May 26th Morning Report

The US markets closed lower on Friday, notching a weekly loss, after President Donald Trump recommended 50% tariffs on European goods, reopening a new front in global trade tensions and unleashing a fresh wave of market uncertainty.

The Dow Jones Industrial Average down 0.61%, while the S&P 500 and Nasdaq Composite were down 0.67% and up 1.00% respectively.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (-0.24%), the Dax 30 (-1.54%), CAC 40 (-1.65%) and the STOXX (-1.81%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(+0.47%), HSI (+0.24%) and the Shanghai Composite (-0.94%).

The yield on the US 10 - year note was at 4.509%, while the 2 - year note was at 3.993%. Oil was up to $61.53 per barrel, up 0.54%. The gold price was at US$3394.50 per ounce, up 2.15%. 

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