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[US Stock Market] Trump: No help for America's country; in the future, we will have to learn to find oil on our own. The Dow rises 504 points, the NASDAQ increases by 1.5% (continually updating)
U.S. President Trump posted on the social media platform Truth Social, saying, “All the countries that can’t obtain aviation fuel because of the Strait of Hormuz—for example, the U.K., which refused to take part in Iran’s ‘decapitation operation’—here’s my advice for you: First, buy oil from the United States; we have plenty of oil. Second, summon the courage and go to the Strait of Hormuz to seize it. You have to start learning self-reliance. The United States won’t help you the way it did before—just as you didn’t help us back then.”
He added, “Iran has basically been destroyed. The hardest part is already over,” and urged those “spectator” countries to get their own oil.
In another post, he said, “France won’t allow planes loaded with military supplies to fly over French airspace on their way to Israel. France is not helping at all on the ‘Iran slaughterer’ issue, and this individual has been successfully eliminated! The United States will remember that!!”
Foreign media reported that Trump told aides that even if the Strait of Hormuz is basically closed, he is still willing to end U.S. military actions against Iran, and that he hopes this will improve market expectations for an end to the conflict that has already lasted a month. Oil prices were steady: New York crude for May rose 1% to $103.95, and Brent crude for June rose 0.1% to $107.45. Gold continued to climb: New York gold for May rose 0.7% to $4,590, and spot gold rose 1.1% to $4,558.
The U.S. dollar index was a bit soft, hovering around the 100 level, at a temporary 100.07. Fed Chair Powell suggested that near-term rate hikes may not be necessary, and U.S. long-dated Treasury yields continued to fall steadily; the 10-year yield was temporarily at 4.317%.
U.S. stocks on Tuesday opened higher: the Dow rose 542 points to 45,758, the S&P rose 102 points to 6,445, and the Nasdaq rose 444 points, or 2.1%, to 21,239.
On the focus stocks, large tech shares continued to rebound: Meta (U.S.: META) rose 4%, and Google (U.S.: GOOG) rose 3%; Nvidia (U.S.: NVDA) and Amazon (U.S.: AMZN) also rebounded by nearly 3%.
Hong Kong stocks and ADR market updates continue—see more here: Next page
Intraday performance:
【20:55】Trump: Countries that haven’t helped the U.S. must learn how to get oil themselves in the future Dow futures up 509 points, Nasdaq futures up 0.8% Spot gold up 1%
【18:00】Dow futures up 407 points, Nasdaq futures up 0.8% Spot gold up 1%
【15:00】Dow futures up 321 points, at 45,786; S&P futures up 39 points, at 6,427; Nasdaq futures up 132 points, or 0.6%, at 23,272.
【15:00】Oil prices were steady: New York crude up 0.1% to $102.97; Brent crude up 0.7% to $107.48. Gold continued to rebound: New York gold up 0.7% to $4,590; spot gold up 1.1% to $4,558.
【14:06】【U.S. stocks analysis】Powell hints at no rate hikes in the near term; U.S. stocks rise first then pull back. Analysis: Rate-hike odds have been overestimated; if fighting cools down in the short term, the S&P could return to 7,000
【12:08】【New IPO】Nasdaq rolls out “fast-track inclusion” rules, paving the way for unicorns like SpaceX to surge into the Nasdaq 100 index quickly
【10:48】【Gold price trend】Gold prices continue to rise by more than 1%. Powell eases rate-hike expectations + Trump, reportedly, is also willing to end the conflict even if the Strait of Hormuz is not reopened
【08:03】【U.S. rates】Powell says long-term inflation expectations remain under control and emphasizes monetary policy is in a good position
$1 and below covers the March 30 U.S. stock market====
Monday: Iran’s parliament approved a fee at the Strait of Hormuz; U.S. oil above 100; Nasdaq turns lower by 0.7%; Dow rose 49 points, at one time up 459 points
Iran’s Islamic parliament on Monday approved a bill to charge tolls for ships transiting the Strait of Hormuz. Tankers could be charged as much as $2 million in fees.
U.S. President Trump claimed that negotiations with Iran had made major progress, but warned that if the Strait of Hormuz did not resume operations, the U.S. might attack Iran’s energy infrastructure. U.S. oil promptly moved above the 100 level, and the Nasdaq turned lower.
Watch the close of U.S. stocks:
U.S. stocks had mixed performance on Monday. After the Dow opened higher, its gains widened to as much as 459 points, then briefly turned down by 109 points. It closed up 49 points at 45,216; the S&P fell back by 0.39%, and the Nasdaq dropped 0.73%.
New York crude rose 3.25% to $102.88 and ended the session above the $100 level. Brent May crude closed up 0.18% at $112.78.
Activist investor Bill Ackman said the two leading mortgage agencies, Fannie Mae and Freddie Mac, had fallen behind, sparking a surge in their share prices of 51% and 47%, respectively. U.S. Aluminum rose 8.2%.
When Fed Chair Powell spoke publicly on Monday (30th), he said the Fed’s response measures to the Iran war largely depend on how the conflict affects the U.S. public’s inflation expectations. He noted that people often overlook supply shocks of any kind. But the key is to closely watch inflation expectations. The central bank faces risks on both its dual responsibilities: maintaining price stability and achieving maximum employment; at present, the Fed’s monetary policy is appropriate to hold an observer stance, emphasizing that the Federal Open Market Committee (FOMC) will achieve the 2% inflation target.
He also said it is well known that monetary policy implementation has long and unstable lag effects; therefore, by the time the effects of tightening monetary policy become apparent, an oil price shock may already be over, and comments—or any implied signals—may not necessarily translate into rate hikes in the short term.
On Monday, Trump posted on the social platform Truth Social, saying the U.S. is conducting serious talks with an entirely new, more rational Iranian regime to end its military actions in Iran. He also said the talks have made significant progress, but it is still unclear whether both sides are truly negotiating.
Trump said, “They agreed to most of what we asked. How could they not?” and added, “We will also make some other demands.” However, he refused to disclose what specific concessions Iran made.
Hong Kong stocks and ADR market updates continue—see more here: Next page
Intraday performance:
【23:10】Powell: Monetary policy has lag effects; hints that near-term rate hikes may not be needed Oil jumps 2% Dow up 320 points
【21:30】Trump: If the Strait of Hormuz can’t reopen, we will blow up all of Iran’s power plants and oil wells Oil jumps 2% Dow up 396 points
【19:55】Trump: If the Strait of Hormuz can’t reopen, we will destroy all of Iran’s power plants and oil wells again as oil jumps 2% Dow futures up 244 points
【18:15】Dow futures up 153 points; Nasdaq futures up 0.3% Focus this week: Middle East war situation + jobs data
【18:10】【Iran crisis】Iran confirms the death of the commander of the Revolutionary Guards Navy|denies any direct negotiations (updates ongoing)
【13:26】Dow futures up 13 points to 45,437; S&P futures up 6 points to 6,418; Nasdaq futures up 22 points, or nearly 0.1%, to 23,351.
【13:26】New York crude up 1.3% to $100.98; Brent crude up 2.3% to $115.17. On gold: the latest rebound is steadier; New York gold up 0.2% to $4,534; spot gold up 0.4% to $4,512.
【12:19】【ECB】Member: Lock in the 2% inflation target; talking about rate hikes now is premature; warns of a systemic blow to the U.S. financial system
【10:58】【Iran crisis】Trump says the U.S. may seize Iran’s oil and take control of Khark Island’s export hub
【10:21】【Japanese yen trend】Jun Muramura warns it will take “bold action”—each 100 yen to Hong Kong dollars at 4.9
【09:30】【Oil price trend】Schroders expects high oil prices to last longer, but the pain would be only about half of the peak during the 2007 crisis
【09:17】【Gold price trend】Gold recorded its first rise since the outbreak of the Middle East war last week, then fell again this week
【08:33】【Iran crisis】As the Iran war escalates, oil prices keep rising; stock markets in Japan and South Korea also experience another “Black Monday”
【07:30】【Iran crisis】Oil rises another 2%; Pakistan: plans for U.S.-Iran talks in the coming days; Iran allows 20 ships to pass through the strait—Trump considers dispatching ground forces (updates ongoing)
【07:30】U.S. President Trump said he would extend the bombing of Iran’s power plants for another 10 days. It did not ease market worries; instead, there is concern that the longer war could affect oil supplies, intensifying global economic shocks. U.S. stocks fell last Friday: the Dow closed at 45,166 points, down 793 points; the S&P fell 1.67%; the Nasdaq fell 2.15%.
Watch the close of U.S. stocks:
U.S. stocks’ developments last week—see more here: [U.S. stock close] Iran says its nuclear facilities were hit; fighting could expand; the Dow sinks 793 points; oil rises again; the U.S. dollar breaks above 100