On Wednesday, April 23, U.S. markets closed higher on renewed optimism over U.S.-China trade talks and President Trump’s reassurances that Fed Chair Powell won’t be fired.
Markets welcomed signs of easing tariffs and Fed stability. Despite late-session pullbacks, all major indexes closed higher. Strong earnings also supported sentiment, with 75% of S&P 500 firms beating expectations.
According to economic data, U.S. new home sales surged by 7.4% to 724,000 units annually. S&P Global services PMI slipped to 51.4 in April, indicating slower growth, while manufacturing PMI rose slightly to 50.7, suggesting modest expansion in factory activity.
Most S&P 500 sectors ended higher, led by tech, consumer discretionary, and communication services. Consumer staples and energy lagged, closing lower.
The Dow Jones Industrial Average gained 1.07% to 39,606.57, the S&P 500 rose 1.67% to 5,375.86, and the Nasdaq Composite closed 2.50% higher at 16,708.05.
Asia Markets Today
- On Thursday, Japan’s Nikkei 225 gained 0.61% to close at 35,081.50, led by gains in the Real Estate, Banking, and Textile sectors.
- Australia’ S&P/ASX 200 closed higher by 0.60% at 7,968.20, led by gains in the Gold, Healthcare and Metals & Mining sectors.
- India’s Nifty 50 was down 0.24% at 22,185.95, and Nifty 500 slid 0.33% to 22,185.95.
- China’s Shanghai Composite rose 0.03% to 3,297.29, while Shanghai Shenzhen CSI 300 slid 0.07% to 3,784.36.
- Hong Kong’s Hang Seng closed 0.74% lower at 21,909.76.
Eurozone at 05:45 AM ET
- The European STOXX 50 was down 0.43%.
- Germany’s DAX declined 0.25%.
- France’s CAC 40 fell 0.43%.
- U.K.’s FTSE 100 index traded lower by 0.14%.
Commodities at 05:45 AM ET
- Crude Oil WTI was trading higher by 0.11% at $62.34/bbl, and Brent was down 0.02% at $66.11/bbl.
- Oil prices rebounded after yesterday’s drop as investors weighed potential OPEC+ output hikes, U.S.-China tariff signals, and nuclear talks with Iran amid ongoing market uncertainty.
- Natural Gas fell 1.46% to $2.978.
- Gold was trading higher by 1.36% at $3,339.15, Silver was down 0.66% to $32.8320, and Copper rose 0.29% to $4.8575.
- Gold prices jumped amid renewed U.S.-China trade war tensions and fresh Russia-Ukraine conflict, boosting haven demand.
U.S. Futures at 05:45 AM ET
Dow futures were down 0.67%, S&P 500 futures slid 0.60% and Nasdaq 100 futures declined 0.80%.
Forex at 05:45 AM ET
- The U.S. Dollar Index fell 0.53% to 99.38, USD/JPY was down 0.56% to 142.59, and USD/AUD slid 0.34% to 1.5672.
- The U.S. dollar weakened Thursday after Trump eased tensions with the Fed and China. Treasury Secretary Bessent’s comments on unsustainable tariffs and no set currency target added pressure.
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