Morning Report 16 May 25: S&P 500 closes higher for a fourth day
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Morning Report 16 May 25: S&P 500 closes higher for a fourth day
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Wall Street delivered a mixed performance as leading technology stocks lost ground, while broader markets gained amid falling US bond yields driven by shifting Federal Reserve expectations. Retail sales growth slowed, contributing to a dip in both bond yields and the US dollar. In company news, Cisco shares rose on a positive sales forecast, while Walmart warned of impending price hikes due to Trump-era tariffs. Meanwhile, in Europe, defense stocks gained following a deadlock in Russian-Ukraine negotiations. In commodities, oil prices dropped 2% amid renewed expectations of a US-Iran nuclear deal, while gold prices climbed 1% on weak US economic data. Closer to home, Australian shares are poised to extend their winning streak to an eighth consecutive session to close out the week.
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