Major stock indices drifted on Wednesday while the technology sector outperformed. Crude oil prices retreated and the dollar weakened. President Trump's diplomatic overtures in the Middle East stood in contrast to uncertain negotiations vis-a-vis Russia and Ukraine as NATO ministers met in Turkey. The House GOP navigated marathon committee sessions in its aim to advance budget legislation by Memorial Day. Thursday will bring retail sales and wholesale price data for April, ea

Geopolitical concerns dominated Tuesday's headlines against steady US trading that saw the S&P 500 climb modestly. President Trump kicked off a Middle East tour that signaled Saudi Arabia's prominence as an ally, the rise of chip diplomacy, and a more transactional approach to diplomatic relations in general. Will-they-or-won't-they speculation surrounded the possibility of bilateral talks in Turkey between Russia and Ukraine on Thursday with US officials set to attend. Muted

Encouraging dialogue and a trade war reprieve between the US and China bought time but not certainty as global risk markets reacted with cautious optimism. The S&P 500 rallied 3.3% and major equity indices climbed in unison while the dollar firmed and Treasury yields jumped. Geopolitical risks abound and diplomacy concerning Kashmir, Gaza, Iran, and Ukraine remained in flux. Central bankers sought to carefully assess evolving economic context to better inform monetary policy

The first post-Liberation Day trade agreement and the possibility of thawing Sino-American tensions lifted risk assets on Thursday. While the S&P 500 (+0.6%) and Nasdaq (+1.1%) registered back-to-back advances, 10-year Treasury yields climbed more than 10bp, crude oil futures vaulted nearly 3%, and BTC rallied to its highest levels since January 31. Various officials continued to call for calm amid fighting in Kashmir. Anecdotal reports pointed to a potential confluence of sh

US equities fell for a second session before constructive trade headlines after the close offered support to overnight risk markets. Oil found its footing as a deceptive calm preceded hoped-for deal progress and Wednesday's Federal Reserve decision. Conflict flared in Kashmir between India and Pakistan while military action continued in Gaza and Yemen (notwithstanding a US-Houthi ceasefire). A planned meeting between the US and China in Geneva opened the door to a tariff pull

US equity momentum faded amid trade uncertainty and a pre-FOMC calm as the S&P 500 abandoned a nine-session winning streak that had put it back above Liberation Day levels. Dollar weakness pervaded though benchmark Treasury rates edged higher. Oil declined as OPEC+ voted in favor of output hikes in June. Trade deal announcements were lacking though new tariffs were put forward on foreign films. Tensions in Kashmir remained while Israel planned to expand its occupation of Gaza

Major technology names boosted by data center requirements led an eighth-straight S&P gain as thawing US-China trade diplomacy boosted risk sentiment. Outlook uncertainty driven by a shifting tariff regime weighed on manufacturing PMIs while US port operators warned of precipitous shipping declines with negative implications for employment and economic activity down the line. Trade talks with Japan progressed slowly and came with a friendly warning. The US removed its Nationa

Tariff front-loading and policy paralysis weighed on initial estimates for first quarter GDP, but resilient if slowing consumption and moderating price pressures attenuated stagflation risks for now. The S&P mounted a substantive late recovery to close in the green. A reversion of losses in excess of 2% coincided with reports of US outreach to China and indications of initial deals in the weeks ahead. Gold's steady retreat continued while oil woes were exacerbated by Reuters'

The prospect of progress on trade negotiations buoyed risk assets on Tuesday as the S&P 500 ended in the green for a sixth straight session. Treasury yields continued their descent into Wednesday's refunding announcement while the dollar strengthened. Pulled forecast guidance and outlook uncertainty overshadowed earnings outperformance as markets awaited further clarity on tariffs. Apropos, comments from the administration hinted at near-term deal announcements on the horizon