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Market Minutes
Read snapshots of the latest market news
US and German confidence hit multi-year lows, while UK retail sales rise
Global sentiment is fracturing as the US-Israel-Iran conflict drives energy prices higher. Michigan consumer sentiment hit an all-time low, and German business confidence fell to levels not seen since 2020. Conversely, UK retail sales showed unexpected resilience, shifting market focus toward the Bank of England’s upcoming interest rate decision.
Global equities weaken amid oil rally and inflation risks; US labour market steady
Global equity markets retreated as surging oil prices, driven by escalating conflict in the Middle East, intensified concerns regarding inflationary persistence. Despite robust corporate earnings for the first quarter of 2026 and a resilient US labour market, major US indices closed lower.
US markets rise on geopolitical relief and strong Q1 performance; UK inflation accelerates
US equity markets reached record valuations following the indefinite extension of the US-Iran ceasefire and a series of robust Q1 earnings reports. In contrast, the United Kingdom’s inflation rate accelerated to 3.3%, driven by soaring energy costs and intensifying concerns regarding stagflation. Meanwhile, Japan’s trade surplus expanded to a multi-year high, underpinned by unprecedented demand for artificial intelligence (AI) infrastructure.
Stocks retreat as US–Iran tensions persist; US retail sales jump, UK jobless rate dips
Global equities retreated as escalating US–Iran tensions exacerbated geopolitical uncertainty and drove energy prices higher. Conversely, the US economy demonstrated notable resilience, with retail sales reaching a one-year high. Meanwhile, the UK unemployment rate declined to 4.9%, reflecting a recovery in the labour market despite a cooling in overall employment growth.
US–Iran tensions lift oil prices; Canadian inflation accelerates
Escalating tensions between the United States and Iran, coupled with near ceasefire deadline, have propelled oil prices upwards by more than 5%. Simultaneously, Canadian headline inflation rose to 2.4% in March, primarily driven by surging energy costs.
Global stocks advance as Strait of Hormuz reopens; Bank reports lifts markets
Global equity indices rose in tandem following the reopening of the Strait of Hormuz. Investor sentiment was bolstered by burgeoning optimism surrounding potential diplomatic negotiations between the United States and Iran, alongside exceptionally strong Q1 2026 earnings from major financial institutions, including JPMorgan, BlackRock, and Goldman Sachs.
China’s GDP beats forecasts; Eurozone inflation accelerates; US production declines
China’s Q1 2026 GDP grew 5%, exceeding forecasts despite weak demand and geopolitical risks. Simultaneously, Eurozone inflation reached 2.6% due to high energy costs. Conversely, US industrial production fell 0.5% in March.
US stocks set new highs amid hopes of conflict resolution in the Middle East
The S&P 500 and Nasdaq 100 indices have scaled record highs, propelled by growing optimism regarding potential diplomatic deliberations in Pakistan aimed at resolving the US-Israel-Iran conflict. Simultaneously, a significant drawdown in US energy inventories suggests a strengthening in demand, while a mounting political pressure on Federal Reserve Chair Jerome Powell raises critical questions regarding the continued independence of the central bank.
China trade and Aussie sentiment weaken, but markets rally on geopolitical relief hopes
Ongoing tensions in the Middle East have disrupted global trade corridors, causing China’s trade balance to contract significantly to $51.13 billion and sending Australian confidence to multi-year lows. However, optimism surrounding potential peace negotiations in Pakistan bolstered US equity markets and gold prices.
Strait of Hormuz tensions bolster oil prices; US existing home sales retreat
Escalating tensions in the Strait of Hormuz have propelled oil prices toward the $100 threshold as the United States threatens a maritime blockade. Concurrently, US existing home sales have retreated to a 2025 low, with mortgage rates climbing to 6.37%, reflecting a broader environment of economic uncertainty and heightened consumer caution.