anthitnguoigay
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Market Summary: US stocks fall after bull run; Fed's interest rate decision in the spotlight
U.S. stocks fell on May 5 after a nine-day rally. The S&P 500 fell 0.6%, the Nasdaq fell 0.7% and the Dow fell 0.2% as markets reacted to fresh trade tensions and falling oil prices. President Trump's new 100% tariffs on foreign-made films have affected media stocks such as Netflix and Amazon. Meanwhile, OPEC+ announced a production increase in June, pushing crude prices to a four-year low of $57.13, dragging down energy stocks such as Exxon.
Attention is now turning to the Federal Reserve's policy meeting. While interest rates are expected to remain stable, market forecasts differ on the likelihood of a rate cut by the end of 2025. Strong employment data and inflation concerns from tariffs facilitate a pause by the Fed. In corporate news, Berkshire Hathaway fell 5.1% after Warren Buffett's retirement announcement, while Skechers jumped 24.3% after the $9 billion buyback deal.
U.S. stocks fell on May 5 after a nine-day rally. The S&P 500 fell 0.6%, the Nasdaq fell 0.7% and the Dow fell 0.2% as markets reacted to fresh trade tensions and falling oil prices. President Trump's new 100% tariffs on foreign-made films have affected media stocks such as Netflix and Amazon. Meanwhile, OPEC+ announced a production increase in June, pushing crude prices to a four-year low of $57.13, dragging down energy stocks such as Exxon.
Attention is now turning to the Federal Reserve's policy meeting. While interest rates are expected to remain stable, market forecasts differ on the likelihood of a rate cut by the end of 2025. Strong employment data and inflation concerns from tariffs facilitate a pause by the Fed. In corporate news, Berkshire Hathaway fell 5.1% after Warren Buffett's retirement announcement, while Skechers jumped 24.3% after the $9 billion buyback deal.
