Daily News
Nikkei Tops 62,000 as U.S.-Iran Peace Talks Spark Global Market Rally
07 May 2026
Today in Brief
Global markets surged as reports of a U.S.-Iran memorandum of understanding lifted sentiment, with Japan's Nikkei 225 topping 62,000 for the first time and the S&P 500 posting its first close above 7,300.
In corporate headlines, Anthropic and SpaceX announce a major compute deal, AMD shares hit a record high sparking a global chip rally, and Uber forecasts strong second-quarter bookings despite Middle East headwinds.
Japan's Nikkei 225 tops 62,000 for the first time as Asia markets look past Trump's Iran threats
Japan stocks rose more than 5% on Thursday, with the benchmark Nikkei 225 hitting 62,000 for the first time as Asia-Pacific markets rallied despite renewed tensions in the Middle East. The broader regional advance came after President Donald Trump warned Iran would be bombed "at a much higher level" if it failed to agree to a peace deal. The Nikkei 225 advanced 5%, led by gains in basic materials, technology and financial stocks. Shares of index heavyweight Softbank surged more than 13%. Electronics company Ibiden was the top performer, climbing 17%, while manufacturing and metals company Mitsui Kinzoku gained 16%. Renesas Electronics also added 13%, and chemical and materials firm Tosoh Corporation soared 12%.
Dow surges 600 points, S&P 500 posts first close above 7,300 as traders hope for Iran deal
Stocks rose on Wednesday following a report that the U.S. and Iran were nearing an agreement to end the war. The S&P 500 advanced 1.46% to 7,365.12, while the Nasdaq Composite gained 2.02% and ended at 25,838.94. Both indexes touched new highs and closed at records. The Dow Jones Industrial Average added 612.34 points, or 1.24%, to close at 49,910.59. Axios reported, citing sources, that the U.S. and Iran were getting close to a deal that would bring a resolution to the conflict. According to the report, the agreement would include a moratorium on nuclear enrichment. An Iranian foreign ministry spokesperson also told CNBC that Iran was evaluating a U.S. proposal toward a resolution.
Gold traded near $4,700 an ounce on Thursday after rising roughly 3% in the previous session
Gold traded near $4,700 an ounce on Thursday after rising roughly 3% in the previous session, as hopes for a US-Iran agreement triggered a sharp decline in oil prices and helped ease inflation worries. Reports indicated that the US had sent a one-page memorandum of understanding through Pakistani mediators aimed at formally ending the conflict and potentially allowing the gradual reopening of the Strait of Hormuz. Tehran is expected to respond in the coming days after confirming it was reviewing a US peace proposal, while more comprehensive negotiations over Iran's nuclear program are reportedly expected later. Oil prices tumbled, easing concerns over inflationary pressures and reducing expectations that central banks would need to maintain restrictive policies for longer.
WTI crude futures stabilized above $95 per barrel on Thursday
WTI crude futures stabilized above $95 per barrel on Thursday after tumbling as much as 13.3% to $88.66 in the previous session, as investors weighed the prospects for a Middle East peace deal. Reports suggested that the US sent a one-page memorandum of understanding through Pakistani intermediaries aimed at formally ending the conflict and paving the way for the gradual reopening of the Strait of Hormuz. Tehran is expected to respond within days after confirming it was reviewing the US proposal, although broader negotiations surrounding Iran's nuclear program are reportedly set to take place later.
Trump says Iran will be bombed at a 'much higher level' if it doesn't agree to peace deal
President Donald Trump on Wednesday said Iran will be bombed "at a much higher level" if it doesn't agree to a peace deal, raising tensions even as news outlets reported that Washington and Tehran are nearing an agreement to end the war. Trump in a Truth Social post said the U.S. military offensive known as Operation Epic Fury "will be at an end" if Iran "agrees to give what has been agreed to, which is, perhaps, a big assumption." If that happened, the U.S. naval blockade of Iranian ports in the Gulf of Oman would "allow the Hormuz Strait to be OPEN TO ALL, including Iran," Trump wrote. But "if they don't agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before," he added.
China presses Iran against resuming war, urges Hormuz reopening ahead of Trump-Xi summit
China pressed Iran on Wednesday to pursue a diplomatic resolution to the Middle East conflict and refrain from resuming hostilities, as Beijing seeks to cement its position as a key mediator ahead of a high-stakes summit with the U.S. In a meeting with his Iranian counterpart Abbas Araghchi, Chinese foreign minister Wang Yi called for "an immediate end to the hostilities" while urging warring powers to continue diplomatic negotiations. China also called for a "prompt resumption of shipping traffic through the Strait of Hormuz," though that point was absent in a statement posted by Iran's foreign ministry on Telegram. The meeting marked the first such visit by Araghchi since the outbreak of the U.S.-Israel war on Tehran on Feb. 28, and came just days before U.S. President Donald Trump's scheduled visit to Beijing.
Japan signals it will act without limit to defend yen, in daily contact with US
Japan faces no constraints on how often it can intervene in currency markets and is in daily contact with U.S. authorities, its top currency diplomat said on Thursday, reinforcing Tokyo's readiness to step into the market to prop up the yen. The remarks by Atsushi Mimura, the vice finance minister for international affairs, came ahead of a visit to Tokyo next week by U.S. Treasury Secretary Scott Bessent, who is expected to discuss yen moves with his Japanese counterpart, Satsuki Katayama. Mimura declined to comment on Bessent's visit but said he remained in daily contact with U.S. authorities, adding that his counterparts "fully understand our thinking and our actions." "Our focus, consistently and without change, is directed in all directions," he told reporters, stressing that Tokyo continues to see speculative moves in the currency market.
Iran to respond to US proposal by Thursday, CNN reports
Iran is expected to give mediators its response to a U.S. proposal to end the war by Thursday, CNN reported, citing a regional source. The report comes after Axios earlier reported that the U.S. and Iran were nearing a one-page memorandum to end the war and set a framework for more nuclear talks. Both U.S. and Iranian officials had flagged some progress in Pakistan-brokered negotiations earlier this week, especially after the U.S. paused an operation to restore commercial traffic through the Strait of Hormuz. U.S. President Donald Trump also flagged "very good talks" with Iran earlier this week.
Anthropic, SpaceX announce compute deal that includes space development
Anthropic on Wednesday announced a deal with Elon Musk's SpaceX to use all of the compute capacity at his company's Colossus 1 data center in Memphis, Tennessee. As part of the agreement, Anthropic will get access to more than 300 megawatts of compute capacity, and it also "expressed interest" in working with SpaceX to develop multiple gigawatts of compute capacity in space. Anthropic said the deal will directly improve capacity for its paid Claude Pro and Claude Max subscribers. The deal comes after Musk, who merged SpaceX with his competing AI startup, xAI, this year, has repeatedly criticized Anthropic because of its clash with the U.S. government. Musk has said Anthropic is "doomed to become the opposite of its name," which would be misanthropic, and has asked if there's a "more hypocritical company than Anthropic." "Anthropic hates Western Civilization," Musk wrote in February.
Arm forecasts higher-than-expected revenue on surging AI data center demand
Arm Holdings forecast first-quarter revenue above Wall Street expectations on Wednesday, benefiting from higher adoption of its chip technology as tech companies spend heavily on artificial intelligence compute. Arm shares jumped 12% in after-hours trading, but reversed course to drop 5.49% after executives told analysts on a conference call that they have not yet secured supplies to meet the demand for a new chip and after analysts probed about the costs of getting into the business of making its own chips. The company expects quarterly revenue of $1.26 billion, compared with analysts' estimates of $1.25 billion, according to data compiled by LSEG. Arm generates revenue by licensing its technology to companies such as Nvidia and Apple, collecting royalty payments for every product built using its designs.
Uber forecasts strong second-quarter bookings despite Middle East woes
Uber Technologies forecast second-quarter bookings above Wall Street estimates on Wednesday on strong demand for ride-hailing and delivery services, even though the Middle East conflict weighed on its growth. Shares of the San Francisco-based company rose about 7%. The strong forecast is a sign that the company's strategy of keeping prices steady while pushing into higher-margin areas such as its platform for businesses are paying off, helping it navigate higher fuel costs and geopolitical tensions. Strong delivery demand in international markets, including Australia, and expansion into new geographies such as Denmark have also helped power growth.
AMD shares hit record high, spark global chips rally on AI demand optimism
Advanced Micro Devices' shares jumped to an all-time high on Wednesday as its strong outlook boosted investor confidence about sustained demand for AI infrastructure, sparking a rally across global semiconductor stocks. AMD jumped 14.9% and was set to add more than $86 billion in market value, if gains hold. Rival Intel also rose 1.9% to a record high, while chip designer Arm Holdings surged 10.1% and chipmaker Qualcomm gained 1.6%. Analysts and investors see AMD as a leading challenger to Nvidia's dominance in AI chips, with the company also seen benefiting from its focus on CPUs. Like rivals Nvidia and Intel, AMD late on Tuesday said a shift toward "inference," where AI models are deployed in real-world applications, is opening up fresh opportunities for its server CPUs.
