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Market Minutes
Read snapshots of the latest market news
US–Iran deal hopes lift equities and sink oil prices; ADP, Ivey PMI beat forecasts
A potential US–Iran peace agreement lifted equities and pushed oil lower as traders priced in less supply risk and softer inflation pressure. The S&P 500 and Nasdaq 100 set fresh records, while Brent and WTI fell sharply. Stronger-than-expected ADP private payrolls and a robust Canadian Ivey PMI added to the data-driven backdrop.
Oil volatility surges amid Hormuz instability; RBA raises rates, ISM PMI expands
Oil prices have experienced heightened volatility amidst significant instability in the Middle Eastern region. Simultaneously, the Reserve Bank of Australia (RBA) increased interest rates to 4.35% to mitigate energy-driven inflationary pressures. In the United States, the ISM Services PMI indicated continued expansion at 53.6, although the figure fell short of analyst forecasts.
Renewed Middle East tensions lift energy prices; Palantir tops forecasts
Escalating tensions in the Middle East have driven energy prices to levels not seen since 2022, as instability in the Strait of Hormuz threatens global supply chains. Concurrently, Palantir Technologies exceeded its Q1 2026 earnings forecasts, reporting significant triple-digit profit growth.
5 May 2026, 00:32Central Banks brace for another inflation fight
How rapidly central banks are shifting back toward a more aggressive inflation stance after briefly hoping the energy shock might stay contained.
BoE and ECB hold rates steady; US PCE rises while GDP growth misses forecasts
The Bank of England (BoE) and the European Central Bank (ECB) maintained interest rates at their current levels while adopting a hawkish rhetorical shift in response to escalating Middle Eastern tensions and energy-driven inflationary pressures. Concurrently, the US Personal Consumption Expenditures (PCE) price index surged to 3.5%, while the first-quarter GDP growth reached 2.0%, failing to meet market expectations.
Fed and BoC hold rates steady, flag economic risks; Tech giants beat expectations
The Fed and Bank of Canada held rates steady at 3.75% and 2.25% respectively, citing geopolitical and economic risks. Central banks adopted neutral stances amid energy volatility. Simultaneously, Alphabet, Microsoft, Amazon, and Meta crushed Q1 2026 earnings estimates, propelling Nasdaq futures toward record highs.
UAE exit from OPEC sends oil prices higher; Visa, Coca-Cola, Starbucks beat earnings
The UAE’s exit from OPEC+ sparked by Middle East tensions has driven oil benchmarks toward $100. Meanwhile, Visa, Coca-Cola, and Starbucks delivered strong Q1 2026 earnings, exceeding market expectations. Attention now turns to the Federal Reserve’s policy decision amid rising global inflationary pressures.
A data-heavy week: Monetary policy and Mega-Cap Earnings in focus
Global financial markets are bracing for a period of heightened volatility as several major central banks prepare to announce interest rate decisions. Concurrently, the first-quarter earnings season enters a critical phase with reports due from five of the "Magnificent Seven" technology giants.
US and German confidence hit multi-year lows, while UK retail sales rise
Global sentiment is fracturing as the US-Israel-Iran conflict drives energy prices higher. Michigan consumer sentiment hit an all-time low, and German business confidence fell to levels not seen since 2020. Conversely, UK retail sales showed unexpected resilience, shifting market focus toward the Bank of England’s upcoming interest rate decision.
Global equities weaken amid oil rally and inflation risks; US labour market steady
Global equity markets retreated as surging oil prices, driven by escalating conflict in the Middle East, intensified concerns regarding inflationary persistence. Despite robust corporate earnings for the first quarter of 2026 and a resilient US labour market, major US indices closed lower.