US stocks end flat, Dow Jones sole gainer

US stocks ended May 19 trading mostly flat after a volatile session, following Moody’s downgraded the credit rating for the world’s largest economy and concerns over a potential collapse of the trade truce between the US and China.

The Dow Jones Industrial Average rose by 0.32%, or 137 points, to close at 42,791 points.

Meanwhile, the broader S&P 500 index held steady at 5,963 points, as did the Nasdaq Composite at 19,215 points.

Wall Street came under pressure during the session as yields on long-term US government debt rose above 5%, following Moody’s downgrade of the US credit rating over the weekend due to worsening debt levels.

The STOXX Europe 600 index edged up 0.15% to 549.98 points, extending its year-to-date gains to 8.35%.

Germany’s DAX rose 0.7% to a new record high of 23,934 points, while France’s CAC 40 remained flat at 7,883 points. The UK’s FTSE 100 gained 0.15% to close at 8,699 points.

Japan’s Nikkei 225 index declined by 0.7% to 37,498 points, while the broader Topix index fell by around 0.1% to 2,738 points.

In commodities, Brent crude futures for July delivery rose by 0.20%, or 13 cents, to $65.54 per barrel.

US West Texas Intermediate (WTI) crude futures for June delivery — which expire on May 20 — increased by 0.32%, or 20 cents, to $62.69 per barrel.

June futures for gold jumped 1.5%, or $46.3, to settle at $3,233.50 per ounce.

Today’s trading saw increased demand for safe-haven assets amid mounting concerns over the US economic outlook. This came alongside China’s accusations that the US is undermining the trade truce reached just a week ago, after Washington warned global companies against using Huawei's AI chips.