Global financial markets are entering a phase of heightened caution. Investors are beginning to reduce risk positions and lock in profits amid expectations of key corporate reports, high inflation, and new geopolitical signals from the USA. Meanwhile, the tenge is strengthening, and Kazakhstan's economy is nearing the $1 trillion PPP mark.

📉 Wall Street: Market Awaits

The main event for the American market remains the upcoming report from Nvidia — attention is currently focused on the AI sector by the largest funds. Ahead of the publication, traders are partially locking in positions, which is putting pressure on the tech sector. Indices: S&P 500 — 7402.69 (−0.10%) · Nasdaq 100 — 28995.38 (−0.45%) · Dow Jones — 49687.81 (+0.32%).

Additional pressure on the markets is coming from the rise in US Treasury yields. Strong macro data intensifies concerns that the Fed may maintain a tight policy longer and not rush to lower rates — risk appetite is gradually decreasing.

🇪🇺 Europe and 🌏 Asia: G7 and Mixed Dynamics

A key event for European markets was the meeting of finance ministers from G7 countries (May 18-19). On the agenda — global inflation, sanctions policy, the resilience of the global economy, and interest rate prospects. Unemployment in the UK remained at 4.9% in March.

Asian markets show mixed dynamics: Nikkei 225 −0.5% · Kospi −2.62% · Shanghai +0.11% · Hang Seng +0.19%. Chinese markets appear more resilient due to local economic support and cautious recovery of domestic demand.

🛢 Oil Corrects — Gold Volatile

The oil market declined after statements from Donald Trump about postponing possible military actions against Iran. This eased concerns about supply disruptions through the Strait of Hormuz. Prices: Brent — $109.88 (−1.98%) · WTI — $102.84 (−1.48%).

Gold is showing high volatility after a strong rise. Some investors are locking in profits amid a strengthening dollar and rising US bond yields, however, demand for safe-haven assets remains due to global uncertainty.

🇰🇿 Kazakhstan: Tenge Strengthens, Economy Grows

The tenge is confidently regaining positions: USD/KZT — 467.58 · EUR/KZT — 543.66 · RUB/KZT — 6.44. The average exchange rate in exchange offices in Almaty and Astana: buying 467–469 ₸, selling 470–474 ₸. The index KASE — 7519.94 (−0.33%) — local correction after a strong spring rally: since the beginning of 2026, the market capitalization has increased by more than 21% and reached 47.1 trillion tenge.

Kazakhstan's GDP for January-April 2026 accelerated to 3.6%, and the manufacturing industry grew by +9.9%. The IMF estimated the country's economy at PPP at $973.4 billion — close to the historic trillion.

⚡ In Focus Today: Nvidia report and the fate of the AI sector, G7 meeting and its signals on rates, oil dynamics after Trump's statements, strengthening tenge, and a new development program for Kazakhstan's stock market until 2030.