On Monday, the 60-day deadline for the U.S.-Iran peace agreement officially expired, and Iran ruled out the possibility of an extension; U.S. President Trump stated that the United States is not currently seeking to extend the memorandum of understanding with Iran, leading to heightened geopolitical uncertainty in the Middle East.Investors are awaiting the release of the Federal Reserve’s meeting minutes later this week to gain further insight into the Fed’s latest monetary policy decisions and the future trajectory of interest rates.
Due to recent weak U.S. economic data, market expectations for further Fed rate hikes continued to cool. The U.S. Dollar Index fell to a 10-week low during the session but later recovered its losses, ultimately closing up 0.01% at 99.59;The benchmark 10-year U.S. Treasury yield closed at 4.73%, while the 2-year U.S. Treasury yield, which is sensitive to the Fed’s policy rate, closed at 4.188%.
Spot gold extended its gains, ultimately closing up 0.92% at $4,416.75 per ounce;Spot silver closed up 1.67% at $65.78 per ounce.
International oil prices surged as market concerns over Middle East crude supply intensified.WTI crude oil closed up 3.14% at $84.09 per barrel; Brent crude oil closed up 2.92% at $91.74 per barrel.
The three major U.S. stock indices closed lower, while the storage sector gained strength again. The Dow Jones Industrial Average closed down 0.5%,the S&P 500 fell 0.5%, and the Nasdaq fell 0.32%. SK Hynix (SKHY.O) rose 3%, Micron Technology (MU.O) rose 4%, SanDisk (SNDK.O) rose 8.8%, and Nike (NKE.N) fell 4%.The Nasdaq China Golden Dragon Index closed up 0.37%; Xpeng Motors (XPEV.N) rose 4%, while Miniso (MNSO.N) fell 8%.