Gold Slides On Trade Optimism, Dollar Strengthens - Global Markets Today While US Slept

On Wednesday, April 30, U.S. markets closed mixed as the Dow and S&P 500 staged a late rebound, overcoming a surprise 0.3% GDP contraction — the first in three years. Consumer spending jumped 0.7%, easing stagflation concerns, while Meta and Microsoft surged on strong earnings. AI sector jitters, tariff tensions, and Fed rate cut bets fueled market volatility, with trading volumes below average.

In economic data, U.S. GDP fell 0.3% last quarter, the first decline since 2022, missing 0.4% growth forecasts. April's ADP report showed just 62,000 new private jobs, the weakest in nine months.

Most S&P 500 sectors ended higher Wednesday, led by health care, industrials, and consumer staples, while energy and consumer discretionary lagged.

The Dow Jones Industrial Average rose 0.35% to 40,669.36, the S&P 500 gained 0.15% to 5,569.06, while the Nasdaq declined 0.09% to 17,446.34.

Asia Markets Today

• On Thursday. Japan's Nikkei 225 closed higher by 1.22% at 36,486.50, led by gains in the Real Estate, Banking, and Textile sectors.
• The BOJ held rates steady and cut growth forecasts, citing U.S. tariffs, but still expects to hit its 2% inflation target by late 2026.
• Australia's S&P/ASX 200 gained 0.24%, ending the session at 8,145.60, led by gains in the IT, A-REITs, and Consumer Staples sectors.
• India market is closed for the Maharashtra Day holiday.
• China markets closed for the Labor Day holiday.

Eurozone at 05:45 AM ET

• The European STOXX 50 index closed for the Labor Day holiday.
• German markets closed for the Labor Day holiday.
• France markets closed for the Labor Day holiday.
• U.K.'s FTSE 100 index traded lower by 0.02%.

Commodities at 05:45 AM ET

• Crude Oil WTI was trading lower by 2.25% at $56.89/bbl, and Brent was down 2.11% at $59.77/bbl.
• Natural Gas gained 2.56% to $3.411.
• Gold was trading lower by 2.66% at $3,231.94, Silver was down 1.20% to $32.140, and Copper rose 0.86% to $4.6485.
• Gold prices fell for a third session as hopes for U.S. trade deals reduced safe-haven demand. Weak U.S. GDP data fueled rate-cut speculation, and copper prices edged higher on easing U.S.-China trade tensions.

U.S. Futures at 05:45 AM ET

Dow futures were up 0.75%, S&P 500 futures gained 1.22%, and Nasdaq 100 futures rose 1.71%.

Forex at 05:45 AM ET

The U.S. dollar index rose 0.21% to 99.85, the USD/JPY rose 0.99% to 144.35, and the USD/AUD gained 0.33% to 1.5672.

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