Stock Market Update Friday May 9, 2025

Stock Market Update Friday May 9, 2025 Markets Meander as Volume Dries Up, Traders Stay on the Sidelines U.S. equities ended the session virtually unchanged in a lethargic day of trade, marked by the lowest turnover on the SPDR S&P 500 ETF Trust (SPY) since February. The S&P 500 (SPX) has drifted in a tight 2% range this week, finishing flat versus last Friday despite a trifecta of catalysts — earnings releases, the latest FOMC policy decision, and a headline trade agreement. The market appears to be in a consolidation phase, with investors adopting a wait-and-see approach amid macro uncertainty.

Index Performance:

• S&P 500 (SPX): -0.1%

• Nasdaq-100 (QQQ): Unchanged

• Russell 2000 (IWM): -0.2%

Away From Stocks: Fixed Income & Commodities:In fixed income, U.S. Treasuries remained mostly rangebound. The 2-year yield ticked down modestly to 3.88% from 3.90%, reflecting a slight bid for short-dated government paper amid muted risk appetite. The long end of the curve held steady. Commodities showed more directional conviction. WTI crude remained buoyant, holding the $61 handle, while gold rebounded to $3,229 per ounce, suggesting some safe-haven interest. Digital Assets & Volatility:Bitcoin extended its parabolic ascent, surging to $103,300, further widening the divergence between traditional and digital assets. Meanwhile, implied volatility eased, with the VIX sliding below 22 for the first time since Thursday April 2, signaling a calm — if cautious — market environment.

Next Week Upcoming Economic Data Highlights:

May 13 (Monday):

• 6:00 AM ET – NFIB Small Business Optimism Index (Apr)

  • Consensus: 94.7 | Prior: 97.4

• 8:30 AM ET – Consumer Price Index (CPI) m/m (Apr)

  • Consensus: +0.3% | Prior: -0.1%

• 8:30 AM ET – Core CPI m/m (ex-Food & Energy) (Apr)

  • Consensus: +0.3% | Prior: +0.1%

• 8:30 AM ET – CPI y/y (Apr)

  • Consensus: +2.4% | Prior: +2.4%

• 8:30 AM ET – Core CPI y/y (Apr)

  • Consensus: +2.8% | Prior: +2.8%

May 15 (Wednesday):

• 8:30 AM ET – Producer Price Index (PPI) m/m (Apr)

  • Consensus: +0.3% | Prior: -0.4%

• 8:30 AM ET – Core PPI m/m (ex-Food & Energy) (Apr)

  • Consensus: +0.3% | Prior: -0.1%

• 8:30 AM ET – Retail Sales m/m (Apr)

  • Consensus: 0.0% | Prior: +1.5%

• 10:00 AM ET – NAHB Housing Market Index (May)

  • Consensus: n/a | Prior: 40.0

S&P500 SPY ETF Daily Chart