Weekly Market Update: May 13–19, 2025

Markets Show Resilience Amid Trade Tensions

U.S. stock markets displayed resilience this week, with the S&P 500 closing at 5,614.18 on May 19, up from 5,528.75 on May 13. The Dow Jones Industrial Average ended at 42,654.74, rising from 42,507.33, while the Nasdaq Composite closed at 19,207.22, up from 19,065.96. ¹ 

These gains occurred despite renewed U.S.-China trade tensions. On May 13, the U.S. Department of Commerce issued a directive targeting Huawei’s Ascend chips, alleging they were developed using U.S. technology without authorization. China criticized this move, stating it violated the spirit of the recent trade agreement and undermined progress made during discussions. ² 

Bond Yields and Commodities

The yield on the 10-year U.S. Treasury note fluctuated during the week, starting at 4.49% on May 13 and ending at 4.46% on May 19. ³ 

In commodities:

• Gold: Prices experienced volatility, closing at $3,222.54 per ounce on May 19, down from $3,250.22 on May 13.  ⁴

• Oil (WTI): Prices remained relatively stable, with WTI crude closing at $62.22 per barrel on May 19, compared to $63.25 on May 13. ⁵ 

Currency Movements

• USD/EUR: The U.S. dollar weakened slightly against the euro, with the exchange rate moving from 0.8977 on May 13 to 0.8904 on May 19.

• USD/JPY: The dollar strengthened against the yen, moving from 145.2980 on May 13 to 145.3390 on May 19.  ⁶

• USD/CNY: The dollar remained stable against the Chinese yuan, with the exchange rate at 7.2095 on May 19, unchanged from earlier in the week. ⁷ 

Economic Indicators

U.S. consumer inflation data released on May 13 indicated a modest increase, with the Consumer Price Index (CPI) rising 0.3% in April. This was slightly below expectations and suggested that inflation pressures might be easing.

Retail giant Walmart announced plans to raise prices on various products due to the ongoing tariffs on Chinese imports. Despite a temporary reduction in tariffs, the company stated that the financial burden remains significant, leading to anticipated price increases starting at the end of May. ⁸ 

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Investor Takeaway

Markets demonstrated strength this week, buoyed by easing inflation data and resilience in the face of renewed trade tensions. However, the situation remains fluid, with geopolitical developments and corporate responses to tariffs likely to influence market dynamics in the coming weeks.

1.  https://finance.yahoo.com/quote/%5EIXIC/history/?utm_source ↩︎
2.  https://www.wsj.com/livecoverage/stock-market-today-tariffs-trade-war-05-19-2025/card/beijing-says-u-s-huawei-comments-undermine-recent-trade-talks-gVyWjx9dZ27Mg6V3iqzj?utm_source ↩︎
3.  https://ycharts.com/indicators/10_year_treasury_rate?utm_source ↩︎
4.  https://www.usagold.com/daily-gold-price-history/?utm_source ↩︎
5.  https://www.investing.com/commodities/crude-oil-historical-data?utm_source ↩︎
6.  https://finance.yahoo.com/quote/JPY%3DX/history/?utm ↩︎
7.  https://finance.yahoo.com/quote/CNY%3DX/history/ ↩︎
8.  https://www.allrecipes.com/walmart-plans-to-raise-prices-due-to-tariffs-11737625 ↩︎