Stocks closed lower on US trade uncertainty, but rebounded slightly on positive economic data.

From Nasdaq: 2025-05-05 18:46:00

Stock indexes closed lower on Monday due to US trade uncertainty. President Trump’s lack of plans to speak with Chinese President Xi Jinping caused concerns. However, indexes rebounded slightly after the US Apr ISM services index unexpectedly rose, easing recession fears. Energy stocks fell due to OPEC+ agreement to increase crude production. T-note prices dropped on the positive economic data and caution before the upcoming FOMC meeting. Bond yields in Europe moved lower. The Eurozone May Sentix investor confidence index exceeded expectations. Swaps indicate a high probability of a rate cut by the ECB in June. Earnings reporting season shows a decline in growth expectations for S&P 500 companies. Overseas markets settled lower. The market will focus on tariffs, US trade policy changes, and upcoming economic data releases. Gold-mining stocks rose as gold prices surged. Several US stocks, including energy and media companies, saw significant declines, while others like Howard Hughes Holdings and Freshpet saw gains. Earnings reports for various companies are expected on 5/6/2025.



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