06/06/2026
Weekly digest: Dow hits record as oil and gold feel the heat
1/8 - 📈 Dow hits record high. Wall Street was mixed as hopes of progress toward ending the Iran war lifted the Dow to a record close, helped by healthcare and financial stocks. The Nasdaq lagged, however, as Broadcom’s weak results weighed on chipmakers. (Reuters)
2/8 - 🛢️ Oil nerves ease slightly. Oil prices edged lower after Oman said operations at its Mina al Fahal export port were running normally, easing disruption fears. Still, crude is set for a weekly gain as stalled US-Iran talks and limited Strait of Hormuz traffic keep supply risks high. (Reuters)
3/8 - 🥇 Gold faces rate fears. Gold slipped to $4,469/oz on Friday, putting it on track for a weekly loss of about 1.6%, as stalled US-Iran peace talks kept oil-driven inflation fears alive and raised the risk of Fed rate hikes.
4/8 - 🇺🇸 US jobs slow but hold steady. US hiring is expected to have cooled in May, with economists forecasting 85,000 new jobs and unemployment steady at 4.3%. Low layoffs are keeping the labour market stable, giving the Fed room to hold rates while watching inflation risks from higher oil. (Reuters)
5/8 - 📉 AI rally hits pause. Asian stocks fell as investors took profits from tech shares after Broadcom’s results disappointed high AI expectations. South Korea’s tech-heavy Kospi slid sharply, showing how sensitive markets have become to any signs of cooling in the AI trade. (Reuters)
6/8 - 🚀 SpaceX IPO fever builds. Wall Street banks are hosting major events for wealthy clients ahead of SpaceX’s expected blockbuster IPO, with Elon Musk saying the company needs capital for a new growth phase. The listing could raise $75 billion and value SpaceX at around $1.75 trillion. (Reuters)
7/8 - ₿ Bitcoin treasury trade unravels. Shares in companies built to stockpile bitcoin have lost around $62 billion in market value as the crypto rout deepens. Some firms are restructuring, raising capital or even selling coins, shaking faith in a once-popular strategy for leveraged crypto exposure. (Bloomberg)
8/8 - 🕊️ US-Iran talks stall. The US and Iran made little progress on an interim peace deal after another week of clashes, with Tehran demanding a ceasefire in Lebanon before extending its truce and reopening the Strait of Hormuz. Trump said talks were in their “final” stages, but Iran said there had been “no tangible progress.” (Bloomberg)
