Market Overview

U.S. stocks are back to rotation, with $Dow Jones Industrial Average (.DJI.US)$ hitting a record high. Tech stocks have pulled down $S&P 500 Index (.SPX.US)$ and $Nasdaq Composite Index (.IXIC.US)$ , while the energy sector has risen over 1%. $Tesla (TSLA.US)$ fell more than 3%, and $NVIDIA (NVDA.US)$ dropped over 2%. $PDD Holdings (PDD.US)$ 's stock plunged nearly 29% after its earnings report, marking the largest single-day drop since its U.S. IPO. Chinese stocks also fell, but $XPeng (XPEV.US)$ saw a rise of over 7% due to CEO share purchases.

U.S. Treasury yields have slightly increased. After reaching a one-year low, the U.S. dollar index turned up, while the yen fell after hitting a three-week high. The offshore yuan briefly crossed 7.11 for the first time in three weeks before dropping over 100 points. Bitcoin climbed to $65,000 before falling back by $2,000.

The Middle East situation has caused a surge in oil prices by over 3%. Brent crude rose more than 3% to a two-week high, while WTI crude climbed nearly 4%. Gold increased for two consecutive days, nearing record highs during the session.