Risk sentiment turned cautious as weaker equities, firmer oil, lower gold, and higher volatility kept markets defensive.
Markets turned cautious as **KOSPI fell to 7,557.53 (-3.38%)**, while **Nasdaq rose to 26,274.13 (+0.10%)** and **S&P 500 gained to 7,412.84 (+0.19%)**. **Gold declined to $4,709.37/oz (-0.54%)**, **silver dropped to $85.1530/oz (-1.12%)**, **Brent rose to $105.25/bbl (+1.00%)**, and **VIX climbed to 18.38.
Today's Snapshot
- KOSPI: 7,557.53 (-3.38%)
- Nasdaq Composite: 26,274.13 (+0.10%)
- S&P 500: 7,412.84 (+0.19%)
- Gold: $4,709.37 (-0.54%)
- Silver: $85.1530 (-1.12%)
- Brent Crude: $105.25 (+1.00%)
Global Markets
(A) Precious Metals
Gold: $4,709.37/oz (-0.54%) Gold fell 0.54% as a firmer U.S. dollar and higher oil prices pressured precious metals. Markets stayed focused on U.S. CPI data, with elevated crude prices raising inflation concerns and reducing expectations for faster Fed rate cuts.
Silver: $85.1530/oz (-1.12%) Silver fell 1.12%, underperforming gold as traders booked profits after recent gains. The decline was driven by dollar strength and caution ahead of U.S. inflation data, while industrial-demand expectations limited a deeper fall.
Brent Crude: $105.25/bbl (+1.00%) Brent rose 1.00% as fragile U.S.-Iran talks kept supply-risk premiums elevated. Reuters said oil prices gained as uncertainty around negotiations raised concerns over Iranian supply and Strait of Hormuz risks.
(B) FX
USD/JPY: (+0.3%) The yen weakened as the dollar gained, supported by safe-haven demand and wide U.S.-Japan yield differentials. Intervention risk remains in focus as officials monitor sharp currency moves.
EUR/USD: (-0.2%) The euro fell as the dollar strengthened ahead of U.S. CPI data, while Middle East tensions supported demand for the greenback.
USD/INR: (+0.4%) The rupee weakened as higher Brent crude raised concerns over India’s import bill, inflation pressure, and current-account outlook.
Financial News & Events - May 12, 2026
High Impact Events
| Country | Release | Forecast | Previous | Time (UAE) |
|---|---|---|---|---|
| U.S. | CPI (MoM) (Apr) | +0.6% | +0.9% | 16:30 |
| U.S. | CPI (YoY) (Apr) | +3.7% | +3.3% | 16:30 |
| U.S. | Core CPI (MoM) (Apr) | +0.3% | +0.2% | 16:30 |
| U.S. | Core CPI (YoY) (Apr) | +2.7% | +2.6% | 16:30 |
| U.S. | Fed Williams Speaks | - | - | Tentative |
Europe Watch
| Country | Release | Forecast | Previous | Time (UAE) |
|---|---|---|---|---|
| Germany | Final CPI (MoM) (Apr) | +0.6% | +0.6% | 12:00 |
| Germany | ZEW Economic Sentiment (May) | -29.1 | -17.2 | 13:00 |
| Eurozone | ZEW Economic Sentiment (May) | -21.6 | -20.4 | 13:00 |
Volatility
VIX closed around 18.38, indicating cautious market conditions.
The VIX rose 6.92% on May 11, 2026, moving from 17.19 to 18.38, as traders increased hedging amid U.S.-Iran tensions, higher oil prices, and caution ahead of U.S. CPI data.
What Traders Are Watching
- U.S. CPI inflation - Traders are watching whether higher oil prices are feeding into consumer inflation and forcing the Fed to keep rates higher for longer.
- U.S.–Iran peace talks - Markets are tracking whether diplomatic progress can reduce Strait of Hormuz supply risks, cool oil prices, and ease inflation pressure.
- AI-chip momentum - The pullback in KOSPI and cooling semiconductor rally are being watched closely to see whether global equity leadership remains intact.
“**“The stock market is designed to transfer money from the Active to the Patient.”** ”
**Yesterday’s Market News - May 11, 2026**
Markets advanced as AI momentum lifted global equities, with KOSPI jumping to 7,882.63 (+386.49 pts, +5.13%), the Nasdaq Composite rising 441.08 points (+1.71%) to 26,247.08, and the S&P 500 gaining 61.93 points (+0.84%) to 7,398.93. Brent crude climbed to $105.35/bbl (+$4.08, +4.01%) as stalled U.S.–Iran peace talks raised supply-risk premiums, while gold fell $52.74 (-1.12%) to $4,661.86 as a firmer dollar and higher oil prices lifted inflation concerns. Silver slipped $0.40 (-0.50%) to $79.9470 as dollar strength pressured precious metals.
Read full recap →Sources
- Reuters - Global Markets - AI rally pauses as Middle East ceasefire goes on ‘life support’
- Reuters - Global Markets - Morning Bid: Peace talks stutter
- Reuters - Commodities - Oil prices rise as fragile US-Iran talks sustain supply worries
- Reuters - FX - Dollar steady as Middle East peace hopes recede
- Reuters - Global Market Data - Market Performance, Commodities and Currencies
- Investing.com - Economic Calendar - U.S. CPI and Core CPI Events
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