Deutsche Bank’s Jim Reid highlights that the S&P 500 closed within half a percent of its record high, supported by a rebound in software and broader tech stocks as AI fears eased. Nvidia, the NASDAQ and the Magnificent 7 all advanced, while US IG and HY spreads tightened from year‑to‑date wides.
Brown Brothers Harriman’s (BBH) Elias Haddad notes the USD index (DXY) is trading near the middle of its 96.00–100.00 range and is expected to stay there in the near term, as it tracks rate differentials and lacks major catalysts.
The Dow Jones Industrial Average (DJIA) slid nearly 300 points, or 0.59%, pulling back to 49,351 on Thursday as a confluence of geopolitical risk, hawkish Federal Reserve (Fed) signaling, and disappointing corporate guidance weighed on sentiment.