On Friday, May 9th, U.S. markets closed mixed, as investors focused on Trump’s call to lower Chinese tariffs ahead of weekend trade talks. While earnings remained strong, concerns over trade tensions and economic risks kept markets subdued. Energy stocks gained, but healthcare lagged, and Fed officials warned of growing tariff-related risks.
According to economic data, U.S. jobless claims dropped by 13,000 to 228,000, beating the 230,000 estimate, while nonfarm labor productivity fell by 0.8%, slightly worse than the expected 0.7% decline.
Most S&P 500 sectors ended higher Friday, led by real estate, consumer discretionary, and energy. Health care and communication services declined.
The Dow Jones Industrial Average was down 0.29% at 41,249.38, the S&P 500 declined 0.07% to 5,659.91, and the Nasdaq was almost flat at 17,928.92.
Asia Markets Today
- On Monday, Japan’s Nikkei 225 closed 0.42% higher at 37,660.00, led by gains in the Real Estate, Banking, and Textile sectors.
- Australia’s S&P/ASX 200 gained 0.03%, ending the session at 8,233.50, led by gains in the Energy, Resources, and Metals & Mining sectors.
- India’s Nifty 50 was up 3.81% at 24,924.05, and Nifty 500 rose 3.84% to 22,512.15.
- China’s Shanghai Composite gained 0.82% to 3,369.24, and the Shanghai Shenzhen CSI 300 was up 1.16% to 3,890.61.
- Hong Kong’s Hang Seng closed the session 2.98% higher at 23,549.46.
- The U.S. and China agreed to a 90-day pause and mutual tariff cuts, easing fears of further escalation. Stocks and currencies rallied, though some high levies remain and economic risks linger.
Eurozone at 05:45 AM ET
- The European STOXX 50 index was up 1.85%.
- Germany’s DAX index gained 1.12%.
- France’s CAC 40 rose 1.51%.
- The U.K.’s FTSE 100 index traded higher by 0.42%.
- European stocks rose on hopes of a China-U.S. trade deal, oil prices climbed, and UniCredit posted record profits. Meanwhile, markets eyed a likely ECB rate cut in June.
Commodities at 05:45 AM ET
- Crude Oil WTI was trading higher by 3.10% at $62.91/bbl, and Brent was up 2.88% at $65.69/bbl.
- Natural Gas gained 0.55% to $3.816.
- Gold was trading lower by 3.69% at $3,220.96, Silver was down 1.96% to $32.265, and Copper rose 0.11% to $4.6570.
U.S. Futures at 05:45 AM ET
Dow futures were up 2.20%, S&P 500 futures declined 2.82%, and Nasdaq 100 futures rose 3.80%.
Forex at 05:45 AM ET
- The U.S. dollar index gained 1.31% to 101.66, the USD/JPY rose 1.89% to 148.11, and the USD/AUD rose 0.25% to 1.5635.
- The dollar jumped to a one-month high after a U.S.-China tariff truce boosted investor confidence, lifting it sharply against the yen and Swiss franc. Easing geopolitical tensions and optimism over further trade talks also supported gains.
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