Overnight US stocks | Three major indexes rose and fell differently, with the Nasdaq rising 9.56% this month.

Friday, the three major indices had mixed performances. This week, the S&P 500 rose by 1.87%, the Dow rose by 1.6%, and the tech-heavy Nasdaq rose by 2%. In May, the S&P 500 rose by 6.15%, the Nasdaq Composite Index soared by 9.56%, and the 30 component stocks of the Dow rose by 3.93%. [US Stock Market] At the close, the Dow rose by 54.34 points, or 0.13%, to 42,270.07 points; the Nasdaq fell by 62.11 points, or 0.32%, to 19,113.77 points; the S&P 500 fell by 0.48 points, or 0.01%, to 5911.69 points. Some star tech stocks declined, with Intel Corporation (INTC.US) falling by 3.4%, Tesla, Inc. (TSLA.US) falling by 3.3%, NVIDIA Corporation (NVDA.US) falling by 2.9%, and Alibaba Group Holding Limited Sponsored ADR (BABA.US) falling by 2.8%. The Nasdaq index had its largest percentage increase in May since 1997, and the S&P 500 had its strongest May performance since 1990. The S&P 500 and Nasdaq indices had their largest monthly percentage increases since November 2023. [European Stock Market] The Germany DAX30 index rose by 37.59 points, or 0.16%, to 24,005.89 points; the UK FTSE 100 index rose by 58.82 points, or 0.67%, to 8775.27 points; the France CAC40 index fell by 27.83 points, or 0.36%, to 7751.89 points; the Euro Stoxx 50 index fell by 3.35 points, or 0.06%, to 5367.75 points; the Spain IBEX35 index rose by 19.61 points, or 0.14%, to 14,160.51 points; and the Italy FTSE MIB index rose by 108.03 points, or 0.27%, to 40,091.00 points. [Asia-Pacific Stock Market] The Nikkei 225 index fell by 1.22%, the KOSPI index in South Korea fell by 0.84%, and the Indonesia Composite Index fell by 0.32%. [Foreign Exchange] The US dollar index, which measures the dollar against six major currencies, rose by 0.05% to close at 99.328 in the currency market. At the close of the New York currency market, 1 euro exchanged for 1.1359 US dollars, lower than the previous trading day's 1.1375 US dollars; 1 pound exchanged for 1.3468 US dollars, lower than the previous trading day's 1.3498 US dollars. 1 US dollar exchanged for 143.89 Japanese yen, lower than the previous trading day's 144.00 Japanese yen; 1 US dollar exchanged for 0.8224 Swiss francs, lower than the previous trading day's 0.8224 Swiss francs; 1 US dollar exchanged for 1.3718 Canadian dollars, lower than the previous trading day's 1.3801 Canadian dollars; 1 US dollar exchanged for 9.5775 Swedish kronor, higher than the previous trading day's 9.5522 Swedish kronor. [Metals] COMEX gold futures fell by 0.84% to $3289.40 per ounce, with a cumulative decrease of about 0.90% in May; COMEX silver futures fell by 1.06% to $33.070 per ounce, with a cumulative increase of about 0.70% in May. [Cryptocurrency] Bitcoin fell by over 1% to $104613, and Ethereum fell by over 2.5% to $2565.78. [Crude Oil] The price of light crude oil futures for July delivery on the New York Mercantile Exchange fell by 15 cents to $60.79 per barrel, a decrease of 0.25%; the price of Brent crude oil futures for July delivery fell by 25 cents to $63.90 per barrel, a decrease of 0.39%. [Macroeconomic News] The Atlanta Fed significantly raised its expectations for US Q2 economic growth. The Atlanta Fed's GDPNow model predicts that US second-quarter GDP will grow by 3.8%, up from a previous estimate of 2.2%. After recent data releases from the US Census Bureau and the Bureau of Economic Analysis, the Atlanta Fed's GDPNow model's immediate forecast for the contribution of net exports to actual GDP growth in the second quarter jumped from -0.64% to 1.45%. However, the immediate forecasts for actual personal consumption expenditure and actual domestic private investment growth in the second quarter both declined, from 3.7% and -0.2% respectively, to 3.3% and -1.4%. Goldman Sachs Group, Inc.: Foreign investors are unlikely to abandon US Treasury bonds. Despite Moody's Corporation's downgrade of US Treasury bonds, foreign investors are unlikely to abandon the US Treasury bond market as there are currently no suitable alternatives. Lindsay Rosner, Head of Multi-Industry Investments at Goldman Sachs Group, Inc. Asset Management, said, "Looking globally, there are very few countries with AAA sovereign credit ratings, in fact, close to 11, but if you look at the size of these countries' bond markets, you will see that they pale in comparison to the size of the US Treasury bond market." She also stated that if long-term bond yields remain above 5%, "we will eventually reach a tipping point where hedging effects, especially spreads, will start to become attractive." Trump: Hopes that 100% of US cars are manufactured in the US. US President Trump said that while he gave US car manufacturers "some wiggle room on tariffs," he expects car manufacturers to fully restore domestic car manufacturing next year. When asked by reporters about tariff issues affecting companies like Tesla, Inc. in the Oval Office, Trump said, "All manufacturers will also produce components here." Trump continued, saying, "This used to bother me, that they make a part in Canada, make a part in Mexico, make a part in Europe, and then they send it all over, and no one knows what's going on." "I think you make aVehicles, just made in America. ...In the next year, they must make everything in America.Morgan Stanley CEO Damon: The bond market will eventually crack. Morgan Stanley CEO Damon warned that after the US government and the Federal Reserve engaged in "massive excessive" spending and quantitative easing, the bond market is "likely to crack." Damon said, "I just dont know if there will be a crisis in 6 months or 6 years, I hope we can change the trajectory of debt and the ability of market makers to make markets." "Unfortunately, we may need it to wake us up." Damon has expressed concerns about global deficit spending in recent years. On Friday, when asked if the so-called "bond vigilantes" might return, he said, "Yes." Trump criticizes the Congressional Budget Office for intentionally lowering economic growth forecasts. US President Trump said on social media, "Democrats inspired and 'control' the Congressional Budget Office (CBO), intentionally giving us a very low growth rate of only 1.8% over 10 years. How ridiculous and unpatriotic! They did the same thing to us in 2017, but our actual growth was twice their prediction. The information they recently released is even more absurd and unfounded. I predict that our economic growth will be 3 times, 4 times, or even 5 times what they intentionally 'allocated' to us (1.8%). And as long as we achieve the minimum expected 3% growth, our tax cuts will offset our spending (actually, this won't cost us any money!)." Individual Stock News Elon Musk is lobbying Washington to clear the way for autonomous vehicles. According to sources, Elon Musk is pushing lawmakers to help clear the way for autonomous vehicles, which is one of his broader efforts to lobby for a key priority for Tesla, Inc.(TSLA.US). In recent weeks, Musk and his team have been directly calling members of Congress seeking support, and he has been considering changes to a bill introduced on May 15 that will start establishing a basic framework for autonomous vehicles. One source said that options being discussed include speeding up the passage of the bill or submitting a more detailed similar bill before Congress adjourns for July 4. Taiwan Semiconductor Manufacturing Co., Ltd. is reportedly evaluating the possibility of building an advanced chip factory in the UAE. According to sources, Taiwan Semiconductor Manufacturing Co., Ltd. (TSM.US) is evaluating the possibility of establishing an advanced chip manufacturing base in the UAE and has discussed this with Trump administration officials. The potential major investment project in the Middle East will depend on approval from the US government. In recent months, Taiwan Semiconductor Manufacturing Co., Ltd. has had several meetings with US Middle East envoy Whetkoff and representatives from UAE firm MGX. The project under discussion is said to involve building a mega wafer fabrication plant similar to the six factory campuses Taiwan Semiconductor Manufacturing Co., Ltd. has in Arizona. The Trump administration will allow Nippon Steel to acquire United States Steel Corporation(X.US) as a wholly-owned subsidiary. The Trump administration is making final arrangements to approve Nippon Steel's plan to acquire United States Steel Corporation as a wholly-owned subsidiary. To ensure that the US government has a certain degree of influence over the operation of United States Steel Corporation, Nippon Steel will sign a "national security agreement" with the US government. Trump is expected to sign an executive order on Friday, repealing the acquisition ban imposed by former President Biden and approving the deal. He is expected to deliver a speech in Pittsburgh, where the headquarters of United States Steel Corporation is located. He is expected to emphasize that the cooperation between Nippon Steel and United States Steel Corporation will create job opportunities and economic benefits. The agreement will require Nippon Steel not to reduce the capacity of United States Steel Corporation without approval from US authorities for a period of time, not to relocate production facilities overseas, and to require the Japanese steel manufacturer to periodically report to the Committee on Foreign Investment in the United States (CFIUS). The agreement will also include terms requiring a majority of the United States Steel Corporation board seats, as well as key executive positions such as CEO and CFO, to be held by US citizens. Trump Media Group (DJT.US) completes $2.44 billion financing to become a major holder of Bitcoin among listed companies. Trump Media Group announced today that it has completed a private placement with approximately 50 institutional investors as previously announced. The offering includes: 1) the sale of 55,857,181 shares of common stock at a price of $25.72 per share, raising approximately $1.44 billion in gross proceeds; 2) the issuance of $1 billion in principal amount of 2028 convertible senior secured notes with a conversion price of $34.72 per share. The two offerings together raised approximately $2.44 billion. Trump Media will use approximately $2.32 billion in net proceeds to build its Bitcoin reserves and for other general corporate purposes and working capital. As one of the largest Bitcoin reserve transactions among publicly traded companies, the net proceeds from this offering and the company's strategic plans will make Trump Media Group one of the companies with the most Bitcoin holdings among US listed companies. After the offering, Bitcoin will be.Included in the assets of the Trump Media Group's balance sheet, is a total of $759 million in cash, cash equivalents, and short-term investments as of the end of the first quarter of 2025."Bonjour, comment a va?" "Hello, how are you?"