US equities advanced on Wednesday, concluding a session of mixed signals and shifting geopolitical pressure. The Dow Jones Industrial Average closed at 34,413.11 points, marking a 0.2% increase from the previous day’s trading.
Earlier in the session, the broader S&P 500 reached approximately 5,037.85 points, registering a gain of 0.7%. The Nasdaq 100 also showed significant upward momentum, reaching around 23,178.48 points, a rise of 1.3%.
President Donald Trump announced the imposition of additional tariffs on Indian imports, escalating trade tensions. The levies, amounting to 25%, will apply to various product categories, with some facing a doubling to 50%. The stated rationale for the measure centers on India’s increasing imports of Russian oil, a situation the US government views as contributing to Russia’s financial capacity. The administration indicated it may implement similar tariffs on other nations if a ceasefire agreement isn’t reached between Russia and Ukraine within a ten-day period, commencing from July 29th.
The euro strengthened against the US dollar on Wednesday evening, trading at $1.1653, translating to €0.8581 per dollar.
Precious metals experienced a contrasting trend, with the gold price declining. The spot price for a fine ounce was $2,332.60, reflecting a decrease of 0.4%. This equated to €92.99 per gram.
Crude oil prices also experienced a notable decline. A barrel of Brent North Sea crude was priced at $80.59 at approximately 10:00 PM Central European Time, representing a drop of $1.17, or 1.4%, compared to the close of the previous trading day.