Market Wrap Summary - May 1, 2026

Key Highlights:

• BoJ Intervention: The Bank of Japan (BoJ) has reportedly conducted a foreign exchange intervention amounting to approximately 5.4 trillion yen. This intervention led to a temporary strengthening of the yen against the US dollar, although the US dollar is generally strengthening across the market.
• UK Manufacturing Data: The final reading of the UK Manufacturing PMI was reported at 53.7, surpassing both forecasts (53.3) and the previous reading (53.6). Despite this positive data, the UK100 (FTSE 100) index is experiencing a decline of about 0.5%, attributed to low liquidity conditions.
• Labor Day in Europe: Most European markets are closed in observance of Labor Day, resulting in significantly reduced trading activity and liquidity.
• US Market Outlook: Futures for US indices, including the S&P 500 and Dow Jones, are showing minimal gains or stabilization after reaching record highs in the previous session. Investors are reacting positively to strong earnings reports from major tech companies, including Apple.
• Gold Prices: Gold is experiencing a notable decline, trading around $4,565 per ounce, reflecting a loss of approximately 1.2% in value.
• Crude Oil Market: Oil prices initially gained but have since shown signs of reversal. WTI crude is down about 0.1%, while Brent crude is slightly up by less than 0.05%. The fluctuations are linked to month-end flows and adjustments in futures contracts.
• Cocoa Prices: Cocoa prices are pulling back after a strong performance the previous day, reaching their highest levels since mid-February, excluding recent futures rollovers.
• Bitcoin Performance: Bitcoin has strengthened by over 1%, reaching the $77,000 mark.
• Upcoming US Economic Data: The ISM Manufacturing Index for the US is set to be released at 4:00 PM CET, with expectations of a rebound to 53.1 from the previous level of 52.3. The price sub-index is anticipated to rise to 80, marking a significant milestone since mid-2022.

Overall, the market is navigating through a mix of positive economic data and geopolitical factors, with significant attention on the US economic indicators expected later today.