Market Snapshot for Friday 5/30/2025
- S&P 500 – 5,911.69 (-0.01%)
- Dow Jones Industrial Average – 42,270.07 (+0.13%)
- NASDAQ – 19,113.77 (-0.32%)
Market Performance
Index finishes slightly lower on the day amid China-U.S. trade tension. US stocks rebounded from early losses Friday to end a volatile but strong month. The S&P 500 logged its best May since 1990 and its best month since Nov. 2023, jumping over 6%. The Dow added 4% over the month and the Nasdaq gained nearly 10%, thanks to tech sector strength. For Friday, the Nasdaq dipped 0.3%, having recovered from a drop of more than 1.6% earlier in the session. The S&P 500 floated near the flat line while the Dow edged up 0.1%.
Asia’s markets pulled back. Japan’s benchmark Nikkei 225 declined 1.1% with investors eyeing growing inflation. In South Korea, the Kospi dropped 0.9% as markets remain rattled ahead of a presidential election in a tough political climate. Hong Kong’s Hang Seng Index sank 1.5% as China’s CSI 300 sli0.3% Australia’s S&P/ASX 200 hovered around the baseline, with a gain of less than 0.1%
Economic Takeaways –
- Inflation continued cooling in April, according to the latest readingof the Personal Consumption Expenditures (PCE) index. The “core” PCE index rose in line with expectations on a monthly and annual basis.
- “We’ll have to wait until next month to get a real sense of how tariffs are affecting the economy,” said Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. “The question isn’t whether tariffs will have an impact, it’s a question of how big that impact will be.”
- According to the final May reading of the University of Michigan consumer sentiment surveyreleased Friday, headline sentiment remained unchanged from the previous month, halting a four-month streak of sharp declines. “Expected business conditions improved after mid-month, likely a consequence of the trade policy announcement,” Joanne Hsu, director of consumer surveys at the University of Michigan, said in the release.
- A Bloomberg index that tracks bonds is down more than 1.2% in May after all maturities came under pressure. The 30-year yield rose for a third consecutive month, its longest losing streak since 2023, while yields on two- and 10-year tenors posted their first monthly increase this year.
Gold –
- Gold fell below $3,300 on a strong U.S. dollar as U.S./China trade tensions amplify.
Oil –
- Analysts have revised down their oil price forecasts for the third straight month as OPEC+ supply swells.
- A survey of 40 economists and analysts in May forecasts Brent crude will average $66.98 per barrel in 2025, down from April’s $68.98 forecast, while U.S. crude is seen at $63.35, below last month’s $65.08 estimate. Prices have averaged roughly $71.08 and $67.56 so far this year respectively, as per LSEG data.
Bitcoin –
- Bitcoin fell below $104,000.
China Trade Tension Wraps Up May
The Trump administration is reportedly planning to broaden its tech restrictions on China by closing loopholes that have allowed sanctioned firms to sidestep existing rules. According to a Bloomberg report on Friday, the new proposal would require U.S. government approval for any transactions involving companies that are majority-owned by entities already on the government’s Entity List.
The report follows recent remarks from former President Trump, who criticized China in a Truth Social post, accusing the country of violating its trade agreement with the U.S. This comes less than three weeks after both nations appeared to ease tensions by reaching a temporary truce on tariffs.
Top Gainers
Several stocks experienced significant gains. Some of the top gainers included:
- Regencell Biosciences (RGC) soared 18.36%
- Pony AI, Inc. (PONY) soared by 12.30%
- Ulta Beauty, Inc. (ULTA) exploded 11.78%
- MP Materials Corp. (MP) surged 10.22%
- Zscaler, Inc. (ZS) rose 9.79%
- Unity Software, Inc. (U) moved up 9.72%
- GATX Corp. (GATX) jumped 8.72%
- BRP, Inc. (DOOO) spiked 8.51%
- NextDecade Corp. (NEXT) moved up 7.95%
- Hims & Hers Health, Inc. (HIMS) surged 7.94%
Top Losers
The top US stock losers today, based on percentage change included:
- Summit Therapeutics, Inc. (SMMT) moved lower 30.50%
- The Gap, Inc. (GAP) moved lower 20.18%
- Regeneron Pharmaceuticals (REGN) sank 19.01%
- Ambarella, Inc. (AMBA) fell 15.10%
- The Cooper Companies (COO) moved down 14.61%
- Elastic N.V. (ESTC) moved lower 12.13%
- EchoStar Corp. (SATS) sank 12.10%
- Bitdeer Technologies Group (BTDR) dragged 10.13%
- Joby Aviation, Inc. (JOBY) moved down 8.22%
- Rigetti Computing, Inc. (RGTI) slumped 7.91%
Notables
- Nvidia (NVDA) shares fell 3.5% Friday afternoon as the Trump administration indicated the US-China trade war may be far from over.
- Other chip makers followed suite including AMD (AMD), Micron (MU), and Intel (INTC).
- Tesla (TSLA) shares went higher as CEO Elon Musk was expected to leave his White House job on Friday. The New York Timesreported Friday morning that Musk allegedly abused both illicit and pharmaceutical drugs “far more intensely than previously known” while on the campaign trail for Trump.
- Regeneron (REGN) shares fell more than 18% in early trading after the company’s experimental drug for smoker’s lung failed a late-stage trial.
- Costco (COST) stock was roughly flat in premarket trading after the company reported mixed earnings on Thursday. On its earnings call, CEO Ron Vachris said Costco maintained its “competitive price position” by working with suppliers to lower prices on key items like eggs, butter, and olive oil.
- Gap (GAP) dropped over 14% despite the retailer posting better-than-expected sales and profit in its first quarter results late on Thursday.
- Shares in media group Newsmax (NMAX) dropped 10.4% after hours Thursday resulting in a drop of over 75% since the company went public in March.
- Ulta Beauty (ULTA) stock jumped up 8.3% in extended trading after the company beat analyst expectations for Q1.
What to Watch Next Week
June 2: May ISM Manufacturing PMI®, April construction spending, and expected earnings from The Campbell’s Company (CPB).
June 3: April factory orders, April Job Openings and Labor Turnover Survey (JOLTS), and expected earnings from Dollar General (DG), CrowdStrike (CRWD), and Hewlett Packard Enterprise (HPE).
June 4: May ISM Services PMI® and expected earnings from Dollar Tree (DLTR).
June 5: ECB rate decision and expected earnings from Broadcom (AVGO), Ciena (CIEN), lululemon (LULU), and Petco (WOOF).
June 6: May Nonfarm payrolls.Also tomorrow will be the University of Michigan final consumer sentiment reading for May. The average analyst estimate of 50.8 is unchanged from the preliminary May reading. This was one of the lowest in history.
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