Asia Markets Gain, Europe Dips, Dollar Pressured By Soft Inflation Data - Global Markets Today While US Slept

On Tuesday, May 13th, U.S. markets closed mixed; the S&P 500 and Nasdaq closed higher for a second day as cooling April inflation and a U.S.-China trade truce boosted investor confidence. The Dow slipped, weighed down by a steep drop in UnitedHealth shares. Traders expect the Fed to hold off on rate cuts until later this year, as recession concerns eased.

According to economic data, April U.S. inflation came in slightly below expectations, with headline CPI and core CPI rising by 0.2% month-over-month. Year-over-year, CPI slowed to 2.3%, while core CPI held steady at 2.8%, matching forecasts.

Six of the S&P 500’s 11 major sectors ended the day higher, with technology leading the gains. Healthcare was the weakest performer, posting the largest decline.

The Dow Jones Industrial Average declined 0.64% to 42,140.43, the S&P 500 gained 0.72% to 5,886.55, and the Nasdaq surged 1.61% to 19,010.09.

Asia Markets Today

• On Wednesday, Japan’s Nikkei 225 closed 0.14% lower at 38,130.50, led by losses in the Paper & Pulp, Transport, and Communication sectors.
• Australia’s S&P/ASX 200 gained 0.13%, ending the session at 8,279.60, led by gains in the Energy, IT, and Resources sectors.
• India’s Nifty 50 was up 0.32% at 24,658.40, and Nifty 500 rose 0.60% to 22,483.85.
• China’s Shanghai Composite gained 0.86% to 3,403.95, and the Shanghai Shenzhen CSI 300 was up 1.21% to 3,943.21.
• Hong Kong’s Hang Seng closed the session 2.30% higher at 23,640.65.

Eurozone at 05:45 AM ET

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• The European STOXX 50 index was down 0.55%.
• Germany’s DAX index declined 0.41%.
• France’s CAC 40 fell 0.64%.
• The U.K.’s FTSE 100 index traded lower by 0.11%.

Commodities at 05:45 AM ET

• Crude Oil WTI was trading lower by 1.18% at $62.91/bbl, and Brent was down 1.13% at $65.88/bbl.
• Oil prices dipped as traders anticipated a U.S. inventory build, despite support from a U.S.-China tariff pause and easing demand concerns amid broader geopolitical and trade-related developments.
• Natural Gas declined 1.81% to $3.581.
• Gold was trading lower by 0.26% at $3,239.34, Silver was down 0.44% to $32.953, and Copper fell 0.49% to $4.7000.
• Gold prices fell in Asia as easing U.S.-China trade tensions and soft U.S. inflation data reduced safe-haven demand.

U.S. Futures at 05:45 AM ET

Dow futures were down 0.04%, S&P 500 futures declined 0.05%, and Nasdaq 100 futures fell 0.03%.

Forex at 05:45 AM ET

• The U.S. Dollar Index declined 0.63% to 101.35, USD/JPY was down 1.15% to 145.81, and USD/AUD fell 0.20% to 1.5421.
• The U.S. dollar fell further on Wednesday after weaker April inflation data raised expectations for Fed rate cuts.

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