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Last week, US stocks still closed broadly lower after experiencing volatility, showing the market remains fragile under trade tensions. Although some investors believe that the worst of the global trade war may have passed as US President Trump temporarily suspended reciprocal tariffs and seeks to reach agreements with various countries within 90 days, the market still faces multiple challenges this week.
Key Points to Watch This Week:
US Stock Earnings Season Kicks Off:
US stock giants will lead with Tesla (expected Wednesday morning Taipei time) and Google's parent company Alphabet (expected Friday morning) releasing earnings reports. During the same period, heavyweight companies like Boeing, IBM, Intel, P & G, Merck, and others will also announce their financial results. These giants' performance and outlook will directly impact market sentiment and related supply chain performance.
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US Trade Negotiations with Japan, South Korea, and India:
- Japan: The Finance Minister is expected to conduct the second round of negotiations with US officials (Treasury Secretary Bessent, Commerce Secretary Roudenick, Trade Representative Grier) on the 24th. Japan may propose expanding purchases of US agricultural products (rice, soybeans) and energy, and relaxing vehicle import inspection regulations, hoping to cancel 24% reciprocal tariffs and obtain exemptions for steel, aluminum, and automotive tariffs.
- South Korea: Deputy Prime Minister Choi Sang-mok and Minister of Trade, Industry and Energy Ahn Duk-geun will meet with US officials from the 24th to 25th in Washington, expected to discuss reducing non-tariff barriers to ensure exemptions for automobiles and semiconductors.
- Pence's India Visit: US Vice President Pence will visit India this week. His discussions with Indian Prime Minister Modi and the progress of US-India trade negotiations will be a key focus. India is eager to reach an agreement to avoid tariff impacts.
Geopolitical Risks: Russian President Putin originally announced a Easter ceasefire for the Ukraine war, with all military actions to stop from 6 PM Moscow time Saturday until midnight Sunday. However, both sides continue to accuse each other of launching attacks, and the conflict persists.
Bitcoin Breaks $87,000
Returning to the cryptocurrency market, after narrowly oscillating between $84,000-$85,000 over the weekend, Bitcoin suddenly broke through last week's resistance level after 8 AM today, reaching a high of $87,280, creating a peak since early April.
As the market is currently in a low liquidity period with no particularly positive news, this may be driven by short-term liquidations and the US Dollar Index DXY falling below 99 (first time since April 2022). Whether Bitcoin can continue to strengthen remains to be seen.
According to Coinglass data, network liquidations in the past 24 hours reached $220 million, with over 120,000 people being cleared.
Among other top ten tokens, Ethereum also broke through $1,600, XRP returned to $2... SOL performed best in the past seven days, rising 7.55%.
