Market UpdatesMay 15, 20262 Min

Global Market Wrap: Asia Markets Decline As Trump-Xi Talks Enter Second Day, Oil Rises, Gold Trades Lower

We are back with quick updates about global stock markets and major developments across some of the top companies worldwide.

Broader Asia-Pacific markets traded lower on Friday as investors tracked the second day of talks between US President Donald Trump and Chinese President Xi Jinping.

South Korea’s Kospi crossed the 8,000-mark for the first time earlier in the session before giving up the gains to decline 6.1% at 7,493. Japan’s Nikkei 225 slipped 1.6% to 61,649, while Hong Kong’s Hang Seng Index was down 1.5% at 25,969. Singapore’s Straits Times Index was marginally down by 0.08% to 4,992, while Australia’s S&P/ASX 200 edged 0.12% lower to 8,630.

Overnight on Wall Street, the Dow Jones Industrial Average gained 0.75% to close at 50,063.46. The S&P 500 gained 0.77% to end at 7,501.24, while the Nasdaq Composite advanced 0.88% to close at 26,635.22.

Oil prices rose after Trump said China had agreed to buy oil from the US. Brent crude futures gained 1.4% to $107 a barrel, while US West Texas Intermediate crude rose 1.9% to $103 per barrel.

Gold prices declined, with spot gold falling for a fourth straight session. Spot gold was down 1% at $4,601 per ounce, while US gold futures for June delivery declined 1.8% to $4,603 per ounce. Spot silver was down by 5.9% at $78 per ounce.

Here’s a look at some of the important developments across the global markets:

Anthropic Nears $30-Billion Fundraising At $900-Billion Valuation: Report

Anthropic has reportedly agreed to terms for a $30-billion fundraising round that would value the AI startup at around $900 billion. The proposed valuation is nearly three times higher than the company’s valuation just three months ago.

SpaceX May Release IPO Prospectus Next Week

SpaceX, which confidentially filed for an IPO in April, is expected to publicly release its prospectus as early as next week. The company is preparing for what could become one of the largest IPOs in recent years after it was valued at $1.25 trillion in February, following its merger with xAI.

Cerebras Surges 68% In Nasdaq Debut, Valued At $95 Billion

Cerebras Systems surged 68% in its Nasdaq debut on Thursday, closing at $311.07 after pricing its IPO at $185 per share – significantly above the expected range. The strong market debut valued the chipmaker at around $95 billion. The company sold 30 million shares in the offering late Wednesday, raising $5.55 billion.

Japan’s Q1 GDP Likely Rose On Firm Exports

Japan’s economy is expected to have expanded for a second consecutive quarter in January-March, supported by recovering exports and steady domestic demand. The median forecast of 17 economists projected Japan’s real GDP to grow 1.7% on an annualised basis in the first quarter, following a 1.3% expansion in the previous quarter. On a quarter-on-quarter basis, the economy is estimated to have grown 0.4%.

Eneos Holdings To Buy Chevron’s Singapore Refinery Stake For $2.2 Billion

Eneos Holdings is set to acquire Chevron’s 50% stake in Singapore Refining Company and other assets across Southeast Asia and Australia for nearly $2.2 billion. The deal marks Eneos’ first refining investment outside Japan. The acquisition includes Chevron’s assets in Vietnam, Australia, the Philippines and Malaysia.

UK Q1 GDP Expands 0.6% On Strong Start To Year

The United Kingdom’s economy unexpectedly expanded in March, ending a strong first quarter despite rising geopolitical tensions linked to the Iran war. Gross domestic product grew 0.3% month-on-month in March. For the first quarter as a whole, the UK economy expanded 0.6%.

Canada, Alberta To Discuss New Oil Pipeline Project

Canada and the energy-producing province of Alberta are set to meet on Friday (May 15) to advance discussions on a potential pipeline project, Prime Minister Mark Carney said. The proposed pipeline could transport at least one million barrels of Alberta oil per day to new markets.