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- Stock Market Today 19 May 2025
- Dow set for 300-point drop tonight as S&P 500, Nasdaq called lower after Moody’s downgrade; Treasury yields rise, gold jumps.
- A rise in Treasury yield means interest rate will not go lower, which is bad for stocks.
- Most Asian stocks fell on Monday as a U.S. rating downgrade and mixed economic prints from China kept investors on edge over slowing growth in the world’s largest economies.
- The US Dollar Index, which measures the greenback against a basket of major currencies, fell 0.3%. This follows global ratings agency Moody’s downgrading its investment grade rating on the U.S. by a notch over the country’s growing $36 trillion debt, citing concerns over stretched government debt and a lack of clear measures to address the issue.
- The U.S. dollar dipped to a one-week low versus the safe-haven yen on Monday as markets digested a surprise downgrade of the U.S. government’s credit rating and as trade friction concerns weighed on sentiment.
- Gold prices rose to $3217 on Monday, buoyed by renewed safe haven demand after Moody’s downgraded the U.S. credit rating on concerns over fiscal health, sparking risk aversion across global markets. Mixed Chinese economic data also weighed, as it highlighted the impact of a bitter trade war with the U.S. on consumer and business spending.
- Gold ETF GLD may have made a Double Bottoms chart pattern on the 30min chart. Above $299 would be a confirm breakout for $306. Another ETF IAU is also showing a similar pattern. Above $60.95 confirms a breakout for $63.
- Oil prices slipped on Monday, weighed down by Moody’s downgrade of the U.S. sovereign credit rating and official data that showed a slowdown in the pace of China’s industrial output and retail sales. Brent was $64.90 while WTI was $62.05, down 51 and 45 cents respectively.
