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[U.S. Stock Market Close] Nasdaq rises 1.7% S&P hits new high Intel surges 14% Iran claims cargo ship attacked by U.S. military
The US and China leaders are scheduled to meet next week, with US chip stocks leading the rally; Apple reportedly has reached an initial chip manufacturing agreement with Intel, causing Intel to surge over 19%. Meanwhile, the market remains optimistic about positive news from US-Iran negotiations, pushing the Dow and Nasdaq to new all-time highs, while the S&P 500 fluctuates steadily.
See the US stock market close:
The Dow closed up 12 points at 49,609, the S&P 500 rose 0.84%, and the Nasdaq gained 1.71%.
In focus stocks, The Wall Street Journal reports that Apple has reached an initial chip manufacturing agreement with Intel, causing Intel to jump 13.9%. Micron rose 15.5%, Sandisk increased 16.6%.
Nvidia (NVDA) previously surged over 3% to a new high of $217.80, with a market cap reaching as high as $5.28 trillion, closing up 1.8%. News suggests Nvidia’s CEO Huang Renxun may be invited to visit China, fueling market hopes that the company’s chips could still be approved for sale in China.
US Secretary of State Blinken said he expects Iran to respond today to the plan to end the war. Iran, on the other hand, says it is still reviewing the proposal. The plan proposes Iran reopen the Strait of Hormuz within a month, while the US would lift sanctions on Iranian ports. The document also hints that as long as Iran accepts, the war could end, but further agreements on Iran’s nuclear program are still needed.
The US Bureau of Labor Statistics reports that non-farm job additions in April slowed to 115k, but still exceeded expectations of 65k; the previous figure was revised upward from 178k to 185k. The unemployment rate remained at 4.3%. Rate futures show the market’s chance of a Fed rate hike this year has fallen below 10%, with a higher likelihood of rates remaining unchanged.
After two Iranian oil tankers claimed to be attacked in the Strait of Hormuz, Iran’s Foreign Ministry issued a statement condemning US military attacks on two Iranian oil tankers and multiple sites along the Strait. Foreign Minister Araghchi said that whenever diplomatic solutions are available, the US always chooses reckless military adventures. The situation has not escalated further; oil prices remain stable, with NYMEX crude up 0.6% at $95.39, and Brent crude up 1.4% at $101.47.
Iran’s semi-official news agency Mehr reports that an Iranian cargo ship was attacked near the Strait of Hormuz and the Gulf of Oman, resulting in one sailor dead and four missing.
Vincenzo Vedda, Chief Investment Officer at DWS Global, states that the short-term reopening of the strait seems unlikely. Iran recognizes that blocking the Strait of Hormuz exerts significant pressure; after being bombed twice during negotiations, Iran has little reason to trust the US or Israel. Meanwhile, the US cannot afford to back down and must consider mid-term elections, avoiding prolonged conflict that could raise inflation and hurt Republican prospects. The market is beginning to expect a stalemate in the Middle East, with the Strait of Hormuz remaining closed, which would keep the situation unstable.
“New bond king” Jeffrey Gundlach bets that the US government may cut bond yields; in response, White House Economic Advisor Kevin Hassett implied Gundlach’s idea of debt restructuring is equivalent to default, which the current government would never do, even in a million years.
Hassett said the latest employment data do not support a rate hike. Fed Governor Stephen Miran mentioned that Fed Chair Powell’s term ends on the 15th, and his continued service could help with the transition to a new chair.
Hong Kong stocks and ADR markets continue to update; details on the next page
Market overview:
【23:05】Blinken: Iran expected to respond today; Dow up 95 points, Nasdaq hits new high
【21:30】US labor market stabilizing, rate hike fears easing; Dow up 188 points, Nasdaq up 0.8%
【20:30】【US economic data】US April non-farm payrolls fall to 115k, above expectations of 65,000; April unemployment rate steady at 4.3%
【18:20】US April unemployment and non-farm data before release; Dow futures up 160 points, Nasdaq futures up 0.7%
【15:20】Dow futures up 54 points at 49,754; S&P futures up 20 points at 7,383; Nasdaq futures up 136 points or nearly 0.5% at 28,818.
【15:20】Oil prices steady; NYMEX crude up 0.2% at $94.98; Brent crude up 0.4% at $101.49. Gold spot prices up 0.6% at $4,715.
【14:44】【Xi-Trump meeting】Reports suggest Trump’s China visit is proceeding as scheduled; Blackstone and Citigroup CEOs expected to attend; Nvidia, Apple, and others involved.
【14:31】【TSM】TSMC April revenue up 17.5% YoY to NT$410.7 billion; down 1.1% MoM
【14:15】【Layoff wave】Fidelity plans to cut 800-1,000 jobs globally, while expanding technical and entry-level positions
【13:26】【US stock analysis】S&P 500 and Nasdaq hit new highs after breaking 7,300; analysis: US-Iran has “revealed cards,” with limited correction pressure; potential for further upside?
【13:16】【AI + AirPods】Apple’s “camera version” AirPods enters testing phase; built-in camera enables Siri to perform dual functions
【13:14】【Yen trend】USD/JPY at 4.97; Bank of America estimates Japan may intervene at least four times during Golden Week, spending up to ¥11 trillion to influence forex
【12:37】【AI + Investment】Anthropic reportedly plans new funding this summer, valuation near $1 trillion; investors eager to invest, awaiting official announcement
【11:57】【AI + Chips】Semiconductor giants face labor disputes; Samsung’s union rejects one-time compensation of 2.65 million won, threatening an 18-day strike
【10:50】【US market focus】Citibank: Mid-term return on tangible equity expected at 14-15%; plans to buy back $30 billion in shares this quarter
【10:22】【AI + Major banks report】Goldman Sachs: AI industry shifting to “intelligent era”; token consumption projected to increase 24-fold by 2030
【10:10】【US interest rates】Fed official Kashkari: Prolonged closure of the Strait of Hormuz could lead to rate hikes
【08:22】【Market outlook】Dario warns of “great turmoil” in the US; recommends 5-15% gold allocation
【07:32】【Iran crisis】US military: Destroyer attacked near Hormuz; Trump: Continue ceasefire, just a light tap (updating)
【07:11】【Iran crisis】Trump downplays attack on Gulf countries; Saudi and Kuwait temporarily ban US military use of bases; “Freedom Plan” paused for 36 hours
【06:44】【US tariffs】US Trade Court rules Trump’s latest 10% tariffs illegal
【06:01】【ABNB earnings】Airbnb Q1 revenue up 18%; slower growth in bookings due to Middle East conflict
【05:40】【CRWV earnings】CoreWeave doubles revenue; backlog nears $0; losses widen to $740 million
【05:00】【COIN earnings】Crypto asset investment losses drag Coinbase into net loss of $394 million in Q1
$1 or less for May 7 US market overview====
Thursday: US military strikes in the Strait of Hormuz; Brent crude surges, Dow drops 313 points
US and Iran conflict escalates again; reports say US forces hit Iranian Gasham and Abadan ports. Axios reports US strikes in the Hormuz region, but the attacks do not signify a restart of war.
See the US stock market close:
Tassnim News Agency reports that two drones were shot down by air defense at Abadan port.
According to IRIB, a military official said that after US forces attacked an Iranian oil tanker in the Strait of Hormuz, Iran launched missiles at “enemy units.” The official stated, “Enemy forces” withdrew after suffering losses.
Oil prices fluctuate; NYMEX crude drops 0.3% to $94.81, Brent crude rises 2% to $103.32.
The Nasdaq and S&P 500 continued to break new highs early in the session, but then declined due to Middle East tensions. The Dow fell 422 points to a low of 49,487; the S&P dropped 0.6% to 7,321; the Nasdaq fell 0.5% to 25,713.
The Dow closed down 313 points at 49,596; the S&P declined 0.4% to 7,337; the Nasdaq fell 0.1% to 25,806.
Gold fell 0.1%, closing at $4,685.8. The US dollar index rose 0.2% to 98.237.
Additionally, according to WSJ citing US and Saudi officials, Saudi Arabia and Kuwait have lifted restrictions on US military bases and airspace, and Trump will resume “Project Freedom.”
Iranian state media reports that a Chinese-flagged oil tanker was attacked near the Strait of Hormuz, marking the first such incident since the US-Iran conflict erupted. The unnamed vessel, marked “CHINA OWNER & CREW,” caught fire after the attack. It is unclear if any crew members were injured.
Trump: US-Iran peace deal could be reached within a week; oil prices fell 4%
President Trump said a US-Iran peace agreement could be reached within a week, as Tehran reviews the latest US proposal. After submitting the peace plan, Trump ordered a temporary halt to escort missions in the Strait of Hormuz.
Energy Secretary Chris Wirth said there has been no direct dialogue with Iranian officials, and Iran’s oil output has decreased by about 400k barrels per day as storage facilities fill up.
Iran’s Foreign Minister Araghchi said he spoke with Pakistan’s foreign minister on Thursday (7th), emphasizing the need for continued dialogue, diplomacy, and expanded cooperation to maintain stability and prevent escalation, but did not mention a peace agreement with the US.
Bloomberg reports, citing ship tracking data, that CMA CGM’s small cargo ship CMA CGM Saigon was last tracked in the Persian Gulf on Tuesday (5th) and reappeared near Oman on Wednesday (6th), heading to Colombo, Sri Lanka. It is one of the few European ships to pass safely through the strait since the outbreak of US-Iran hostilities.
According to Tasnim News Agency, Iranian President Phezihiyan met with Supreme Leader Mujehtaba Khamenei on Thursday (7th), with the discussion lasting nearly two and a half hours.
Maersk CEO said that due to Middle East conflicts, the company’s monthly costs have increased by $500 million. Freight rates are expected to rise in Q2, which has already been passed on to customers. Several ships remain stranded in the Persian Gulf, but no further ships are expected to pass through Hormuz under US escort in the coming weeks.
Hong Kong stocks and ADR markets continue to update; details on the next page
Market overview:
【23:00】US Energy Secretary: No direct talks with Iran; oil prices fell 4%; Dow fluctuates; S&P and Nasdaq hit new highs (updating)
【21:30】French cargo ship passes through Hormuz; Brent crude drops 4%, falling below $100; Dow surpasses 50k; S&P and Nasdaq hit new highs
【18:30】Optimism for US-Iran deal; Brent crude down 2%, below $100; Dow futures up 4 points; gold rises 1% above $4,700
【14:53】Dow futures up 110 points at 50,144; S&P futures up 8 points at 7,397; Nasdaq futures up 7 points or nearly 0.3% at 28,724.
【14:53】Oil prices stabilize; NYMEX crude up 0.3% at $95.36; Brent crude up 0.3% at $101.61. Gold rises 1%, with NY gold up 1.1% at $4,747; spot gold at $4,740.
【14:07】【Japan stocks】Nikkei surges 6%, breaking 62,000 and 63,000 points; SoftBank jumps 18%
【13:54】【World Cup 2026】Bank of America: 2026 World Cup to contribute about $8B to global GDP; AI to become a control system; Will AI predict the champion?
【13:39】【AI + Gemini】Google developing its own “lobster” AI agent, “Remy,” to assist users with tasks 24/7
【13:33】【US stock analysis】S&P 500 and Nasdaq break new highs after crossing 7,300; analysis: limited correction risk but no reversal; further upside possible?
【13:29】【Private equity】Emergence of “Seven Wonders” in private markets; accounts for over 40% of US unicorn valuations; OpenAI, SpaceX among big funding black holes
【13:13】【GME】GameStop plans to acquire eBay for $56 billion; CEO auctions “private White Sox, Trump trading cards” to raise funds after bans
【13:11】【ARM analysis】Arm’s earnings surge after hours, then fall 6%; analysis: high expectations for Intel and AMD earnings, valuation high but no cooling in chip stocks expected
【13:00】【Yen trend】USD/JPY at 4.97; Japan’s IMF rules suggest three consecutive days of intervention count as one move; contact with US authorities maintained
【11:17】【Private equity】“New bond king” Gundlach warns of private credit bubble; intermediaries push “semi-liquid” products with commissions; risk of illiquidity when cash needed
【10:26】【Korean stocks】KOSPI surpasses 6,900 points, reaching new highs; Samsung Electronics’ market cap exceeds 1 trillion USD; South Korea’s KOSPI jumps over 6%, breaking 7,000 points again
【10:00】【US interest rates】Fed’s Waller hints that prolonged inflation may require rate cuts; no data supports immediate hikes
【09:55】【Samsung】Samsung Electronics exits Chinese appliance market, focusing on smartphones, semiconductors, and advanced industries
【08:28】【Gold trend】Gold prices rise amid hopes for US-Iran deal; spot gold surpasses $4,700, largest one-month gain
【08:20】【Iran crisis】US military: Fighter jets and artillery hit tanker’s rudder; Iran denies
【08:01】【Iran crisis】Trump: Iran cannot have nuclear weapons; Iran’s FM in Beijing: can resolve Hormuz issue quickly (updating)
【08:00】【US interest rates】Fed’s Goolsbee signals cautious stance on inflation; rate hikes unlikely in short term
【07:25】【US market close】Trump: Iran agrees not to pursue nuclear weapons; Dow jumps 612 points to 50k; S&P and Nasdaq hit new highs; AMD surges 19%
【06:58】【AI court battle】Former OpenAI CTO claims Altman caused chaos; Brockman: feared being beaten; OpenAI’s computing costs may reach $50 billion this year
【04:55】【App earnings】AppLovin doubles profit; strong AI ad demand
【04:55】【ARM earnings】Revenue and profit beat expectations; AI CPU supply focus
【04:00】【AI computing power】Anthropic partners with SpaceX to increase compute resources; Claude’s usage limit raised
$1 or less for May 6 US market overview====
Wednesday: US-Iran conflict intensifies; Dow up 356 points, Nasdaq and S&P hit new highs
Iran initiates new passage management in the Strait of Hormuz; ships will receive official rules and permits via email before passing. US claims ceasefire remains valid; oil prices sharply retreat, US stocks rise, with the Nasdaq and S&P reaching new highs; Dow up to 423 points at most.
See the US stock market close:
US and Iran may reach a ceasefire within a week; Brent crude drops 2%, falling below $100; Dow futures up 4 points; gold rises again above $4,700.
【14:53】Dow futures up 110 points at 50,144; S&P futures up 8 points at 7,397; Nasdaq futures up 7 points or nearly 0.3% at 28,724.
【14:53】Oil prices stabilize; NYMEX crude up 0.3% at $95.36; Brent crude up 0.3% at $101.61. Gold rises 1%, with NY gold up 1.1% at $4,747; spot gold at $4,740.
【14:07】【Japan stocks】Nikkei jumps 6%, breaking 62,000 and 63,000 points; SoftBank surges 18%
【13:54】【World Cup 2026】Bank of America: 2026 World Cup to contribute about $41 billion to global GDP; AI to become a control system; Will AI predict the champion?
【13:39】【AI + Gemini】Google developing its own “lobster” AI agent, “Remy,” to assist users with tasks 24/7
【13:33】【US stock analysis】S&P 500 and Nasdaq break new highs after crossing 7,300; analysis: limited correction risk but no reversal; further upside possible?
【13:29】【Private equity】Emergence of “Seven Wonders” in private markets; accounts for over 40% of US unicorn valuations; OpenAI, SpaceX among big funding black holes
【13:13】【GME】GameStop plans to acquire eBay for $56 billion; CEO auctions “private White Sox, Trump trading cards” to raise funds after bans
【13:11】【ARM analysis】Arm’s earnings surge after hours, then fall 6%; analysis: high expectations for Intel and AMD earnings, valuation high but no cooling in chip stocks expected
【13:00】【Yen trend】USD/JPY at 4.97; Japan’s IMF rules suggest three consecutive days of intervention count as one move; contact with US authorities maintained
【11:17】【Private equity】“New bond king” Gundlach warns of private credit bubble; intermediaries push “semi-liquid” products with commissions; risk of illiquidity when cash needed
【10:26】【Korean stocks】KOSPI surpasses 6,900 points, reaching new highs; Samsung Electronics’ market cap exceeds 1 trillion USD; South Korea’s KOSPI jumps over 6%, breaking 7,000 points again
【10:00】【US interest rates】Fed’s Waller hints that prolonged inflation may require rate cuts; no data supports immediate hikes
【09:55】【Samsung】Samsung Electronics exits Chinese appliance market, focusing on smartphones, semiconductors, and advanced industries
【08:28】【Gold trend】Gold prices rise amid hopes for US-Iran deal; spot gold surpasses $4,700, largest one-month gain
【08:20】【Iran crisis】US military: Fighter jets and artillery hit tanker’s rudder; Iran denies
【08:01】【Iran crisis】Trump: Iran cannot have nuclear weapons; Iran’s FM in Beijing: can resolve Hormuz issue quickly (updating)
【08:00】【US interest rates】Fed’s Goolsbee signals cautious stance on inflation; rate hikes unlikely in short term
【07:38】【Iran crisis】US military: Destroyer attacked near Hormuz; Trump: Continue ceasefire, just a light tap (updating)
【06:24】【AI regulation】White House considers strengthening AI model oversight; may impact Google and OpenAI release schedules
【05:14】【PLTR earnings】Palantir Q1 revenue up 85%; US commercial revenue below expectations