U.S. Market Close Report - 2026-05-04

U.S. Market Close Report - 2026-05-04

On May 4, 2026, U.S. financial markets experienced notable volatility, influenced by geopolitical developments and shifts in the Treasury yield curve. The inversion of the 10-year and 2-year Treasury yields, coupled with escalating tensions in the Middle East, contributed to market fluctuations across various asset classes.

U.S. Indices

Major U.S. stock indices closed lower:

• S&P 500 ETF (SPY): $718.01, down 0.37%
• Nasdaq 100 ETF (QQQ): $672.88, down 0.19%
• Dow Jones ETF (DIA): $489.56, down 1.10%
• Russell 2000 ETF (IWM): $277.88, down 0.50%
• Total Market ETF (VTI): $353.98, down 0.37%

The Dow Jones Industrial Average declined by 557.37 points (1.1%) to 48,941.90, and the S&P 500 fell 29.37 points (0.4%) to 7,200.75. The Nasdaq Composite decreased by 46.64 points (0.2%) to 25,067.80. (wtop.com)

Top Movers

Top Gainers:

• Micron Technology (MU): $576.45, up 6.31%
• Oracle Corporation (ORCL): $180.29, up 4.92%
• Take-Two Interactive (TTWO): $225.18, up 4.24%
• Fortinet (FTNT): $89.24, up 3.42%
• Pinterest (PINS): $20.85, up 3.12%

Top Losers:

• Advanced Micro Devices (AMD): $341.54, down 5.27%
• Qualcomm (QCOM): $168.38, down 4.88%
• Lennar Corporation (LEN): $84.36, down 4.62%
• McCormick & Company (MKC): $48.02, down 4.42%
• D.R. Horton (DHI): $143.53, down 4.30%

Global Markets

Europe:

• FTSE 100 (UK): 10,363.90, down 0.14%
• DAX (Germany): 23,991.27, down 1.24%
• CAC 40 (France): 7,976.12, down 1.71%
• Euro Stoxx 50: 5,763.61, down 2.00%

Asia:

• Nikkei 225 (Japan): 59,513.12, up 0.38%
• Shanghai Composite (China): 4,112.16, up 0.11%

Canada:

• TSX Composite: 33,638.87, down 0.74%

Commodities

• WTI Crude Oil: $105.14, up 3.14%
• Brent Crude Oil: $113.76, up 5.17%
• Natural Gas: $2.86, up 2.73%
• Gold: $4,532.40, down 2.11%
• Silver: $73.16, down 3.67%
• Platinum: $1,955.90, down 2.04%
• Copper: $5.86, down 1.22%

Money Market / Rates Curve

• Fed Funds Rate: 3.64%
• SOFR (Overnight): 3.64%
• 1-Month T-Bill: 3.71%
• 3-Month T-Bill: 3.68%
• 6-Month T-Bill: 3.71%
• 1-Year Treasury: 3.73%

The inversion of the 10-year and 2-year Treasury yields, with the 10-year yield at 4.39% and the 2-year yield at 3.88%, indicates a potential economic slowdown. This inversion has historically been a precursor to recessions, as it suggests that investors expect weaker economic growth in the future. (financialcontent.com)

Macro and FX

• VIX (Volatility Index): 16.99
• 10-Year Treasury Yield: 4.39%
• 2-Year Treasury Yield: 3.88%
• 10Y-2Y Spread: 0.51 percentage points
• DXY (Dollar Index): 98.46

Crypto

• Bitcoin (BTC-USD): $80,329.65, up 2.28%
• Ethereum (ETH-USD): $