Market news
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US Adds 172K Jobs in May, Far Above 85K Forecast
The US economy added 172,000 jobs in May, crushing the consensus estimate of 85,000. The unemployment rate held steady at 4.3%, with April's payrolls revised up by 64,000.
ING: Oil Inventory Decline Tightens Supply Outlook, Persian Gulf Flow Optimism Overstated
ING analysts Warren Patterson and Ewa Manthey say that oil is trading on overly optimistic expectations of resumed Persian Gulf flows, given stalled US-Iran talks and declining inventories that tighten the supply outlook.
Gold Demand Expected to Fall 2% in 2026 as Investment Rise Offsets Weaker Jewellery
According to Commerzbank citing Metals Focus, total gold demand is forecast to decline 2% in 2026, as weaker jewellery and central bank purchases are partly offset by stronger investment in bars and coins.
India Q1 GDP Grows 7.8% YoY, Beats Estimates
India's Q1 GDP expanded at 7.8% year-on-year, exceeding market expectations. The stronger-than-expected reading may influence the Indian Rupee and RBI policy outlook.
Rosneft CEO Sechin: No Country Can Replace Lost Middle East Oil; Warns $150 if Hormuz Closed
Rosneft CEO Igor Sechin stated that no country, including the US, can replace oil supply lost due to the Middle East crisis, and warned that oil prices could reach $150 per barrel if the Strait of Hormuz is closed.
Silver Falls 1.37% to $72.87 on Friday
Silver prices declined on Friday, dropping 1.37% to $72.87 per troy ounce, according to FXStreet data.
US Growth Holds as Inflation Surprises – Danske Bank
Danske Bank reports US economic growth slowed at the start of 2026 but remains more resilient than expected, while inflation delivers a surprise.
Brent Falls on US-Iran Hopes, Eases Inflation Fears
Deutsche Bank strategists note that Brent oil has reversed gains as hopes for a US-Iran deal ease stagflation concerns and lower inflation expectations.
Australia Weighs Response to China's Iron Ore Monopsony – Rabobank
Rabobank strategist Benjamin Picton notes Australian iron ore majors are taking steps to counter China's growing monopsony power.
US Economy Shows No Recession Signal 100 Days Into Iran Oil Shock
More than 100 days after the start of the Iran war and the resulting global oil supply disruption, the US economy has yet to exhibit a typical recession signal.
Fed Countdown Begins as US Inflation Data, Geopolitical Risks Loom
The countdown to the year's first Fed meeting, scheduled for June 17 under Chair Warsh, has begun. Key US inflation data and rising geopolitical tensions are in focus ahead of the decision.
China to Tighten Crackdown on Illegal Fund-Raising and Cross-Border Money Movement
China has announced stricter measures targeting illegal fundraising, embezzlement, fund misuse, unauthorized cross-border capital flows, and the role of private equity funds in illicit fundraising, according to a recent statement.
Stellantis to Install Solar Power at Two-Thirds of Its Factories, Plans Battery Storage at 20 Sites
Stellantis is expanding its renewable energy footprint in Europe by installing solar power at two-thirds of its factories and planning battery energy storage systems at 20 locations, with seven plants expected to be active by 2026.
Commerzbank Sees Oil Near $100 on Gulf Tensions
Commerzbank analysts warn that persistent geopolitical tensions in the Persian Gulf will keep oil prices near $100, with restricted Strait of Hormuz traffic driving inflation spillovers.
UBS Economist: US Jobs Report May Offer Weak Signal as Savings Shrink
UBS Chief Economist Paul Donovan warns that the upcoming US employment report could provide an unreliable picture of the labor market as consumer savings dwindle, with expectations of flat unemployment and job gains below 100,000.
Romania Defence Ministry: Object Not Army Equipment, Not in Black Sea Exercise
Romania's Defence Ministry clarified that an unidentified object is not part of the army's equipment and was not involved in recent Black Sea exercises, correcting an earlier statement.
Quantum Supremacy, Usefulness, Advantage: Key Differences Explained
A breakdown of the fundamental differences between quantum supremacy, usefulness, and advantage—terms often confused but representing distinct milestones in quantum computing evolution.
Oil Prices Stay Subdued Despite Hormuz Risk – Rabobank
Rabobank strategist Benjamin Picton notes that oil markets remain subdued even as the Strait of Hormuz is effectively closed, with Brent futures falling sharply.
Dow Jones Futures Dip Ahead of US Jobs Data
Dow Jones futures edged lower 0.04% while Nasdaq 100 futures plunged 1.23% ahead of the US Nonfarm Payrolls report.
Poll: 68% of Americans Want Iran War to End Quickly
A new Economist/YouGov poll finds 68% of Americans want the conflict with Iran to end as soon as possible, with nearly 7 in 10 favoring a swift deal.
WTI Oil Holds Compressed Range as Labor and Logistics Factors Collide
WTI crude oil entered Friday in a narrow trading band as markets balance labor-market expectations against persistent logistical uncertainty across global energy supply chains.
Gold Rebounds Nearly 2% on Ceasefire Hopes, Then Eases as Hezbollah Rejects
ING reports gold rebounded nearly 2%, briefly topping $4,500/oz, as a tentative Israel-Lebanon ceasefire reduced immediate geopolitical risk, before easing when Hezbollah rejected the proposal.
OECD cuts 2026 global growth forecast to 2.8%
The OECD lowered its 2026 global GDP growth projection to 2.8% from 3.4% in its latest Economic Outlook, signaling a weaker near-term outlook.
WTI Flattens Near $91 Despite Fragile Israel-Lebanon Ceasefire
WTI crude oil trades flat around $91.00 during early European trade on Friday, as a US-brokered ceasefire between Israel and Lebanon remains fragile due to continued attacks.