Market News

Market Snapshot Index Close Change % Change S&P 500 7,520.36 +1.24 +0.02% NASDAQ 26,674.73 +18.55 +0.07% DOW 50,644.28 +182.60 +0.36% Russell 2000 2,919.94 -0.60 -0.02% VIX 16.29 -0.72 -4.23% Breaking News & Macro Events EU Approves US Trade Deal Implementation Amid Tariff Threats — Euronews The EU reached agreement to implement the US trade deal eliminating duties on most US industrial goods, concluding negotiations after Trump threatened 25% tariffs on EU cars by July 4. The Commission retains authority to suspend the deal if the US fails to lift tariffs on European steel and aluminum by year-end 2026. ...

Overnight Developments Trump Says Iran Talks ‘Proceeding Nicely’ — Oil Plunges, Risk Assets Rally — Bloomberg President Trump signaled overnight that diplomatic talks with Iran aimed at ending the Middle East conflict are “proceeding nicely,” sparking a sharp re-pricing of geopolitical risk. WTI crude futures dropped more than 5% as traders unwound the war premium, easing inflation worries that had been weighing on equities. Global risk assets rallied on the news, with US equity futures gapping higher and European indices following Asia’s lead. ...

Market Snapshot Index Close Change % Change S&P 500 7,519.12 +45.65 +0.61% NASDAQ 26,656.18 +312.21 +1.19% DOW 50,461.68 -118.02 -0.23% Russell 2000 2,920.54 +51.31 +1.79% VIX 17.01 +0.42 +2.53% Breaking News & Macro Events Brent Crude Plunges 6%+ on US–Iran Ceasefire Optimism — Fortune Brent crashed to $96.47/bbl, the lowest since April, as the US and Iran discussed extending a two-month ceasefire that would lift the US blockade and reopen the Strait of Hormuz. WTI followed lower (-3.07%). Energy weakness was the day’s most consequential macro signal — softening inflation expectations while removing a key geopolitical tail risk. ...

Market Snapshot Index Close Change % Change S&P 500 7,473.47 +27.75 +0.37% NASDAQ 26,343.97 +50.87 +0.19% DOW 50,579.70 +294.04 +0.58% Russell 2000 2,869.23 +25.77 +0.91% VIX 16.70 -0.06 -0.36% Markets closed broadly higher heading into the Memorial Day weekend, with the Dow setting a new record close. Small caps led on the day as the Russell 2000 outpaced large-cap benchmarks, while volatility eased back below 17. Breaking News & Macro Events Trade Court Rejects Trump’s Section 122 Global Tariffs — Baker Botts A divided U.S. Court of International Trade panel ruled on May 7 that President Trump’s 10% global tariffs imposed under Section 122 of the Trade Act of 1974 were unlawful, rejecting an expansive reading that would have allowed Section 122 to function as a catch-all tariff power. Treasury Secretary Scott Bessent has indicated tariffs could return to prior levels by early July through other authorities, keeping trade policy on investors’ watch list. ...

Market Snapshot Index Close Change % Change S&P 500 7,445.72 +12.75 +0.17% NASDAQ 26,293.10 +22.74 +0.09% DOW 50,285.66 +276.31 +0.55% Russell 2000 2,843.45 +26.09 +0.93% VIX 16.76 -0.69 -3.95% Breaking News & Macro Events U.S.-Iran Negotiations Boost Equities; Dow Hits Record on Geopolitical Optimism — TheStreet Dow Jones rose 0.55% to a record 50,285.66 on reports of a U.S.–Iran draft agreement. Oil prices fell nearly 2% as geopolitical tensions eased. Russell 2000 led broad-market gains (+0.93%) and the VIX dropped almost 4%, signaling a clear risk-on tone even as mega-cap tech sat out the rally. ...

Market Snapshot Index Close Change % Change S&P 500 7,432.97 +79.36 +1.08% NASDAQ 26,270.36 +399.65 +1.54% DOW 50,009.35 +645.47 +1.31% Russell 2000 2,817.36 +70.29 +2.56% VIX 17.44 -0.63 -3.49% The Dow crossed 50,000 for the first time as small caps led, the VIX cooled below 18, and risk appetite returned ahead of NVIDIA’s after-hours print. Breaking News & Macro Events NVIDIA Beats Earnings, Raises Guidance; S&P 500 Climbs 0.32% — TheStreet NVIDIA reported Q1 FY2027 revenue of $81.62B (+85% YoY) with $91B Q2 guidance and authorized an $80B buyback alongside a quarterly dividend bump to 25 cents. Despite the headline beat, shares dipped in after-hours trading, suggesting expectations had been priced in. ...

Overnight Developments Trump Postpones Iran Strike After Gulf Allies’ Request; Iran Sends Peace Proposal — Bloomberg / Schwab President Trump called off a Tuesday military strike on Iran at the request of Gulf allies as Tehran submitted a fresh peace proposal to Washington. Iranian media also reported a U.S. offer of a temporary oil-sanctions waiver (unconfirmed). De-escalation is pushing crude lower and reads broadly risk-on for equities — though defense and energy names will see two-way flows at the open. Affected sectors: Energy, Defense, Airlines, Transports ...

Market Snapshot Index Close Change % Change S&P 500 7,353.61 -49.44 -0.67% NASDAQ 25,870.71 -220.03 -0.84% DOW 49,363.88 -322.24 -0.65% Russell 2000 2,747.07 -28.03 -1.01% VIX 18.06 +0.25 +1.40% Broad-based selloff with small caps leading lower. VIX climbing but still subdued near 18 — markets de-risking ahead of Nvidia earnings tomorrow rather than panicking. Breaking News & Macro Events S&P 500 posts third straight loss amid rising Treasury yields — TheStreet Third consecutive down session as the 30-year Treasury yield touched 5.198%, its highest mark in nearly two decades. The bond market is doing the tightening the Fed is no longer doing — equity multiples are taking the hit. ...

Overnight Developments Trump Escalates Iran Tensions With New Warning — CNBC Trump posted on Truth Social Sunday warning Iran “the clock is ticking” and there “won’t be anything left” if action wasn’t taken soon. This reignited a geopolitical risk premium on oil and weighed on Asia-Pacific equities overnight. Affected sectors: Energy, Defense, broader risk-off pressure on Tech. China Economic Slowdown Accelerates — Bloomberg April data showed growth slowing across the board with fixed-asset investment returning to contraction. The print pressures Beijing toward additional stimulus while combining poorly with elevated oil — a stagflation flavor that hits industrial demand and global growth proxies. Affected sectors: Industrials, Materials, Semiconductors with China exposure. ...

Market Snapshot Index Close Change % Change S&P 500 7,403.05 -5.45 -0.07% NASDAQ 26,090.73 -134.41 -0.51% DOW 49,686.12 +159.95 +0.32% Russell 2000 2,775.10 -18.20 -0.65% VIX 17.82 -0.60 -3.26% Rotation under the surface: Dow up, NASDAQ down, megacap tech mixed ahead of NVDA earnings on Wednesday. Nuclear, crypto-adjacent, and several momentum names took it on the chin while UNH and RKLB led on idiosyncratic news. Breaking News & Macro Events Court Strikes Down Second Round of Trump Tariffs — NPR The U.S. Court of International Trade ruled the administration’s 10% global tariffs under Section 122 unlawful, following February’s Supreme Court decision that struck down the broader double-digit tariff regime. The court found the balance-of-payments deficit condition required for Section 122 invocation does not currently exist. Margin tailwind for tariff-exposed importers (NKE, AAPL); legal uncertainty continues to fog supply-chain planning. ...