Markets Today (04 May 2026) at Open: Kapitales Morning Highlights from Wall Street to ASX

Headline

ASX 200 futures indicate a softer start, declining by 23 points (-0.26%), suggesting cautious sentiment at the open.
US markets continued their upward trajectory, with the S&P 500 and Nasdaq closing at fresh record highs, supported by technology stocks.
Investor sentiment remains mixed as strong earnings momentum is offset by geopolitical tensions and weakness in broader market participation.
Global Markets Overview

Index Level Change
S&P 500 7,230.00 +0.29%
Nasdaq Composite 25,114.00 +0.89%
Dow Jones 49,499.00 -0.31%
United Kingdom 10,364.00 -0.14%
S&P/TSX Composite 33,891.00 -0.22%
NZX 50 13,039.00 +1.05%
Nikkei (Japan) 59,513.00 +0.38%
India 76,914.00 -0.75%
Global markets delivered a mixed performance. US indices advanced, with the S&P 500 and Nasdaq extending gains to fresh highs, supported by strength in technology stocks. In contrast, the Dow Jones declined modestly, reflecting weakness in cyclical sectors. The United Kingdom market closed marginally lower, reflecting cautious sentiment, while Canada also recorded a slight decline.

Asia-Pacific markets were mixed, with Japan posting gains, whereas India closed lower. New Zealand also recorded a positive performance. The overall market trend reflects cautious investor sentiment amid persistent geopolitical and macroeconomic uncertainties.

Commodities & Crypto

Asset Price (US$) Change
Gold 4,612.5/oz -0.22%
WTI Crude 101.94/bbl -2.98%
Copper 5.93/lb +0.10%
Silver 76.71/oz +3.24%
Uranium 7,111.91 -2.02%
Bitcoin 79,084.00 +0.32%
Commodity markets traded on a mixed footing. Crude oil prices declined, reversing part of the recent upward momentum. Gold remained broadly stable, indicating a balanced safe-haven positioning. Silver outperformed, supported by both investment demand and industrial usage trends. Copper registered gains, reflecting steady but cautious expectations around global industrial activity. Uranium prices moderated following recent strength, while Bitcoin posted gains, suggesting resilience in digital asset sentiment.

Bond Yields

Indicator Yield Change
Australia 10-Year Bond Yield 5.025% -0.054 bps
Japan 10-Year Bond Yield 2.506% -0.011 bps
US 10-Year Bond Yield 4.357% -0.021 bps
US 30-Year Bond Yield 4.966% -0.020 bps
Global bond yields trended marginally lower across major markets, indicating a slight easing in rate expectations. US Treasury yields declined across the curve, reflecting a moderation in inflation concerns and a reassessment of the policy outlook by market participants. Australian bond yields also softened, broadly tracking global movements amid expectations around domestic monetary tightening.

Japan’s 10-year yield remained relatively stable, consistent with the Bank of Japan’s accommodative policy stance. Overall, the downward movement in yields suggests improving financial conditions, although uncertainty around inflation and central bank actions continues to influence market direction.

Key Drivers

Technology-led earnings momentum: US large-cap technology stocks continue to underpin broader market performance, supported by strong earnings delivery and sustained capital expenditure in artificial intelligence and cloud infrastructure. This trend is reinforcing long-term growth expectations, particularly across AI-linked segments.
Geopolitical developments influencing sentiment: Persistent tensions between the US and Iran continue to act as a key overhang for global markets. Uncertainty surrounding potential escalation and its impact on energy supply chains is contributing to heightened volatility across asset classes.
Energy market dynamics and supply outlook: OPEC+ will raise output by 188,000 barrels per day from June, marking its first move after the UAE’s exit, with the next meeting set for 7 June.
Stocks Trading Ex-Dividend
Bank of Queensland Limited (ASX: BOQ): Trading ex-dividend today with an interim dividend of AU$0.20 per share.
ASX Company News
National Australia Bank Ltd (ASX: NAB): NAB reported 1HFY26 cash earnings of AU$2,639 million and statutory net profit of AU$2,750 million, with underlying earnings of AU$3,588 million after adjusting for AU$949 million software-related charge. Revenue increased 3.1%, supported by lending growth and improved Markets & Treasury income, while Australian business lending rose 5.6%. Asset quality weakened slightly, with credit impairment charges rising to AU$706 million, alongside higher forward-looking provisions reflecting a cautious stance amid macroeconomic uncertainty.
Weebit Nano Ltd (ASX: WBT): The company announced that two customers have completed chip tape-outs using its ReRAM technology, representing a key step toward commercialisation. One customer has already developed a working prototype, indicating early-stage validation. These developments support Weebit’s 2026 objectives and signal progress toward potential mass production over the next 12–18 months, subject to further testing and qualification.
PYC Therapeutics Ltd (ASX: PYC): The company confirmed that clinical data from its Phase 1/2 trials for VP-001 and PYC-001 will be presented at the ARVO conference in the United States. These programs target rare genetic eye disorders, including Retinitis Pigmentosa and Autosomal Dominant Optic Atrophy, with both therapies positioned as potential first-in-class treatments addressing underlying genetic causes.
Key Economic Drivers (What to Watch Today)
Economic data (Australia): Building permits and job ads data today will provide signals on the housing market and employment trends.
Softness in crude oil prices: Energy markets are under pressure following incremental production increases from OPEC+, which may weigh on energy equities.
The RBA is expected to increase the cash rate by 25 basis points to 4.35% at its upcoming meeting, marking a third consecutive hike, as inflation rose to 4.6% in March, remaining well above the 2–3% target range.

Content Source : https://www.kapitales.com.au/articles/trending/markets-today-04-may-2026-at-open-kapitales-morning-highlights-from-wall-street-to-asx-040526


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