AI-driven equity gains and easing U.S.-Iran tensions lifted risk sentiment, while softer oil prices pressured the dollar and boosted precious metals.
Overview: Global markets rallied as South Korea’s KOSPI soared 478.77 points (+6.90%) and the Nasdaq gained 258.33 points (+1.03%) on strong AI-chip momentum. Gold jumped $105.45 (+2.31%) to $4,663.30/oz, while silver climbed $3.07 (+4.22%) to $75.92/oz as the dollar index slipped 0.27% to 98.03. Brent crude fell $1.47 (-1.34%) to $108.40/bbl after growing optimism over a possible U.S.-Iran agreement eased supply concerns.
Today's Snapshot
- KOSPI: 7,417.54 (+6.90%)
- Nasdaq Composite: 25,326.12 (+1.03%)
- S&P 500: 7,259.22 (+0.81%)
- Gold: $4,663.30/oz (+2.31%)
- Silver: $75.92/oz (+4.22%)
- Brent Crude: $108.40/bbl (-1.34%)
Global Markets
(A) Precious Metals
Gold: $4,663.30/oz (+2.31%)**
Gold rose strongly as the U.S. dollar weakened, making dollar-priced metals cheaper for overseas buyers. The main support came from growing hopes of a U.S.-Iran deal, which reduced oil-driven inflation fears and kept investors focused on possible Fed rate cuts if economic data softens.
Silver: $75.62/oz (+3.4%)
Silver gained more than gold, supported by the weaker dollar and improved risk appetite across global markets. The move was also helped by stronger industrial-demand expectations, especially as AI and semiconductor-linked sentiment lifted broader market confidence.
Brent Crude: $108.40/bbl (-1.34%)
Brent crude fell as hopes of progress toward a U.S.-Iran peace deal reduced the geopolitical risk premium in oil. Reuters said oil prices declined for a second day after Trump indicated a possible agreement, while supply concerns remained because the Strait of Hormuz situation and inventory drawdowns still kept prices above $100.
(B) FX
Dollar Index (DXY): 98.03 (-0.27%)
The dollar weakened mainly because hopes of a U.S.-Iran deal improved market sentiment, reducing demand for the safe-haven dollar. Lower oil prices also eased inflation concerns and supported gold and silver prices.
USD/JPY: 155.00 (-2.0%)
USD/JPY fell as the Japanese yen strengthened, mainly due to fears that Japan could step into the market to support its currency. Lower U.S. bond yields also added pressure on the dollar.
Financial News & Events - 6 May 2026
High Impact Events
| Country | Release | Forecast | Previous | Time (UAE) |
|---|---|---|---|---|
| US | ADP Nonfarm Employment Change | 185K | 172K | 4:15 PM |
| US | ISM Services PMI | 51.2 | 50.8 | 6:00 PM |
| US | Crude Oil Inventories | -1.2M | -2.5M | 6:30 PM |
| US | FOMC Interest Rate Decision | 4.50% | 4.50% | 10:00 PM |
| US | Fed Press Conference | — | — | 10:30 PM |
Europe Watch
| Country | Release | Forecast | Previous | Time (UAE) |
|---|---|---|---|---|
| EA | GDP Growth Rate QoQ Flash | 0.4% | 0.3% | 1:00 PM |
| EA | Unemployment Rate | 6.1% | 6.1% | 1:00 PM |
| EA | ECB Interest Rate Decision | 2.25% | 2.50% | 4:15 PM |
| EA | ECB Press Conference | — | — | 4:45 PM |
Volatility
VIX closed around 17.6, indicating relatively calm market conditions.
What Traders Are Watching
- Iran deal progress - Important for oil prices, inflation expectations, and global risk sentiment.
- AI and semiconductor momentum - Continued strength could support equity upside, especially in the U.S. and Asia.
- U.S. non-farm payrolls - Key for Fed rate expectations and Treasury yield direction.
“It's not whether you're right or wrong, but how much money you make when you're right and how much you lose when you're wrong.”
Yesterday’s Market News - May 5, 2026
U.S. stocks closed at record highs as the S&P 500 rose 0.81% and the Nasdaq gained 1.03%, driven by AI-linked chip stocks and strong earnings momentum. Brent crude eased as Middle East tensions cooled, while investors stayed focused on Fed policy and upcoming payrolls data. Catch up on: S&P 500 and Nasdaq Hit Records as AI Chip Stocks Surge
Read full recap →Sources
- Reuters - Global Markets - Asia markets hit records on AI euphoria, Iran peace hopes
- Reuters - U.S. Markets - S&P 500 and Nasdaq notch records as AI chip stocks surge
- Reuters - Commodities - Gold jumps on weaker dollar, Middle East peace hopes
- Reuters - Currencies - Dollar eases as US-Iran deal hopes grow, yen firms on intervention speculation
Disclaimer
This report is for informational purposes only and does not constitute investment advice, financial guidance, or a solicitation to buy or sell any financial instruments. Market data and figures are subject to change without notice. Trading leveraged or complex products involves significant risk and may not be suitable for all investors. Please ensure you fully understand the risks involved before trading.
Terms and conditions apply, for full terms and conditions, please visit centrinocapital.com.
