Market UpdatesMay 07, 20262 Min

Global Market Wrap: Asia Stocks Rally After Wall Street Records, Nikkei Hits Fresh Peak

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

Asian stocks rose sharply on Thursday, led by Japan, where the benchmark Nikkei 225 climbed 6% to cross the 63,000-mark for the first time. The rally came as investor optimism over a possible US-Iran peace deal boosted risk appetite across Asia-Pacific markets, even as tensions in the Middle East remained elevated.

In Australia, the S&P/ASX 200 rose 0.9% to 8,878. South Korea’s Kospi index gained 1.6% to 7,490, while Hong Kong’s Hang Seng index rose 1.6% to 26,642. Singapore’s Straits Times Index added 0.3% to 4,940.

On Wall Street, the S&P 500 and Nasdaq Composite closed at record highs on Wednesday, supported by hopes of easing tensions in the Middle East and strong earnings from Advanced Micro Devices. AMD’s results also lifted chipmakers and other AI-related stocks, extending the rally in the technology sector. The S&P 500 rose 1.5 % to close at 7,365.12, while the Nasdaq Composite gained 2.0 % to end at 25,838.94. The Dow Jones Industrial Average rose 1.2 % to end the session at 49,910.59.

Oil prices rose on Thursday in volatile trading. International benchmark Brent crude futures for July gained 0.4% to $102 a barrel, while US West Texas Intermediate futures for June rose 0.3% to $95 per barrel.

Gold prices were steady on Thursday, holding near a one-week high as investors awaited more clarity on a possible U.S.-Iran peace deal. Spot gold rose 0.7% to $4,709 per ounce, after climbing about 3% in the previous session to its highest level since April 27. US gold futures for June delivery also gained 0.4% to $4,713 per ounce. Spot silver also edged higher, rising 1% to $78 per ounce.

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

Anthropic, SpaceX sign compute deal exploring space-based data centres

Anthropic said on May 6 that it has struck an agreement with SpaceX to use the full compute capacity of the company’s Colossus 1 data centre in Memphis, Tennessee. Under the deal, Anthropic will gain access to more than 300 megawatts of computing power. The company also said it is exploring work with SpaceX on building multi-gigawatt compute capacity in space. Anthropic said the additional capacity will support its paid Claude Pro and Claude Max services.

SoftBank shares surge over 16% as AI rally lifts Japanese tech stocks

Shares of SoftBank Group surged 16.5% on Thursday as Japanese markets reopened after an extended holiday. The rally came as investors reacted to a global tech surge driven by artificial intelligence. SoftBank’s rise was supported by its exposure to AI-related assets, including stakes in Arm and OpenAI. Investors continue to see SoftBank as a key listed play on AI themes. The broader optimism is also tied to expectations of stronger demand for data centres, driven by AI inference and emerging agent-based systems.

Warner Bros Discovery streaming revenue rises on HBO Max overseas expansion

Warner Bros Discovery’s streaming division reported better-than-expected revenue growth for the quarter, supported by continued international expansion of HBO Max. The service now has more than 140 million subscribers worldwide. Despite the revenue increase, the company posted a wider first-quarter net loss of $2.92 billion. This included a $2.8 billion termination fee linked to the $110 billion merger involving Paramount Skydance and Netflix. While the fee was paid by Paramount Skydance, Warner Bros recorded it as an obligation under the agreement. Based on current figures, the combined streaming business would have more than 220 million subscribers, giving the merged entity greater scale to compete with Netflix and Disney.

DoorDash posts strong earnings, lifts order outlook as shares jump 12%

Food delivery giant DoorDash reported stronger-than-expected first-quarter earnings and issued upbeat order growth guidance. The company said it is continuing to invest in new technology to attract and retain customers. For the quarter, earnings per share came in at 42 cents, above analyst estimates of 36 cents, according to LSEG data. Revenue stood at $4.04 billion, slightly below expectations of $4.14 billion. For the current quarter, DoorDash expects marketplace gross order value to be between $32.4 billion and $33.4 billion.

Space analytics firm HawkEye 360 raises $416 million in US IPO

Space analytics company HawkEye 360 has raised $416 million in its US initial public offering. The Virginia-based firm sold 16 million shares at $26 each, the top end of its marketed range of $24 to $26 per share. The offering gives the company a valuation of about $2.42 billion. The IPO is also being closely watched as a test of investor appetite for space technology listings. Markets are awaiting a possible public filing from SpaceX, which could encourage more companies in the sector to tap equity markets. Founded in 2015, HawkEye provides signal intelligence data to defence, intelligence and national security agencies. HawkEye currently operates more than 30 satellites, with the U.S. government and allied countries contributing most of its revenue.

Disney beats earnings estimates as new CEO outlines growth plans

The Walt Disney Company reported quarterly earnings that beat estimates as new CEO Josh D’Amaro outlined his plans for the company’s next phase of growth. Speaking during Disney’s first-quarter earnings call, D’Amaro said the company would continue focusing on creative content, expanding its streaming business, strengthening its live sports offerings and investing in theme parks and cruise operations. D’Amaro took over as Disney CEO in mid-March, succeeding Bob Iger. He is leading the company at a time when consumers are shifting further towards streaming platforms and artificial intelligence is reshaping the media industry.

Sun Life posts higher quarterly profit helped by Asia and Canada growth

Canadian insurer Sun Life Financial reported higher first-quarter profit, helped by strong growth in its Asia business. Sun Life’s underlying net income from Asia rose 17% to C$216 million in the quarter, driven by stronger sales and growth in its Hong Kong business. Its Canada business also posted gains, with underlying net income rising 7% to C$370 million, supported by higher premiums, fee income and investment returns. The company reported underlying net income of C$1.89 per share for the quarter ended March 31, up from C$1.82 per share a year earlier. Founded more than 150 years ago, the Toronto-based company is Canada’s second-largest life insurer.

Hong Kong March retail sales rise nearly 13% on stronger consumer demand

Hong Kong retail sales rose 12.8% in March from a year earlier, marking the 11th straight month of growth, supported by gains across most retail categories. Retail sales by value reached HK$33.9 billion ($4.33 billion) during the month. That compared with a 19.3% rise recorded in February. Sales of motor vehicles saw particularly strong growth as buyers rushed to make purchases before tax concessions for electric private cars expired at the end of March. In volume terms, retail sales increased 9.8% year-on-year in March. For the first quarter of 2026, retail sales value rose 12.1% from a year earlier, while sales volume also increased 9.8%. A government spokesperson said the near-term outlook for retail sales remains positive, supported by recovering domestic demand, continued growth in inbound tourism and favourable economic conditions.

Henkel reports first-quarter organic sales growth in line with estimates

German consumer goods and adhesives maker Henkel reported a 1.7% rise in organic first-quarter sales on Thursday, in line with market expectations. The growth was supported by both of the company’s business divisions. Sales for the January-to-March period stood at 4.95 billion euros ($5.82 billion), down from 5.24 billion euros a year earlier on a reported basis. The figure matched analyst estimates compiled by Vara Research.

Novo Nordisk profit tops forecasts amid competition with Eli Lilly

Novo Nordisk reported first-quarter profit above market estimates and slightly raised its full-year outlook, supported by strong US sales of its new weight-loss pill. The Danish drugmaker is relying on the newly launched pill to expand its customer base as competition intensifies in the obesity drug market, particularly against rival Eli Lilly. Novo Nordisk is also looking to offset pressure on margins after reducing prices for its Wegovy weight-loss injection in the US last year.