Overnight US stocks | S&P 500 index rises for five consecutive days. Sources say that good news is expected to come soon from both the US and Iran.
As of the close, the Dow Jones fell 85.42 points, a decrease of 0.18%, to close at 46584.46 points; the Nasdaq rose 21.51 points, an increase of 0.10%, to close at 22017.85 points; the S&P 500 index rose 5.02 points, an increase of 0.08%, to close at 6616.85 points.
On Tuesday, the three major stock indexes showed mixed movements, with the S&P 500 index rising for the fifth consecutive trading day. During an interview, Trump stated that the US is currently engaged in "intense negotiations" regarding the Iran conflict, but did not provide further details. He also mentioned that he will soon receive a full briefing on the "two-week ceasefire" proposal made by the Prime Minister of Pakistan.
[US Stocks] At the close, the Dow Jones fell 85.42 points, or 0.18%, to 46,584.46 points; the Nasdaq rose 21.51 points, or 0.10%, to 22,017.85 points; and the S&P 500 index rose 5.02 points, or 0.08%, to 6,616.85 points. Broadcom Inc. (AVGO.US) rose over 6%, and Intel Corporation (INTC.US) rose 4%. The Nasdaq Golden Dragon Index fell nearly 1%.
[European Stocks] The Germany DAX30 index fell 251.66 points, or 1.09%, to 22,916.42 points; the UK FTSE 100 index fell 86.39 points, or 0.83%, to 10,349.90 points; the France CAC40 index fell 53.65 points, or 0.67%, to 7,908.74 points; the Europe Stoxx 50 index fell 59.11 points, or 1.04%, to 5,633.75 points; the Spain IBEX35 index fell 116.75 points, or 0.67%, to 17,439.15 points; and the Italy FTSE MIB index fell 221.44 points, or 0.49%, to 45,403.50 points.
[Asian Stock Markets] The Nikkei 225 index edged up, and the South Korea KOSPI index rose by 0.82%.
[Cryptocurrency] Bitcoin rose over 1.3% to $69,729.66, and Ethereum rose 1.7% to $2,140.88.
[Crude Oil] The price of light crude oil futures for May delivery on the New York Mercantile Exchange rose by 54 cents to $112.95 per barrel, an increase of 0.48%; and the price of Brent crude oil futures for June delivery on the London Mercantile Exchange fell by 50 cents to $109.27 per barrel, a decrease of 0.46%.
[US Dollar Index] The US dollar index, which measures the dollar against six major currencies, fell by 0.12% to 99.857 at the end of the market. At the close of the New York market, 1 Euro exchanged for $1.1574, higher than the previous trading day's $1.1549; 1 Pound exchanged for $1.3251, higher than $1.3241 from the previous trading day. 1 Dollar exchanged for 159.73 Yen, higher than 159.63 Yen from the previous trading day; 1 Dollar exchanged for 0.7988 Swiss Franc, higher than 0.7977 Swiss Franc from the previous trading day; 1 Dollar exchanged for 1.3899 Canadian Dollar, lower than 1.3914 Canadian Dollar from the previous trading day; 1 Dollar exchanged for 9.5065 Swedish Krona, higher than 9.4355 Swedish Krona from the previous trading day.
[Precious Metals] Spot gold rose by 1.21% to $4,706.32, and spot silver closed at $72.992.
[Macro News]
Sources: Good news is expected from the US-Iran soon. After Pakistani Prime Minister Shaabaz proposed the "two-week plan," sources revealed that good news is expected from the US-Iran soon, with a final agreement expected to be reached by the evening of the 7th local time. Shaabaz earlier posted on social media, saying, "Diplomatic efforts to peacefully end the current Middle East conflict are progressing firmly and are expected to achieve tangible success soon." To allow space for diplomatic progress, he requested Trump to extend the "deadline" by two weeks, while also requesting "Iranian brothers" to open the Strait of Hormuz for two weeks as a goodwill gesture.
PM of Pakistan requests Trump to extend the deadline by two weeks, calls for a two-week ceasefire and Iran to open the strait. The Prime Minister of Pakistan stated that he has requested U.S. President Trump to extend the final deadline for Iran by two weeks and urged all parties in conflict to cease fire for two weeks in all regions to achieve a complete end to the Iran conflict through diplomatic means. He pointed out that diplomatic efforts to peacefully resolve the ongoing Middle East conflict are steadily progressing and are expected to achieve substantive results in the near future. He also called on Iran to open the Strait of Hormuz in the next two weeks as a goodwill gesture.
EIA: Even if the Strait of Hormuz reopens, oil prices may continue to rise in the coming months. The U.S. Energy Information Administration (EIA) stated on Tuesday that even if the Strait of Hormuz reopens, oil prices may continue to rise in the coming months. The agency currently predicts that this year's Brent crude oil spot price will average $96 per barrel, higher than the previous forecast of $78.84, and that retail gasoline and diesel prices will continue to rise. The EIA stated that even if the war ends, it will take several months for oil transportation through the Strait of Hormuz to fully resume. During this period, oil prices will remain high until oil transportation resumes and oil-producing countries in the Middle East return to normal production levels. The EIA stated: "Just as we have never seen the Strait close before, we have never seen it reopen. What it will look like remains to be seen. Throughout the forecast period, we will maintain a risk premium on oil prices, as we expect the uncertainty of future supply disruptions to keep oil prices above pre-conflict levels."
Fed's Goolsbee: Inflationary impact of Iran conflict puts the Fed in a dilemma. Fed's Goolsbee expressed concern that the Iran war will not only hamper economic growth but also raise inflation rates, putting the Fed in a difficult position as there is no clear "operating guide" to guide how to respond. Goolsbee said: "What worries me the most right now is that we have to deal with the impending oil crisis, which will cause prices to rise in the form of stagflation. Tariffs previously led to soaring prices, but prices were supposed to gradually fall back, and now the impact is hitting before the effects dissipate."
[Individual Stock News]
Pimco considers providing $14 billion in debt financing for Oracle Corporation's data center. According to sources, The Pacific Investment Management Company (Pimco) is considering providing $14 billion in debt financing for Oracle Corporation's (ORCL.US) data center. If an agreement is reached, this bond giant will become a major supporter of Oracle Corporation's data center campus in Salin Town, Michigan. Oracle Corporation plans to provide services for OpenAI applications in the campus. Sources stated that this financing may be in the form of bonds, and Pimco may sell some bonds to other investors.
Apple Inc.'s foldable iPhone still expected to be launched in September. According to sources, Apple Inc.'s (AAPL.US) first foldable phone is expected to be unveiled as scheduled later this year during the usual iPhone release period, dispelling concerns about major production issues. The company plans to launch this foldable model in September, along with the iPhone 18 Pro and 18 Pro Max. Earlier, a report by Nikkei News stated that Apple Inc. had encountered some difficulties during the engineering testing phase of the phone, which could delay the production and shipping schedule of the product. After the news came out, Apple Inc.'s stock price briefly fell by 5.1%. Although the complexity of the new display screen and materials may result in initial supply limitations for a few weeks, the above-mentioned sources stated that Apple Inc. is currently planning to release the device around the same time or slightly after the launch of the new non-foldable products. However, there are still six months to go before the release, and production has not yet fully commenced. This means that the specific timing is not yet final.
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