Global Markets Snapshot: Mixed Finish on May 9, Tentative Start on May 12
- NexxtGen Markets
- 6 days ago
- 3 min read
Good morning, here's the latest Global Financial Markets news from Steve Halls at NexxtGen Markets here in the City of London...
Global markets wrapped up the week with a mixed performance on Friday 9th May, as investor sentiment remained caught between strong corporate earnings and broader macroeconomic uncertainty. As we begin a new trading week on Monday 12th May, early activity reflects caution as investors await fresh data and geopolitical developments.
Major Equity Indices: Snapshot
🇺🇸 United States
S&P 500: Closed at 5,626.02 (+0.54%). The benchmark index edged higher, supported by tech and consumer discretionary stocks. Strength in chipmakers and continued AI-driven optimism helped maintain positive momentum.
Dow Jones Industrial Average: Finished at 41,393.78 (+0.72%). The index was led higher by gains in financials and industrials, with easing inflationary concerns improving investor confidence.
Nasdaq Composite: Ended at 17,683.98 (+0.65%). Tech heavyweights performed well, particularly in the semiconductor and software segments, helping the Nasdaq extend its recent run.
🇬🇧 FTSE 100
Closed up 0.20% on Friday, reversing a two-day slide. Strength in oil majors and miners supported the index, alongside a slightly weaker pound, which favours internationally exposed firms.
🇩🇪 DAX (GER40)
Closed at a record high of 23,499.32, as investor appetite for European equities remained robust. The German economy continues to show signs of resilience, especially within industrial and export-driven sectors.
🇭🇰 Hang Seng Index
Closed at 22,868 (+0.4%), marking a weekly gain of 1.6%. Financials and real estate stocks rallied as mainland investors returned after a brief holiday week, optimistic about upcoming policy support.
🇯🇵 Nikkei 225
Closed at 38,073.98 (-0.3%), taking a breather after a strong rally in April. Some profit-taking and yen strength trimmed gains in exporters and technology stocks.
🇨🇳 China 30 (China A50)
Although official data for the "China 30" was limited, broader Chinese markets displayed a mixed finish. Investors remain cautious amid weak economic data and continued concerns around property sector debt.
Commodities Overview
🪙 Precious Metals
Gold: Closed at $2,606.20 per ounce (+0.99%). Demand for safe-haven assets rose slightly on renewed geopolitical concerns and central bank buying.
Silver: Finished at $32.54 per ounce (+0.29%). Movement was largely in line with gold, supported by industrial demand and inflation hedging.
Platinum: Hovering near $1,000 per ounce, with subdued volatility. Demand from the automotive sector (particularly for catalytic converters) remains key.
Palladium: Steady around $1,000 per ounce. Supply constraints in Russia and recovering industrial use continue to support prices.
🛢️ Energy Markets
Crude Oil (WTI): Closed at $69.24 per barrel (+0.39%). Markets saw modest gains, driven by lower-than-expected U.S. inventory data and hopes for increased summer travel demand.
Natural Gas: Prices remained stable but muted. With weather patterns becoming more temperate, demand expectations have softened. Market remains sensitive to production levels and storage data.
Cryptocurrency Market (Top 5 by Market Cap)
Bitcoin (BTC): Trading at approximately $65,000. Price remains in consolidation with long-term holders unfazed. Momentum is building ahead of potential ETF flows.
Ethereum (ETH): Around $3,500. ETH held its ground, benefiting from the rising tide of decentralised applications and upcoming network upgrades.
Binance Coin (BNB): Near $600. Strong usage of the Binance Smart Chain continues to underpin BNB's valuation.
Solana (SOL): Trading at $150. Performance is closely tied to ecosystem growth and transaction scalability improvements.
Cardano (ADA): Around $1.20. While development activity remains strong, price momentum is lagging compared to other layer-1 networks.
This Week’s Market Focus
This week, investor attention will turn to:
US inflation data due Wednesday
ECB policy meeting minutes
China’s latest retail sales and industrial output data
Earnings from several key firms across tech, retail, and energy
With central bank tone, macro indicators, and geopolitical events all on the radar, volatility may increase as traders reposition portfolios ahead of summer.
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