On the first day, U.S. stock markets in New York increased even though there were negative influences like higher global oil prices. The rise was fueled by robust results in technology stocks, including NVIDIA.
The three main indices on the New York Stock Exchange—the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite—rose by 0.1%, 0.3%, and 0.4% respectively. Each of the three indices reached new all-time highs. On the same day, NVIDIA, a company specializing in artificial intelligence, climbed more than 6%, driving the upward trend in technology stocks. Prior to the market opening, Jensen Huang, CEO of NVIDIA, introduced the ‘Grace Blackwell Spark’ CPU designed for AI-powered personal computers and the first laptop developed in collaboration with Microsoft, called the ‘RTX Spark,’ in Taiwan. Computer manufacturers Dell and HP also saw their stock prices increase by 11% and 8.6% respectively. CNBC stated, “NVIDIA’s launch of new processors for personal computers offered widespread support to the market.”
Global oil prices increased on that day. Brent crude ended at $94.98 per barrel, rising 4.2%, while West Texas Intermediate (WTI) crude finished at $92.16 per barrel, surging 5.5%. This came after Israel’s attack on Lebanon targeting the Iran-backed Hezbollah, with Iranian media stating a “pause in ceasefire talks.” Iran has stated that its April ceasefire discussions with the U.S. and the current peace agreement included a requirement to “cease attacks on Lebanon.” Israel claims its strike on Lebanon breached the agreement. As tensions in the Middle East grew, Trump tweeted on Truth Social, “I had a productive conversation with Netanyahu, and no troops will be sent to Beirut,” adding, “Discussions with Iran about the ceasefire are moving quickly.”
U.S. Treasury yields increased as oil prices climbed. The 2-year Treasury yield, which is closely tied to the benchmark interest rate, went up by 0.03 percentage points to 4.04%, whereas the 10-year Treasury yield, considered the benchmark, reached 4.46%, an increase of 0.02 percentage points.
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