US close, nos etc..13 May 2025 06:49
Wall closed higher yesterday with the 500 marking its highest level since March (breaking above its 200DMA) as a US-China agreement to temporarily slash tariffs brought hopes the trade stand off would cease for the agreed 90 days. The US will cut tariffs from 145% to 30% and China from 125% to 10%. Receipts from US tariffs hit a record high in April of $16•3bn double the average.
Investors responded by piling back into stocks sending the major averages up to their highest level in months. On the Dow 24 stocks gained led by Apple, Amazon & Nike while Verizon, Travellers & Coca Cola declined. Shares of companies that rely most on Chinese goods rallied the most. Best Buy, Dell Tech & Amazon jumped over 8%. Wall Street's fear gauge which hit a high of 60 not that long ago traded below 20 on Monday.
In commodities safe haven gold fell 3% as investors returned to risk on asset classes. The 'uncertainty' factor has been a key driver for gold prices which is rapidly fading. The May low of $3204 is holding for now. Next focus for investors comes today with the release of the US CPI report forecast to remain at 2•4%.
The earnings season is winding down as more than 90% of the S&P 500 have reported. Advancing issues outnumbered decliners by 2•83 to 1 on 20bn shares changing hands well above the 20DMA of 16•52bn.
Nyse data
Issues 2837
Advances 2125
Declines 663
U/c 49
NH 90
NL 12
T/vol(tn) 1•3
------------
DJ +1161 (42,410)
SP +184 (5844)
NS +806 (20,868)
R2 +46 (1311)
WTI $62
10ytb 4•456%
----------
MSCI(W) +82 (3794)
Gold Bugs -33 (367)
----------------
Latest :- Vix 18. Brent $65.
Gold $3258. Copper $4•632.
Palm $876. Silver $33•160.
$1•319. €1•187.
FF -24. DF -90.
Morning all.
Sign In
Follow the stocks
