Overnight US stocks | Trump rejects Iran's peace proposal, three major indexes close slightly higher. Chip stocks like Intel Corporation (INTC.US) and Micron Technology, Inc. (MU.US) hit new closing highs.

On Monday, the US stock market closed slightly up, with the S&P 500 index and the Nasdaq hitting new highs again. Market sentiment was suppressed by uncertainty in the Middle East situation, as US President Trump rejected Iran's peace proposal over the weekend, calling it "completely unacceptable." This move pushed oil prices up by about 3%, and the rise in energy costs added additional pressure to the stock market. [US stocks] At the close, the Dow rose 95.31 points, or 0.19%, to 49704.47 points; the Nasdaq rose 27.05 points, or 0.10%, to 26274.13 points; the S&P 500 index rose 13.91 points, or 0.19%, to 7412.84 points. NVIDIA Corporation (NVDA.US), Qualcomm (QCOM.US), Intel Corporation (INTC.US), Micron Technology, Inc. (MU.US), and Western Digital Corporation (WDC.US) all hit new all-time closing highs. The Nasdaq Golden Dragon Index rose 1%, with Baidu Inc Sponsored ADR Class A (BIDU.US) rising 3%. [European stocks] The German DAX 30 index rose 38.36 points, or 0.16%, to 24345.78 points; the UK FTSE 100 index rose 31.25 points, or 0.31%, to 10264.32 points; the French CAC 40 index fell 56.19 points, or 0.69%, to 8056.38 points; the Euro Stoxx 50 index fell 19.38 points, or 0.33%, to 5892.15 points; the Spanish IBEX 35 index fell 47.36 points, or 0.26%, to 17842.04 points; Italy's FTSE MIB index rose 365.96 points, or 0.74%, to 49655.50 points. [Asian stocks] The Nikkei 225 index fell 0.47%, the Korea Composite Stock Price Index rose 4.32%, the India Sensex index fell 1.7%, and the Straits Times Index rose 0.42%. [US dollar index] The US dollar index, which measures the US dollar against six major currencies, rose by 0.06% for the day, closing at 97.955 in the currency market. At the close of the New York currency market, 1 euro exchanged for 1.1775 US dollars, lower than the previous trading day's 1.1778 US dollars; 1 pound exchanged for 1.3629 US dollars, higher than the previous trading day's 1.3622 US dollars. 1 US dollar exchanged for 157.21 Japanese yen, higher than the previous trading day's 156.71 Japanese yen; 1 US dollar exchanged for 0.7782 Swiss francs, higher than the previous trading day's 0.7766 Swiss francs; 1 US dollar exchanged for 1.3673 Canadian dollars, lower than the previous trading day's 1.3681 Canadian dollars; 1 US dollar exchanged for 9.2235 Swedish kronor, lower than the previous trading day's 9.2323 Swedish kronor. [Cryptocurrency] Bitcoin rose over 1%, breaking $82,000; Ethereum rose slightly to $2344.42. [Crude oil] Light crude oil futures for June delivery on the New York Mercantile Exchange rose $2.65 to close at $98.07 per barrel, a 2.78% increase; Brent crude oil futures for July delivery rose $2.92 to close at $104.21 per barrel, a 2.88% increase. [Precious metals] Spot gold closed at $4735.26 per ounce; spot silver was at $86.103 per ounce. [Macro News] Media frequently leaks secrets as they attend the war room - Trump calls for an investigation. According to reports, US government officials revealed that Trump privately complained to Acting Attorney General Todd Blanche last month about media leaks following the Iran war, leading the Justice Department to push for an investigation. An official said Blanche promised to seek subpoenas for journalist records involved in sensitive national security reporting. Another government official said Trump handed Blanche a stack of news articles he and other senior officials believed threatened national security, with a note attached that said "treason." Trump was particularly angry about an April 7 media report that detailed how Israeli Prime Minister Netanyahu proposed bombing Iran to Trump, as well as vividly disclosing high-level staff meetings surrounding the issue, including in the highly classified war room. It is worth noting that the media reporting on this matter also received a subpoena dated March 4. Iranian Speaker: The "14-point proposal" is irreplaceable. On the early morning of the 12th local time, Iranian Parliament Speaker Kalibaf posted a message on social media stating that there is no alternative to accepting the Iranian people's rights as stipulated in the "14-point proposal" by Iran. He said that any other approach would be futile and only lead to repeated failures. At the same time, he pointed out that the longer it is delayed, the more the American taxpayers will pay for it. On May 2, the Iranian Tasnim news agency disclosed the new negotiating proposal delivered by Iran to the United States via Pakistan, totaling 14 points and focusing on "ending the war." The main contents include ensuring no more military aggression, the US military withdrawing from surrounding Iranian regions, lifting the naval blockade, unfreezing Iranian frozen assets, paying compensation, lifting sanctions, achieving peace on all fronts (including Lebanon), and establishing a new management mechanism for the Strait of Hormuz, etc. On the same day, US President Trump stated that he would soon evaluate Iran's new negotiating proposal but "cannot imagine" that the proposal "can be accepted." Media reveals that UAE had launched airstrikes on an Iranian refinery in early April. According to reports, multiple sources stated that the UAE had carried out military strikes against Iran. In this war, the UAE has been one of Iran's main targets. The UAE has Western-made fighter jets and surveillance networks, and these attacks show that the country is more willing to use these forces to protect its economic strength and expanding influence in the Middle East. Sources said that the UAE has not publicly admitted to these strikes, including an attack on an Iranian refinery on Lavan Island in the Persian Gulf. The attack took place in early April, just before Trump announced a ceasefire agreement after five weeks of continuous airstrikes, causing a massive fire and halting most of the refinery's production capacity. Iran stated at the time that the refinery was attacked by the enemy and responded by launching intensive attacks on the UAE and Kuwait with missiles and drones. One source said that the US did not express dissatisfaction with the attacks as the ceasefire had not yet been firmly established, and the US privately welcomed the UAE and any other Gulf countries willing to join the fight against Iran to take action. US existing home sales in April grew lower than expected, but continued improvement in housing affordability provides some support. April US existing home sales grew lower than expected, against the background of high mortgage rates and inflation squeezing household budgets, making it difficult for the real estate market to significantly rebound. The National Association of Realtors (NAR) in the US stated on Monday that existing home sales in April rose by 0.2% month-on-month, with seasonally adjusted annual sales reaching 4.02 million units, while expectations were 4.05 million units. The NAR's chief economist Lawrence Yun stated, "Despite mixed signals in the macroeconomic environment, record highs in the stock market and historical lows in consumer confidence, continued improvements in housing affordability provide some support to sales." NAR data showed that the housing affordability index in April rose from 101.4 a year ago to 110.6; the median price of existing homes in that month was $417,700, a 0.9% increase year-on-year. In terms of inventory, existing home supply increased by 5.8% to 1.47 million units but is still well below pre-pandemic levels; up 1.4% from the same period last year. Yun said, "Inventory remains tight. Although multiple offers are not as intense as a few years ago, they still exist. Meanwhile, homes are staying on the market longer, indicating that consumers are more cautious in making decisions." [Major bank ratings] UBS Group AG: Downgraded the rating of Dell Technologies, Inc. Class C (DELL.US) from buy to neutral, and raised the target price from $167 to $243. Deutsche Bank Aktiengesellschaft: Raised the target price of Micron Technology, Inc. (MU.US) from $550 to $1,000.