Market Overview

Tech stocks boosted $S&P 500 Index(.SPX.US)$ to a new all-time high, with $Nasdaq Composite Index(.IXIC.US)$ marking its sixth consecutive record close. $Tesla(TSLA.US)$ surged over 5%, leading the tech giants, while chip stocks were strong. AI stocks like $Broadcom(AVGO.US)$ rose over 5%, hitting new highs alongside $Microsoft(MSFT.US)$ and $Apple(AAPL.US)$ , though $NVIDIA(NVDA.US)$ dropped from its record peak. In Europe, French stocks led a broad market rebound after the far-right party leader expressed willingness to cooperate with Macron.

US Treasury yields moved off their two-month lows. The dollar index fell from its six-week high, and the yen briefly neared a one-and-a-half-month low. Oil rebounded to a seven-week high, with US crude up over 2%. Gold retreated, with futures down more than 1% during the session. Copper and aluminum on the London Metal Exchange fell for two straight days to one-month lows, while zinc rebounded.

In the Chinese market, A-shares and H-shares opened lower but closed higher, with AI smartphone and Apple concept stocks gaining strength. $BYD COMPANY(01211.HK)$ rose over 1%. During US trading hours, Chinese ADRs narrowed most of their losses after being down 1%, hitting an eight-week low. $NIO-SW(09866.HK)$ gained over 2%, and BYD's OTC shares rose 2%. The offshore yuan neared a two-week low before recovering to 7.27.