Thursday Afternoon Coffee - Markets Update - 24 Apr 2025 - Stocks Rally as Tech Leads Surge; Dollar Slips, Gold Climbs Higher

Markets Update: U.S. stocks advanced sharply Thursday, led by a tech-driven rally and signs of labor market resilience, even as trade tensions and rate-cut speculation kept investors on edge. Meanwhile, the dollar reversed course after a two-day winning streak, and gold continued its march to new highs.

Global Markets Roundup: 24 Apr 2025

Tech Powers Broad Market Gains

The S&P 500 technology sector jumped more than 2%, outpacing all others, with Alphabet rising 1.7% ahead of its earnings release. Market optimism was fueled by fresh hopes for easing U.S.-China trade tensions after Beijing called for a full rollback of U.S. tariffs and the White House signaled potential willingness to reduce duties.

The major indexes posted strong midday gains:

Dow Jones Industrial Average: +250.81 points (+0.63%) to 39,857.38
S&P 500: +69.93 points (+1.29%) to 5,445.79
Nasdaq Composite: +304.24 points (+1.82%) to 17,012.29

Global markets followed suit, with MSCI’s global index up 0.93% and the pan-European STOXX 600 climbing 0.38%. Japan’s Nikkei added 0.5% as Tokyo prepared for new trade talks with Washington at month’s end.

Fed Uncertainty, Trump Remarks Stir Markets

Investors assessed mixed signals on monetary policy after Cleveland Fed President Beth Hammack urged patience but did not rule out a June rate cut, contingent on incoming data. Meanwhile, President Trump reversed his earlier call for Fed Chair Jerome Powell’s resignation, adding a political twist to an already tense economic backdrop.

Treasury yields eased modestly:

10-year yield: down to 4.33%
2-year yield: down to 3.807%

Dollar Retreats, Euro and Yen Gain

The U.S. dollar index dropped 0.24% to 99.55, easing against most major currencies:

Euro EURUSD: +0.37% to $1.1355
Yen USDJPY: -0.52% to 142.70

The retreat comes after two sessions of strength, as dovish rate expectations weighed on the greenback.

Gold, Oil Edge Higher

Gold rose 1.05% to $3,321.99 an ounce, driven by safe-haven demand and dollar weakness. Oil also posted modest gains as investors weighed trade risks against steady demand:

WTI Crude (CL1!): +0.32% to $62.47/barrel
Brent Crude (BRN1!): +0.21% to $66.26/barrel

Commodities Mixed; Cocoa Retreats, Soybeans Rally

Cocoa futures hovered near $8,950 per tonne, off recent highs amid technical pullbacks and rising inventories. Soybeans rose 3-3/4 cents to $10.54/bushel, hitting their highest level since February on renewed hopes for increased Japanese imports.

Corn also edged up, supported by strong export demand:

Corn (ZC1!): +3-1/2 cents to $4.82¾/bushel
Wheat (ZW1!): -3-1/2 cents to $5.40/bushel

Looking forward refer to the economic calendar below to see the upcoming events scheduled for today and the rest of the week.

General news - Information source from multiple newswires.

The article and the data is for general information use only, not advice!

The Trade Academy Team