Here's a summary of the recent trading news:
Stock Markets:
* US Markets: On Tuesday, US stocks continued their upward trend for the sixth consecutive day. The Dow Jones Industrial Average rose by 0.75%, the S&P 500 gained 0.58%, and the Nasdaq Composite increased by 0.55%. This positive sentiment was partly driven by comments from Commerce Secretary Howard Lutnick, who suggested that the White House was nearing a trade agreement. President Trump also indicated that a deal with India could be finalized soon.
* Tech Earnings in Focus: Investors are closely watching earnings reports from major tech companies Meta Platforms and Microsoft, scheduled to be released after the market closes today.
* SMCI Plunges: Super Micro Computer (SMCI) experienced a significant drop of over 15% in extended trading after issuing weaker-than-expected preliminary results for its fiscal third quarter.
* European Markets: European stocks finished mixed on Tuesday, as markets continued to recover from the impact of previously announced trade tariffs.
* Asian Markets: Asian markets were mostly unchanged on Wednesday, as investors processed key economic data, including weak factory activity figures from Japan and China, as well as Australian CPI inflation. Indian stocks saw a slight decline due to rising geopolitical tensions with Pakistan.
Forex Market:
* US Dollar: The US Dollar saw some strengthening due to renewed optimism about potential trade deals, but overall, it has been relatively quiet.
* Japanese Yen: The Yen has been supported by expectations of divergent monetary policies between the Bank of Japan (BoJ) and the Federal Reserve, as well as trade-related uncertainties. Traders are awaiting the BoJ's policy decision on Thursday.
* Australian Dollar: The Australian Dollar is facing headwinds due to increasing expectations of a potential interest rate cut by the Reserve Bank of Australia (RBA) in May.
* Kiwi Dollar (NZD/USD): The NZD/USD pair has declined due to shifting trade signals between the US and China.
* Canadian Dollar: The Canadian Dollar has weakened ahead of the Bank of Canada's (BOC) rate decision today, amid concerns about US tariffs and inflation.
* EUR/GBP: The EUR/GBP pair is holding onto positive gains as traders anticipate GDP data from Germany and the Eurozone.
Other Key Trading News:
* Gold: Gold prices are showing some losses but remain above the $3,300 level. Investors are looking towards key US macroeconomic data for further direction.
* Oil: WTI crude oil prices are declining due to concerns about weakening global economic growth and oil demand.
* Trade Tensions: While there are signs of easing trade tensions, particularly regarding auto tariffs, the situation remains a key factor influencing market sentiment.
* Economic Data: Upcoming key economic data includes US Q1 GDP, inflation figures, and China's PMIs, which are expected to drive market volatility. German unemployment rate and retail sales figures were also released.
Cryptocurrencies:
* Bitcoin is stabilizing around $95,000, with potential for gains towards $100,000 if it breaks out.
* Ethereum and Ripple are trading near their key levels, following Bitcoin's lead.
Please note that this is a snapshot of the news as of Wednesday, April 30, 2025, at 9:36 AM CEST, and the market is subject to constant change.
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