US stock trend | US-Iran negotiations hit another deadlock, Dow Jones stabilizes

The US and Iran ceasefire negotiations have once again hit a dead end, with US President Trump rejecting Iran’s latest ceasefire proposal, dampening market hopes for passage through the Strait of Hormuz, and the Dow stabilizing.

As of 11:08 p.m. Hong Kong time, the Dow was at 49,623 points, up 14 points or 0.03%; the S&P 500 was at 7,413 points, up 14 points or 0.19%; the Nasdaq was at 26,264 points, up 17 points or 0.07%.

Apart from the Middle East situation, another major focus this week will be Trump’s visit to China from Thursday to Friday and his meeting with Chinese President Xi Jinping. The market is watching whether the two leaders can have a substantial impact on the Middle East situation, energy supply, and global supply chain stability, further influencing the trend of risk assets.

Additionally, the US will release the April Consumer Price Index (CPI) on Tuesday, which will be an important basis for the market’s expectations of the Federal Reserve’s next policy move. According to a Bloomberg survey, the market expects the April CPI to increase by 0.6% month-over-month, potentially marking the largest single-month increase in four years, indicating that oil price shocks are gradually transmitting to prices.

In European stocks, the UK FTSE 100 index was at 10,270 points, up 37 points or 0.36%; the German DAX index was at 24,281 points, down 56 points or 0.23%; the French CAC 40 index was at 8,037 points, down 74 points or 0.92%; and the Italian FTSE MIB index was at 49,505 points, up 215 points or 0.44%.

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