Key takeaways:
- Bitcoin slipped to $108,750 following Trump Media’s Bitcoin treasury announcement.
- Gold edged down to $3,306, reflecting renewed appetite for risk assets.
- U.S. equities surged, with the Nasdaq up 2.34%, on delayed tariffs and dovish expectations.
- Tech stocks rebounded, led by Tesla (+6.94%) and Nvidia (+3.21%) after days of pressure.
Markets opened on Wednesday, May 28, to a wave of political, fiscal, and crypto headlines.
During the week, the U.S. officially confirmed a delay in its planned 50% tariff hike on European imports until July 9, easing immediate trade pressure but leaving longer-term uncertainties unresolved. Meanwhile, a newly passed $3.8 trillion tax cut bill has reignited debates over debt sustainability, as fiscal risks have returned to the forefront.
On the crypto front, Trump Media & Technology Group announced a $2.5 billion capital raise to build a Bitcoin treasury, framing the move as part of a larger strategy to strengthen the U.S. role in the digital assets sector. While the news gave (BTC) a modest lift, Trump Media’s stock (DJT) sank 9.6% as markets questioned the move’s fundamentals.
Globally, Israeli airstrikes on southern Gaza overnight fueled renewed fears of regional escalation. Meanwhile, growing tension between Russia and the U.S. added to the market’s geopolitical concerns, casting a shadow over broader sentiment.
Cryptocurrency Market
Bitcoin hovered just under $109K, as weekend optimism faded into cautious profit-taking. Ethereum, Solana, and XRP followed suit, mirroring the cautious tone across the crypto market.
- Bitcoin (BTC): $108,750.00 (-0.22%)
- Ethereum (ETH): $2,630.56 (-1.26%)
- Solana (SOL): $178.03 (-1.10%)
- XRP: $2.21 (-0.43%)
Global Indices
Major U.S. markets posted gains on relief over delayed tariffs and expectations of dovish signals from the upcoming U.S. inflation print. Meanwhile, Asian and UK equities slipped, while Europe posted modest gains, led by energy and industrials.
- S&P 500: $5,921.14 (+2.00%)
- Dow Jones: $42,343.52 (+1.80%)
- Nasdaq: $19,199.03 (+2.34%)
- Nikkei 225: $37,790.00 (-0.05%)
- Euronext 100: $1,597.88 (+0.36%)
- FTSE 100: $8,739.10 (-0.34%)
Commodities
Gold slid slightly as appetite for risk improved, while oil prices held steady despite ongoing Middle East instability.
- Gold: $3,306.00 (−0.36%)
- Brent Crude: $63.10 (+0.47%)
- WTI Crude: $61.13 (+0.39%)
Tech Stocks
After a red streak, tech stocks rebounded across the board. Nvidia surged ahead of its report, while Apple recaptured momentum following tariff deferral.
- Apple (AAPL): $200.21 (+2.51%)
- Tesla (TSLA): $362.89 (+6.94%)
- Nvidia (NVDA): $135.50 (+3.21%)
- Amazon (AMZN): $206.02 (+2.45%)
- Meta (META): $642.32 (+2.42%)
- Microsoft (MSFT): $460.69 (+2.25%)
Market Wrap-Up
On May 28, sentiment turned cautiously optimistic. The delay in tariff escalation provided investors with short-term clarity, while crypto markets absorbed Trump’s bold Bitcoin move.
Equities rallied across regions, tech stocks staged a recovery, and commodities eased off recent highs. Yet with global tensions and fiscal risks still in play, Investors are urged to stay alert.
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