Digest | 5 May 2025
- Edward von der Schmidt
- May 5
- 4 min read
US equity momentum faded amid trade uncertainty and a pre-FOMC calm as the S&P 500 abandoned a nine-session winning streak that had put it back above Liberation Day levels. Dollar weakness pervaded though benchmark Treasury rates edged higher. Oil declined as OPEC+ voted in favor of output hikes in June. Trade deal announcements were lacking though new tariffs were put forward on foreign films. Tensions in Kashmir remained while Israel planned to expand its occupation of Gaza.