HPE soared 20%, Bitcoin fell 6%, yen on the brink — three stories of one trading day
Global financial markets continue to balance between record levels of American indices and ongoing geopolitical risks in the Middle East. Despite signs of a slowdown in the U.S. labor market, the technology
Global financial markets continue to balance between record levels of American indices and ongoing geopolitical risks in the Middle East. Despite signs of a slowdown in the U.S. labor market, the technology sector continues to support the growth of stock exchanges, while investors closely monitor the dynamics of oil, inflation, and further actions of central banks. Tomorrow is a key event for the local market: the meeting of the National Bank of Kazakhstan.
📈 USA: records hold
The American market remains the main driver of global growth: Dow Jones — 51,307 (+0.5%) · S&P 500 — 7,610 (+0.1%) · Nasdaq Composite — 27,094 (+0.1%). Additional momentum was provided to the markets by weaker-than-expected U.S. labor market data — investors hope that a cooling labor market may bring the start of easing monetary policy by the Fed closer.
Among the corporate leaders of the day, Hewlett Packard Enterprise stood out, with its shares rising nearly 20% after strong earnings and a positive forecast.
🤖 Artificial intelligence continues to attract capital
The AI sector remains the main direction of investment in 2026. Companies related to artificial intelligence, data centers, cloud technologies, and chip manufacturing continue to attract the bulk of capital and support the growth of American indices.
Despite local corrections of individual tech giants, the overall trend in the sector remains confidently upward.
🌏 Asia mixed · 🇪🇺 Europe under pressure from inflation
Asian-Pacific markets ended the day without a single direction. Nikkei 225 (Japan) is correcting after strong growth in recent weeks amid profit-taking. The services sector in China continues to support the economy: PMI Services — 54.4 points. India remains one of the fastest-growing economies in the world: PMI Services — 58.9 points — one of the best indicators among the largest economies.
European investors continue to assess inflation risks: Eurozone CPI — 3.2% y/y · Core CPI — 2.5% y/y. High energy prices limit the ECB's ability to ease policy. Indices: DAX maintains growth · CAC 40 in positive territory · FTSE 100 shows weaker dynamics.
🛢️ Oil — the main source of volatility · 🥇 Gold consolidating
The energy market continues to react to news from the Middle East: Brent — $92–93 per barrel · WTI — $91–92 per barrel. The situation around Iran and the Hormuz Strait remains a key risk factor for global energy resource supplies. Despite diplomatic efforts to de-escalate, the market continues to price in a premium for geopolitical risk. According to the World Bank, the energy index fell by 5.4% in May, however, the forecast for the entire year of 2026 still suggests significant price growth.
After the spring rally, gold is consolidating near important support levels: Gold — $4,450–4,500 per ounce · Silver — around $74.6 per ounce. The strengthening dollar and rising bond yields limit the potential for further growth, however, ongoing geopolitical risks support demand for safe-haven assets.
💱 Currency market: dollar strong, yen at a critical mark
The American dollar maintains strong positions: EUR/USD remains under pressure after the publication of inflation data in the Eurozone · GBP/USD shows relative stability · USD/JPY holds near the 160 mark, increasing expectations of possible interventions by the Bank of Japan.
Demand for the dollar is supported by high yields on American bonds and ongoing uncertainty in global markets.
₿ Cryptocurrencies: Extreme Fear and deep correction
Digital assets continue to face pressure amid rising caution among investors: Bitcoin (BTC) — around $66,700 (−6.3%) · Ethereum (ETH) — around $1,856 (−6.9%) · Solana (SOL) — around $74.7 (−7.5%). The total capitalization of the crypto market has decreased to $2.39 trillion, and the fear and greed index has dropped to 11 points — the Extreme Fear zone.
The market continues to be negatively affected by capital outflows from ETFs, the strengthening dollar, and declining interest in risk assets.
🇰🇿 Kazakhstan: all attention on the National Bank
One of the key events for the local market remains the meeting of the National Bank of Kazakhstan, which will take place on June 5. Investors are assessing the likelihood of a change in the base rate and the possible impact of the regulator's decision on the tenge exchange rate, the bond market, the banking sector, and investment activity.
Key events of the day for Kazakhstan: preparation for the National Bank meeting · international industry conferences in the crypto industry and digital assets continue to shape the market agenda. Today, initial jobless claims and labor productivity data will also be released in the U.S. — both indicators affect expectations for the Fed's rate and directly reflect on risk appetite worldwide.
⚡ In focus today: Dow Jones 51,307, S&P 500 7,610, Nasdaq 27,094 at highs · HPE +20% after report · Brent $92–93 and geopolitics of the Persian Gulf · Bitcoin −6.3% to $66,700, fear index 11 points — Extreme Fear · USD/JPY at critical mark 160 · National Bank of Kazakhstan meeting tomorrow June 5 · initial jobless claims and labor productivity data in the U.S.