Major progress in US-Iran peace talks, US stocks and gold surge, crude oil plunges, Bitcoin continues sideways trading

November 10 - Last night and this morning, major progress was made in US-Iran peace talks. According to media reports, the United States agreed to allow Iran to maintain uranium enrichment levels at a maximum of 3.67%, and Iran accepted. The two sides are also arranging discussions on the return of IAEA inspectors to Iran and are expected to reach a preliminary agreement on Iran's uranium enrichment level. Subsequently, Brent crude's intraday decline widened to nearly 8%. After meeting with Qatar's Prime Minister on Monday, Trump stated that there is currently no need for military action. If the situation in the Middle East changes, the US is ready to act at any time, but for now it appears "extremely unlikely" to occur.

Affected by this news, the S&P 500 posted its largest daily gain in seven months, and both it and the Dow closed up more than 2%; the chip index closed up nearly 7%, with a cumulative two-day gain of 11%.

On individual stocks, according to data from the BIT stock platform, AMD rose more than 10%; SpaceX rose nearly 6%; affected by the Jensen Huang incident, Nvidia bucked the trend and plunged 4.27%.

AI stocks continued to recover. Among optical communication concept stocks, Coherent rose nearly 17%, Lumentum rose more than 10%, and MRVL rose 9.49%; storage stocks SNDK rose 6.16%, while STX and WDC both rose nearly 10%; neocloud concept stocks NBIS rose 9.24% and CRWV rose 5.56%.

Crude oil was hit by expectations of easing geopolitical tensions. Brent crude fell nearly 8% at one point, and US crude once fell more than 6%. Meanwhile, as the dollar index retreated, copper and precious metals gold and silver all rebounded.

It is worth noting that, according to HTX market data, Bitcoin, which had been relatively resilient earlier, performed relatively weakly in this rebound and has still not recovered yesterday morning's decline, temporarily trading at $75,337.00.