🌍 Global Morning Macros Snapshot
🏛️ Dow Futures: 49,963.9 🟢 +262 (+0.53%)
💻 Nasdaq Futures: 28,557.1 🟢 +168.6 (+0.59%)
🛢️ Crude: 101.8 🔻 -0.03 (-0.03%)
🥇 Gold: 4,703.35 🟢 +2.087 (+0.04%)
💵 DXY: 97.835 🟢
📈 US 10Y: 4.352 🟢 | 📈 US 30Y: 4.934 🟢
🇮🇳 USDINR: 94.6 🔻
🇮🇳 Gift Nifty: 24,439.5 🟢 +11 (+0.05%)
🌙 US Markets – Previous Close (May 6)
📈 Dow: +1.24% | 📈 Nasdaq: +2.02%
• Axios reported the White House believes it is getting close to an agreement with Iran on a one-page memorandum of understanding to end the conflict
S&P and Nasdaq hit fresh records; WTI crashed 7%; Dow crossed 49,900 — closest ever to 50K
🔥 GEOPOLITICS & WAR
- US-IRAN MOU IMMINENT — Axios reported, citing sources, that the US and Iran were getting close to a deal that would bring a resolution to the conflict; the agreement would include a moratorium on nuclear enrichment; Iran FM spokesperson told CNBC Iran is "evaluating a US proposal."
- TRUMP CAUTIOUS — Trump said later Wednesday it was "perhaps, a big assumption" Iran would agree; deal not signed yet; both sides still negotiating text.
- Iran expected to hand over its response to mediators Thursday; IRGC Navy said safe passage through Hormuz possible under "new procedures" — first positive Hormuz signal from IRGC directly.
- US implicitly accepted Iran's core demand — settle Hormuz first, nuclear program to follow; sharp departure from Washington's original position demanding all four objectives simultaneously.
- 1,600 ships still stuck in Hormuz — only 2 guided through under Project Freedom before it was paused; shipping companies unwilling to move without confirmed ceasefire.
- ISRAEL STRIKES BEIRUT — Netanyahu said Israel targeted a top Hezbollah commander in the first strike in Beirut since the Lebanon ceasefire; France's Macron urged Hormuz reopening after call with Iran president Pezeshkian.
- WTI front month fell nearly 7% to $95.19 on MOU report — biggest single-day oil drop since Project Freedom pause; S&P Energy sector -4%.
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🌍 WORLD MARKET HEADLINES
- USDINR: 94.60 🔻 — rupee recovering from 95.33 record low hit May 5; crude below $102 giving rupee relief.
- Gift Nifty (May 7, early): 🟢 +11 pts (+0.05%) — flat; tracking cautious overnight mood; deal not yet signed.
- Crude WTI: $101.80 (-0.03%) — near flat after yesterday's -7% crash; Brent ~$108; market consolidating around $100 pending deal confirmation.
- Kospi 🚀 +6.68% — new record, topped 7,000 for first time; Samsung Electronics +15% to $1T market cap; SK Hynix all-time high — extraordinary Korean market rally on Iran deal hopes.
- Australia ASX 🟢 +0.87%; China CSI300 🟢 +1.62% — resumed trading after Labor Day break.
- Japan’s Nikkei 225 tops 62,000 for the first time as Asia markets look past Trump’s Iran threats
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🇺🇸 US MARKET LATEST
- Previous Close (May 6): S&P 500 🚀 +1.46% to 7,365 (record) | Nasdaq 🚀 +2.02% to 25,839 (record) | Dow 🚀 +1.24% to 49,911 — Dow within 89 points of 50,000 for first time ever.
- Live Futures (May 7): Dow 🟢 +262 (+0.53%) | Nasdaq 🟢 +168 (+0.59%) | S&P 🟢 +45 (+0.62%) — positive open; deal momentum continues.
- AMD 🚀 +20% — beat earnings estimates, lifted guidance on soaring data center growth; Super Micro 🚀 +15%; Disney 🟢 +5% on strong streaming and parks revenue; Nvidia +3.97%.
- ADP April private sector jobs: +109,000 — below 120K est, but nearly double March's 61K; service-providing sector led. NFP Friday May 8 is key; April layoffs data today.
- Today's earnings: Shell, McDonald's, Gilead Sciences, Coinbase, Airbnb, CoreWeave — all reporting.
- S&P 500 RSI above 70 — technically overbought; watch for pullback signal if RSI slips.
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Gift Nifty indicated flat opening -37 points
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