- US stocks close mixed. Dow closes higher. S&P and Nadaq close lower
- Fed's Goolsbee; Inflation has got to be front of mind when Warsh starts as chair
- Trump: Stops the planned attack on Iran on request from Saudi's and UAE
- Jury rules against Elon Musk and for Sam Altman and OpenAI.
- Japan's Finance Minister Katayama seeing speculative moves in the financial markets
- Official: Report that US has agreed to lift oil sanctions while talks unfold, are false:
- European shares close mostly higher on the day
- US Senior Official: US rejects Irans most recent proposal
- NAHB housing market Index for May 37 versus 34 estimate
- Al Arabiya: Iran agrees to long-term nuclear freeze in lieu of a complete dismantling.
- investingLive European markets wrap: A more cautionary mood; US to waive Iran sanctions?
- US reportedly to temporarily waive Iran sanctions in new draft proposal
- Silver converges lower with gold on surging real yields amid Fed hikes risk. What's next?
Iran submitted a response to an earlier US proposal to end the war through mediator Pakistan, signaling it was focused entirely on ending the conflict but notably not addressing nuclear matters — leaving a significant gap between the two sides.
Trump called Iran's response "TOTALLY UNACCEPTABLE," though he did not specify which aspects he objected to. The US Ambassador to the UN said Trump was giving diplomacy every chance before resuming military action, while Netanyahu said there was still work to be done on dismantling Iranian enrichment sites and ballistic missiles.
Trump then announced Monday he was calling off a planned attack on Iran scheduled for Tuesday, after receiving personal requests from the Qatari Emir, Saudi Crown Prince Mohammed bin Salman, and UAE President Mohammed bin Zayed Al Nahyan to hold off in order to allow for serious negotiations. The pause is firmly conditional — Trump instructed Defense Secretary Hegseth and Joint Chiefs Chairman General Dan Cain to remain prepared to launch a full, large-scale assault on a moment's notice if an acceptable deal is not reached.
The news caused some ups and downs in the market - especially the stock and oil market. The US stocks opened higher but gave up the gains which saw the Nasdaq move down -357 points at the low, the S&P down -55.32 points at the low and the Dow down -173.01 at the low. However, by the close, the prices had rebounded. The final numbers show:
- Nasdaq -134.41 or -0.51% at 26090.73.
- S&P index -5.45 points or -0.07% at 7403.04
- Dow industrial average +160.02 points or 0.32% have 49690.96
Crude oil prices also rode the wave of news headlines and had a trading range near seven dollars. The low for the day reached $98.60 while the high extended to $105.21.The price is trading at $102.48 – still of on the day but nearly 3 dollars off the high price.
US yields were also volatile with the gains being raised as oil fell and the USD declined. At the end of day
- 2 year yield 4.045%, -3.8 basis points
- 5 year yield 4.235%, -2.3 basis points
- 10-year yield 4.581%, -1.0 basis points
- 30 year yield 51124%, -0.4 basis points
IN the forex the greenback was lower versus the major currencies:
EURUSD:
The EURUSD extended to fresh session highs in the final hours of trading, reaching 1.1660 and moving above the prior target at 1.16551. That breakout shifts the focus higher, with the next key upside target coming against the falling 100-hour moving average at 1.1674. Above that, traders will look toward the 200-day moving average and the broken 38.2% retracement level near 1.1681.
On the downside, former resistance between 1.1637 and 1.1646 is now expected to act as support. Staying above that zone keeps the buyers more in control heading into the new trading day.
USDJPY:
The USDJPY traded in volatile back-and-forth fashion, moving up, down, back up again, and then lower into the close. The pair stalled twice near 159.08, establishing that level as a key resistance ceiling for buyers.
On the downside, support developed near 158.56–158.59, defined by the early Asian session low and the early US session low. Those levels now frame the near-term trading range. Traders will be looking for a break outside either extreme to determine the next directional move.
GBPUSD:
The GBPUSD rebounded sharply after falling to a new low in the early Asian session — the weakest level since April 8. After finding support, the pair spent most of the day grinding higher.
The latest rally, helped by easing geopolitical concerns tied to the Iran headlines, pushed the pair above the 50% midpoint of the move up from the March low at 1.3408 and also above the 200-day moving average at 1.3423. However, upside momentum stalled just ahead of the 100-hour moving average at 1.3436, where willing sellers leaned against the rally.
The pair is currently trading near 1.3428, sandwiched between the 200-day moving average below and the 100-hour moving average above. That keeps the market at an important technical crossroads heading into the new session.
USDCHF:
The USDCHF moved lower into the close and, in the process, fell back below its 100-day moving average at 0.78414. Sellers are attempting to regain control after the pair found resistance on Friday against a key swing area between 0.7869 and 0.7878.
The next near-term battle comes against the rising 100-hour moving average at 0.78365. Buyers have defended that level recently, making it an important short-term barometer for bias and momentum. If sellers can break below the 100-hour moving average, atte
For the USDCAD, NZDUSD and the AUDUSD, they all advanced vs the USD but could not extend earlier session extremes on the late afternoon USD selling.
