05/08/2026 Daily Reports
- Asian equities rallied sharply as optimism from Wall Street’s record highs spread across regional markets.
- Japan’s Nikkei surged 3.0%, while South Korea’s Kospi advanced 4.1%, extending recent market volatility.
- Technology stocks continued to lead global markets, supported by strong corporate earnings.
- AMD declined 8.8% in after-hours trading as earnings beat expectations but failed to meet elevated AI-driven investor expectations.
- SpaceX fell 7.5% after the close as investors focused on rising capital expenditures and future funding requirements.
- AI remains a dominant investment theme, although increasing compute costs and higher financing expenses continue to pressure sector valuations.
- Nasdaq futures traded little changed, while S&P 500 futures gained 0.3% following Tuesday’s record close.
- Oil prices extended their decline as optimism grew over progress toward reopening the Strait of Hormuz.
- Brent crude fell to $78.27 per barrel, well below July’s peak above $102, while WTI declined to $74.50.
- Shipping data indicates that oil flows through the Strait of Hormuz have recovered to approximately 40–45% of pre-war levels, easing supply concerns.
- Lower oil prices helped push the U.S. 10-year Treasury yield down to 4.60% from last week’s high of 4.75%.
- Markets reduced the probability of a September Federal Reserve rate hike from 67% to 57%.
- EUR/USD remained steady near 1.1540, while USD/JPY traded around 157.4, with intervention risks still attracting market attention.
- Markets interpreted comments from U.S. Treasury Secretary Scott Bessent as supportive of additional Bank of Japan rate hikes.
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Global markets remain focused on geopolitical developments and upcoming U.S. economic data. Expectations of easing tensions in the Middle East have pushed oil prices lower, while a weaker U.S. dollar has supported gold prices. Investors are closely watching U.S. labor market data for further clues on the Federal Reserve’s interest rate outlook. Meanwhile, corporate earnings and key macroeconomic releases continue to drive sentiment across global equity markets.
Nasdaq. The Nasdaq Composite closed Tuesday at 26,584.99, up 2.6%, while the S&P 500 ended at 7,736.52 and the Dow at 54,085.88, both record closes. The Nasdaq 100 has added about $3.5 trillion in market value over four sessions, a 9.3% gain. On Wednesday the index reversed, trading down 0.44% at 26,393 by late morning, while Eli Lilly rose over 5% after reporting quarterly EPS of $8.38 against a $6.01 consensus. ADP reported private payrolls rose 44,000 in July, below the 75,000 consensus and a downwardly revised 95,000 in June.
DAX. Frankfurt’s benchmark closed Tuesday up 0.8% at 26,202.35 after an intraday record of 26,266.50. On Wednesday it set a fresh record of 26,403.81 before surrendering gains to finish Xetra trade at 26,139.27, down 0.24%. Infineon fell nearly 6% despite record quarterly revenue and raised full-year revenue and free cash flow guidance; Fresenius jumped 5.5% on a Q2 beat and upgraded guidance; Siemens Energy added 1.3% on sharply higher sales, margins and orders; Deutsche Post lost 2.6%. The German composite PMI announced 49,8 for July.
Nikkei. Japan’s Nikkei 225 rose 3.66% to 66,300, its highest close since 23 July, with the Topix up 2.13% at 4,046.17. A more than 6% advance in the Philadelphia Semiconductor Index drove foreign buying of Advantest and Tokyo Electron, while Ibiden hit its daily limit after raising guidance. A stronger yen following coordinated Japan-US intervention weighed on Mitsui and Mitsubishi Corp. Prime market turnover exceeded ¥10 trillion.
Brent. Brent settled Tuesday down 5.3% at $79.36 after Treasury Secretary Bessent said a Hormuz deal could come this week. On Wednesday it recovered toward $80,90 after Yemen’s Houthis claimed an attack on a Saudi vessel in the Red Sea. Axios reported the US, Iran and Oman are close to a 60-day interim agreement to reopen the waterway without tolls.
