US stocks end flat, Treasury yields ease

Most US equities ended flat on Thursday, May 22, as the long-term Treasury yields eased off their highest level since October 2023, as investors tried to overcome concerns about increased debts, especially after the US House of Representatives passed President Donald Trump's tax and spending bill.

The Dow Jones Industrial Average remained unchanged at 41,859 points. The index gained 6.51% in the last 30 days.

The S&P 500 was steady at 5, 842 points, while the Nasdaq Composite added 0.28%, or 53 points, to settle at 18,925.

The 30-year Treasury yield fell by 3.8 basis points to 5.05% at 11:07 pm KSA time, after rising earlier to 5.14% - the highest level since October 2023.

In Europe, the Stoxx Europe 600 index inched down 0.656% to 550 points, extending losses for the second straight session.

Germany’s DAX closed 0.50% lower at 23,999 points, while France’s CAC 40 slipped 0.60% to 7,864 points. Similarly, the UK’s FTSE 100 edged down nearly 0.55% to 8,739 points.

Japan’s Nikkei 225 fell 0.85% to 36,985 points – the lowest close since May 8. The broader Topix index eased about 0.60% to 2,717 points.

In the oil market, Brent crude futures for July delivery fell by 0.72%, or 47 cents, to $64.44 per barrel.

US West Texas Intermediate (WTI) crude futures for July delivery lost 0.60%, or 37 cents, settling at $61.20 per barrel.

As for gold, futures for the yellow metal for June delivery declined by 0.56%, or $18.50, to $3,295 per ounce.

A survey conducted by S&P Global showed that the pace of business activity growth in the US accelerated in May, but prices rose due to the impact of tariffs.

Meanwhile, official data indicated that initial jobless claims fell by 2,000 to 227,000 for the week ended May 17, contrary to expectations of an increase to 230,000.