US equity markets finished higher Wednesday, spurred by reports suggesting a potential trade agreement between the United States and the European Union. The Dow Jones Industrial Average closed at 45,010 points, marking a 1.1% increase compared to the previous trading session.
Shortly before the market close in New York, the broader S&P 500 reached approximately 6,360 points, reflecting a 0.8% gain. The Nasdaq 100 index registered around 23,160 points at that time, up 0.4%.
The anticipated easing of trade tensions, specifically a potential agreement concerning import tariffs on EU products – reportedly a reduction from 30% to 15% – appears to have contributed to the market’s positive performance. Recent commentary from German Chancellor Friedrich Merz further indicated optimism regarding potential resolutions.
The euro strengthened against the US dollar, trading at $1.1774, with the dollar equivalent to €0.8493.
Gold prices saw a notable decline, closing at $3,390 per fine ounce, a decrease of 1.1%. This translates to €92.57 per gram.
Conversely, crude oil prices rose. Brent North Sea crude was trading at $68.74 per barrel as of approximately 10:00 PM German time, representing a 15-cent or 0.2% increase from the end of the previous trading day.
