🌅 NORDFX MORNING UPDATE | May 6, 2026
🇺🇸 WALL STREET – RECORD CLOSE US stocks surged on Tuesday as oil prices retreated. The S&P 500 rose 0.81% to a fresh all-time high at 7,259, the Nasdaq gained 1.03% to a record 25,326, and the Dow added 356 pts to 49,298. WTI settled at $102.27/bbl (-3.9%), Brent at $109.87 (-4.0%).
🌏 ASIA – ON FIRE South Korea's Kospi surged 6.68% above 7,000 for the first time ever, with Samsung Electronics jumping 15%+ past a $1 trillion market cap. Hang Seng +0.62%, China's CSI 300 +1.62%, ASX 200 +0.87%, India's Nifty 50 +0.72%. Japan markets remain closed for a public holiday.
🛢️ OIL – PULLING BACK Oil fell for a second consecutive day on May 6 as geopolitical tensions showed signs of easing. WTI is trading near $101/bbl, Brent around $110, both down from last week's highs above $106 and $114 respectively.
🥇 GOLD – STEADY Gold is trading at ~$4,557/oz, under pressure from elevated oil prices feeding rate-hike expectations, but finding some stability as Middle East tensions ease slightly.
💱 FOREX EUR/USD at 1.1734 (+0.35%), supported by ECB rate hike expectations - markets now price in 3+ hikes in 2026, with June viewed as a live meeting. The dollar retreated broadly as geopolitical risk appetite improved.
₿ CRYPTO Bitcoin is holding above $80,000, trading near $81,361 (+1.37%), maintaining solid support amid cautious market optimism.
📌 All eyes today on the FOMC meeting (May 6-7) and Friday's Nonfarm Payrolls - key catalysts ahead. The US-Iran standoff over the Strait of Hormuz remains the dominant macro risk.
📊 Trade smart. Stay informed. 🔗 NordFX | nordfx.com
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