Daily News – 21st May ’26
Daily News
Stocks Rally as Iran Peace Talks Enter 'Final Stage'; Dow Jumps 600 Points as Oil and Yields Slide
21 May 2026
Today in Brief
Asia-Pacific markets rose Thursday, tracking Wall Street gains, as Trump declared U.S.-Iran negotiations were in their "final stages," sending oil sharply lower. The Dow surged 645.47 points to 50,009.35, the S&P 500 climbed 1.08% to 7,432.97, and the Nasdaq added 1.54% to 26,270.36. WTI crude tumbled 5.66% to $98.26 and Brent fell 5.63% to $105.02. Gold held above $4,500 on peace optimism, while WTI steadied around $99 as Tehran reviewed Washington's latest proposal. Japan's Nikkei 225 jumped 3.52% after exports beat forecasts, rising 14.8% in April on a semiconductor surge.
The UK struck a historic trade deal with Gulf states, the first such agreement among G7 nations, estimated to boost the UK economy by £3.7 billion annually. Fed minutes showed most officials anticipate rate hikes if Iran war inflation persists. Iran confirmed it is reviewing the latest U.S. peace proposal. Nvidia forecast Q2 revenue of $91 billion, above estimates, and announced an $80 billion buyback. SpaceX targets 10,000 launches per year within five years. NextEra agreed to buy Caliber Resource Partners for $1.3 billion. Elf Beauty beat Q4 earnings but warned the Iran war could cost $15–$20 million in fiscal 2027.
Asia markets rise as Trump says negotiations between Iran and the U.S. in 'final stage'
Asia-Pacific markets traded higher Thursday, tracking Wall Street gains, as growing hopes that the Middle East conflict could end soon cooled oil prices. U.S. President Donald Trump said that Washington was in the "final stages" of negotiations with Iran, according to a pool report, helping lift investor optimism. Oil prices have seen a sharp rise as the Trump administration blockades Iranian ports, while the Strait of Hormuz, one of the world's most critical energy waterways, has been effectively closed by Tehran. Japan's Nikkei 225 was 3.52% higher after the release of the country's latest trade data.
Stocks rally back as rate and oil fears ease. Dow jumps more than 600 points
Stocks jumped on Wednesday as oil prices and U.S. Treasury yields slid amid growing optimism that the conflict in the Middle East could soon be resolved. Traders also looked ahead to the release of Nvidia's first-quarter earnings report. The Dow Jones Industrial Average advanced 645.47 points, or 1.31%, closing at 50,009.35. The S&P 500 rose 1.08% to 7,432.97, while the Nasdaq Composite added 1.54% and ended at 26,270.36. West Texas Intermediate futures shed 5.66% to close at $98.26 per barrel. Brent crude pulled back 5.63% to settle at $105.02 a barrel. That's after President Donald Trump told reporters the administration was in the "final stages" of negotiations with Iran, per a pool report.
Gold held above $4,500 an ounce on Thursday after rising more than 1% in the previous session
Gold held above $4,500 an ounce on Thursday after rising more than 1% in the previous session, supported by growing optimism that an imminent peace agreement between the US and Iran could ease inflationary pressures and reduce concerns over interest rate hikes. President Donald Trump said the US was in the final stages of negotiations with Iran, fuelling expectations that the strategically important Strait of Hormuz may soon reopen. The prospect of restored shipping flows triggered a sharp decline in oil prices, helping temper inflation fears and lowering expectations that central banks will need to tighten monetary policy.
WTI crude futures steadied around $99 per barrel on Thursday after tumbling more than 5% in the previous session
WTI crude futures steadied around $99 per barrel on Thursday after tumbling more than 5% in the previous session, as President Trump said the US was nearing the final phase of negotiations with Iran, fuelling expectations that Middle Eastern oil supply could gradually return to the market. Tehran is currently evaluating Washington's latest draft response to its 14-point proposal. A potential deal would likely lead to the removal of both countries' naval blockades on commercial shipping through the Strait of Hormuz, where tanker traffic has been disrupted since March. Supply optimism was further supported by satellite data showing three supertankers passing through the strait. Still, analysts cautioned that global physical oil markets are likely to remain tight, given that shipments from the Persian Gulf can take nearly two months to reach end markets.
Japan exports jump 14.8% in April, beating expectations as semiconductor shipments soar
Japan's exports climbed 14.8% in April, the fastest pace since January and solidly beating expectations on a surge in semiconductor shipments. The figure was sharply higher than the 9.3% expected from Reuters. Imports increased 9.7% year-on-year, versus an expected 8.3% rise, according to government data. The country's trade balance narrowed to 301.9 billion yen in April, from 643 billion yen in March. The rise was powered by a surge in semiconductor shipments, which rose 41.6% year on year. Total exports to China — Japan's largest trading partner — were up 15.5%, while exports to the U.S. rose 9.5%. The yen strengthened marginally against the dollar, trading at 158.88.
UK announces 'historic' trade deal with Gulf states in G7 first
The U.K. on Wednesday hailed a "historic" trade deal with the Gulf states that marks the first such agreement among Group of Seven (G7) nations. The trade deal could boost the U.K. economy by an estimated £3.7 billion ($4.9 billion) every year and increase wages by £1.9 billion annually in the long run, the U.K.'s Department for Business and Trade (DBT) said as the agreement was announced. The DBT said the U.K. could see a boost to growth and higher wages for decades to come after becoming the first G7 country to secure a trade deal with the Gulf Cooperation Council (GCC) — strengthening its economic partnership with the region, supporting jobs in the long term, and bolstering domestic resilience.
Fed officials see rate hike ahead if inflation stays elevated, minutes show
A majority of Federal Reserve officials at their most recent meeting anticipated that interest rate increases would be necessary if the Iran war continued to aggravate inflation, according to minutes released Wednesday. Though the rate-setting Federal Open Market Committee again voted to keep its benchmark rate targeted between 3.5%–3.75%, the meeting featured four "no" votes, the most since 1992, and an apparently heightened level of disagreement about where policy should go. At issue was the impact that the Iran war would have on prices and how that would work its way into monetary policy. Officials differed on how long the war's impact would last and whether the post-meeting statement should continue to reflect a bias toward cutting rates as the more likely next move.
Iran says reviewing latest US peace proposal as Trump holds on military action
Iran said it was reviewing the U.S.' latest position on ending the war, after President Donald Trump signaled earlier this week that he was prepared to delay military action in favor of a peace deal. Iran's Foreign Ministry said it had received the latest U.S. views and was reviewing them, according to local media reports. Negotiations with the U.S., through Pakistan, continued to take place, Iranian state media said. This comes after Trump said earlier this week that he had postponed a proposed military operation against Iran, and that negotiations with the country were going well. Trump also signaled that he was willing to wait a "few days" for a deal, but warned of more military action against Iran if a peace deal was not achieved. The U.S. president said the Iran war was in its "final stages."
Nvidia bets on new data center chips for growth as sales outlook tops estimates
Nvidia CEO Jensen Huang on Wednesday aimed to assure investors that the world's most valuable company can keep up its blockbuster growth with the help of a broad base of customers and that new products will help it beat the $1 trillion in sales it has forecast for its flagship AI chips. Shares fell 1.6% in extended trading, however, a sign that investors believe Nvidia will face tougher competition even though it forecast second-quarter revenue above Wall Street estimates and announced an $80 billion share repurchase program. Nvidia expects revenue of $91 billion, plus or minus 2%, compared with estimates of $86.84 billion, according to data compiled by LSEG. The company's results are largely considered a barometer for the AI market's health, as its chips are used in virtually every major data center in the world, powering the largest and most advanced AI models.
SpaceX aims for 10,000 annual launches within five years, FAA says
SpaceX aims to reach 10,000 launches annually within five years, but government officials will need to see improved reliability before approving such an expansion, the head of the Federal Aviation Administration said on Wednesday. FAA Administrator Bryan Bedford said he met with SpaceX President Gwynne Shotwell, who told him about the company's ambitious goal. SpaceX conducted 170 launches in 2025 deploying about 2,500 satellites. Bedford said Shotwell told him about the SpaceX five-year vision to get to 10,000 launches a year. In a Forbes video interview that aired this week, SpaceX CEO Elon Musk noted the company already has 10,000 satellites in orbit and eventually wants to launch 10,000 communications satellites per year, though he did not specify a timeframe.
NextEra to buy Quantum-backed energy firm Caliber, set up US shale JV, sources say
NextEra Energy has agreed to buy U.S. oil and gas investment firm Caliber Resource Partners for $1.3 billion and has separately set up a joint venture with Caliber's private equity backer, Quantum Capital Group, to manage the power company's U.S. shale assets, four sources told Reuters on Wednesday. The deal gives NextEra greater access to U.S. natural gas supplies just days after it announced a $67 billion deal to merge with Dominion Energy that would make it one of the world's largest electric utilities and suppliers of power to data centers. The data center boom is widely expected to raise demand for natural gas as a fuel for power generation. A subsidiary of NextEra will take over Caliber's assets, which include passive stakes in oil-and-gas producing assets spanning multiple onshore U.S. shale basins, the sources said.
Elf Beauty says Iran war could cost millions, beats Q4 earnings
Elf Beauty on Wednesday beat Wall Street estimates for its fourth quarter results but projected weak annual sales and profit in a sign that rising oil prices linked to the Iran war are affecting companies. The company said that the ongoing war could result in company seeing a $15 million to $20 million impact in its fiscal 2027. Shares of the cosmetics maker however, climbed about 6% in extended trading after the company reported fourth-quarter results that exceeded analyst estimates. The company joins other global firms affected by the U.S.-Israeli war with Iran, though it has not incorporated the anticipated impact into its current forecast.
