Chartstopper: Might 8, 2026 | Nasdaq

This Week

Hopes for a peace deal between the U.S. and Iran improved this week on experiences the pair is engaged on a one-page agreement to reopen the Strait of Hormuz and end fighting for 30 days to supply time to make a complete deal. That was sufficient to push down U.S. oil costs to $95 per barrel from $105 on Monday, whilst both sides attacked one another, whereas sustaining that the ceasefire is (nominally) intact.

However there have been main financial developments, too:

• One other signal the labor market is stabilizing: The economic system added +115,000 Jobs in April – almost double consensus estimates (+65,000) – together with +123,000 within the personal sector. This yr, the personal sector is averaging +86,000 Jobs per thirty days in comparison with +25,000 per thirty days final yr.
• Courtroom deems Trump admin’s 10% global tariff illegal: The Courtroom of Worldwide Commerce dominated in opposition to the short-term 10% international tariff the Trump admin applied to switch the illegal IEEPA tariffs. Not like the IEEPA choice, nonetheless, this was slim – solely impacting Washington State and two firms (although IT opens the door for others to sue). The Trump admin has already appealed.
• Nasdaq-100® on tempo for +45% YOY Q1 earnings progress with 80% of firms reporting.

So, with principally optimistic developments this week, the Nasdaq-100® rose +6% to a brand new file excessive, whereas 10-year Treasury yields fell a pair bp to 4.35%.

Subsequent Week

Listed below are the highest occasions I’m watching subsequent week:

• Monday: Senate vote to substantiate Fed Chair nominee Kevin Warsh
• Tuesday: CPI Inflation (Apr.), NFIB Small Enterprise Optimism (Apr.)
• Wednesday: Producer Value Inflation (Apr.)
• Thursday: Retail Gross sales (Apr.), Trump-Xi Assembly (Day 1)
• Friday: Industrial Manufacturing (Apr.), Trump-Xi Assembly (Day 2)