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ForexMedium•5 May 2026•

1 min read

US Dollar Weakens as S&P 500 and NASDAQ Hit Record Highs Amid Mixed Data

Key Facts

1The S&P 500 and NASDAQ indices closed at record high levels amid a persistent risk-on tone.

2ISM non-manufacturing PMI came in at 53.6, slightly missing the 53.7 estimate.

3US 10-year yields fell by 2 basis points to 4.426%.

Version History

1 additional source confirmed this story

US equity markets reached new milestones as the S&P 500 and NASDAQ closed at record highs, fueled by a persistent risk-on sentiment among investors. This optimism weighed on the US Dollar, which traded lower against major currencies while the 10-year Treasury yield retreated to 4.426%. Economic indicators presented a mixed picture, with the ISM non-manufacturing PMI missing estimates slightly at 53.6. Despite solid JOLTs job openings and strong corporate earnings, particularly from the tech sector, signs of softening demand in services created a complex backdrop. Market participants remain focused on the Federal Reserve's next move as they weigh headline growth against persistent inflationary pressures. The current market dynamics suggest a delicate balance between robust corporate performance and evolving expectations for monetary policy.