Nasdaq Surges 2.3% as Trump Eases Tariff Stance

The U.S. stock market closed higher, with the Nasdaq Composite Index rising by 2.3%. This surge was largely attributed to a softening of the Trump administration's stance on tariffs, which eased investor concerns and boosted market sentiment. The shift in tariff policy is seen as a positive move that could mitigate the economic impact of trade tensions, thereby fostering a more stable investment environment. This development is significant as it indicates a potential de-escalation in trade conflicts, which have been a major source of uncertainty for global markets.

The U.S. Federal Reserve reiterated its stance on inflation, describing it as temporary. This reassurance from the central bank aimed to calm market fears about rising prices and their potential long-term effects on the economy. The Fed's commitment to monitoring inflation closely and taking appropriate measures as needed has been well-received by investors, who view it as a sign of the central bank's proactive approach to economic management. This stance is crucial as it helps maintain investor confidence and stability in the financial markets.

The U.S. government announced a significant move in its defense strategy, revealing plans for Boeing to produce the sixth-generation fighter jet. This decision underscores the administration's focus on strengthening national security and technological advancements in the defense sector. The contract with Boeing is expected to create jobs and stimulate economic activity, particularly in regions with a strong aerospace industry presence. This development highlights the government's commitment to enhancing national defense capabilities and supporting key industries.

The U.S. immigration policy underwent a notable change as the Trump administration announced plans to revoke the legal status of over 500,000 immigrants currently residing in the country. This move is part of a broader effort to tighten immigration controls and enforce stricter regulations on entry and residency. The policy shift has sparked debate and is likely to have far-reaching implications for both the immigrant community and the broader economy. This change in immigration policy reflects the administration's stance on immigration and its potential impact on the labor market and economic growth.

In the realm of cryptocurrencies, Bitcoin and Ethereum experienced a mixed performance. Bitcoin's price in Chinese yuan stood at 621,225.97, reflecting a 1.86% increase from the previous day. Despite this rise, technical indicators suggested a weakening of bullish momentum, indicating a potential market correction in the near future. Ethereum, on the other hand, showed signs of stability, with its price remaining relatively unchanged. The overall sentiment in the cryptocurrency market appears to be cautious, with investors closely monitoring price movements and market trends. This mixed performance in the cryptocurrency market reflects the volatility and uncertainty that characterize this asset class.

The Shanghai Stock Exchange unveiled a new three-year action plan aimed at enhancing the quality of listed companies. This initiative is part of a broader effort to improve corporate governance and transparency, thereby fostering a more robust and resilient capital market. The plan includes measures to strengthen regulatory oversight, promote sustainable development, and encourage innovation among listed companies. This move is expected to have a positive impact on investor confidence and market stability. This development underscores the exchange's commitment to enhancing the quality and integrity of its listed companies, which is crucial for maintaining a healthy and vibrant capital market.