Multi-Asset Morning Pack
Thursday 7 May 2026 | 06:00 UK
Asia-Pacific Equity Snapshot
| Nikkei 225 | 62,855.76 | +5.62% |
| Hang Seng | 26,623.94 | +1.56% |
| Shanghai Comp | 4,170.75 | +0.25% |
| Shenzhen Comp | 15,569.46 | +0.71% |
| ASX 200 | 8,861.50 | +0.77% |
| KOSPI | 7,390.23 | +0.08% |
| STI | 4,938.54 | +0.23% |
| NZX 50 | 13,242.73 | +0.74% |
Japanese equities surged to fresh highs led by SoftBank and broader AI/tech optimism, while regional sentiment remained supported by hopes for a US-Iran agreement.
Top Overnight Headlines
- Dow surges 600pts as traders bet on potential US-Iran deal
- Global stock rally builds on Iran deal optimism
- Anthropic signs computing deal with SpaceX to meet AI demand
- SoftBank surges over 16% as Nikkei hits record highs
- France moves aircraft carrier to Red Sea amid Hormuz concerns
- Israel strikes Beirut for first time since ceasefire
- China asks banks to pause new loans to US-sanctioned refiners
- Gundlach warns investors may lose money in private credit funds
US Cash Close
| Dow Jones | 49,910.59 | +1.24% |
| S&P 500 | 7,365.12 | +1.46% |
| Nasdaq | 25,838.94 | +2.02% |
| Russell 2000 | 2,886.77 | +1.47% |
| VIX | 17.39 | +0.06% |
US equities rallied strongly after reports suggesting Washington and Tehran may be nearing a framework agreement, easing immediate geopolitical concerns and supporting risk appetite.
US Futures
| Dow Futures | 50,107 | +0.15% |
| S&P Futures | 7,393.5 | +0.05% |
| Nasdaq Futures | 28,711.5 | -0.02% |
| Russell Futures | 2,898.7 | +0.12% |
Commodities
| WTI Crude | 95.72 | +0.67% |
| Brent Crude | 101.92 | +0.64% |
| Gold | 4,702.30 | +0.17% |
| Silver | 78.04 | +0.95% |
| Copper | 6.1910 | +0.07% |
Oil remained elevated as traders continued monitoring Strait of Hormuz risks despite improving diplomatic headlines.
FX & Rates
| EUR/USD | 1.1753 | +0.04% |
| GBP/USD | 1.3600 | +0.05% |
| USD/JPY | 156.34 | -0.03% |
| AUD/USD | 0.7249 | +0.17% |
| NZD/USD | 0.5963 | +0.13% |
| US 2Y | 3.872% | UNCH |
| US 5Y | 4.001% | -0.001 |
| US 10Y | 4.352% | -0.002 |
Desk Take
The dominant overnight theme remains the market's growing confidence that a diplomatic off-ramp may emerge in the Iran conflict. That has driven a powerful risk rally across US and Asian equities while containing volatility despite elevated oil prices.
Japanese equities continue to lead global momentum, helped by aggressive AI-linked buying and renewed enthusiasm around SoftBank. Treasury yields are marginally softer across the belly and long-end, suggesting the bond market is still leaning toward slower growth and eventual easing despite the equity melt-up.
Watch today for any confirmation or denial around the Iran negotiations, further movement in crude, and whether US futures can extend yesterday’s breakout above 7,300 in the S&P 500.
Japanese equities continue to lead global momentum, helped by aggressive AI-linked buying and renewed enthusiasm around SoftBank. Treasury yields are marginally softer across the belly and long-end, suggesting the bond market is still leaning toward slower growth and eventual easing despite the equity melt-up.
Watch today for any confirmation or denial around the Iran negotiations, further movement in crude, and whether US futures can extend yesterday’s breakout above 7,300 in the S&P 500.
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