SMM5 March 10: yesterday, the outer plate metal was all green, Lun copper fell 0.16%, Lun aluminum fell 0.12%, Lun lead fell 0.45%, Lunzn zinc fell 1.02%, Lunni fell 1.88%, and Lunxi fell 0.23%. Lunxi copper prices fell on Monday after setting a record high, as bullish investors who entered the market in the recent rally were nervous about the possibility of a pullback. On the domestic front, international copper fell 2.43%, Shanghai copper fell 1.97%, Shanghai Aluminum fell 1.84%, Shanghai lead fell 0.92%, Shanghai zinc fell 2.28%, Shanghai nickel fell 2.58%, and Shanghai tin fell 1.63%.
The dollar hit a nearly three-month low as investors bet that higher inflation would erode its value, and Friday's weaker-than-expected jobs report helped market participants believe that even if inflation rises, the Fed will keep interest rates low and continue to buy assets. The number of jobs created in the United States last month was just over 1/4 of what economists had expected, and the unemployment rate rose unexpectedly.
U. S. stocks closed lower on Monday, led by technology stocks. Investors continue to sell high-growth stocks such as technology stocks to cyclical stocks that are expected to benefit from the economic recovery. The market is keeping a close eye on the CPI and PPI data to be released this week, hoping to determine the latest inflation situation. The Dow fell 34.94 points, or 0.10%, to 34742.82; the Nasdaq fell 350.38 points, or 2.55%, to 13401.86; and the S & P 500 fell 44.17 points, or 1.04%, to 4188.43.
In terms of crude oil, international crude oil futures closed higher on Monday after Colonial Pipeline said it could basically resume fuel pipeline operations within a week after it was forced to close the pipeline because of a cyber attack. Potential demand growth in the US has boosted oil prices, outweighing fears that the Indian epidemic will cut demand in Asia.
In precious metals, COMEX gold futures climbed on Monday, rising for the fourth day in a row as the dollar weakened to a nearly two-and-a-half-month low and stocks weakened. The dollar fell to a two-and-a-half-month low on Monday as investors bet that higher inflation would erode the value of the dollar as the Fed maintained loose monetary policy.
On the data side, the euro zone May Sentix investor confidence index, a previous value of 13.1, expected 14, released 21.
The euro zone's Sentix investor confidence index recorded 21 in May, the highest level since March 2018.
Forexlive comments on euro zone May Sentix investor confidence index: data show a steady recovery in the economy, and the surge in investor confidence highlights optimism about the euro zone economy and expectations of a global economic recovery in the second half of the year. The figures released were the highest since March 2018, and Sentix stressed that there were clear signs that the global economy was starting to overheat.
