US equity markets presented a mixed performance on Thursday, closing with varying degrees of gain and loss. The Dow Jones Industrial Average concluded trading in New York at 44,651 points, a 0.4% increase from the previous day’s close.
The broader S&P 500 reached approximately 6,275 points, registering a 0.2% gain. Conversely, the Nasdaq 100 was recorded at around 22,829 points, marking a slight 0.2% decline.
Market activity continues to be influenced by US President Donald Trump’s trade policies, specifically impacting commodity markets. Recent copper tariffs have spurred a sentiment described by Jochen Stanzl, Chief Market Analyst at CMC Markets, as reminiscent of a “gold rush” amongst metals traders. This rapid influx of copper into the US, aimed at capitalizing on the tariff environment before its implementation, is leading to unusual shipments – even those originally destined for other regions – being redirected to American markets. Analysts warn that this activity could ultimately lead to a surplus of copper within the US, potentially impacting supply and pricing elsewhere globally.
The euro weakened against the US dollar, closing at $1.1698, equivalent to €0.8548 per dollar.
Gold prices saw a positive trajectory, reaching $3,325 per fine ounce – a 0.3% increase. This translates to a price of €91.39 per gram.
Oil prices, however, experienced a significant decrease. Brent crude, a key benchmark, closed at $68.88 per barrel, representing a drop of 131 cents or 1.9% compared to the previous day’s closing price.
