US equity markets experienced a downturn on Friday, closing with losses after a day of cautious trading. The Dow Jones Industrial Average finished at 34,342 points, marking a decrease of 0.3% from the previous day’s close.
The broader S&P 500 index registered a slight decline, closing just below 6,295 points, a fraction of a point lower. The Nasdaq 100 also saw a minor reduction, reaching approximately 23,065 points, down 0.1%.
Market sentiment appeared to be influenced by reports suggesting US President Donald Trump is pushing for increased tariffs in negotiations with the European Union. This potential escalation could lead to higher prices for EU-made goods for American consumers. However, tempering this concern was a notable decline in US consumer inflation expectations. According to a University of Michigan survey, consumers now anticipate a 4.4% increase in prices over the next year, a significant drop from the 6.6% expectation recorded in May.
The Euro strengthened against the US dollar, trading at $1.1624, resulting in a dollar-to-Euro exchange rate of 0.8603.
The price of gold saw a positive trend, reaching $3,350 per fine ounce, a 0.2% increase. This equates to approximately €92.66 per gram.
Conversely, crude oil prices decreased. Brent North Sea crude was valued at $69.25 per barrel late Friday, representing a decline of 27 cents, or 0.4%, compared to the previous day’s closing price.