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29.05.2025 10:49 AM
U.S. stock indices closed in the red on Wednesday as investors digested new signals from the Federal Reserve's latest policy meeting, while chip-related stocks took a hit late in the trading session.
Shares of Nvidia (NVDA.O) jumped 5% in after-hours trading thanks to better-than-expected quarterly revenue. However, enthusiasm was tempered by the company's revenue outlook for the second quarter, which came in below Wall Street forecasts. During the regular session, Nvidia's stock slipped 0.5%.
Cadence Design Systems (CDNS.O) and Synopsys (SNPS.O) both fell sharply after a Financial Times report revealed that the Trump administration had directed U.S. semiconductor design software firms to halt sales to Chinese companies. The story, citing unnamed sources, triggered a 10.7% plunge in Cadence shares.
Minutes from the Federal Reserve's May 6–7 meeting showed policymakers acknowledging looming trade-offs. The central bank faces a challenging path ahead, as it may need to juggle rising inflation and the threat of increasing unemployment.
A day earlier, markets had staged a strong rally after Donald Trump unexpectedly dialed back his threat to impose 50% tariffs on European imports. That moment of relief, however, proved short-lived.
U.S. stocks ended Wednesday's session in the red, with all three major indices losing ground amid ongoing market uncertainty and geopolitical tensions.
Market Summary:
After the regular session ended, chipmakers posted gains. Broadcom (AVGO.O) rose by 3.2%, while Advanced Micro Devices (AMD.O) climbed 1.5%, reflecting continued investor interest in the semiconductor sector.
Year-to-date, the S&P 500 is up by just 0.1%, still trailing behind its all-time closing high from February 19. Since then, the index has dropped 18.9%, weighed down by erratic tariff policy statements from Donald Trump that shook markets throughout much of his second term.
A recent survey of strategists and analysts suggests that the S&P 500 is likely to end the year near current levels. Investors remain cautious amid persistent economic headwinds and global trade concerns.
Shares of Dick's Sporting Goods (DKS.N) rose 1.7% after the retailer reported first-quarter earnings that surpassed Wall Street expectations, highlighting resilience in consumer spending on athletic gear.
European markets opened higher on Thursday, buoyed by a U.S. trade court decision that halted former President Donald Trump's proposed import tariffs. The court ruled that Trump had overstepped his authority by imposing sweeping duties without Congressional approval.
The pan-European STOXX 600 index climbed 0.4% by 07:15 GMT, while regional indices were broadly in positive territory. Germany's DAX 40 gained 0.5%, hovering just below its all-time high.
U.S. stock futures surged over 1.5% in premarket trading as the court ruling brought temporary relief from lingering trade tensions.
European firms with AI exposure posted notable gains. Shares of ASML and Schneider Electric both rose by around 3%, while the region's tech sector index (.SX8P) led the charge with a 1.7% increase.
Carmakers — often vulnerable to protectionist measures — saw early gains. Stellantis shares advanced 2.5%, Porsche gained 1%, and Volkswagen added 1.2%, driven by optimism around a more open trade environment.
Luxury brands also saw investor enthusiasm. Kering, Christian Dior, and Burberry stocks rose between 3% and 3.6%, as the high-end consumer segment continued to signal strength.
Asian equities and Wall Street futures soared on Thursday following a surprising U.S. federal court ruling that halted President Donald Trump's proposed "Liberation Day" tariffs. The decision boosted risk appetite and strengthened the dollar against safe-haven currencies.
A relatively obscure U.S. Court of International Trade, based in Manhattan, ruled that Trump had exceeded his executive authority by imposing blanket import tariffs on April 2, targeting America's trading partners.
The market welcomed the legal barrier to tariff escalation. Japan's Nikkei (.N225) surged 1.7%, while South Korea's Kospi (.KS11) climbed 1.8%, reaching a nine-month high.
The MSCI Asia-Pacific index ex-Japan rose 0.5%, and China's blue-chip CSI300 advanced 0.6%, supported by strong gains in major listed firms.
In commodities, gold—a traditional haven—fell as investors shifted back into equities. The precious metal dipped 0.5% to $3,271 per ounce.
Oil prices, meanwhile, extended their rally. The drivers: OPEC+ maintained its current production policy, and the U.S. banned Chevron from exporting Venezuelan crude, fueling supply concerns.
U.S. WTI crude rose $1, reaching $62.84 per barrel.
