US markets opened on a mixed note Thursday morning as investors closely monitored ongoing signals about global trade negotiations, particularly between the United States and China.Lingering uncertainty around tariff talks, paired with cautious sentiment from key officials, continued to shape investor behaviour across asset classes.
As of 9:42 AM GMT-4, US stock markets showed a mixed performance with investors closely monitoring the status of trade talks between the United States and China. The S&P 500 was up 15.05 points, or 0.28%, at 5,390.91, reflecting cautious optimism in the broader market.
The Dow Jones Industrial Average fell 100.3 points, or 0.25%, to 39,506.27 as of the same time, dragged lower by weakness in industrial and financial stocks, which are more exposed to global trade tensions. In contrast, the Nasdaq rose 107.29 points, or 0.64%, to 16,815.34, lifted by gains in large-cap tech names.
Gold climbed $41.10, or 1.25%, to $3,335.20, while oil prices also advanced, with West Texas Intermediate crude up $0.58, or 0.93%, at $62.85 per barrel. The yield on the 10-year US Treasury note dropped 5.1 basis points to 4.336%, reflecting a shift toward safer assets.
In currency markets, the euro traded at $1.137, up 0.006 or 0.522% against the US dollar as of the latest reading. The VIX, Wall Street’s fear gauge, declined 0.92 points, or 3.23%, to 27.53.
Meanwhile, Stock markets mostly fell on Thursday after China dismissed US President Donald Trump‘s upbeat comments about progress in trade negotiations, casting doubt on the prospects of a deal to end the ongoing US-China trade war.
Markets had rallied the previous day when Trump suggested that tariffs on Chinese goods could be significantly reduced and that a “fair deal” with Beijing was within reach.
However, China on Thursday stated that claims of active trade talks with Washington were “groundless,” dampening investor optimism.
US Treasury Secretary Scott Bessent added to the uncertainty, saying that the two countries were “not yet” discussing the lowering of tariffs.
“The investing world went back to clinging to every word from the White House, but with such a confusing and often contradictory stance on tariffs, volatility was all that could really be expected,” said Matt Britzman, senior equity analyst at Hargreaves Lansdown.
European stock markets fell as investors also focused on a series of corporate earnings reports for clues about how tariffs might affect business outlooks moving forward.
“Comments about tariffs from business leaders were everywhere, and investors were eager to see how companies planned to manage potential cost pressures,” said Russ Mould, investment director at AJ Bell.
Amid the uncertainty, the US dollar weakened, as investors turned to traditional safe-haven assets like the Swiss franc, the yen, and gold.
In Asia, Tokyo’s Nikkei 225 closed 0.5 percent higher, while Shanghai ended the day flat and Hong Kong’s Hang Seng Index dropped nearly one percent.
Bessent also addressed US-Japan trade talks, stating that there were “absolutely no currency targets,” despite Trump’s previous remarks expressing a desire for a stronger yen.
Seoul’s stock market declined after South Korea’s economy unexpectedly contracted by 0.1 percent in the first quarter of 2025.
On Wall Street, the S&P 500 had closed 1.7 percent higher on Wednesday, reflecting previous optimism.
In corporate news, Japanese automaker Nissan issued a stark profit warning, adding to investor concerns. Conversely, Nintendo shares surged as much as 5.5 percent following stronger-than-expected pre-order demand in Japan for its upcoming Switch 2 console.
French software company Dassault Systèmes saw its shares drop around seven percent in Paris after reporting a decline in net profit and revising its 2025 operating margin forecast downward.
Luxury group Kering fell roughly four percent in Paris as its Gucci brand continued to experience a sales slump.
Carmaker Renault, also based in Paris, rose around two percent after announcing further cost-cutting plans in response to US tariffs and reporting a slight increase in sales volumes.
In Frankfurt, German sportswear maker Adidas jumped about three percent as its first-quarter profit nearly doubled, surpassing market expectations.
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