Gold Up, Dollar Slides On Debt Concerns - Global Markets Today While US Slept

On Thursday, May 22, U.S. markets closed mixed, easing Treasury yields helped offset earlier losses tied to deficit concerns. The House passed Trump's tax and spending bill, which fulfilled key campaign promises but significantly increased the national debt. Investors remain wary of ongoing uncertainty around tariffs and interest rates, which continue to weigh on market sentiment.

In economic data, U.S. initial jobless claims fell by 2,000 to 227,000 for the week ending May 17, below expectations of 230,000. The S&P Global services PMI rose to 52.3 in May from 50.8, and the manufacturing PMI also climbed to 52.3 from 50.2 in April, indicating stronger economic momentum.

Most S&P 500 sectors ended lower on Thursday, led by declines in utilities, health care, and energy. Consumer discretionary and communication services outperformed, closing higher.

The Dow closed flat at 41,859.09, the S&P 500 dropped 0.04% to 5,842.01, while the Nasdaq gained 0.28% to 18,925.74.

Asia Markets Today

• On Friday, Japan's Nikkei 225 closed 0.42% higher at 37,140.00, led by gains in the Real Estate, Banking, and Textile sectors.
• Australia's S&P/ASX 200 rose 0.15%, ending the session at 8,360.90, led by gains in the IT, Energy, and A-REITs sectors.
• India's Nifty 50 was up 0.99% at 24,853.10, and Nifty 500 rose 0.83% to 22,781.55.
• China's Shanghai Composite was down 0.94% at 3,348.37, and Shanghai Shenzhen CSI 300 slid 0.81% to 3,882.27.
• Hong Kong's Hang Seng closed the session 0.24% higher at 23,601.26.

Eurozone at 05:45 AM ET

Get Started

Earn 7.2% — No Matter What the Fed Does

Markets expect rate cuts — but your earnings don’t have to suffer. Lock in 7.2% until 2028 from ten individual bonds.

Get Started

• The European STOXX 50 index was down 0.10%.
• Germany's DAX index gained 0.25%.
• France's CAC 40 fell 0.35%.
• U.K.'s FTSE 100 index traded higher by 0.19%.

Commodities at 05:45 AM ET

• Crude Oil WTI was trading lower by 0.03% at $61.18/bbl, and Brent was down 0.03% at $64.42/bbl.
• Natural Gas gained 1.48% to $3.301.
• Gold was trading higher by 1.02% at $3,327.49, Silver was up 0.29% to $33.315, and Copper fell 1.02% to $4.7275.
• Gold prices rose on safe-haven demand fueled by U.S. debt concerns and Middle East tensions.

U.S. Futures at 05:45 AM ET

Dow futures were down 0.13%, S&P 500 futures declined 0.06%, and Nasdaq 100 futures fell 0.07%.

Forex at 05:45 AM ET

• The U.S. Dollar Index declined 0.56% to 99.38, USD/JPY was down 0.47% to 143.35, and USD/AUD slid 0.83% to 1.5471.
• The dollar fell for the week as U.S. debt concerns and Trump's tax bill spooked investors. Rising yields failed to stem outflows, boosting the euro and pressuring sentiment.

Photo via Shutterstock