? U.S. Market Summary – May 28, 2025

? U.S. Market Summary – May 28, 2025

Major Index Performance

• S&P 500: ↓ 0.6% to 5,888.6

• Dow Jones Industrial Average: ↓ 0.6% to 42,098.7

• Nasdaq Composite: ↓ 0.5% to 19,100.9

All sectors closed in negative territory, with utilities leading the losses.

? Key Highlights

• Investors remained cautious ahead of Nvidia's quarterly earnings, pulling the S&P 500 slightly lower.

• The Federal Reserve minutes revealed concerns over the inflationary impact of tariffs, signaling potential complications for future monetary policy.

• The Fed held interest rates steady for the third consecutive meeting at 4.25%–4.50%.

? Fed & Macroeconomics

• Fed officials noted that tariff-driven inflation could hinder policy flexibility, especially if labor conditions weaken.

• U.S. trade updates:

  • 90-day pause on certain tariffs for non-retaliating countries.

  • Suspension of most U.S.–China levies for 90 days.

  • Tariff deadline extension for the EU to July 9.

? Treasury Yields & Commodities

• 2-year Treasury yield: ↑ 4.9 bps to 4.00%

• 10-year Treasury yield: ↑ 4.9 bps to 4.48%

• WTI Crude: ↑ 1.1% to $61.58/barrel

• Gold: ↓ 0.3% to $3,292.30/oz

• Silver: ↓ 0.7% to $33.09/oz

? Notable Stock Movers

Losers:

• Okta (OKTA): ↓ 16% after maintaining full-year guidance and highlighting macroeconomic risks.

• A.O. Smith (AOS): ↓ 6.3% after Lennox (LII) and Aris (ARIS) announced a joint venture entering the water heater market.

• Deckers Outdoor (DECK): ↓ 4.3% amid volatility and a withheld full-year outlook.

• AES Corp. (AES): ↓ 3.67% following a downgrade by Argus Research.

Gainers:

• Abercrombie & Fitch (ANF): ↑ 15% on strong Q1 earnings and increased full-year sales guidance.

• Fair Isaac Corp. (FICO): Rebounded from recent losses after criticism from a federal housing official last week.