Oil Slides On Iran Deal Hopes | Open Interest 5/6/2026
Speakers
Lori Calvasina
— Head of U.S. Equity Strategy, RBC Capital Markets
Katy Kaminski
— Chief Research Strategist, AlphaSimplex Group
Mike McGlone
— Senior Commodity Strategist, Bloomberg Intelligence
Summary
Oil slides on hopes of a US-Iran deal, while tech stocks rally on AMD's blockbuster earnings and AI dealmaking. CEOs discuss how rising energy costs impact consumers and business investment. Markets reach new records amid geopolitical optimism and AI momentum.
- Oil drops below $100 on reports of US-Iran deal memo.
- AMD surges on strong data center forecast, boosting tech.
- Disney beats profit expectations, raises outlook.
- CEOs note consumer pressure from high gas prices.
- Companies manage through tariffs and supply chain.
- Dollar weakens, yen strengthens on intervention.
- S&P 500 and Nasdaq hit record highs.
- AI investment continues with Anthropic-Google deal.
Trade Ideas
Favor large cap growth over value.
Large cap growth stocks are favored over large cap value because earnings growth expectations support the valuation premium, and the relative PE moves in line with relative earnings growth. The market's concentration in top names is justified by earnings.
Short yen, intervention not enough.
The yen has been weakening and the Bank of Japan's interventions may not be enough to change the trend, so being short the yen is a valid trade. The dollar has been strong, and yen weakness has been a persistent trend.
Up Next
This Bloomberg Markets video, published May 06, 2026, features Lori Calvasina, Katy Kaminski discussing Large Cap Growth, USD/JPY. 2 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Lori Calvasina, Katy Kaminski · Tickers: Large Cap Growth, USD/JPY