Stock Market News Today, 5/22/25 – Futures Flat Post Deficit Fears-Driven Sell-Off

U.S. stock futures were relatively flat on Thursday morning, after a significant downturn in major indices in the previous session. Futures on the Nasdaq 100 (NDX) and the S&P 500 (SPX) were up 0.24% and 0.16%, respectively, at 5:02 a.m. EST, May 22, while the Dow Jones Industrial Average (DJIA) futures were down 0.04%.

On Wednesday, the Dow Jones, the S&P 500, and the Nasdaq Composite (NDAQ) declined by 1.91%, 1.61%, and 1.41%, respectively. The sharp fall was due to concerns about the growing federal deficit, which led to a sharp rise in Treasury yields.

Further, investors’ worries grew after a proposed budget was seen as making the deficit even bigger. It must be noted that the proposed bill could add trillions to the U.S. debt, while fears of inflation from Trump tariffs are already pushing bond prices down and yields up.

In after-hours trading, Lumen (LUMN) rose 11% after AT&T (T) agreed to acquire Lumen’s consumer fiber internet business for $5.75 billion in cash. Further, Snowflake (SNOW) and Urban Outfitters (URBN) saw strong gains following positive quarterly earnings reports.

Moving ahead, market participants are now focusing on Thursday’s Weekly Jobless Claims report for further indications of the labor market’s health. Also, S&P Services and Manufacturing Purchasing Managers’ Index (PMI) reports are set for release today.

On the earnings front, several companies are expected to report results today, such as Intuit (INTU), Autodesk (ADSK), Advance Auto Parts (AAP), Analog Devices (ADI), and Workday (WDAY).

Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.581%. Simultaneously, WTI crude oil futures are trending lower, hovering near $60.89 per barrel as of the last check.

At the same time, the Gold Spot U.S. Dollar Price rose to nearly $3,310 per ounce on Thursday, as investors turned to safe-haven assets as concerns over the U.S. fiscal outlook grew.

Elsewhere, European indices opened lower today, as concerns over the U.S. fiscal outlook weighed on global markets. Also, investors are on edge as talks over President Trump’s tax bill continue.

Asia-Pacific Markets Ended Lower Today

Asia-Pacific indices were in the red today, mirroring Wall Street’s decline, as investors grew worried about a new U.S. budget bill that could increase national debt.

At the same time, the Hong Kong index was down 1.19%. Also, China’s Shanghai Composite and Shenzhen Component indices closed lower by 0.22% and 0.72%, respectively. Further, Japan’s Nikkei and Topix indices declined 0.84% and 0.58%, respectively.

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