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ADDX GO Market Morning Wrap - 27th May

Go Wire
Go Wire
May 26, 2025
GoGPT Summarizes Articles

Stock Market

Affected by the Memorial Day holiday, the US stock market was closed for one day on Monday.

 

As Trump agreed to postpone the imposition of tariffs on the EU until July 9th, major European stock indices closed higher. The German DAX 30 index rose by 1.68%, the French CAC 40 index increased by 1.21%, and the Euro Stoxx 50 index rose by 1.3%.

 

This extension of the tariff deadline came after Trump unexpectedly threatened to impose a 50% tariff on the EU last Friday morning. The proposed 50% tariff caught European officials off-guard. They had thought they were making progress in negotiations with the Trump administration to avoid reciprocal tariffs.

 

In Asian markets, India's Sensex and NIFTY 50 recorded increases of 0.56% and 0.60% respectively, while Japan's Nikkei 225 rose by 1.00%. Malaysia's KLCI declined slightly by 0.07%, Singapore's STI fell by 0.18%, Indonesia's IDX Composite dropped by 0.36%, and Hong Kong's HSI suffered a relatively large decline of 1.35%.

Global Hotspots

  • Iranian Foreign Ministry Spokesperson: Uranium Enrichment Non-Negotiable, Must Be Retained. On May 26, Nasser Kanaani, Spokesperson of the Iranian Foreign Ministry, reiterated that Iran would unconditionally preserve its uranium enrichment activities and refuse any compromise on the issue. "Uranium enrichment is an inalienable component of Iran’s peaceful nuclear energy program and nuclear industry, and its continuation is non-negotiable," he stated.

  • Iran’s Supreme Leader Meets Pakistani PM to Discuss Enhanced Cooperation. During a meeting on May 26 with visiting Pakistani Prime Minister Shehbaz Sharif, Iran’s Supreme Leader Ayatollah Ali Khamenei emphasized the need for joint and effective measures by Tehran and Islamabad to end Israel’s "crimes in the Gaza Strip." The leaders discussed deepening collaboration in trade, security, and regional stability.

  • Putin: Foreign Firms’ Return to Russia Must Serve National Interests. Russian President Vladimir Putin stated that any return of foreign companies to the Russian market must align with Russia’s strategic interests. He pledged to work with domestic entrepreneurs to draft a framework for evaluating potential returns of Western businesses, emphasizing that decisions would prioritize long-term economic sovereignty.

Company News

  • After Inflating Revenues, US Prosecutors Demand Financial Reports from Builder.ai. US prosecutors are seeking financial data from Builder.ai following allegations of inflated sales figures. Before the company’s bankruptcy filing, authorities demanded the release of financial statements and other documents, signaling a formal legal investigation into its accounting practices.
  • Singapore Telecommunications Launches $2 Billion Share Buyback as Part of Capital Plan. Singapore Telecommunications Limited (Singtel) announced a share buyback program worth up to $2 billion as part of its ongoing capital management strategy. The program will be implemented over three years.
  • California Considers Suing US Government over Apple Phone Tariffs. On May 23rd, US President Trump threatened that Apple phones manufactured abroad and sold in the US should face at least a 25% tariff. In response to Trump's threat, Rob Bonta, Attorney General of California, where Apple's headquarters are located, said that he is ready to sue the US government to protect California-based companies like Apple.

Forex & Commodities

COMEX gold futures fell by 0.70%, closing at $3,342.2 per ounce; COMEX silver futures rose by 0.11%, closing at $33.64 per ounce.
 
WTI crude oil futures closed flat at $61.53 per barrel; Brent crude oil futures closed at $64.18 per barrel, down by 0.05%.
 
The US dollar index fell by 0.15% to 98.98, and most non-US currencies rose.

Key Events

  • ECB President: Dominance of US Dollar Becoming Uncertain. On the 26th, Christine Lagarde, President of the European Central Bank (ECB), delivered a speech at a forum in Berlin. Lagarde said that the current international monetary system based on the US dollar is becoming uncertain, and Europe needs to implement reforms in various aspects to reduce its exposure to changes in the international order. 
  • South Africa Proposes Buying US Liquefied Natural Gas to Secure Trade Deal. According to a ministerial statement released on the website of South Africa's government news agency, South Africa has proposed purchasing US liquefied natural gas (LNG) over a 10-year period as part of a proposal to secure a trade deal.

Cryptocurrency

As of the time of publication, the price of Bitcoin (BTC) was $109,324.53, with a 24-hour increase of +0.275%.
 
Ethereum (ETH) was $2,559.49,  increase of +0.482%;
 
Ripple (XRP) was $2.31,  decrease of -1.3%; Binance Coin (BNB) was $672.89,  increase of +0.44%;
 
Solana (SOL) was $174.54,  decrease of -0.086%; Dogecoin (DOGE) was $0.22557,  increase of +0.512%.

Key Events

  • Trump Media Group Reportedly Plans to Raise $3 Billion to Buy Cryptocurrencies like Bitcoin. According to media reports, Trump's media group plans to raise $3 billion to buy cryptocurrencies such as Bitcoin, betting on these digital assets supported by the US President. According to several informed sources, the Trump Media & Technology Group (TMTG), majority-owned by the Trump family and also known as DJT by investors, plans to raise $2 billion through a new share offering and an additional $1 billion through convertible bonds. However, the specific financing terms and scale may still be subject to change. This plan is the latest example of the Trump family's foray into the cryptocurrency space.

Market Events and Most Anticipated Earnings Releases

#Market Morning Wrap