{Economic Information Agency} 25th exclusive news: On Thursday (24th), the three major U.S. stock indices showed mixed performance, with the Dow Jones falling for the third consecutive trading day. The atmosphere at the much-watched China-U.S. summit was friendly, with Chinese President Xi Jinping stating that both sides have reached a new economic and trade joint arrangement. Both sides also discussed artificial intelligence issues. U.S. long-term government bond yields rose to a more than 20-year high, coupled with oil prices rising again, continuously pressuring the market. However, market expectations that the U.S. and Iran may make progress on reopening the Strait of Hormuz and easing conflicts drove U.S. stocks to rebound from intraday lows.
The three major indices fell significantly in early trading, but the declines narrowed later. The Dow Jones closed down 161.61 points, or 0.31%, at 51,349.98 points; the S&P 500 fell 1.9 points, or 0.02%, to 7,704.13 points; the Nasdaq rose slightly by 3.34 points, or 0.01%, to 26,939.37 points.
On Thursday, U.S. President Trump held talks with Chinese President Xi Jinping at the White House. Trump described their meeting as "very good" and said that teams from both countries are advancing work on issues such as trade relations. During the talks, Xi Jinping emphasized that China and the U.S. should strengthen communication and avoid confrontation, and exchanged views on topics including artificial intelligence, trade, and security.
In the bond market, U.S. long-term government bond yields surged sharply. The yield on 30-year U.S. Treasury bonds hit a high of 5.446% during the day, the highest since June 2004; the 10-year Treasury yield briefly rose to 5.15%, a new high since 2007, before retreating to around 5.1%.
*Oil prices rebound significantly*
In the oil market, international oil prices rebounded significantly on Thursday. New York crude futures closed at $95.35 per barrel, up 3.4%; London Brent crude futures rose 2.8% to $100.97 per barrel.
In terms of stocks, Oracle (US.ORCL) shares fell more than 3.5%. Market news indicated that the company issued a force majeure notice to developers regarding the "Project Jupiter" data center project in New Mexico to reduce risks of project delays and related costs. Oracle later stated that the project is still progressing according to the original plan.
Performance among large tech stocks was mixed: Meta (US.META) surged 4.5%, approaching a record high; Google (US.GOOG) rose 1.2%; Nvidia (US.NVDA) fell 0.4%, Tesla (US.TSLA) dropped about 0.6%, Microsoft (US.MSFT) declined 0.5%, and Apple (US.AAPL) fell approximately 0.3%.
*Dollar strength continues, yen briefly breaks below 159*
The dollar maintained its strength, with the U.S. Dollar Index rising to about 101.3, reaching a nearly two-month high, up approximately 0.2% during the day. The dollar-yen continued its upward trend, hitting a high of around 159.04 intraday, trading near 158.9, up 0.4%. The euro against the dollar remained weak, falling to around 1.136, staying near a nearly two-month low, trading around 1.137, down about 0.1%.
In terms of gold, spot gold was pressured by rising dollar strength and U.S. bond yields, trading weaker on Thursday. Spot gold fell 0.4% to $4,271 per ounce, while New York futures gold dropped 0.3% to $4,305 per ounce. (yc)
The three major indices fell significantly in early trading, but the declines narrowed later. The Dow Jones closed down 161.61 points, or 0.31%, at 51,349.98 points; the S&P 500 fell 1.9 points, or 0.02%, to 7,704.13 points; the Nasdaq rose slightly by 3.34 points, or 0.01%, to 26,939.37 points.
On Thursday, U.S. President Trump held talks with Chinese President Xi Jinping at the White House. Trump described their meeting as "very good" and said that teams from both countries are advancing work on issues such as trade relations. During the talks, Xi Jinping emphasized that China and the U.S. should strengthen communication and avoid confrontation, and exchanged views on topics including artificial intelligence, trade, and security.
In the bond market, U.S. long-term government bond yields surged sharply. The yield on 30-year U.S. Treasury bonds hit a high of 5.446% during the day, the highest since June 2004; the 10-year Treasury yield briefly rose to 5.15%, a new high since 2007, before retreating to around 5.1%.
*Oil prices rebound significantly*
In the oil market, international oil prices rebounded significantly on Thursday. New York crude futures closed at $95.35 per barrel, up 3.4%; London Brent crude futures rose 2.8% to $100.97 per barrel.
In terms of stocks, Oracle (US.ORCL) shares fell more than 3.5%. Market news indicated that the company issued a force majeure notice to developers regarding the "Project Jupiter" data center project in New Mexico to reduce risks of project delays and related costs. Oracle later stated that the project is still progressing according to the original plan.
Performance among large tech stocks was mixed: Meta (US.META) surged 4.5%, approaching a record high; Google (US.GOOG) rose 1.2%; Nvidia (US.NVDA) fell 0.4%, Tesla (US.TSLA) dropped about 0.6%, Microsoft (US.MSFT) declined 0.5%, and Apple (US.AAPL) fell approximately 0.3%.
*Dollar strength continues, yen briefly breaks below 159*
The dollar maintained its strength, with the U.S. Dollar Index rising to about 101.3, reaching a nearly two-month high, up approximately 0.2% during the day. The dollar-yen continued its upward trend, hitting a high of around 159.04 intraday, trading near 158.9, up 0.4%. The euro against the dollar remained weak, falling to around 1.136, staying near a nearly two-month low, trading around 1.137, down about 0.1%.
In terms of gold, spot gold was pressured by rising dollar strength and U.S. bond yields, trading weaker on Thursday. Spot gold fell 0.4% to $4,271 per ounce, while New York futures gold dropped 0.3% to $4,305 per ounce. (yc)
