Economic calendar: Oil, Fed, jobless claims, and Wall Street earnings

Today Markets UAEJune 4, 2026

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The mood across global financial markets has cooled slightly following the previous session. The US500 closed at 7,550 points , bringing an end to an impressive nine-session winning streak . The catalyst for the pullback was escalating geopolitical tensions in the Middle East. Following reports that Iran had launched missiles toward Kuwait and Bahrain, US CENTCOM forces carried out retaliatory strikes against an Iranian control station on Qeshm Island . Brent crude stabilized around $97 per barrel , while WTI crude traded near $95.30 per barrel . Key releases from the Asian session

Strong improvement in Australia’s trade balance: Australia’s trade surplus reached AUD 1.791 billion in April, compared with expectations of AUD 1.230 billion and the previous month’s deficit of AUD -1.024 billion .
Sharp increase in Australian exports: Exports rose 7.2% m/m , while imports increased by just 0.8% m/m , providing significant support for the Australian dollar.
Higher commodity prices in New Zealand: The ANZ Commodity Price Index increased 0.7% m/m in May, following a 0.8% decline in April.
Comments from RBA officials: Governor Michele Bullock and Assistant Governor Christopher Kent signaled a cautious approach to monetary policy, while monitoring the impact of rising energy prices on domestic inflation.

Macroeconomic calendar

10:00 – Eurozone; Speech by ECB President Christine Lagarde
11:00 – Eurozone; Retail Sales YoY; Consensus: 0.3%; Previous: 1.2%
11:00 – Eurozone; Retail Sales MoM; Consensus: -0.3%; Previous: -0.1%
14:30 – United States; Initial Jobless Claims; Consensus: 214K; Previous: 215K
14:30 – United States; Continuing Jobless Claims; Consensus: 1.780M; Previous: 1.786M
16:30 – United States; Weekly Natural Gas Storage Change; Consensus: 99B; Previous: 92B
19:10 – United States; Public appearance by FOMC member Mary Daly

Earnings Calendar Today’s quarterly earnings releases from Wall Street and Asian markets will provide important insights into corporate spending on network infrastructure as well as consumer demand in the apparel and retail sectors. Before the US session opens, attention will focus on telecom equipment giant Ciena , whose results will offer a real-world gauge of the pace of AI-related optical networking deployments. After the close, investors will turn their attention to Lululemon Athletica , which continues to face margin pressure, and digital-signature pioneer DocuSign . Companies Reporting Earnings Before the market open