Transcription
Good morning, Neha. First of all, it is important to know that there has been some new trouble between the US and Iran once again. Tell me, what is the update? Absolutely, Swati, good morning. This has been happening since the war began 3 months ago, with new changes and new announcements appearing constantly. Something similar has happened. Nothing new, but some big statements have come out from Mr. Trump and from Iran. The war has been ongoing for over 3 months now. Iranian Parliament Speaker Mohammad Ghalib, he is known for his strong statements and makes full use of social media to express his views. The Speaker of the Iranian Parliament has said that if Israel continues its attacks on Lebanon, we will not only stop negotiations but will also jump directly into war against the enemy. After such a threat, we saw another statement come out from Mr. Trump. Trump said that the mutual attacks between Netanyahu and Hezbollah will not happen anymore. He said that I have spoken with the Hezbollah Chief and also with Israel's Netanyahu, and both of them have given assurances. Both sides have assured that they will not attack each other. Before this, you might remember that over the weekend, a statement came out from Israeli Prime Minister Benjamin Netanyahu, and he told his army to go deep inside Lebanon and continue their attacks there. So, Mr. Trump has assured that there will be no fighting between these two sides. But he said that they will continue to create pressure on Iran through sanctions. So, he is talking about both sides. On one hand, he is focusing a bit on appeasement. On the other hand, he is also working on threatening and maintaining an upper hand. Okay, and a few hours before this statement, another statement of his came out on Truth Social. There he said that peace talks between America and Iran are progressing rapidly. In fact, this was the statement after which we saw that crude oil, which was showing some strength for the third day yesterday and had gone up by almost 8% to $98, corrected by $2 after Trump's statement and closed between $94-95. Okay, let's talk about the American equity markets. For now, Swati, we can say that this is the overall summary of the current exchanges between America and Iran. Absolutely. So, you have given an update here regarding the American markets. Are there any other signals coming from the global markets? Absolutely. Now, if we focus on the American markets, the kind of progress that is being seen in the peace talks between America and Iran, the strength in tech stocks, all these things have worked to push the record rally of the American markets. All three major indices, Dow, Nasdaq, and S&P, closed at record highs. The Dow crossed 5100 for the first time. It registered life highs for the fourth consecutive day. Intraday, we saw an all-time high of 5161. The S&P has its eighth consecutive gain and its fifth consecutive record closing. The S&P rose 20 points but managed to close above 7600 for the first time, and intraday, we saw a new all-time high of 7617. Nasdaq was not far behind. We also saw significant strength in it for the first time. A high of almost 27,190 was seen, and the closing also saw a record closing, up 114 points. Technology stocks completely dominated. Nvidia entered the PC market with a new product, and because of that, there was a 6.5% strength. Microsoft and Oracle rose by up to 10%, and also in energy stocks, due to the slight resurgence in crude oil in the last two-three days, energy stocks like ExxonMobil and Shell also showed strength. The dollar index showed a slight increase here. The 10-year US bond yield, however, closed in the red for the fourth day. So that's a relief. Crude oil, as we said, saw a lot of fluctuations. It went up to $98 but finally closed about 2.5% higher, around $95. Keep an eye on metals. They showed tremendous strength. Aluminum and copper closed at a two-week high. Aluminum and zinc have a more interesting move here. Aluminum closed at a four-year high. Due to the tension in the Middle East, there is supply disruption. And if you talk about zinc, Peru and Kazakhstan are some major smelters where there are issues with some operations. And for this reason, zinc prices also managed to close at a three to four-year high. For that matter, even nickel closed at a one-month high. However, when it comes to gold and silver, a dull trade was seen. Gold closed down about 75-80, and in silver too, we saw a very range-bound trade between 75 and 76.