-
US markets remained subdued with the US500 down 0.2%, US100 flat, and US30 down 0.3% as traders awaited Nvidia's Q1 2026 results after the bell, with expectations for $43.1B revenue and $0.89 EPS representing massive year-over-year growth.
-
Nvidia's earnings carry outsized importance for the entire AI trade, with options markets pricing a 6% post-earnings move in either direction for the $3.3 trillion chipmaker, as investors focus on Blackwell chip production ramp-up and China revenue impact from trade restrictions.
-
Treasury yields climbed with 10-year yields rising 5 basis points to 4.49% ahead of a $70 billion five-year note auction, while weak demand at Japan's 40-year bond sale highlighted global debt market stress amid ongoing fiscal concerns.
-
Oil prices surged over 2% with WTI crude jumping to $62.16 and Brent to $64.36 on supply disruption fears after Trump threatened new Russia sanctions and banned Chevron from Venezuelan oil exports, ahead of Saturday's crucial OPEC+ meeting.
-
OPEC+ established new production baseline mechanisms for 2027 while sources indicated Saturday's meeting may approve another 411,000 bpd output increase for July, continuing the group's gradual unwinding of production cuts despite recent price weakness.
-
Retail earnings showed mixed signals with Macy's beating profit expectations despite cutting full-year guidance due to tariff impacts and consumer spending moderation, while Abercrombie & Fitch surged on strong results and raised outlook.
-
Fannie Mae and Freddie Mac shares soared after Trump announced plans to take the mortgage giants public while maintaining government guarantees, with shares hitting highest levels since 2008 as the administration seeks to end their conservatorship.
-
German automakers in tariff negotiations with the Commerce Department, seeking export credits and investment pledges to soften potential import duties, with BMW, Mercedes-Benz, and Volkswagen hoping for a June deal.
-
New Zealand cut rates by 25 basis points to 3.25% citing global tariff uncertainties, while Australia's CPI came in slightly hot at 2.4% YoY, and Japan's central bank worried about JGB yield volatility amid weak bond demand.
-
Fed minutes due later today expected to reinforce officials' cautious approach to monetary policy amid tariff uncertainty, with Minneapolis Fed President Kashkari advocating for steady rates until inflation impact becomes clearer.
-
Market positioning remains defensive despite recent rebounds, with Barclays noting mutual fund inflows stalled in May while systematic buyers and low volatility could drive further equity gains, as $7 trillion sits in cash funds awaiting deployment.
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
