Bitget UEX Daily Report | Nasdaq Posts 10th Consecutive Gain, Approaching Record; Semiconductor Stocks Lead Rally to New Highs; ASML to Release Earnings Today
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Bitget UEX Daily Report | Nasdaq Posts 10th Consecutive Gain, Approaching Record; Semiconductor Stocks Lead Rally to New Highs; ASML to Release Earnings Today
Overall, market sentiment is expected to recover in the short term, but caution is warranted against potential volatility during the implementation of negotiation details.
Navigating Web3 tides with focused insightsAuthor: Bitget
I. Key News Highlights
Federal Reserve Updates
Confirmation Hearing for Fed Chair Nominee Walsh Scheduled for April 21
- Kevin Warsh, former Fed governor and Trump’s nominee for Fed chair, has filed financial disclosure forms indicating assets exceeding $100 million; the top Republican on the Senate Banking Committee confirmed the hearing will take place next week (April 21), focusing on price stability, inflation, and Fed independence.
- Treasury Secretary Bessent previously stated that the Fed’s inflation assessment contains bias, noting that core inflation continues to decline—suggesting that if policymakers wait for clearer data, a more aggressive rate cut may be required. Market impact: Investor expectations regarding the continuity of Fed policy and potential easing paths have become further clarified, supporting a rebound in risk-asset valuations.
- Charles Evans, President of the Chicago Fed, indicated that if an Iran-related conflict leads to persistently high oil prices—and thereby delays the return of inflation toward the Fed’s 2% target—the Fed might not begin cutting rates until 2027.
Global Commodities
Optimistic U.S.-Iran Ceasefire Talks Weigh on Oil Prices
- On April 14, Trump declared the Iran war “over,” with U.S.-Iran negotiations set to begin for two weeks and follow-up talks planned in Pakistan; Vice President Vance described progress as “optimistic.”
- Israel supports a ceasefire—but excludes Lebanon; Saudi Arabia’s oil pipeline has resumed operations; and Iran is considering suspending shipments through the Strait of Hormuz to advance dialogue. Market impact: Tail risks have significantly diminished, reviving risk appetite and directly driving a notable decline in crude oil futures, while also boosting global equity markets and other risk assets.
Macroeconomic Policy
Bessent: Tariff Levels May Be Restored by Early July
- Treasury Secretary Bessent stated that following the Supreme Court’s ruling declaring early tariffs unconstitutional, the administration will rebuild the “tariff wall” using authorities such as Section 301 investigations—with restoration of prior tariff levels possible as early as early July.
- He emphasized robust U.S. economic fundamentals, projecting GDP growth this year comfortably exceeding 3%, possibly even 3.5%; the decline in core inflation is cited as a positive signal. Market impact: Short-term trade friction concerns have eased somewhat, yet long-term signals of tariff reinstatement warrant continued attention regarding corporate cost structures and supply-chain implications.
II. Market Recap
Commodities & FX Performance
- Spot Gold: Slightly volatile before closing near $4,830/oz, maintaining an overall upward-trending consolidation pattern at elevated levels.
- Spot Silver: Traded in line with gold, holding above $79/oz, supported by industrial demand and demonstrating relative resilience.
- WTI Crude: Fell to ~$87/barrel, driven primarily by optimistic U.S.-Iran ceasefire talks directly compressing energy risk premiums.
- Brent Crude: Similarly declined to ~$95/barrel.
- U.S. Dollar Index: Dropped ~0.03%, closing near 98.131, as rising risk appetite weakened the dollar’s safe-haven appeal.
Cryptocurrency Performance
- BTC: +0.18% over 24H, trading near $74,500; 4-hour chart shows consolidative uptrend.
- ETH: -1.5% over 24H, trading near $2,335.
- Total Crypto Market Cap: +0.2% over 24H, reaching ~$2.6 trillion.
- Liquidations: Total liquidations over 24H amounted to ~$433 million, including ~$200 million in long positions and ~$230 million in short positions—indicating relatively balanced leveraged-position unwinding.
- Bitget BTC/USDT Liquidation Map: Current price (~$74,534) sits near the long/short liquidation boundary. A significantly larger concentration of short liquidations lies above current price, implying that any rally could trigger cascading short squeezes. Conversely, dense long liquidations cluster between $73,000–$74,000—meaning a breakdown below this zone could spark long-position capitulation. Consequently, price is likely to remain highly volatile within this range in the near term.
- Spot ETF Net Flows: BTC spot ETFs recorded ~$152 million net inflow yesterday; ETH spot ETFs saw ~$3.3 million net inflow.
- BTC Spot Flows: $3.325 billion inflow vs. $3.427 billion outflow yesterday, resulting in net outflow of $29 million.
U.S. Equity Index Performance
- Dow Jones Industrial Average: +0.66% to 48,535.99—continuing its rebound, albeit with moderate gains.
- S&P 500: +1.18% to 6,967.38—just shy of its all-time closing high.
- Nasdaq Composite: +1.96% to 23,639.08—extending its winning streak to ten consecutive sessions, propelled notably by technology and semiconductor stocks.
Tech Giants’ Updates
- NVIDIA (NVDA): +3.78% ($196.51)—continued catalysis from quantum AI model launch.
- Alphabet-A (GOOGL): +3.61% ($332.91)—supported by expectations of AI application deployment.
- Apple (AAPL): -0.14% ($258.83)—minor pullback amid broadly positive tech sentiment.
- Microsoft (MSFT): +2.27% ($393.11)—steady cloud and AI business performance.
- Amazon (AMZN): +3.81% ($249.02)—synergistic strength across e-commerce and cloud services.
- TSMC (TSM): +2.79%—revived semiconductor supply-chain demand.
- Broadcom (AVGO): +0.27%—boosted by collaboration with Meta on custom chips.
- Meta (META): +4.41% ($662.49)—AI accelerator partnership agreement finalized.
- Tesla (TSLA): +3.34% ($364.20)—lifted by broad tech-sector sentiment. Core driver: AI-themed trading has regained momentum, and de-escalating geopolitical risk has further amplified tech stock valuation expansion.
Sector Rotation Observations
Semiconductor & Optical Communications Sector rose >3%
- Key stocks: Coherent (COHR) hit new highs at $313.42; KLA Corporation (KLAC) reached record highs at $1,795; Lam Research (LRCX) hit new highs at $272.
- Catalyst: Strong AI data-center demand combined with NVIDIA’s quantum AI model announcement drove broad-based strength across the entire value chain.
Quantum Computing Theme surged >15%
- Key stocks: SEALSQ +21.03%; IonQ +20.16%; D-Wave Quantum +15.84%.
- Catalyst: NVIDIA’s release of the world’s first open-source quantum AI model ignited immediate market enthusiasm.
III. In-Depth Stock Analysis
1. NVIDIA – Market Cap Up $761.5 Billion in 10 Days
Event Summary: After Tuesday’s close, NVIDIA posted ten consecutive daily gains—the longest streak since 2023—delivering cumulative gains of over 18% and adding ~$761.5 billion (≈RMB 5.19 trillion) to its market cap. Concurrently, the company officially launched the world’s first open-source quantum AI model, reinforcing its technological leadership at the intersection of AI and quantum computing. The model’s open-source nature is expected to accelerate ecosystem development and further entrench NVIDIA’s dominance in compute infrastructure. Market Interpretation: Institutions widely view compute giants’ long-term monopoly advantages at the AI–quantum nexus as structurally robust. This milestone not only validates the depth of NVIDIA’s technological moat but also promises explosive growth in AI training and inference demand over the coming years—valuation expansion logic gaining further traction amid geopolitical easing and renewed risk appetite. Investment Insight: As the core infrastructure play in AI, NVIDIA remains the strongest barometer of the tech bull market. Investors should consider strategic allocation opportunities during pullbacks—especially given accelerating real-world deployment of quantum AI applications, which still presents significant long-term compounded growth potential.
2. Meta Platforms – Partnering with Broadcom on 1-GW Custom Chip Project
Event Summary: Meta Platforms and Broadcom announced a comprehensive agreement extending their collaboration on Meta’s in-house AI accelerator design, with plans to jointly develop a 1-gigawatt (GW) custom chip project to meet the massive compute requirements of next-generation AI training and inference. This initiative reflects Meta’s strategic shift toward self-sufficiency in AI infrastructure and mirrors a broader industry trend among tech giants to reduce external supplier dependency via intensified internal R&D investment. Market Interpretation: Wall Street analysts view this as signaling a new phase in the AI capital expenditure cycle. Tech giants’ accelerated in-house chip development not only optimizes cost structures but also meaningfully improves upstream semiconductor supply-chain order visibility. Multiple investment banks have raised Broadcom’s target price, underscoring how Meta’s substantial AI investments will serve as a critical pillar of semiconductor demand. Investment Insight: The AI capex cycle remains firmly in an upward trajectory. Meta’s internal investment push will drive sustained growth across multiple segments of the supply chain. Investors should closely monitor execution progress of similar collaborative projects to capture structural opportunities across the AI hardware ecosystem.
3. Broadcom (AVGO) – Expanding AI Custom Chip Collaboration with Meta
Event Summary: Under the comprehensive agreement with Meta Platforms, Broadcom will deepen its AI accelerator design collaboration and jointly advance the 1-GW custom chip initiative. Designed to deliver efficient compute power for Meta’s next-gen AI training and inference workloads, this represents one of Broadcom’s largest commercial deployments to date in the AI-customized chip domain. Having already achieved rapid revenue growth via deep integration with hyperscalers, this expanded engagement further highlights Broadcom’s pivotal role in the AI semiconductor supply chain. Market Interpretation: Analysts note that Broadcom is transitioning from a traditional semiconductor supplier into a core platform provider for AI infrastructure, leveraging its technical edge in custom ASICs. Multiple investment banks believe this partnership enhances order certainty for Broadcom and instills broader confidence across the AI chip ecosystem—particularly advantageous amid macro tailwinds of reduced geopolitical risk and recovering global capex. Investment Insight: As a leader in AI-customized chips, Broadcom’s deepening ties with tech giants are poised to drive consistently above-consensus earnings growth. Investors should treat Broadcom as a core semiconductor holding, prioritizing valuation re-rating opportunities tied to the pace of AI capex execution.
4. ASML – Earnings Report Today
Event Summary: As the world’s leading semiconductor equipment manufacturer, ASML will release its quarterly results today—drawing intense market focus on EUV lithography tool order volumes and updated guidance on AI chip demand. ASML has already benefited from strong AI-driven demand for advanced process nodes; today’s report serves as a critical gauge of semiconductor cycle recovery strength—especially relevant against the backdrop of easing geopolitical tensions improving supply-chain predictability. Market Interpretation: Analysts broadly anticipate robust orders, reinforcing the sustainability of AI capex. Multiple banks maintain Buy ratings and raise price targets, citing ASML’s formidable technological barriers in advanced-node equipment—ensuring outsized benefits from global chipmakers’ capacity expansions. Reduced geopolitical risk provides additional supply-chain stability support. Investment Insight: Semiconductor equipment demand directly reflects AI capex intensity. ASML remains the premier upstream play in global chip manufacturing. Investors should use today’s earnings as a key inflection-point reference for sector timing—and strategically position for long-term growth in semiconductor equipment.
IV. Cryptocurrency Project Updates
1. Bloomberg ETF analyst James Seyffart disclosed on X that 21Shares has updated its Hyperliquid ETF application filing, proposing ticker symbol THYP.
2. Bitcoin briefly breached the critical $76,000 resistance level last night before retreating to ~$74,000—failing to achieve a decisive breakout and continuing its sideways consolidation spanning over two months. Vetle Lunde, Head of Research at K33 Research, noted that Bitcoin perpetual contract funding rates have remained negative for 11 consecutive periods. Despite recent price rebounds, traders continue to hold net bearish positioning—indicating that even amid price rallies, underlying sentiment remains skewed to the downside. Meanwhile, open interest continues rising, suggesting new short positions are being added rather than existing ones closed.
3. Goldman Sachs has filed an application for a Bitcoin Premium Income ETF. The fund aims to generate current income while preserving upside participation in Bitcoin’s price appreciation.
4. Bitwise CIO Matt Hougan and Head of Research Ryan Rasmussen stated in their latest report that since the U.S.-Israeli airstrikes on Iran on February 28, Bitcoin has risen ~12%, while the S&P 500 fell ~1% and gold declined ~10%. Bitwise attributes Bitcoin’s strength to fragmentation of the global financial system and “weaponization” of payment infrastructure—not contradiction with geopolitical risk. The firm positions Bitcoin as a dual-purpose asset—both a “store of value” and an “international settlement currency”—and notes that its “settlement currency” optionality has gained value, especially following reports that Iran is open to accepting Bitcoin for certain oil-transport-related payments. Bitwise suggests $1 million should be viewed as a plausible benchmark—not a ceiling—in Bitcoin’s long-term valuation framework.
5. Rakuten Wallet, the crypto platform under Japanese conglomerate Rakuten, announced listing XRP for spot trading and payments. Users can now redeem Rakuten Points directly for XRP and spend it via Rakuten Cash/Pay across Japan’s everyday retail ecosystem. This integration brings XRP into Rakuten’s network covering ~44 million users, over ¥3 trillion in accumulated points (~$23 billion), and more than 500,000 merchants.
V. Today’s Market Calendar
Data Release Schedule
Key Event Preview
Wednesday (April 15)
- ASML to release Q1 earnings pre-market
- A global semiconductor supply-chain price hike wave is accelerating from cost inputs to the full value chain—monitor gross margin performance across related companies
Thursday (April 16)
- TSMC to release Q1 earnings pre-market; Netflix (NFLX) to release Q1 earnings post-market; ★★★★★
- U.S. initial jobless claims for the week ending April 11
- Fed officials scheduled for multiple speeches; Fed to release Beige Book—any hawkish signals could dampen risk appetite. ★★★★★
Friday (April 17)
- Earnings season continues, potentially including regional banks or smaller tech firms; markets may enter weekend watch mode.
*Overall weekly trading recommendation: Earnings outcomes and hawkish Fed commentary will dominate market sentiment. Continue monitoring Iran developments and U.S.-Iran negotiation follow-ups. Focus on structural opportunities in banking, technology, energy, and semiconductor sectors.
Institutional Views:
Leading investment bank analysts widely agree that the swift de-escalation of geopolitical tensions has emerged as the strongest current market catalyst. Significantly reduced tail risks have directly fueled a broad-based revival of risk appetite. Morgan Stanley strategists observe that each positive update on U.S.-Iran talks reinforces traders’ conviction that “war won’t fully disrupt the economy”—and combined with potential Fed easing, the S&P 500 is nearing all-time highs, while the Nasdaq’s ten-day rally reflects direct valuation repair in tech stocks. Goldman Sachs emphasizes that falling oil prices and a weakening dollar are reinforcing each other—supporting emerging markets and crypto assets. Simultaneously, AI-themed rotation across semiconductors, optical communications, and quantum computing remains ongoing; institutions recommend overweighting growth-oriented tech and cyclical assets. Overall, near-term sentiment is dominated by recovery—but vigilance is warranted for potential volatility arising from negotiation details and implementation setbacks.
Disclaimer: The above content was compiled via AI search and verified manually for publication only. It does not constitute investment advice.
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