Market UpdatesJun 01, 20262 Min
Global Market Wrap: Oil Climbs As Middle East Crisis Intensifies; Nvidia CEO Dominates Computex
We are back with quick updates on global stock markets and major developments across some of the top companies worldwide.
Asia-Pacific markets traded mixed on Monday. South Korea's Kospi bucked the cautious mood to close higher even as renewed Middle East hostilities rattled broader sentiment. Meanwhile, the rise in oil prices renewed concerns that clashes with the Iran-backed Hezbollah group could threaten a fragile ceasefire between the US and Tehran.
South Korea's Kospi gained 3.5% to 8,788. While Japan's Nikkei 225 rose 1% to 67,005. In Australia, the S&P/ASX 200 shed just 0.03% to close flat at 8,729. Meanwhile, Hong Kong’s Hang Seng Index gained 1% to 25,435, and Singapore’s Straits Times Index was up by around 0.9% to 5,037.
On Wall Street, US equities rounded off May in record territory, powered by technology and AI enthusiasm. All three major benchmark indices closed at all-time highs on Friday. The Nasdaq Composite settled up 0.2% at 26,972, while the S&P 500 climbed 0.2% to 7,580. The Dow Jones Industrial Average finished 0.7% higher at 51,032.
On a monthly basis, the Nasdaq jumped more than 8%, the S&P 500 advanced about 5%, and the Dow Jones Industrial Average rose nearly 3%.
Oil prices surged on Monday, amid dramatic escalation in Lebanon. Brent crude futures, the international benchmark, gained ~3% to $93 a barrel. WTI futures too rose ~3% to $90 per barrel.
Here's a look at some of the important developments across global markets:
Berkshire Hathaway Bets $8.5 Billion On US Housing With Taylor Morrison Deal
Berkshire Hathaway has agreed to acquire homebuilder Taylor Morrison Home Corp for $6.8 billion in cash. Factoring in debt, the deal's enterprise value hits $8.5 billion. The acquisition marks one of the first major strategic deals under Warren Buffett's successor Greg Abel, who took over as CEO at the start of 2026.
Nvidia's Jensen Huang Kicks Off Computex 2026 With a Bang In Taipei
Nvidia CEO Jensen Huang, at the Computex 2026 event at the Taipei Music Hall, declared that agentic AI and "useful" AI have arrived. He also dismissed the notion of AI killing jobs as "complete nonsense." In a line that captured the room, he said, "AI is now a profit generator. AI is now a GDP generator."
Powell Sounds The Alarm On Fed Independence In First Post-Chair Remarks
Former Federal Reserve Chair Jerome Powell warned on Sunday about the impact of a politicised Fed. Powell also made a broader call for the defence of democratic institutions in his first public remarks since the end of his eight-year stint as the head of the central bank.
Powell's term as chair formally ended on May 15. His successor, Kevin Warsh, was sworn in as Fed chair on May 22. Powell has decided to continue as a Fed governor in part because of what he regards as ongoing threats to the Fed's independence.
SoftBank To Pump Up To €75 Billion Into French AI Data Centres
SoftBank Group plans to invest as much as €75 billion ($87 billion) to build 5 gigawatts of artificial intelligence data centre capacity in France.
The first phase comprises an initial €45 billion ($53 billion) investment to deliver 3.1 GW of AI data centre capacity by 2031.
SoftBank's shares have risen more than 70% in 2026 so far on expectations that its investments in AI infrastructure will reap big rewards.
Japan PM Takaichi's Budget Language Puts Bond Markets On Edge
Japanese Prime Minister Sanae Takaichi is compiling a supplementary budget to help households with the cost of living. The budget was largely in line with market expectations at about 3 trillion yen ($19 billion), but comes as Japan still struggles with higher energy prices, rising subsidy costs, and a weak yen.
