Tuesday Afternoon Coffee - Markets Update - 29 Apr 2025 - Markets Jittery as Trade Talks Drag, Canada Pushes Back on Trump; Oil, Gold Slide

Markets Update: U.S. stocks fluctuated between gains and losses as investors considered a flood of corporate earnings, mixed messages from global trade talks, and new data indicating a weakening economic outlook. Meanwhile, crude oil and gold prices fell, and Treasury yields kept declining.

Global Markets Roundup: 29 Apr 2025

Stocks Mixed as Tariff Talks Continue, Canada Pushes Back

Equities finished slightly higher in a volatile session, with the Dow leading gains. Markets digested U.S. Treasury Secretary Scott Bessent's comments that trade talks, particularly with China, remain ongoing but largely hinge on Beijing. His remarks followed Canada’s election outcome, widely interpreted as a public rejection of President Donald Trump’s aggressive trade posture and controversial statements about incorporating Canada as the "51st state."

China, meanwhile, signaled some flexibility by exempting U.S. ethane imports from its 125% tariff, underscoring the evolving nature of the trade battle. Dow Jones Industrial Average: +225.92 points (+0.56%) to 40,453.51S&P 500: +10.79 points (+0.19%) to 5,539.54Nasdaq Composite: +13.18 points (+0.07%) to 17,378.36

Global Stocks Gain, But Sentiment Fragile

European and Asian markets closed broadly higher, with investors balancing corporate earnings against geopolitical risks.

MSCI All-Country World Index: +0.27% to 829.47
STOXX Europe 600: +0.38%
FTSEurofirst 300: +0.39%
Emerging Markets Index: +0.43% to 1,107.28
Japan’s Nikkei 225: +0.38% to 35,839.99
Asia-Pacific ex-Japan Index: +0.34% to 575.73

Dollar Edges Higher, Canadian Loonie Weakens Post-Election

The U.S. dollar gained modestly after Bessent’s comments, though it remains on track for its largest two-month decline in over two decades. Canada’s currency dipped following Prime Minister Mark Carney’s re-election amid backlash over Trump’s tariff pressure.

Dollar Index DXY: +0.12% to 99.16
EURUSD: -0.21% to $1.1397
USDJPY : +0.11% to 142.18
GBP/USD: -0.31% to $1.3397
USD/MXN: -0.03% to 19.586
USD/CAD: +0.22% to 1.39

Treasuries Rally on Weak Data

Bond yields declined for the sixth consecutive session as weak economic indicators, including a larger-than-expected drop in consumer confidence and a 3.9% fall in job openings, heightened concerns over growth.

10-Year Yield: Down 3.7 bps to 4.179%
30-Year Yield: Down 2.9 bps to 4.6636%
2-Year Yield: Down 2.5 bps to 3.66%

Oil Sinks on Demand Worries

Crude prices slumped nearly 2% as investors feared the multi-front trade war could spark a global recession and depress energy demand.

WTI Crude: -1.93% to $60.85/barrel
Brent Crude: -1.96% to $64.54/barrel

Gold Falls, Commodities Mixed

Gold prices slipped as the stronger dollar dented appeal, while cocoa dropped below $9,000/tonne amid easing crop concerns. Grains fell across the board.

Spot GOLD: -0.9% to $3,311.29/oz
U.S. Gold Futures: -0.69% to $3,310.00/oz
Cocoa: Below $9,000/tonne
Wheat (ZW1!): -0.33% to $5.29¼/bushel
Corn (ZC1!): -1.6% to $4.75½/bushel
Soybeans (ZS1!): -1.27% to $10.49/bushel

Looking forward refer to the economic calendar below to see the upcoming events scheduled for today and the rest of the week.

General news - Information source from multiple newswires.

The article and the data is for general information use only, not advice!

The Trade Academy Team