Hit Record

• Japan's Nikkei 225 Index jumped nearly 6% after returning from holiday, joining South Korean and Taiwanese equities at record peaks on strong AI-driven tech earnings momentum. • South Korea's KOSPI surged 75% year-to-date, the world's best-performing major stock market, while Samsung joined the $1 trillion company club amid the regional rally. • The AI boom is showing disproportionately in Asia compared to U.S. markets, with Taiwan stocks up 45% and Nikkei up 25% for 2026, outpacing the Nasdaq's 11% gain.

US president pauses ‘Project Freedom’ to work on ‘final agreement’ with Tehran; stocks also ride high on AI euphoriaGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Asian stock markets hit record highs, following in Wall Street’s footsteps, and oil prices retreated after Donald Trump hailed “great progress” towards a “final agreement” with Tehran.on the request of Pakistan and other Countries, the tremendous Military Success that we have had during the Campaign against the Country of Iran and, additionally, the fact that Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran”.Investors bought and continue to add to positioning in the 2026 winners. There has been some buying in S&P 500 materials stocks, but it’s tech that continues to attract the bulk of flows, notably in Apple and the memory plays.9am BST: Eurozone services and composite PMIs for April9.30am BST: UK services and composite PMIs for April1.15pm BST: US ADP employment change for April Continue reading...

• National average gasoline prices surged to historic highs on May 3, 2026, amid the ongoing Iran war and disruptions in key oil routes like the Strait of Hormuz. • The spike in fuel and grocery prices is hammering American pocketbooks, contributing to President Trump's declining poll numbers. • Treasury Secretary Scott Bessent stated the U.S. economic blockade is suffocating Iran's regime, costing it $435 million in daily economic activity.

• A Washington Post-ABC News-Ipsos poll from April 24-28 shows President Trump's disapproval at 62%, his highest in two terms, with overall approval at 37%. • Only 34% approve of his economic handling and 33% of the Iran war, fueling GOP concerns for midterm losses. • Democrats hold a 5-point edge in generic House ballot tests, up from 2 points earlier.

Disapproval rose to 62%, the worst of his two terms in office, amid economic issues since launching his war against IranSix months out from November’s midterm US elections, Donald Trump’s disapproval rating has reached 62% – the worst of his two terms in office – according to a new Washington Post-ABC News-Ipsos poll.The US president received his worst ratings on the cost of living and other economic issues since launching his deeply unpopular war against Iran in February, which has plunged the global economy into an oil crisis and sent gas prices rocketing to a four-year high. Continue reading...

• US equities closed higher with the S&P 500 rising 0.8% and Nasdaq 100 up 0.8% to new records, while the Dow remained flat. • Apple shares gained more than 5% after reporting strong earnings driven by robust iPhone sales and performance in China. • The rally came amid a pullback in oil prices and positive corporate earnings momentum.

• The S&P 500 rose 0.8% to close above 7,000 points for the first time, while the Nasdaq Composite surged 1.6% to a record high, driven by gains in technology and software stocks and optimism over potential U.S.-Iran peace talks. • Bank of America posted a 17% rise in quarterly profit from strong trading and investment banking fee rebounds, while Morgan Stanley reported a near 30% profit jump supported by record equities trading revenue and improved dealmaking activity. • Stock index futures edged higher after-hours, with S&P 500 Futures up 0.2% to 7,070.75 points and Nasdaq 100 Futures rising 0.3% to 26,440.75 points, reflecting continued market momentum.

• CDC data shows 3.6 million US births in 2025, a 1% decline from 2024, with fertility rate at 53.1 births per 1,000 women ages 15-44, down 23% since 2007. • Trump administration downplays contraception in Title X grants, mentioning it once as overprescribed with side effects, amid efforts to reverse birth decline. • High maternal mortality of 17.9 deaths per 100,000 live births in 2024, with 4 in 5 pregnancy deaths preventable, contrasts lower risks of contraception.