From Yahoo Finance: 2025-05-05 06:17:00

Global markets started the week quietly due to holidays in key countries, but oil prices fell over 2% after OPEC+ decided to increase production. Shareholders of Berkshire Hathaway are concerned about Warren Buffett’s departure, while Trump announced a 100% tariff on foreign movies. Trump also criticized Fed Chairman Jerome Powell but pledged not to remove him. Anthony Albanese secured a second term as Australia’s Prime Minister.

Oil prices dropped over $1 a barrel as OPEC+ plans to boost output, raising concerns about oversupply amid uncertain demand. Investors are watching the upcoming Fed and Bank of England meetings to gauge economic outlook amid trade tensions. Trump revealed trade talks with China, aiming for a fair deal. Market optimism rose over potential US-China trade resolution.

Taiwan dollar surged against the US dollar, sparking speculation of currency manipulation to gain trade concessions. The currency’s 3% jump fueled talks of Asian countries strengthening their currencies against the dollar. However, Taiwan denied discussing exchange rates in tariff talks with the US. April’s payrolls report showed slight declines in federal government employment, with expectations of further drops after September.

Upcoming events include US service sector surveys, employment data, and corporate earnings reports from companies like Ford, Tyson Foods, and Clorox. The US Treasury is set to sell $58 billion of 3-year notes. Investors are keeping a close eye on these events to gauge market trends.



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