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S&P 500 Falls, Gold Declines on Rate Concerns, and Currencies See Mixed Movements | Daily Market Analysis
Key events: USA - Initial Jobless Claims USA - S&P Global US Manufacturing PMI (May) USA - S&P Global Services PMI (May) USA - New Home Sales (Apr) The S&P 500 ended Wednesday in the red, falling from its recent record high as investors processed the Federal Reserve's May meeting minutes, which highlighted ongoing inflation concerns. The Dow Jones Industrial Average dropped by 201 points or 0.5%, the S&P 500 decreased by 0.3%, and the NASDAQ Composite slipped by 0.2%.
Market Insights: S&P 500 Gains Momentum, USD/CAD Downtrend Persists Amidst Global Economic Developments | Daily Market Analysis
Key events: USA - Durable Goods Orders (MoM) (Mar) USA - Crude Oil Inventories Tuesday saw another positive close for the S&P 500, marking its second consecutive daily increase fueled by generally upbeat quarterly earnings as anticipation builds for the Magnificent 7's financial reports, with Tesla scheduled to unveil its figures after market hours. The Dow Jones Industrial Average surged by 263 points, or 0.7%, while the S&P 500 climbed by 1.2%, and the NASDAQ Composite soared by 1.6%.
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