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Business Standard
2 days ago
- Business
- Business Standard
Markets End Mixed as Inflation Eases, Fed Pauses and Trade Uncertainty Lingers
U.S. stocks closed higher amid easing inflation and strong gold and utility gains while global markets and bond yields reflected cautious sentiment. The S&P 500 ended the day up 23.02 points (0.4%) at 6,045.26, the Dow climbed 101.85 points (0.2%) to 42,967.62 and the Nasdaq rose 46.61 points (0.2%) to 19,662.48. The Labor Department said its producer price index for final demand inched up by 0.1% after slipping by a revised 0.2% in April. The report said the annual rate of growth by producer prices accelerated to 2.6% in May from 2.5% in April. Inflation data has come in lower than expected for the second consecutive day, giving the Federal Reserve room to remain patient. According to Chris Zaccarelli of Northlight Asset Management, this allows the Fed to observe how upcoming tariffs and trade talks may affect price stability. Stocks dipped earlier in the day as uncertainty lingered over the U.S.-China trade deal, with few details released. President Trump mentioned upcoming letters to trade partners about new tariff rates and hinted at a possible extension of the current 90-day tariff pause. Gold stocks strong moved upwards amid a sharp increase by the price of the precious metal, with the NYSE Arca Gold Bugs Index climbing by 1.5%. Utilities stocks are significantly strong, as reflected by the 1.4% gain posted by the Dow Jones Utility Average. Software, pharmaceutical and networking stocks also moved notably higher on the day while airline stocks extended Wednesday's slump. Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index slid by 0.7%, while South Korea's Kospi climbed by 0.5%. The major European markets also ended the day mixed. While the U.K.'s FTSE 100 Index rose by 0.2%, the French CAC 40 Index edged down by 0.1% and the German DAX Index fell by 0.7%. In the bond market, treasuries extended the notable upward move seen in the previous session. As a result, the yield on the benchmark ten-year note which moves opposite of its price, declined 5.5 bps to a one-month closing low of 4.35%.
Business Standard
29-05-2025
- Business
- Business Standard
Markets Dip Amid Trade Uncertainty, Dow Sheds 245 Points
U.S. stocks fall as Trump's tariff threats stir volatility; Nvidia dips post-earnings, housing and utility stocks slump while gold stocks rise. The Dow declined 244.95 points or 0.6 percent to 42,098.70, the Nasdaq fell 98.23 points or 0.5 percent to 19,100.94 and the S&P 500 slid 32.99 points or 0.6 percent to 5,888.55. President Donald Trump's trade policies are uncertain due to which the traders are on side lines following recent volatility. Trump's threat to impose 50 percent tariffs on imports from the European Union triggered a steep drop by stocks last Friday only for his decision to delay the proposed tariffs to spark the rally on Tuesday. Nvidias shares decreased by 0.5% after its release of fiscal first quarter results. Housing stocks turned in some of the market's worst performances, dragging the Philadelphia Housing Sector Index down by 2.4 percent. Utilities stocks are considerably weak , as reflected by the 1.6 percent loss posted by the Dow Jones Utility Average. Steel, oil producer and transportation stocks moved downwards while gold stocks moved higher despite a modest decrease by the price of the precious metal. Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index and China's Shanghai Composite Index closed just below the unchanged line, while South Korea's Kospi surged by 1.3 percent. The major European markets all moved to the downside on the day while the German DAX Index slid by 0.8 percent, the U.K.'s FTSE 100 Index fell by 0.6 percent and the French CAC 40 Index decreased by 0.5 percent. In the bond market, treasuries gave back ground after moving notably higher over the past few sessions. Subsequently, the yield on the benchmark ten-year note which moves opposite of its price, climbed 4.3 bps at 4.47 percent.
