The AI rally continues for the eighth week in a row — when will the market stop, and will it stop at all?
Financial markets continue to move in a confident risk-on mode. American indices are once again storming historical highs, the AI sector maintains its status as the main growth driver, and investors are gradually returning to risk assets.
Financial markets continue to move in a confident risk-on mode. American indices are once again storming historical highs, the AI sector maintains its status as the main growth driver, and investors are gradually returning to risk assets amid easing geopolitical tensions and stabilizing inflation expectations.
📈 USA: S&P 500 heads for eighth week of growth
The American market continues to look extremely confident. The decline from historical highs was only about 2%, and the S&P 500 is once again close to record levels. Futures before the opening: S&P 500 Futures +0.3% · Nasdaq Futures up on demand for AI and semiconductors.
After a powerful report from Nvidia, investors continue to actively enter technology stocks. In focus are the Fed's protocols, inflation expectations, prospects for rate cuts, and corporate earnings.
🛢 Oil breaks support levels
The oil market continues to weaken: buyers were unable to hold the level of $110, and then $105 for Brent. The decline is linked to hopes for diplomatic resolution in the Middle East, a decrease in geopolitical premiums, and stabilization of logistics chains.
Brent is trading around $100 per barrel — a psychologically important zone. For the market, this is both positive for inflation and negative for oil and gas companies and commodity currencies.
🥇 Gold and gas: consolidation after the rally
Gold has been trying to hold above the key level of $4500 per ounce all week, but the technical picture remains weak. The market is in a state of tense consolidation — investors are not yet ready to return en masse to safe assets.
Natural gas NG is correcting below $3 after a powerful May rally from $2.7 to $3.1.
💵 Dollar strengthens — crypto holds steady
The DXY index has reached a six-week high amid a resilient American economy and expectations that the Fed may keep rates high for longer. In the Forex market: EUR/USD under pressure · GBP reacts to UK inflation data · the yen continues to weaken against the dollar.
Bitcoin remains stable even amid a strong dollar. The digital asset market remains in a phase of anticipation: traders are monitoring liquidity, Fed rates, and inflows into ETFs.
🇰🇿 Kazakhstan: KASE maintains growth, tenge stable
Official exchange rates of the National Bank of Kazakhstan: USD/KZT — 471.45 ₸ · EUR/KZT — 547.21 ₸ · RUB/KZT — 6.63 ₸. The tenge is supported by high oil prices and the tax period. The KASE index is around 7,889 points (+8% since the beginning of the year) — main drivers: strong corporate reports and the resilience of the banking sector.
The forum “AFM online 2026” is taking place in Astana — discussing measures against internet fraud, regulation of digital assets, and protection of the crypto market from manipulation.
⚡ In focus today: Fed protocols and rate outlook · Brent at the psychological mark of $100 · DXY at a six-week high · AFM online 2026 forum in Astana · KASE resilience at 7,889 points.