US equity markets rallied on Wednesday, driven by reports suggesting a potential trade agreement between the United States and the European Union. The Dow Jones Industrial Average closed at 45,010 points, marking a gain of 1.1% compared to the previous trading day.
Shortly before the market close in New York, the broader S&P 500 was calculated at approximately 6,360 points, up 0.8%, while the Nasdaq 100 stood at around 23,160 points, gaining 0.4%.
The anticipated easing of import tariffs on EU products, potentially reducing rates from 30% to 15% as of August, appears to be a primary factor behind the positive market sentiment. Reports indicated that an official announcement regarding this agreement may be forthcoming. German Chancellor Friedrich Merz (CDU) publicly stated he had also heard indications of reaching agreements in this space.
The euro strengthened against the US dollar, trading at $1.1774, with one dollar equivalent to €0.8493.
Gold prices retreated noticeably, with the spot price for a fine ounce reaching $3,390, representing a decrease of 1.1%. This translates to €92.57 per gram.
Conversely, crude oil prices rose. A barrel of Brent North Sea crude was valued at $68.74 as of approximately 10:00 PM Central European Time, a 15-cent or 0.2% increase compared to the previous day’s close.