The financial markets enter a new week in a state of heightened turbulence. Artificial intelligence continues to drive the tech sector, Brent oil above $112 amid geopolitical tensions, while investors are increasingly taking profits after historic highs in the US.

📈 USA: AI continues to pump the market

American indices S&P 500 and Nasdaq previously reached historic peaks due to insane demand for AI companies, but now the market is starting to cool down. The main focus is on Nvidia: investors continue to aggressively build positions amid rumors of easing US export restrictions, and a strong report from Cisco Systems has only strengthened the market's belief in the continuation of the tech growth cycle.

But euphoria is gradually giving way to caution: unconvincing results from US-China talks have triggered a pullback from the highs and an increase in profit-taking.

💵 Dollar regains strength

The DXY index is holding above 99.3 points, indicating a return of demand for the US currency. The tenge remains relatively stable, domestic demand for dollars in Kazakhstan has decreased, and the currency market remains under control.

NB RK rates: USD/KZT — 470.17 · EUR/KZT — 547.47 · RUB/KZT — 6.42. Average rates in Almaty exchange offices: buying 468–470 ₸, selling 470–474 ₸.

🛢 Oil back in the global spotlight

Brent is already above $112 per barrel. The main reason is the escalation of geopolitical risks and the effective blockade of the Strait of Hormuz, through which a huge portion of global oil supplies passes.

The market is starting to price in the risk of further supply shortages, and any new statements from the US, China, or the Middle East could sharply increase volatility.

🥇 Gold at a dangerous level — gas hit the target

After a powerful rise, gold has entered a correction: the price of an ounce has dropped to the level of $4500 — a psychologically important zone for the market. If buyers cannot hold this level, the market may experience a chain reaction of stop-losses and accelerate the decline.

Natural gas NG has fully realized the speculative growth scenario: the level of $3 has been reached and even exceeded. For short-term traders, the current levels already look like a potential profit-taking zone.

⚡ In focus today: AI and the tech sector, US-China negotiations, Middle Eastern geopolitics, dollar growth, and volatility in commodity assets. The market is entering a phase where one headline can turn the movement in a matter of hours.