EUR/USD
1.17714
0.415%
Gold
4714.16
0.578%
Oil
91.846
-2.992%
USD/JPY
156.688
-0.154%
GBP/USD
1.36175
0.495%
GBP/JPY
213.375
0.353%
Real-time News
Irans Tasnim News Agency: Iran has seized the oil tanker "Ocean Koi".On May 8th, a team led by Michael Hartnett of Bank of America stated that U.S. stocks are on the verge of recording double-digit gains for the fourth consecutive year, a rare occurrence that has only happened a handful of times in history. The S&P 500 currently corresponds to an annualized gain of approximately 20%. Such sustained rallies have previously only occurred during World War II, the years of peace following the war, and the bubble phase of 1995-1999. The latest surge, fueled by a frenzy of capital spending on artificial intelligence, has further propelled the stock market, but the gains have been very narrow. Now, other sectors are also beginning to show stronger upward momentum. Hartnett and his team believe that, supported by the resilience of the U.S. economy, small-cap stocks, emerging markets, and commodities are "all approaching a long-term bull market turning point." The Bank of America team expects materials stocks to be among the next strong performers. Although this sector currently accounts for only 2% of the S&P 500, near a 30-year low, this is expected to change. Geopolitical competition over resources, increased military spending, the surge in capital expenditures on artificial intelligence, and efforts to address the housing shortage will make the materials sector a "new bull market protagonist."Federal Reserve Governor Tim Cook declined to comment on the economic or monetary policy outlook while speaking at a digital asset conference in Senegal.May 8th - British Prime Minister Keir Starmer suffered a major early defeat in Fridays election, highlighting strong voter dissatisfaction with his government and casting a shadow over his political future. In regions where results have been announced, Starmers Labour Party saw a significant drop in support, including traditional strongholds in the former industrial areas of central and northern England, as well as parts of London. The main beneficiary of the election was Nigel Farages anti-immigrant populist Reform Party, which won over 200 seats in England and is poised to become the main opposition force to the pro-independence Scottish National Party and the Party of Wales in Scotland and Wales. The elections in Englands 136 local councils, along with those in Scotland and Wales, represent the most crucial test of public opinion before the next general election in 2029. Labour MPs have stated that if the party performs poorly in Scotland, loses power in Wales, and fails to retain its majority of approximately 2,500 uncontested seats in England, Starmer will face renewed pressure to resign or set a timetable for his departure. Preliminary results indicate that Britains traditional two-party system is continuing to crumble, transitioning towards a multi-party democracy, which analysts call one of the biggest changes British politics has undergone in the past century.Federal Reserve Governor Lisa Cook will speak in ten minutes.
