Market Overview - June 1, 2026

Economic Calendar Highlights

European indices have opened the month of June on a positive note, buoyed by strong performances from tech giants Nvidia and Microsoft. Despite a general appetite for risk among investors, geopolitical tensions in the Strait of Hormuz are creating a cautious atmosphere.

Market Performance

European indices are showing modest gains, with the EU50 index up by 0.43%, ITA40 by 0.24%, and NED25 by 0.22%. Germany's DE40 and France's FRA40 are also experiencing solid increases of 0.18% and 0.21%, respectively. However, the VSTOXX, which measures European volatility, is slightly down by 0.25%, indicating a mixed sentiment in the market.

Global Market Sentiment

Overall, the global market sentiment is positive, with energy commodities leading the charge. Natural gas prices have risen by 2.56%, while WTI crude oil is up by 2.43%. This surge is attributed to escalating tensions between the U.S. and Iran, particularly in the Strait of Hormuz, where U.S. Navy operations are limited. Asian markets are also reflecting this optimism, with the JP225 index up by 1.43% and CHN.cash by 1.16%. U.S. indices are signaling potential new records following a strong performance in May, with the Nasdaq up 8% and the S&P 500 up 5.2%.

Today's Economic Reports

The economic calendar for today is dominated by Manufacturing PMI readings from various countries:

• China (Caixin): Released at 51.8, slightly below the previous 52.2 but still in expansionary territory.
• Poland Q1 GDP: Expected at +3.4% y/y, down from +4.1% y/y.
• Germany Manufacturing PMI: Forecast at 49.9, indicating contraction.
• Eurozone Manufacturing PMI: Expected at 51.4.
• U.S. ISM Manufacturing: Scheduled for 4:00 p.m., forecast at 53, up from 52.7.

Additionally, Swiss Q1 GDP was released at +0.7% q/q, surpassing the forecast of 0.6%.

Market Drivers

Key factors influencing the market today include:

• U.S.–Iran Geopolitics: Ongoing tensions in the Strait of Hormuz are affecting oil prices significantly.
• COMPUTEX Taipei & Microsoft Build: Nvidia's unveiling of new chips is generating excitement in the tech sector.
• ISM Manufacturing Data: This report is crucial as it provides insights into the economic landscape ahead of the upcoming Non-Farm Payrolls (NFP) report.
• Oil and Gas Prices: With WTI nearing $90, any developments in the Persian Gulf could lead to market volatility.