Today’s Market Recap: AI Strength and Geopolitical Shifts Drive New Peaks

Donald Trump stated that the United States and Iran have held highly productive dialogues over the past 24 hours, with Iran agreeing not to possess nuclear weapons. He indicated that an agreement could be signed as early as next week before his scheduled foreign visit, though he previously remarked that it is "too early" to consider face-to-face peace talks, noting that "distance and uncertainty" remain in negotiations. Trump added that even if oil prices were to rise to $200 per barrel, it would be worth the outcome.

The U.S. ADP private-sector employment for April grew by 109,000, hitting a 15-month high, despite sluggishness in manufacturing. Specifically, the education and health services sectors added 61,000 jobs, continuing to lead employment growth. In contrast, the manufacturing sector—which the Trump administration hoped would see a resurgence through tariff policies—added only 2,000 positions, showing limited growth.

The U.S. Treasury Department is extending its "stalling strategy" by maintaining debt issuance levels through 2027, though risks associated with reliance on short-term debt are increasing. The Treasury kept its issuance strategy unchanged, freezing the size of medium- and long-term Treasury auctions while continuing to rely on short-term bills for financing. A $125 billion refinancing operation is scheduled for next week, with net financing of approximately $41.6 billion. The Treasury Borrowing Advisory Committee (TBAC) expects long-term debt issuance may need to expand in the new fiscal year to address deficit pressures, and the market is already pricing in expectations of increased supply.

The Yen spiked sharply in the short term, fueling suspicions of another intervention by the Japanese government. On Wednesday, the Yen strengthened significantly, with the USD/JPY pair dropping below the 157 mark. Markets widely believe Japanese authorities intervened again, establishing 157 as a new defensive line. Although Japan's foreign reserves are ample, IMF guidelines limit the number of interventions allowed within a year, leaving authorities in a deep strategic standoff with the market over policy space.

Anthropic and SpaceX signed a 300-megawatt computing power agreement to meet the growing demands of AI. Anthropic will gain access to over 300 megawatts of power resources from SpaceX's "Colossus 1" large-scale data center. Anthropic stated that this partnership will significantly scale its computing resources and allow the company to raise usage limits for its AI products. Additionally, Anthropic expressed its "intent to collaborate with SpaceX on developing multi-gigawatt orbital AI computing power."

Nvidia (NVDA) and Corning signed a long-term agreement under which Corning's optical connectivity capacity will increase tenfold, and Nvidia will receive subscription rights for up to 18 million shares. Corning will expand its U.S. optical connectivity capacity by 10 times and increase fiber production by over 50%, while building three new factories and creating more than 3,000 jobs. as part of the collaboration, Nvidia invested $500 million to obtain warrants for up to 18 million shares, consisting of 3 million prepaid warrants and 15 million traditional warrants.

The chart below lists the ten most actively traded stocks in the market last Friday. Bolstered by massive trading volume and exceptional liquidity, these assets have become key benchmarks for tracking global market dynamics.