06/08/2026 Daily Reports
- Tech Pullback: Asian markets took a hit today (Kospi -3.64%, Nikkei -1.57%) after Wall Street’s AI-driven rally hit the brakes. Even with solid earnings from AMD and SpaceX, investors are starting to question how long the heavy AI spending can be sustained without faster returns.
- Geopolitics & Oil: Brent crude is holding steady around $79.31. All eyes are on the Middle East as markets weigh the prospects of a proposed Iran-Oman deal that could impact shipping through the Strait of Hormuz.
- Macro Data on Deck: ADP private payrolls came in weak (44k vs expected 69k). With a 54% chance of a Fed rate hike in September, Friday’s Non-Farm Payrolls (NFP) report is going to be the ultimate market mover this week.
- Metals on Fire: Safe havens are loving the uncertainty! Spot gold is tearing up past $4,290 an ounce, and silver is pushing $62.48.
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Global markets remained supported by strong corporate earnings and optimism that tensions in the Middle East could ease. The S&P 500 and Dow Jones traded near record highs, while technology stocks faced profit-taking pressure. Gold extended its rally on the back of a weaker U.S. dollar and lower Treasury yields, while oil prices remained volatile amid ongoing geopolitical developments. Investors are now focused on upcoming U.S. labor market data and any new signals from the Federal Reserve regarding the interest rate outlook.
