US equity markets presented a mixed performance on Thursday, closing with varied outcomes for key indices. The Dow Jones Industrial Average reached 44,651 points by the close of trading in New York, reflecting a 0.4% increase compared to the previous day’s closing value.
The broader S&P 500 reached approximately 6,275 points, demonstrating a 0.2% gain. Conversely, the Nasdaq 100, focused on technology stocks, was recorded at around 22,829 points, experiencing a slight decrease of 0.2% at that time.
Market activity continues to be influenced by US trade policies. Copper tariffs, in particular, are prompting a surge of activity among traders, described by Jochen Stanzl, Chief Market Analyst at CMC Markets, as creating a “gold rush” mentality. Traders are reportedly expediting shipments of copper into the United States, aiming to capitalize on the situation before the tariffs take full effect. This includes rerouting shipments intended for other regions, potentially leading to an oversupply of copper in the US market while reducing availability elsewhere globally.
The Euro weakened against the US dollar on Thursday evening, trading at $1.1698, with the dollar fetching €0.8548.
Gold prices saw an upward trend, reaching $3,325 per fine ounce – a 0.3% increase, equating to €91.39 per gram.
Oil prices, however, experienced a significant decline. Brent crude, a North Sea variety, traded at $68.88 per barrel, representing a decrease of 131 cents, or 1.9%, compared to the closing price of the previous trading day.