Overnight US stocks | The S&P 500 Index closed above 7600 points for the first time, with Marvell Technology, Inc. (MRVL.US) surging 32%. Bitcoin briefly fell below $67,000.

On Tuesday, the three major indices hit new record highs again, with the S&P 500 index closing above 7600 points for the first time. US President Trump took to social media to refute fake news reports claiming that Iran and the US had stopped their dialogue a few days ago. Trump stated that the dialogue between the two countries has been ongoing, including four days ago, three days ago, two days ago, one day ago, and today. The direction of the dialogue is uncertain, but as Trump said to Iran: "Either way, now is the time for you to make a deal." [US Stocks] At the close, the Dow Jones rose 228.91 points, or 0.45%, to 51307.79 points; the Nasdaq rose 7.09 points, or 0.03%, to 27093.90 points; the S&P 500 index rose 9.94 points, or 0.13%, to 7609.90 points. Microsoft Corporation (MSFT.US) fell by 4%, Alphabet Inc. Class C (GOOG.US) fell nearly 4%, and Marvell Technology, Inc. (MRVL.US) surged 32%. The Nasdaq China Golden Dragon Index closed up 1.8%, while Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose over 4%. [European Stocks] The Germany DAX30 index rose 142.91 points, or 0.57%, to 25137.04 points; the UK FTSE 100 index rose 37.77 points, or 0.37%, to 10376.72 points; the France CAC40 index rose 62.50 points, or 0.77%, to 8209.09 points; the Euro Stoxx 50 index rose 72.80 points, or 1.21%, to 6107.75 points; the Spain IBEX35 index rose 127.94 points, or 0.71%, to 18273.54 points; the Italy FTSE MIB index rose 805.34 points, or 1.62%, to 50580.50 points. [Asian Stock Markets] The Nikkei 225 index fell by 0.3%, while the South Korea KOSPI index rose by 0.15%. [US Dollar Index] The US dollar index, which measures the dollar against six major currencies, rose 0.02% on the day, closing at 99.219 in the foreign exchange market. At the close in New York, 1 euro exchanged for 1.1628 US dollars, lower than the previous trading day's 1.1631 US dollars; 1 pound exchanged for 1.3469 US dollars, higher than the previous trading day's 1.3458 US dollars. 1 US dollar exchanged for 159.91 Japanese yen, higher than the previous trading day's 159.76 Japanese yen; 1 US dollar exchanged for 0.7873 Swiss francs, higher than the previous trading day's 0.7864 Swiss francs; 1 US dollar exchanged for 1.3832 Canadian dollars, lower than the previous trading day's 1.3842 Canadian dollars; 1 US dollar exchanged for 9.3155 Swedish krona, higher than the previous trading day's 9.3059 Swedish krona. [Cryptocurrency] Bitcoin briefly fell below $67,000 and is now trading at $67,280; Ethereum fell below the $1900 mark and is now at $1890.22. [Oil] Light crude oil futures for delivery in July on the New York Mercantile Exchange rose $1.60 to close at $93.76 per barrel, up 1.74%; Brent crude oil futures for delivery in August rose $1.02 to close at $96.00 per barrel, up 1.07%. [Precious Metals] Spot gold is trading at $4488.34 per ounce; spot silver is trading at $75.134 per ounce. [Macro News] Rubio: US and Iran still talking, uncertainty about when agreement will be reached. US Secretary of State Rubio said at a hearing of the Senate Foreign Relations Committee on the 2nd that the US is still negotiating with Iran, but he is uncertain when an agreement can be reached. This is Rubio's first testimony in Congress since the US and Israel launched a massive military operation against Iran at the end of February. When asked by lawmakers about the progress of the US-Iran negotiations, he said, "We are negotiating with Iran," and Iran has agreed to negotiate on some aspects of its nuclear program, which they were not willing to do one month ago or even a year ago. Rubio said that an agreement with Iran "could be reached today, tomorrow, or next week," but this "does not guarantee that a deal that will be approved by Congress can definitely be reached." Rubio also said that the US has not proposed lifting sanctions on Iran or allowing it to access frozen funds as a condition for reopening the Strait of Hormuz. "This has never been discussed or suggested. Any relaxation of sanctions must be conditional. This means that the premise must be to resolve the original issues that led to the imposition of these sanctions, namely Iran's nuclear program." Fed Chairman Powell appoints two advisors, both conservative. Federal Reserve Chairman Powell has hired two external individuals to serve as advisors to assist him in the early stages of his tenure. One of them was involved in drafting a conservative policy blueprint that suggested a thorough structural reform of the Federal Reserve. According to sources, one of the advisors is Paul Winfree. During Trump's first term, he served as a White House domestic policy expert. He is also the author of the Federal Reserve chapter in the "2025 Plan"; the "2025 Plan" is a conservative policy blueprint developed before the 2024 election. The other advisor is Daniel Heil, a policy researcher at the Hoover Institution at Stanford University who served as an economic policy advisor to the 2016 presidential campaign team. His recent writings mainly focus on cutting federal healthcare costs and social security issues. Both have long been active in conservative policy circles, and their professional backgrounds are outside the core responsibilities of the Federal Reserve. A source said that these two advisors will work on a temporary contract basis to assist Powell in policy analysis and planning; Powell has not made a final decision on whether to appoint them to longer-term, formal positions within the Federal Reserve. EU Artificial Intelligence Data Center Plan Hits Snags Due to Delays and Funding Issues. According to sources, the EU's plan to invest 20 billion euros (approximately $23.3 billion) in building five large artificial intelligence data centers is facing challenges, as delays and funding issues have deterred some potential partners. The EU announced its support for the so-called "superfactory" plan last year, aimed at accelerating private sector investment in AI infrastructure, but the plan faces the risk of setbacks due to unclear demand prospects and timing of subsidies. Poland's Digital Minister said that the tender process was originally set to begin in May but is now expected to start in July. He stated that the projects will be funded in two stages, with funds allocated in 2028 and 2030. A source said that due to a lack of funding, only two of the five data centers in the plan may receive funding before the EU's new budget, currently under negotiation, takes effect in 2028. Canada Officially Proposes Renewing the USMCA Agreement. The Canadian government has proposed to the US and Mexican governments to renew the "United States-Mexico-Canada Agreement" (USMCA). Dominic LeBlanc, the Canadian minister responsible for trade with the US, suggested in a letter to US Trade Representative Jamestown Grille and Mexican Economy Minister Marcelo Ebrard to extend the free trade agreement by 16 years to avoid triggering the statutory annual review process. LeBlanc wrote in the letter, "One party or both parties to the agreement may wish to make proposals for improvements in certain areas to enhance competitiveness in North America. Canada looks forward to continued engagement with the US and Mexico." He also stated, "Parallel discussions with the US on resolving industry tariff issues are crucial." [Stock News] Microsoft Corporation Introduces "Project Solara" Aimed at Integrating AI into Enterprise Mobile Devices. Microsoft Corporation introduced "Project Solara" on Tuesday, a platform designed to support products that use AI agents as the primary interaction method, aiming to free AI agents from the constraints of laptop screens and integrate them into enterprise mobile devices. Microsoft Corporation showcased two "concept designs" developed in collaboration with Qualcomm and MediaTek. One device is essentially an enhanced employee ID badge with Wi-Fi, Bluetooth, and wireless connectivity, equipped with a touchscreen and fingerprint reader; the second device is a compact, thick desktop device with a screen. During a conversation between the CEO of Microsoft Corporation and the CEO of Qualcomm, the necessity of developing new types of devices was discussed, which would adopt new forms suitable for their operating environment and would be able to run specific AI agents. They mentioned that existing interfaces like PCs and phones are not always the best solution, so the new devices developed under the "Project Solara" project will address this need. Alphabet's $80 billion stock financing may set a new fundraising record. According to data compiled by institutions, Alphabet (GOOG.US)'s $80 billion stock financing for raising funds for artificial intelligence infrastructure construction is expected to become the largest stock capital market transaction in history. The jointly issued shares (including common shares, capital shares, and similar equity-like mandatory convertible preferred shares) were priced later on Tuesday. The scale of this financing is expected to exceed the around $70 billion common and preferred stock offering by Petroleo Brasileiro SA Sponsored ADR Pfd in 2010. The largest single transaction in the parent company of Alphabet Inc. Class C's deal this timea $40 billion "market price issuance" planis expected to kick off in the third quarter. Such issuances allow the company to sell shares to the market without notice from time to time but must regularly disclose the fundraising amount. SpaceX Plans IPO Next Week Seeking Valuation of Around $1.75 Trillion. According to sources, SpaceX plans to launch a major IPO next week, with a target valuation of around $1.75 trillion. Sources state that the rocket manufacturer under Musk may sell less than 5% of its stake, valued at around $600 to $800 billion. This proportion is much lower than a typical IPO. Exact numbers could still change by Wednesday afternoon. The company plans to submit updated documents on Wednesday afternoon, which will include the price guidance range for this offering. Earlier this year, after acquiring the AI company xAI, SpaceX was valued at around $1.25 trillion.