Weekly market outlook
Oil's collapse dominated last week as Iran peace talks sent crude tumbling over 10%, lifting risk appetite and pushing US indices to fresh highs. This week, I'm watching whether equities can hold these gains or if profit-taking kicks in ahead of the summer months.
Last week's risk-off tone carried into the close, with US indices pulling back from recent highs and the dollar flexing its muscles across the board. This week, I'm watching whether US30 can hold structural support around 49,300 or if we're due for a deeper retracement as geopolitical noise and inflation concerns keep traders defensive.
US tech staged an impressive comeback last week with NAS100 surging over 5%, while energy markets exploded higher on escalating Middle East tensions. This week, I'm watching whether the Dow can reclaim 50,000 and if crude's rally has legs — or if we're due for a sharp reversal.
US indices closed last week with modest gains despite significant volatility in energy markets, as geopolitical tensions around the Strait of Hormuz continue to dominate headlines. This week, I'm watching whether tech can sustain its momentum above key levels whilst oil stabilises — the setup favours selective long exposure, but risk management remains critical.
This week brings a historic earnings gauntlet — five of the Magnificent Seven report — alongside stalled Iran peace talks keeping oil volatile and geopolitical risk elevated.