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Investment Daily: US stocks edged higher as oil prices declined

28 May 2026

Key takeaways

  • US stocks and Treasuries were little changed.
  • European stocks and government bonds were range-bound.
  • Asian stocks traded mixed.

Markets

US stocks edged higher on Wednesday, as oil prices fell. The S&P 500 ended little changed at its record high.

US Treasuries traded sideways, with 10-year yields closing little changed at 4.48%.

European stocks closed little changed on Wednesday, as investors monitored ongoing geopolitical developments in the Middle East. The Euro Stoxx 50 edged up 0.1% while the German DAX ended flat. The French CAC rose 0.4%. In the UK, the FTSE 100 gained 0.1%.

European government bonds were mostly range-bound. 10-year German and French bond yields both edged up 1bp to 2.99% and 3.60%, respectively. In the UK, 10-year gilt yields closed at 4.86% (-1bp).

Asian stock markets traded mixed on Wednesday. Korea’s Kospi advanced 2.3% as chipmaker shares rallied on continued AI optimism, while Japan’s Nikkei 225 closed little changed. Elsewhere, China’s Shanghai Composite and Hong Kong’s Hang Seng fell 1.2% and 1.1% respectively. India’s Sensex edged 0.2% lower.

Crude oil prices declined on Wednesday. WTI crude for July delivery settled 5.6% lower at USD88.7 a barrel. 

Key Data Releases and Events

Releases yesterday

The Reserve Bank of New Zealand kept its policy rate unchanged at 2.25% in a split decision. The central bank raised its inflation forecast notably with its forward guidance pointing to rate hikes at coming meetings.

Releases due today (28 May 2026)

In the US, headline PCE inflation likely rose on higher energy prices while the core measure is also expected to remain above 3.0% yoy. Little revision is expected in Q1 GDP. Growth has been solid but dependent on AI-related spending.

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