Zinger Key Points
- Gold dropped 2.04% to $3,325.59, Silver fell 1.31% to $33.17, and Copper declined 1.40% to $4.7645.
- Dow futures climbed 1.30%, the S&P 500 gained 1.53%, and the Nasdaq 100 rose 1.74%.
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On Friday, May 23, U.S. markets closed lower as investors turned cautious ahead of the Memorial Day holiday on Monday, May 26, amid renewed trade tensions and economic uncertainty. Stocks ended the week in negative territory after President Trump reignited tariff fears by proposing steep duties on European imports. Major indexes declined, led by tech and consumer losses. Apple fell on tariff concerns, while megacaps and chipmakers also retreated amid growing market unease.
According to economic data, new single-family home sales in the U.S. rose 10.9% in April, reaching an annualized pace of 743,000 units.
Most S&P 500 sectors closed lower Friday, led by sharp losses in tech, consumer discretionary, and communication stocks, while consumer staples and utilities outperformed with modest gains.
The Dow closed lower by 0.61% at 41,603.07, the S&P 500 dropped 0.67% to 5,802.82, and the Nasdaq slid 1.00% to 18,737.21.
Asia Markets Today
- On Tuesday, Japan's Nikkei 225 closed 0.58% higher at 37,749.00, led by gains in the Real Estate, Banking, and Textile sectors.
- Australia's S&P/ASX 200 rose 0.56%, ending the session at 8,407.60, led by gains in the IT, Financials, and Healthcare sectors.
- India's Nifty 50 was down 0.68% at 24,828.75, and Nifty 500 fell 0.39% to 22,817.75.
- China's Shanghai Composite was down 0.18% at 3,340.69, and Shanghai Shenzhen CSI 300 slid 0.54% to 3,839.40.
- Hong Kong's Hang Seng closed the session 0.43% higher at 23,381.99.
Eurozone at 05:45 AM ET
- The European STOXX 50 index was up 0.52%.
- Germany's DAX index gained 0.91%.
- France's CAC 40 rose 0.28%.
- U.K.'s FTSE 100 index traded higher by 1.08%.
Commodities at 05:45 AM ET
- Crude Oil WTI was trading higher by 0.37% at $61.77/bbl, and Brent was up 0.41% at $64.36/bbl.
- Natural gas slipped 1.72% to $3.664.
- Gold dropped 2.04% to $3,325.59, Silver fell 1.31% to $33.17, and Copper declined 1.40% to $4.7645.
- Gold prices slipped as President Trump delayed EU tariffs, boosting risk appetite. Stabilizing bond yields and profit-taking also pressured metals, though a weak dollar limited deeper losses.
U.S. Futures at 05:45 AM ET
- Dow futures climbed 1.30%, the S&P 500 gained 1.53%, and the Nasdaq 100 rose 1.74%.
- U.S. stock futures surged Tuesday after President Trump delayed steep EU tariffs, calming trade tensions.
Forex at 05:45 AM ET
The U.S. dollar index gained 0.35% to 99.34, the USD/JPY rose 0.74% to 143.89, and the USD/AUD rose 0.53% to 1.5501.
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