【TOP1 Morning】 S&P and Nasdaq broke records! Gold rose slightly, pay attention to the financial report of the technology giant

Forex: USD rebounds

The U.S. dollar rebounded from an eight-week low against the euro on Monday. It also rose against major currencies such as the yen and the Swiss franc. Investors consolidated their positions before the Federal Reserve’s monetary policy meeting this week.

Since late March, the U.S. dollar has fallen by nearly 3%, as U.S. Treasury bond yields are stuck in a narrow range, and the rise in Treasury bond yields this year will support the U.S. dollar.

“Before the Fed’s policy decision was announced, short US dollar trading was more cautious,” said Joe Manimbo, senior market analyst at Western Union Business Solutions. “The Fed may give hints this week on the possibility of policy reduction later this year. risk."

The Federal Open Market Committee (FOMC) of the Federal Reserve will conclude its two-day meeting on Wednesday. Although no major policy adjustments are expected, investors will pay close attention to Powell's speech at the press conference after the meeting.

Stock market: U.S. stocks rose sharply

The Dow Jones Industrial Average fell 0.18% to close at 33,981.57 points, and the S&P 500 index rose 0.18% to close at 4,187.62 points. The Nasdaq index climbed 0.87% to close at 14,138.78 points.

The US stock market S&P 500 Index and Nasdaq Index both set record highs on Monday. Boosted by Tesla and other weighted growth stocks, a large number of companies will announce earnings this week.

The Nasdaq broke its closing record and confirmed that the 11% correction that began after the index set its last closing record on February 12 has ended. The Nasdaq hit a record closing low on March 8.

Tesla fell about 0.4% after the market, after the company announced that its first-quarter revenue exceeded Wall Street expectations. Tesla rose 1.2% during the session.

From Tuesday to Thursday, companies such as Microsoft, Google's parent company Alphabet, Apple, and Facebook, which account for about 40% of the S&P 500's market value, will announce financial reports, and their stock prices will also rise on Monday.

Gold: Gold prices rose slightly

The price of gold stabilized in a relatively narrow range, as investors waited for the Fed’s policy hints from this week’s meeting, and the price of palladium, which had a serious demand deficit, climbed to a record high.

Spot gold closed at 1,781.38 US dollars per ounce, up 4.18 US dollars or 0.24%, the highest intraday hit 1783.49 US dollars per ounce, the lowest touched 1768.49 US dollars per ounce. Last week, spot gold closed up 0.69 US dollars or 0.04%.

COMEX June gold futures closed up 0.1%, at $1,780.10 per ounce.

Bob Haberkorn, senior market strategist at RJO Futures, said, "The gold market just hopes to wait for the Federal Open Market Committee to see what they think about inflation, and then take action." Haberkorn added that traders will also pay attention to the Fed's long-term outlook on interest rates and its action plan on short-term interest rates.

Crude oil: oil prices continue to rise

The two major crude oil futures continued their gains. As of press time, US WTI crude oil futures for June closed up 71 cents, or 1.15%, to $62.14 per barrel; Brent June crude oil futures also closed up 71 cents, or 1.08%, to $66.11 per barrel. This week, U.S. oil closed down 1.60% and Bursa oil closed down 0.99%.

UBS Petroleum analyst Giovanni Staunovo said: "The European Purchasing Managers Index is strong, the U.S. dollar is weak, and some European countries plan to relax some restrictions and other factors have supported oil prices to a certain extent. However, due to the continuous increase in confirmed cases of new crown pneumonia, India’s demand for oil Concerns limit the upside.”

Today’s focus is on:

11:00 Follow this week's technology giant earnings report

22:00 U.S. Central Bank Consumer Confidence (April)