Accepting the ceasefire proposal, US-China negotiations will begin on the 10th!

A crucial Iran-U.S. negotiation is set to begin on the 10th.

On April 7 (Tuesday), local time, all three major U.S. stock index futures ended the session with mixed gains and losses, with both the S&P 500 Index and the Nasdaq Index closing with a five-day winning streak.

Driven by the latest updates on the U.S.-Iran situation between the U.S. and Israel, international crude oil prices began to “plunge from a high point.” As of the time of writing, the WTI crude oil front-month contract was down more than 16% intraday, breaking below $95 per barrel. International gold and international silver prices, meanwhile, began to rise sharply.

The Three Major U.S. Stock Indexes End With Mixed Gains and Losses

On April 7, local time, the three major U.S. stock indexes closed mixed, with the Dow Jones Industrial Average down 0.18% to 46,584.46 points, the S&P 500 Index up 0.08% to 6,616.85 points, and the Nasdaq Index up 0.1% to 22,017.85 points. Notably, both the S&P 500 Index and the Nasdaq Index closed with a five-day winning streak.

U.S. large-cap tech stocks saw mixed performance. Google rose nearly 2%. Gains in Amazon, Meta, and NVIDIA were all under 1%. Apple fell more than 2%. Tesla fell more than 1%. Microsoft fell by less than 1%.

U.S. energy stocks mostly edged higher in a relatively mild fashion. Chevron and Schlumberger rose more than 1%. Exxon Mobil and ConocoPhillips rose by less than 1%. Occidental Petroleum fell by less than 1%.

U.S. airline stocks fell across the board. United Airlines fell nearly 2%, leading the airline sector lower. In addition, Delta Air Lines fell more than 1%, while American Airlines and Southwest Airlines both fell by less than 1%.

Most chip stocks in the U.S. market rose. The Philadelphia Semiconductor Index rose 1.11%. Among the rising chip stocks, Broadcom rose more than 6%, Intel rose more than 4%, Entegris rose more than 2%, and Lam Research and Teradyne rose more than 1%. Among the chip stocks with the biggest declines, ARM fell more than 3%, Qualcomm fell more than 1%, and NXP Semiconductors fell nearly 1%.

Chinese Concept Stocks Dip Slightly

Chinese concept stocks overall edged lower, with the Nasdaq China Golden Dragon Index down 0.94%. Among the Chinese concept stocks leading the declines, Lianzhang Portal and Lexin fell more than 6%, Crain Technology and Autec Solar (000591) fell more than 5%, Bawang Tea Ji fell more than 4%, Luxad, Qifu Technology fell more than 3%, and a number of others—迅雷, Tiger Brokers, Baozun e-commerce, Boss Zhipin, Hesai Technology, Alibaba, WeRide, and Xiaoma Zhixing—each fell more than 2%.

Among Chinese concept stocks that rose, Deckers rose more than 3%, Hansoh? (Tianyan Pharmaceutical) and ZaiDing? (ZaiDing Medicine) rose more than 2%, and Ke Holdings rose nearly 1%.

WTI Crude Oil “Plunges From a High Point” as Gold and Silver Prices Surge

Driven by the latest updates on the U.S.-Iran situation, international crude oil prices began to “plunge from a high point.” The WTI crude oil front-month futures contract was down more than 16% intraday, breaking below $95 per barrel.

In addition, international gold prices surged sharply. London spot gold jumped more than 2% intraday, rising above $4,800 per ounce again. International silver prices also surged: London spot silver rose more than 5% intraday and broke through $76 per ounce.

According to a report from the CCTV News Client, local time on April 7, U.S. President Trump posted on a social platform saying that after phone calls with Pakistan’s Prime Minister Shehbaz Sharif and the Chairman of the Joint Chiefs of the Army Staff Asim Munir, at Pakistan’s request, the U.S. decided to temporarily pause planned military strike operations against Iran.

Trump said that on the premise that Iran agrees to fully, immediately, and safely open the Strait of Hormuz, the U.S. will pause bombing and attacks on Iran for two weeks, and that this arrangement will constitute “a two-way ceasefire.” He added that the U.S. has already completed and exceeded the planned military objectives, and that it has made important progress in driving a long-term peace agreement with Iran and peace in the Middle East.

Trump said, “We received Iran’s ten-point proposal and believe this plan can serve as the basis for negotiations. The U.S. and Iran have reached consensus on nearly all the key points over which we have been arguing in the past, but the two weeks will allow the agreement to be finalized and completed.”

He also said that the current situation is now approaching a resolution phase.

Subsequently, in the early hours of April 8 local time, Iran’s Supreme National Security Council issued a statement saying that, based on the recommendations of the Supreme Leader and approval by the Supreme National Security Council, it accepted Pakistan’s ceasefire proposal.

According to a statement from the Secretariat of Iran’s Supreme National Security Council, negotiations with the United States will begin on April 10 in Islamabad, the capital of Pakistan, and will last for two weeks.

(Editor: Zhang Yan ）

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