Global stocks rise as US-Iran tensions ease and AI boosts tech

On May 6, 2026, global stocks climbed after diplomatic signals reduced US-Iran tensions, oil prices retreated from recent highs but remained above $100 a barrel, and AI-related earnings lifted large technology and semiconductor companies.

Investors rotated into tech, chipmakers and cyclical sectors as the S&P 500 and Nasdaq closed at record levels. A softer US dollar and steadier Treasury yields supported demand for risk assets across markets from New York to Tokyo.

Diplomatic statements that Hormuz operations would pause and suggestions an Iran agreement could be near reduced the geopolitical risk premium. That easing helped crude oil pull back from earlier peaks, easing some inflation worries tied to energy costs.

Corporate forecasts for 2026 were revised higher for major cloud, AI infrastructure and semiconductor suppliers, reflecting elevated capital expenditure on AI hardware. Flows favored markets linked to semiconductor production in Taiwan and South Korea.

In Asia, Nikkei futures reached fresh highs, the ASX 200 gained about 1%, the China A50 approached a near four-year high and the Hang Seng recovered lost ground. The Australian dollar strengthened toward a 52-week high near 0.7230, supported by hawkish guidance from the Reserve Bank of Australia and improved investor sentiment.

Fixed-income markets reflected reduced energy-driven risk. Sovereign yields stabilized and high-yield credit conditions improved as investors increased exposure to riskier assets.

Technical analysis of Japan’s Nikkei showed the short-term uptrend intact above a key support near 60,075, with hourly momentum in overbought territory. Analysts noted that an hourly close below 60,075 could lead to a corrective slide toward supports around 59,050 and 58,545, while resistance sits near 62,044 and the 62,794–63,138 zone.

Market participants will watch upcoming economic releases for further direction, including final S&P Global Services PMI readings for the eurozone and the U.K., the US ADP private payrolls report ahead of Friday’s nonfarm payrolls, and the US EIA weekly crude oil inventory report.

The market summary and technical observations were reported by OANDA’s MarketPulse team. Kelvin Wong, senior market analyst at OANDA, contributed the analysis for MarketPulse.