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Stocks drift, dollar slips on US-China standoff – Apr 29 2025

Posted on

29/04/2025

by

moneysmart-girl

Today’s Key Market Moves

Wall Street’s big indexes sink as much as 1% intraday but recover by the close of trade. The Dow ends up 0.3%, the S&P 500 is essentially flat, and the Nasdaq dips 0.1%.
U.S. tech stocks fall 0.2%; real estate and energy lead the gainers, rising 0.8% and 0.6%, respectively.
India’s BSE Sensex rises 1.3% to a fresh high for the year above 80300 points.
Britain’s FTSE 100 rises for 11th consecutive session, its longest wining streak since December 2019.
The yen is the biggest G10 FX gainer, rising more than 1% to 142 yen per dollar.
Sterling jumps 0.9% and matches last September’s high of $1.3434. If that goes, sterling is at levels last seen more than three years ago.
U.S. bond yields fall by as much as 7 basis points at the short end, delivering a bull steepening of the curve.
The ‘risk off’ tone in U.S. trading lifts gold nearly 1% back up towards $3,350/oz.
Oil slides, Brent crude futures losing 1.5% to close at $65.86/bbl

Today’s key reads

Index	Last	Change	% Change
trading higher Dow Jones Industrial Average .DJI	40,227.59	+114.09	0.28%Positive
trading lower Nasdaq Composite Index .IXIC	17,366.13	-16.81	0.10%Negative
trading higher S&P 500 Index .SPX	5,528.75	+3.54	0.06%Positive

Index	Last	Change	% Change
trading higher Nikkei Index .N225	35,839.99	+134.25	0.38%Positive
trading higher Hang Seng Index .HSI	22,090.78	+118.82	0.54%

Fixed income

Treasuries untraded in Asia owing to Japan’s holiday, leaving US 10-year yields at 4.206% and futures broadly steady.

Equities

Nikkei and S&P 500 futures drifted higher.
Hang Seng (.HSI), up 0.3% in early trade and (.CSI300), fell 0.2%.

Forex

A holiday in Japan thinned currency trade in the Asia session, leaving most pairs steady.

At $1.1409 and up 5% in April, EUR set for largest monthly rise in 15 years.

USD 7% drop on CHF is largest in a decade.

Commodities

Gold surged to $3,333, up 7% in April and 27% YTD. Brent crude weaker at $65.68 a barrel.

For more news visit Reuters.com

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