US equity markets finished lower overnight as investors stepped back from technology stocks amid renewed concerns over elevated valuations and AI-related spending. The Nasdaq bore the brunt of the selling, falling 1.47%, while the S&P 500 and Dow also closed in the red. Geopolitical tensions in the Middle East added to the cautious tone. Gold was the standout mover, tumbling 2.23% to push back towards its lowest levels of the year.
📊 Equities
US equity markets finished lower overnight as investors stepped back from technology stocks amid renewed concerns over elevated valuations and ongoing AI-related spending. The Nasdaq bore the brunt of the selling, falling 1.47% to 25,881, while the S&P 500 lost 0.51% to 7,533 and the Dow Jones slipped 0.20% to 52,552. Geopolitical tensions in the Middle East also remained firmly in focus, adding to the cautious tone across financial markets.
🛢️ Oil
Energy markets were relatively subdued despite continued missile and drone strikes across the Gulf region. Brent crude eased 0.85% to US$84.23 per barrel, while WTI crude slipped 0.71% to US$79.60 as traders balanced geopolitical risk against concerns over global demand.
🥇 Gold
Gold was the standout mover of the session, tumbling 2.23% to US$3,969.94 an ounce, pushing the precious metal back towards its lowest levels of the year.
💵 FX & Bonds
US Treasury yields edged modestly higher, with the 2-year yield rising 0.9 basis points to 4.141% and the 10-year yield adding 0.6 basis points to 4.553%. The US Dollar Index also strengthened, gaining 0.21% to close at 100.70 as investors continued to favour the greenback amid heightened geopolitical uncertainty.
| Market | Change | Close |
|---|---|---|
| Dow Jones | -0.20% | 52,552 |
| S&P 500 | -0.51% | 7,533 |
| Nasdaq | -1.47% | 25,881 |
| USD Index | +0.21% | 100.70 |
| US Treasury 2Y | +0.9 bps | 4.141% |
| US Treasury 10Y | +0.6 bps | 4.553% |
| Oil – Brent | -0.85% | $84.23 |
| Oil – WTI | -0.71% | $79.60 |
| Gold | -2.23% | $3,969.94 |
📌 Today’s Focus
Attention now turns to a relatively quiet economic calendar to finish the week. However, market volatility is likely to remain elevated as investors continue to monitor developments in the Middle East. The key economic releases will be the preliminary University of Michigan Consumer Sentiment survey and Inflation Expectations data, both of which could influence expectations for the Federal Reserve’s policy outlook.
🔹 US – Preliminary University of Michigan Consumer Sentiment
🔹 US – Preliminary University of Michigan Inflation Expectations