Overnight US stocks | S&P 500 index hits record high again, Intel rose by 16%, Trump says car import tariffs may be 25%

On Tuesday, the three major indexes rose, with the S&P 500 index hitting another record high. Trump said the import tariff rate on cars could be 25%. [US Stocks] At the close, the Dow Jones rose 10.26 points, or 0.02%, to 44556.34 points; the Nasdaq rose 14.49 points, or 0.07%, to 20041.26 points; the S&P 500 index rose 14.95 points, or 0.24%, to 6129.58 points. Tesla, Inc. (TSLA.US) and NVIDIA Corporation (NVDA.US) rose slightly, while Intel Corporation (INTC.US) rose 16%. The Nasdaq China Golden Dragon Index fell 1.27%, XPeng, Inc. ADR Sponsored Class A (XPEV.US) rose nearly 5%, and Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose 1.8%. [European Stocks] The Germany DAX30 index rose 49.09 points, or 0.22%, to 22846.80 points; the UK FTSE 100 index fell 2.52 points, or 0.03%, to 8765.49 points; the France CAC40 index rose 26.29 points, or 0.32%, to 8215.42 points; the Europe Stoxx 50 index rose 15.52 points, or 0.28%, to 5535.35 points; the Spain IBEX35 index rose 115.60 points, or 0.89%, to 13143.00 points; the Italy FTSE MIB index rose 226.28 points, or 0.59%, to 38554.00 points. [Asia-Pacific Stock Market] The Nikkei 225 index rose 0.25%, the KOSPI index in South Korea rose 0.63%, and the composite index in Indonesia rose 0.62%. [Cryptocurrency] Bitcoin fell by 0.83% to $95017.24 per coin; Ethereum fell by over 3.4% to $2649.85 per coin. [Gold] Spot gold rose by 1.29% to $2934.04 per ounce, with a trading range of $2892.14-2936.99 per ounce. COMEX gold futures rose 1.77% to $2952.10 per ounce, with a trading range of $2904.90-2956.50 per ounce throughout the day. [Crude Oil] Light crude oil futures for March delivery on the New York Mercantile Exchange rose by $1.11 to close at $71.85 per barrel, up 1.57%; Brent crude oil futures for April delivery rose by 62 cents to close at $75.84 per barrel, up 0.82%. [US Dollar] The US dollar index, which measures the US dollar against six major currencies, rose 0.3% to close at 107.057 in the currency market at the end of the day. At the end of the New York currency market, 1 euro exchanged for $1.0445, down from $1.0482 the previous trading day; 1 pound exchanged for $1.2597, down from $1.2628 the previous trading day. 1 US dollar exchanged for 151.92 yen, up from 151.40 yen the previous trading day; 1 US dollar exchanged for 0.9036 Swiss francs, up from 0.9009 Swiss francs the previous trading day; 1 US dollar exchanged for 1.4188 Canadian dollars, up from 1.4185 Canadian dollars; 1 US dollar exchanged for 10.7249 Swedish krona, up from 10.6945 Swedish krona the previous trading day. [Macro News] Trump: Car tariffs will be around 25%, more information to be released on April 2nd. US President Trump said on Tuesday that car tariffs will be around 25%, with more information to be released on April 2nd. Trump told reporters, "I might tell you on April 2nd, but it will be around 25%." Trump said last Friday that he would impose tariffs on cars as early as April 2nd, with his cabinet members submitting a report on April 1st outlining a range of import tariff options. New York manufacturing activity rebounds, but inflation and interest rates cast a shadow over market confidence. New York State manufacturing activity rebounded sharply this month, but companies are not as optimistic about the next few months due to high inflation and concerns about further rate cuts. The New York Fed's manufacturing index climbed from -12.6 in January to 5.7 in February. The index above 0 indicates that activity expanded again this month, contrasting with economists' expectations of a continued modest decline. New orders and shipments both increased after falling in January, indicating strong demand for manufactured goods in the state. However, the optimism index within the index fell by 15 points, as manufacturers' capital expenditure plans appeared weak. This uncertainty stems from the Fed's hint that it may not cut rates further this year. US Treasury Department reduces Treasury securities issuance for the second consecutive week to preserve borrowing capacity. The US Treasury Department on Tuesday reduced the size of some benchmark Treasury securities offerings for the second consecutive week in an effort to preserve borrowing capacity below the statutory debt ceiling. The department said it planned to issue $85 billion worth of 4-week Treasury bills on Thursday, a reduction of $5 billion from the previous offering of bills of the same term. The department also announced an $80 billion offering of 8-week Treasury bills on Thursday, also reduced by $5 billion. The 17-week Treasury bill auction scheduled for Wednesday was reduced to $60 billion, a decrease of $20 billion. Survey by Bank of America: Nearly 90%of investors believe US stocks are overvalued. In Bank of America Corp's global fund manager survey for February, 89% of surveyed investors believe US stocks are overvalued. The survey found that this is the highest level since at least April 2001. In the past ten years, an average of 81% of the fund manager investors surveyed have consistently believed that US stocks are overvalued. US State Department: The US and Russia agree to begin pushing for an end to the Russian-Ukrainian conflict. The US State Department stated that the US and Russia agreed on Tuesday to resolve points of friction and begin working to pave the way for an end to the Russian-Ukrainian conflict, but explicitly stated that these efforts are still in the early stages. The State Department said they had agreed to start the process of resolving their differences and to focus on ways to end the conflict between Russia and Ukraine, while also exploring potential long-term solutions. The US and Russia have also decided to resume high-level military-to-military discussions aimed at preventing miscalculations and misunderstandings in the region.Tammy Bruce, after the Riyadh meeting, said that a phone call and a meeting alone are not enough to establish lasting peace. He also mentioned that both parties have agreed to appoint a high-level negotiation team for the Ukraine issue, "seeking a way to end the Russia-Ukraine conflict as soon as possible in a sustainable manner that is acceptable to all parties." The United States and Russia will also begin considering cooperation on shared political interests with GEO Group Inc, as well as the historic economic and investment opportunities that would come with a successful resolution of the Russia-Ukraine conflict.Individual stock news Intel Corporation (INTC.US) surged in price, influenced by rumors of a split. The stock price of Intel Corporation rose by 16.06%, reaching $27.39, marking the largest single-day increase since October 27, 2023. The market speculated that Intel Corporation may be split up due to transactions with Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR and Broadcom Inc. Earlier, Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR discussed the proposal to operate Intel Corporation's US factories and hold majority control of the joint venture factory. Broadcom Inc. had informal discussions with Intel Corporation's chip design and marketing department and consultants regarding acquisition. Major bank rating Keefe, Bruyette & Woods: Raised the target price of Coinbase (COIN.US) to $305.