Trade Secrets: Dailies 05.19.2026

US stock futures traded flat as Wall Street weighed inflation concerns and counted down to Nvidia’s (NVDA) earnings.
Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) hugged the flat line.
In day trading, stocks closed mixed as rising oil prices and bond yields added to worries that inflation could become serious enough for the Federal Reserve to consider hiking interest rates.
Meanwhile, the resolution of the US-Iran war remained elusive. President Trump said Monday that “serious negotiations” are taking place and, at the request of Gulf allies, he had halted military action against Iran that was scheduled to take place on Tuesday.
The release of Nvidia (NVDA) earnings on Wednesday is the focal point of the week. Investors’ expectations for the world’s most valuable company are sky high. Moreover, Nvidia is a bellwether for the AI trade, which has become increasingly important in propping up markets amid inflation and geopolitical uncertainty.
Asian stocks were mixed on Tuesday as technology shares tracked overnight losses on Wall Street, while investors assessed stronger-than-expected Japanese economic growth data and monitored developments in the Middle East conflict.
Wall Street’s technology-heavy Nasdaq ended lower overnight amid inflation concerns from elevated oil prices.
U.S. stock index futures also edged lower in Asian trading on Tuesday.
AI-linked chip stocks also faced profit-taking ahead of quarterly earnings from Nvidia (NASDAQ:NVDA) due on Wednesday, seen as a major test for the sustainability of the artificial intelligence-driven rally.
Japan’s economy expanded an annualised 2.1% in the first quarter, above forecasts for 1.7% growth, supported by firmer private consumption and external demand.
Capital expenditure rose 0.3% quarter-on-quarter, while the GDP price index increased 3.4%, underscoring persistent inflation pressures.
Still, analysts expect that GDP growth will grind to a halt this quarter and next.
Japan's Nikkei 225 fell 0.4%, while the broader TOPIX index gained 0.5%.
Oil prices eased slightly on Tuesday after U.S. President Donald Trump said he was pausing a planned military strike on Iran and that there was “a very good chance” of reaching a nuclear agreement with Tehran.
Brent crude slipped from recent highs above $110 per barrel, although prices remained elevated amid continued supply disruptions in the Strait of Hormuz.
The move spurred gains in some markets, with Australia's S&P/ASX 200 jumping 1.1%, and Singapore's Straits Times Index rising 0.6%.
However, most major stock markets were subdued, with tech shares leading losses.
China's blue-chip Shanghai Shenzhen CSI 300 fell 0.6%, while the Shanghai Composite index traded flat.
Hong Kong's Hang Seng index also traded largely unchanged.
Futures tied to India's Nifty 50 edged down 0.3%.
South Korea's KOSPI index traded 3% lower, after dropping as much as 5% earlier in the session.
Samsung Electronics (KS:005930) shares retreated more than 5% as the company and its labour union resumed negotiations on Tuesday after talks a day earlier failed to produce an agreement.
Investors remained cautious over the risk of a planned strike later this week, which could disrupt semiconductor production. Reports said a South Korean court had warned the union of fines if it failed to comply with court orders related to industrial action.

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This daily briefing is curated from a wide range of reputable sources including news wires, research desks, and financial data providers. The insights presented here are a synthesis of key developments across global markets, intended to inform and spark thought.

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