Failed to close a ten -day series profit The S&P 500 on Monday (05.05.2025), as its investors Wall Street They were watching the latest developments in world trade.
Wall Street’s wide indicator began the meeting with a nine -day profit, the largest since 2004, expecting the 10th consecutive rise, which would be its largest profits since a 12 -day 1995.
Nevertheless, Dow Jones fell 0.24%, the S&P 500 lost 0.62%, while Nasdaq slipped 0.74%.
At the lowest, Dow fell up to 253.99 points, while the S&P 500 and Nasdaq lost about 1% each before they recovered partially.
The key indicators reduced losses after Monday’s data from the Institute for Supply Management that reflected stronger than expected service in the field of service in April, even when companies’ executives reported increasing concern for tariffs.
The climate also improved after Bloomberg reported, citing sources, that India has proposed zero duties on steel, car accessories and medicinal products on a mutual basis and up to a certain amount of imports.
However, investors remain uncertain about the timetable of duties between the US and other countries.
Finance Minister Scott Bessed told CNBC on Monday that “we are very close to some agreements”, reflecting Trump’s comments on Sunday that the agreements could already come this week.
Trump told reporters on Sunday that “we are negotiating with many countries, but in the end I will define my own agreements – because I define the agreement, they do not set the agreement.” Trump added that he had no plans to speak with Chinese President Xi Jing, denying the hopes that progress is being made to alleviate trade tensions between the US and China.
Trump also authorized the competent government agencies on Sunday to start imposing a 100% duty on films produced abroad, characterizing the efforts of other countries to attract filmmaking “Threat to National Security”. It remains unclear whether duties will affect the films shown in cinemas or films in streaming services.
Wall Street is looking forward to a two -day policy meeting of the US Federal Bank, which begins on Tuesday, and the interest rate decision is expected on Wednesday. The Fed time contract negotiating shows just a 3.2% chance of paying interest rates, according to CME Group’s Fedwatch tool. However, traders are closely watching any comment from the Central Bank or Fed President Jerome Powell on the prospects of the economy amid increased uncertainty resulting from the trade war.