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24 April 2026

US stocks ended a volatile session modestly lower on Thursday amid lingering concerns about a potential re-escalation of the Middle East conflict. The S&P 500 lost 0.4%.

US Treasuries edged lower amid higher oil prices. 10-year yields ended up 2bp at 4.32%.

European stocks were modestly lower as geopolitical tensions continued in the Middle East. The Euro Stoxx 50 lost 0.2%. The German DAX decreased 0.2% while the French CAC rose 0.9%. In the UK, the FTSE 100 closed 0.2% lower.

European government bonds were little changed. 10-year German bund yields were range-bound at 3.01% and 10-year French bond yields stayed at 3.66%. In the UK, 10-year gilt yield rose 3bp to 4.94%.

Asian stock markets traded mostly lower on Thursday as higher oil prices and lingering geopolitical uncertainties weighed on sentiment. Japan’s Nikkei 225 declined 0.7%, while Chinese equities also slid, with the Shanghai Composite and Hong Kong’s Hang Seng down 0.3% and 0.9%, respectively. Bucking the regional trend, Korea’s Kospi extended recent rallies, gaining 0.9% on upbeat results from a semiconductor heavyweight. Elsewhere, India’s Sensex fell 1.1%.

Crude oil prices rose on Thursday. WTI for June settled 3.1% higher at USD95.9 a barrel.

In the US, the composite PMI showed a recovery in April, rising to 52.0 from 50.3 in March, indicating renewed expansion, driven by strong manufacturing output, even as the service sector employment remained weak.

The Eurozone’s composite PMI activity fell to 48.6 in April, dropping from 50.7 in March and falling into contraction territory for the first time in 16 months.

In Japan, CPI rose 1.5% yoy in March, slightly above market consensus, as higher energy prices are expected to continue putting upward pressure on inflation.