The Dow Jones closed 317 points higher (+0.66%) at 48,535.
The S&P 500 is less than 1% from its all-time high of 7,002, while the Nasdaq 100 posted a 10-session winning streak, the longest one since 2021.
Most tech giants outperformed the market, with Meta (META) gaining 4.41%, Alphabet (GOOGL) up 3.61%, Tesla (TSLA) up 3.34%, and Microsoft (MSFT) up 2.27%.
Amazon (AMZN) climbed 3.81%. Bloomberg reported that the company is concluding a deal to acquire satellite-communications provider Globalstar (GSAT). Globalstar closed 9.63% higher.
Semiconductor stocks remained buoyed, with Nvidia (NVDA) advancing 3.80%, Micron (MU) up 9.17%, Advanced Micro Devices (AMD) up 3.34%, and Taiwan Semiconductor Manufacturing (TSM) up 2.79%.
However, Intel (INTC) retreated 2.10%, halting a 9-session rally in which the stock gained more than 58%.
American Airlines (AAL) jumped 8.01% and United Airlines (UAL) added 2.10% on reports that both airlines are discussing a potential merger.
And JetBlue Airways (JBLU) surged 16.91%.
After reporting quarterly results, BlackRock (BLK) rose 3.02%, while Wells Fargo (WFC) fell 5.70%, and CarMax (KMX) tumbled 15.12%.
The U.S. 10-year Treasury yield declined further, dropping 4.5 basis points to 4.248%.
European stocks rebounded, with the DAX 40 climbing 1.27%, the CAC 40 up 1.12%, and the FTSE 100 up 0.25%.
U.S. WTI crude futures slid 7.80 dollars (-7.87%) to 91.28 dollars a barrel.
Gold bounced 100 dollars (+2.11%) to 4,841 dollars an ounce, and silver jumped over 5% to 79.56 dollars an ounce.The U.S. dollar weakened for a sixth straight session, with the dollar index testing the support at the level of 98.
U.S. producer price inflation accelerated to 4.0% year on year in March from 3.4% in February.
EUR/USD challenged the level of 1.1800 on the upside.
USD/JPY pulled back 67 pips to 158.78, crossing back below its 20-day moving average and ending a three-session rally.
GBP/USD advanced 60 pips to 1.3564, the highest level since late February.
AUD/USD surpassed the level of 0.7100.
USD/CHF slipped 26 pips to 0.7809, and USD/CAD was down 25 pips to 1.3767.
Bitcoin marked an intraday high of 76,127 dollars, which was last seen in early February.
Pivot:
95.50
Our preference:
Short positions below 95.50 with targets at 89.20 & 86.60 in extension.
Alternative scenario:
Above 95.50 look for further upside with 97.70 & 100.40 as targets.
Comment:
The RSI is bearish and calls for further decline.
Pivot:
4810
Our preference:
Long positions above 4810 with targets at 4860 & 4890 in extension.
Alternative scenario:
Below 4810 look for further downside with 4785 & 4755 as targets.
Comment:
The next resistances are at 4860 and then at 4890.
Pivot:
1.1775
Our preference:
Long positions above 1.1775 with targets at 1.1810 & 1.1830 in extension.
Alternative scenario:
Below 1.1775 look for further downside with 1.1755 & 1.1735 as targets.
Comment:
The RSI is above its neutrality area at 50%.
Pivot:
25830
Our preference:
Long positions above 25830 with targets at 26190 & 26400 in extension.
Alternative scenario:
Below 25830 look for further downside with 25700 & 25570 as targets.
Comment:
The next resistances are at 26190 and then at 26400.
Pivot:
1.3540
Our preference:
Long positions above 1.3540 with targets at 1.3590 & 1.3620 in extension.
Alternative scenario:
Below 1.3540 look for further downside with 1.3510 & 1.3480 as targets.
Comment:
The RSI calls for a bounce.
Pivot:
58300
Our preference:
Long positions above 58300 with targets at 59380 & 59690 in extension.
Alternative scenario:
Below 58300 look for further downside with 57870 & 57450 as targets.
Comment:
The RSI is above its neutrality area at 50%.