone's France, Italy, Spain, and Greece fell by at least 2 basis points, with the yield on the Italian 10-year Treasury bond falling by 2.4 basis points to 3.605%
Weak U.S. employment data raises expectations for Federal Reserve rate cuts, hindering the rebound trend of the U.S. dollar index, which fluctuates below the 100 mark. The offshore yuan once rose over 300 points, breaking 7.26. The spot price of Bitcoin remains around $95,000.
</li>
</ul>
</blockquote>
<blockquote>
U.S. Dollar:
<ul>
<li>
At the New York close, the ICE U.S. Dollar Index rose 0.26% to 99.271 points, with an intraday trading range of 98.948-99.372 points.
</li>
<li>
The Bloomberg Dollar Index increased by 0.19% to 1222.19 points, with an intraday trading range of 1219.50-1223.72 points.
</li>
</ul>
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/f29ee7ac-32f0-4cc3-b710-89b910033afd.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/f29ee7ac-32f0-4cc3-b710-89b910033afd.png"/>
Non-U.S. Currencies:
<ul>
<li>
At the New York close, the euro against the U.S. dollar fell by 0.35% to 1.1379.
</li>
<li>
The British pound against the U.S. dollar decreased by 0.26% to 1.3410.
</li>
<li>
The U.S. dollar against the Swiss franc rose by 0.4% to 0.82331.
</li>
</ul>
Japanese Yen:
<ul>
<li>
At the New York close, the U.S. dollar against the Japanese yen rose by 0.19% to 142.28 yen, with an intraday trading range of 141.97-142.76 yen.
</li>
<li>
The euro against the Japanese yen fell by 0.17% to 161.95 yen; the British pound against the Japanese yen decreased by 0.06% to 190.750 yen.
</li>
</ul>
Offshore Yuan:
<ul>
<li>At the New York close, the offshore yuan against the U.S. dollar was reported at 7.2679 yuan, an increase of 167 points from Monday's New York close, with an overall intraday trading range of 7.2887-7.2566 yuan.</li>
</ul>
Cryptocurrency:
<ul>
<li>At the New York close, spot Bitcoin fluctuated and remained flat at $94,851.</li>
</ul>
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/1876918c-38b7-44c3-8e37-8fc242ebadb2.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/1876918c-38b7-44c3-8e37-8fc242ebadb2.png"/>
</blockquote>
OPEC+ may increase production in June, continuing to pressure international oil prices. Additionally, U.S. API crude oil inventories increased by 3.8 million barrels last week, with June crude oil futures closing down over 2%.
<blockquote>
Crude Oil:
<ul>
<li>
WTI June crude oil futures closed down $1.63, a decline of over 2.62%, at $60.42 per barrel.
</li>
<li>
Brent June crude oil futures closed down $1.61, a decline of 2.44%, at $64.25 per barrel.
</li>
</ul>
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/c496c7ae-9565-4bdf-86db-6cc7d776a2f8.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/c496c7ae-9565-4bdf-86db-6cc7d776a2f8.png"/>
Natural Gas:
<ul>
<li>NYMEX June natural gas futures closed up over 1.28% at $3.3860 per million British thermal units
Canada's New Gold's gold production in the first quarter was equivalent to 53,186 ounces, a year-on-year decrease of 26%. Spot gold fell more than 0.7%, briefly dropping below $3,300. The Philadelphia Gold and Silver Index closed down 1.28%, at 185.38 points, with component stocks generally declining. London aluminum rose more than 1%.</li>
</ul>
</blockquote>
<blockquote>
Gold:
<ul>
<li>
In New York's late trading, spot gold fell 0.76%, reported at $3,319.25 per ounce.
</li>
<li>
COMEX gold futures fell 0.52%, reported at $3,330.20 per ounce.
</li>
</ul>
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/a0892962-e0c7-4e09-aafe-e206542e1c41.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/a0892962-e0c7-4e09-aafe-e206542e1c41.png"/>
Silver:
<ul>
<li>
In New York's late trading, spot silver fell 0.63%, reported at $32.9536 per ounce.
</li>
<li>
COMEX silver futures fell 0.38%, reported at $32.880 per ounce; July contracts fell 0.38%, reported at $33.200.
</li>
</ul>
Other Metals:
<ul>
<li>
In New York's late trading, COMEX copper futures fell 0.55%, reported at $4.8140 per pound; July contracts fell 0.57%, reported at $4.8615.
</li>
<li>
LME copper futures closed up $62, reported at $9,440 per ton. LME aluminum futures closed up $32, reported at $2,466 per ton. LME zinc futures closed up $16, reported at $2,650 per ton.
</li>
<li>
LME tin futures closed down $102, reported at $31,919 per ton. LME nickel futures closed down $65, reported at $15,550 per ton
</li>
</ul>
</blockquote>

Nvidia will release its first quarter report for fiscal year 2026 ending April 27, 2025. 

According to analysts surveyed by FactSet, Nvidia's first-quarter revenue is expected to increase 66% year-on-year to $43.3 billion; adjusted earnings per share will increase 44% year-on-year to $0.88. The growth rate of revenue and profits has slowed significantly compared with the same period last year. In the same period last year, Nvidia's revenue increased by 262% year-on-year, and its adjusted earnings per share increased by 461% year-on-year.

Nvidia will release its first quarter report for fiscal year 2026 ending April 27, 2025. According to analysts surveyed by FactSet, Nvidia's first-quarter revenue is expected to increase 66% year-on-year to $43.3 billion; adjusted earnings per share will increase 44% year-on-year to $0.88. The growth rate of revenue and profits has slowed significantly compared with the same period last year. In the same period last year, Nvidia's revenue increased by 262% year-on-year, and its adjusted earnings per share increased by 461% year-on-year.

NVIDIA Financial Results for Q4 Fiscal 2025

SNAP

SMCI

S&P hits the longest winning streak in three years; Tesla rises over 2%, General Motors, which withdrew its guidance, initially drops 4% but later narrows most of its losses; Meta has six consecutive gains; Super Micro Computer briefly plummets 20% after hours, Snap drops over 10% after hours. U.S. Treasury yields hit a three-week low. The U.S. dollar index rebounds. The offshore yuan briefly rises over 300 points, breaking 7.26. Crude oil drops 3% during the session

- U.S. job vacancies hit a six-month low, and consumer confidence fell to a near five-year low, leading to expectations of Federal Reserve rate cuts and a rise in U.S. Treasury prices.  
- Major U.S. stock indices closed higher, with the S&P 500 and Dow Jones marking their longest winning streaks since July and November, respectively, despite significant post-market declines for AMD and Snap.  
- European markets also saw gains, with the STOXX 600 index rising for the sixth consecutive day, while oil prices fell due to increased production expectations from OPEC+.

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Trade agreement hopes to boost US stocks, gold retreats, S&P rises for six consecutive days, Super Micro Computer and Snap plummet after hours