Asia and Europe Markets Dip; Crude Hits $80 While Gold Declines - Global Markets Today While US Slept

Zinger Key Points
  • Crude Oil WTI traded higher by 0.93% at $80.57/bbl, and Brent was up 0.93% at $84.72 bbl.
  • Australia's S&P/ASX 200 index closed lower by 1.30% at 7,665.60.
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On Tuesday, May 28th, U.S. stock markets closed mixed, with the Nasdaq surpassing 17,000 for the first time, driven by a 7% surge in Nvidia that boosted other chip stocks, while the S&P 500 edged up slightly, and the Dow fell due to rising Treasury yields.

According to the economic data, the S&P CoreLogic Case-Shiller home price index rose 7.4% year-over-year in March, up from 7.3% in February, while the FHFA house price index increased by 0.1%, below the expected 0.5% gain.

Most S&P 500 sectors closed negatively, led by losses in industrials, healthcare, and financials. Meanwhile, information technology and energy stocks rose, with tech leading the gains.

The Dow Jones Industrial Average was down 0.55% and closed at 38,852.86. The S&P 500 rose 0.02%, ending the day at 5,306.04, and the Nasdaq Composite increased 0.59%, finishing the session at 17,019.88.

Asian Markets Today

  • On Wednesday, Japan’s Nikkei 225 declined 0.87%, ending the session at 38,521.50, led by losses in the Marine Transport, Machinery, and Warehousing sectors.
  • Australia’s S&P/ASX 200 index closed lower by 1.30% at 7,665.60, led by losses in the Consumer Staples, Industrials and Financials sectors.
  • Australian CPI inflation rose 3.6% year-on-year in April, exceeding expectations and March’s 3.5%, raising concerns that the Reserve Bank may need to keep interest rates high to manage price pressures.
  • India’s Nifty 50 was down 0.80% at 22,704.70, and the Nifty 500 closed lower by 0.61% at 21,256.30.
  • China’s Shanghai Composite was up 0.05%, ending the session at 3,111.02, and the Shenzhen CSI gained 0.12%, closing at 3,613.52.
  • Hong Kong’s Hang Seng ended the session lower by 1.83% at 18,477.01.

Eurozone at 06:00 AM ET

  • The European STOXX 50 index was down 0.71%.
  • Germany’s DAX declined 0.64%.
  • France’s CAC slid 0.90%.
  • U.K.’s FTSE 100 traded lower by 0.36%.

Commodities at 06:00 AM ET

  • Crude Oil WTI was trading higher by 0.93% at $80.57/bbl, and Brent was up 0.93% at $84.72 bbl.
  • Oil prices rose, driven by expectations of extended production cuts by major producers and increased fuel demand in the summer.
  • Natural Gas declined 1.06% to $2.795.
  • Gold was trading lower by 0.48% at $2,345.70; Silver rose 0.22% to $32.203, while Copper was down 0.65% to $4.8235.

US Futures at 06:00 AM ET         

Dow futures were down 0.53%, S&P 500 futures fell 0.59%, and Nasdaq 100 Futures slid 0.63%.

Forex at 06:00 AM ET

The U.S. Dollar Index gained 0.05% to 104.67, USD/JPY was up 0.04% at 157.22, and USD/AUD rose 0.12% to 1.5058.

Photo by Pavel Bobrovskiy via Shutterstock

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