On Wednesday, Federal Reserve Chair Wash said that inflation expectations and inflation risks had eased somewhat in recent weeks.The U.S. Dollar Index rose but then pared its gains, ultimately closing up 0.25% at 101.39; the benchmark 10-year U.S. Treasury yield closed at 4.458%, while the 2-year U.S. Treasury yield, which is sensitive to the Fed’s policy rate, closed at 4.183%.
As U.S. ADP employment data came in below expectations and Wash’s remarks that inflation is easing pushed U.S. Treasury yields lower, spot gold closed up 0.59% at $4,031.29 per ounce;Spot silver ultimately closed up 0.92% at $59.11 per ounce.
Trump said talks in Qatar were progressing smoothly, and optimism surrounding U.S.-Iran negotiations eased market concerns about crude oil supply.WTI crude ultimately closed down 2.68% at $68.03 per barrel; Brent crude closed down 3.05% at $71.16 per barrel.
U.S. stocks closed with the Dow Jones Industrial Average down 0.02%, the S&P 500 down 0.2%, and the Nasdaq down 0.66%.NVIDIA (NVDA.O) fell 1%, Micron Technology (MU.O) fell 10.5%, SanDisk (SNDK.O) fell 10.6%, AMD (AMD.O) fell 6.8%, and Meta (META.O) rose 8.8%.The Nasdaq Golden Dragon China Index surged 2.9%, and Alibaba (BABA.N) rose 2%.

On Tuesday, as the market increasingly priced in the possibility of a Fed rate hike, the U.S. Dollar Index traded sideways above the 101 level and ultimately closed up 0.03% at 101.16;The benchmark 10-year U.S. Treasury yield closed at 4.47%, while the 2-year U.S. Treasury yield, which is sensitive to the Fed’s policy rate, closed at 4.183%.
Amid market concerns over the U.S.-Iran memorandum of understanding, spot gold ultimately closed down 0.22% at $4,007.82 per ounce, marking its first quarterly decline since 2024 and its largest quarterly drop since the second quarter of 2013;Spot silver ultimately closed up 0.48% at $58.58 per ounce.
As hostilities between the U.S. and Iran subsided and a fragile ceasefire took hold, international oil prices remained near their lowest levels since the conflict began.WTI crude oil ultimately closed down 0.56% at $70.26 per barrel; Brent crude oil recorded its largest quarterly decline since 2020, closing down 0.5% at $73.38 per barrel.
In U.S. stock markets, the Dow Jones Industrial Average closed up 0.26%, the S&P 500 rose 0.78%, and the Nasdaq gained 1.52%.Apple (AAPL.O) and Nvidia (NVDA.O) rose by about 2%, Micron Technology (MU.O) gained nearly 1%, SpaceX (SPCX.O) rose 4%, and SanDisk (SNDK.O) surged more than 10%.The Nasdaq China Golden Dragon Index closed up 0.63%, with Xpeng Motors (XPEV.N) rising 3.4%.