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The weekend that changed the tone of the markets The start of the week for financial markets was dominated by a single variable: the Strait of Hormuz. After weeks in which oil, interest rates, and stock markets lived to the rhythm of the Middle East war, between Saturday and Monday, investors began to price in a more favorable scenario: a possible agreement between the United States and Iran to reopen the most sensitive sea passage for global energy. Donald Trump hinted that

Asia is weak as markets await AI's verdict. The second half of the week began with a cautious signal from Asia. The MSCI Asia-Pacific ex-Japan index fell 0.7% on Wednesday, marking its fourth consecutive session of decline, while the Japanese Nikkei fell 1.5% , its fifth straight decline. The message was clear: ahead of Nvidia's results, the market was reluctant to overexpose itself. The problem wasn't just technological, but also macroeconomic: US yields had rebounded sharpl

The weekend that reignited risk premiums The start of the week for financial markets began with a clear feeling: diplomacy still exists, but geopolitical risk has by no means abated. In the Gulf, clashes linked to Iran continued to affect the region's energy and financial heartland. The United Arab Emirates declared that drones had targeted the area near the Barakah nuclear power plant, while Saudi Arabia announced it had intercepted three drones from Iraqi airspace. This is

A week ended with more questions than answers. The second half of the week brought financial markets back to a fragile equilibrium: on the one hand, macroeconomic data still capable of positive surprises; on the other, the simultaneous return of three very concrete pressures: high oil prices, rising bond yields, and geopolitical risk in the Strait of Hormuz. The result was a movement typical of mature market phases: indices remain near their highs, but it doesn't take much to

A weekend where the risk did not go away The start of the week for financial markets began with a clear feeling: geopolitics is no longer just a backdrop, but a variable that directly impacts the prices of oil, bonds, currencies, and stocks. Between Friday and the weekend, the most sensitive point came from the Persian Gulf: according to a CIA assessment reported by Reuters, Iran could withstand a US naval blockade for about four months before experiencing truly severe econom

The week ends with a market that buys technology and hope The second half of the week revealed a financial market still willing to look beyond the geopolitical noise, but not to ignore it. On the one hand, Wall Street updated its all-time highs, Asia continued to rally thanks to semiconductors, and the FTSE MIB hit new records. On the other, the Strait of Hormuz remained the nerve center of global risk: the United States and Iran continued to trade blows, while diplomacy atte

The weekend when politics started moving prices again The weekend of May 2-3 brought a difficult combination of trade war, energy risks, and military diplomacy back to the forefront of markets. Donald Trump confirmed his intention to raise tariffs on European cars and trucks to 25% , compared to the previous agreement, which had set an overall threshold of around 15% . This is a politically charged step for Brussels: the Commission rejected the American accusation of non-comp

Three days in which the market chose to look beyond the risk Between Wednesday, April 29th, Thursday, April 30th, and Friday, May 1st, financial markets experienced an almost symbolic sequence: on one side, the US-Iran war, oil prices above $100, European inflation rising, and the Fed still stuck; on the other, Wall Street was able to revise all-time highs, buoyed by corporate earnings and the strength of the technology sector. It was a week in which the market decided not to

A weekend where diplomacy counted more than budgets Between the weekend and the trading sessions on Monday, April 27th and Tuesday, April 28th, financial markets experienced a seemingly contradictory phase: Wall Street reached new highs, but beneath the surface, oil, rates, the dollar, and safe-haven assets began to move again. The common thread was once again the Middle East. On Saturday, Trump canceled the trip to Pakistan by US envoys Steve Witkoff and Jared Kushner, deemi

Three days in which the market bought hope, but priced risk Between Wednesday, April 22nd and Friday, April 24th, financial markets experienced one of those classic weeks where the apparent direction of the indices only tells half the story. On the one hand, Wall Street continued to show strength, with the S&P 500 and the Nasdaq capable of closing at new all-time highs. On the other, oil, emerging market currencies, UK inflation, and tensions in the Strait of Hormuz reminded

Between Saturday 18th, Monday 20th and Tuesday 21st April the market returned to look at one thing above all: energy Within hours, the Strait of Hormuz once again became the dominant theme. After a brief reopening on Friday, the passage was effectively blocked again, while tensions between Washington and Tehran rose along with the military threat. The numbers clearly explain why the markets reacted immediately: on Tuesday, only three ships passed through the strait in the la

Wednesday: Maximum pressure on Iran, but Wall Street looks beyond On Wednesday, the market began to price in a specific scenario: the United States increased pressure on Tehran, effectively cutting off its maritime trade, but the White House continued to filter optimism about new talks. Trump said the war was "near the end," while Reuters reported a possible return to negotiations in Pakistan as early as this weekend. The result was a less fearful market than expected: the S&

A scene often repeats itself in the markets: outside, in the real world, the climate remains gloomy; inside, however, a powerful, almost violent rebound takes place. At first glance, it seems illogical. If macroeconomic data remains fragile, if oil is still high, if interest rates aren't helping, and if businesses and consumers continue to act cautiously, why on earth would stocks rally? In reality, there's nothing mysterious about it: the financial market and the real econom

The markets' weekend began with diplomatic hope and ended with a still-very-high risk premium. The start of talks between the United States and Iran in Pakistan had given the impression that, after weeks of tension, a credible glimmer of hope might emerge. But Saturday's talks ended without an agreement, and that was enough to put the most important variable back at the center: the Strait of Hormuz. Approximately 20% of the world's crude oil transported by sea passes through

After the relief seen midweek, the sessions on Thursday, April 9th and Friday, April 10th, 2026, reminded investors that the problem is far from resolved. Markets attempted to maintain a positive tone, but with less conviction: yesterday on Wall Street, the Dow Jones closed at +0.58% , the S&P 500 at +0.62% , and the Nasdaq at +0.83% . Today, the picture became more uncertain, with the Dow down 0.56% , the S&P 500 at -0.11% , and the Nasdaq at +0.35% . In Europe, the

Over the Easter weekend and the first three trading days of the week, markets exhibited a near-suspended behavior, as if for a few days they had stopped making economic forecasts and were limited to calculating just one thing: the likelihood of the crisis between the United States and Iran escalating further. On Friday, April 3, Wall Street remained closed for Good Friday, while on Monday, April 6, several European markets, including London, were still closed for Easter Monda

The week ended with a global market still dominated by uncertainty, where the difference was not so much macroeconomic data as geopolitical dynamics and extraordinary transactions. The conflict in the Middle East continued to generate sharp movements in oil, gold, and Wall Street, while in Europe, and particularly on the Milan Stock Exchange, the financial game of risk returned to the forefront, with transactions and rumors rekindling investor interest. The European picture

The macroeconomic week opens with a particularly packed calendar of events that could shape global investors' expectations. Between inflation indicators, confidence data, and updates from major central banks, markets are bracing for a series of releases that could redefine the short-term economic outlook. In an environment still characterized by restrictive monetary policies and uneven growth, each piece of data will be interpreted forward-looking, rather than snapshot-based.

The financial week ended with a more fragile picture for global markets, impacted by a combination of factors that shifted investors' attention from macroeconomic dynamics alone to an increasingly complex intertwining of geopolitics, energy, and corporate strategies. Rising oil prices, tensions in the Middle East, and moves by major industrial and financial groups contributed to a climate of heightened uncertainty, reflected in a widespread correction in stock indices. In E

The macroeconomic week opens with a particularly busy schedule of events that could shape global investors' expectations. Between monetary policy decisions, labor market data, and indicators of real economic activity, markets are bracing for a series of releases that could redefine the growth outlook for the major economic blocs. Attention remains focused primarily on central banks, which are called upon to act in a context still characterized by officially gradually cooling