Stocks finish lower for the day but had strong monthly gains
From Yahoo Finance: 2025-05-29 22:40:00
Global stocks finished down on Friday but saw the biggest monthly increase since late 2023, despite Trump administration tariff uncertainty. Markets were buoyed by easing U.S.-Europe trade tensions, Nvidia’s strong earnings mid-week, and a U.S. court ruling briefly overturning Liberation Day tariffs.
Trump accused China of violating trade agreements and hinted at tougher measures. Wall Street saw mixed results, with the S&P 500 and Nasdaq down, while the Dow ended higher. All three indexes closed the week and month up, with the S&P 500 and Nasdaq logging their largest monthly gains since November 2023.
European shares rose 0.14%, MSCI’s Asia-Pacific index gained nearly 5% for the month, and the main world index ended the week up 1.32%, marking the biggest monthly gain since November 2023. U.S. consumer spending increased slightly in April, and the Personal Consumption Expenditures Price Index rose as expected.
Trump and Fed Chair Powell met, with Powell emphasizing that monetary policy decisions will depend on economic data. The yield on U.S. 10-year notes fell, while the dollar was up against major peers. Oil prices settled lower as investors consider a potential OPEC+ output hike for July, with Brent crude futures down 0.39% and WTI crude down 0.25%.
Gold prices slipped as the dollar strengthened, with spot gold falling 0.7% and U.S. gold futures down 0.9%. The dollar index rose for a fifth straight month, reflecting ongoing tariff uncertainty.
Read more: Stocks finish lower but notch strong monthly gain despite tariff worries