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Global Stock Markets & Commodities

U.S. Equities: The S&P 500 and Nasdaq powered ahead to fresh record closes on May 28 as tech and software stocks aggressively reclaimed market leadership. At the closing bell, the S&P 500 gained 0.58% to 7,563.63 points, the Nasdaq Composite jumped 0.91% to 26,917.47 points, and the Dow Jones ticked up 0.05% to 50,668.97 points. Snowflake stole the spotlight, skyrocketing an unprecedented 36.5% following a blockbuster Q2 earnings forecast, which ignited a broader software rally (iShares Expanded Tech-Software Sector ETF, IGV, rose 2.8%) and lifted semiconductor heavyweights like Qualcomm (+4.2%) and AMD (+4.6%).

Crude Oil: Prices reversed downward, erasing a massive early-session rally. Brent crude slipped 0.6% to settle at $93.71/barrel, while U.S. WTI crawled up 0.3% to $88.90/barrel. The market cooled off following headlines that U.S. and Iranian negotiators had reached a Memorandum of Understanding (MOU) to extend the ceasefire by 60 days to pursue nuclear talks, though President Trump has yet to officially sign off. Earlier in the session, prices had spiked on fresh military crossfire (U.S. defensive strikes inside Iran and a thwarted Iranian ballistic missile launch toward Kuwait). Citi and other market experts warned that inflationary pressures from previously elevated oil prices continue to pass through into the global economy.

Gold: Spot gold trimmed its intraday losses following the release of U.S. inflation data, closing down 0.6% at $4,428.69/ounce after hitting its lowest levels since late March; gold futures slid 0.5% to $4,426.20/ounce. The April U.S. core PCE price index came in at 0.4% month-on-month (just under the 0.5% forecast) and 3.8% year-on-year, helping ease intense anxieties over aggressive near-term Fed monetary tightening. However, a meaningful rebound remained capped by a resilient USD and climbing Treasury yields, sustained by high underlying energy costs. (Silver dropped 1.2% to $73.69/ounce, and platinum shed 1.6% to $1,887.75/ounce).

Rubber

Domestic Market: Raw material buying prices across major domestic producers extended their flat and stable streak with no new adjustments noted:

Binh Long: Factory-gate liquid latex held firm at 505 VND/deg TSC/kg, while dry scrap rubber (DRC 60%) was anchored at 18,000 VND/kg.

Phu Rieng & Ba Ria: Liquid latex stabilized at 420 VND/TSC (Ba Ria's price applies to TSC levels from 25% to under 30%).

Mang Yang: Procurement rates for liquid latex fluctuated tightly between 458–463 VND/TSC.

Agricultural Commodities

Wheat: The complex saw mixed, highly fragmented trade on Thursday. Chicago SRW edged up slightly into the close, gaining 0.5 to 1.5 cents. Conversely, Kansas City HRW remained under pressure, shedding 3 to 5 cents, while Minneapolis spring wheat (MPLS) dropped 2 to 3.5 cents. Global downside was somewhat limited by crude oil's late-day stabilization (slipping just 15 cents) on U.S.-Iran diplomatic progress regarding the Strait of Hormuz. South American planting news showed Argentina’s new crop is now 14.2% seeded.

Corn: Futures staged a broad-based reversal on Thursday, gaining 2.5 to 4.75 cents across the board and lifting the U.S. national average cash price to $4.17/bushel. Fresh EIA data revealed weekly ethanol production fell by 22,000 barrels per day to 1.089 million bpd, while domestic inventories climbed to 24.968 million barrels. Prices drew firm fundamental support from an overnight private tender purchase of 133,000 MT by a South Korean importer. In Argentina, the corn harvest reached 34.7% completion.

Soybeans: Prices surged on Thursday, posting gains of 9.25 to 15.25 cents at the closing bell, driving the national average cash price up to $11.34/bushel. Soymeal futures added $1.10 to $3.80/ton, while soy oil shot up 86 to 147 points. The rally was driven by updated weather models showing a much drier pattern next week across the Eastern Corn Belt and north of the Ohio River, which should allow delayed planting paces to catch up. In Argentina, the soybean harvest was estimated at 84.6% complete.

Metals

Silver: Prices steadied near $76/ounce on Friday as macro sentiment turned cautiously optimistic after reports emerged of a preliminary U.S.-Iran framework to extend the ceasefire by 60 days, open up nuclear dialogue, and evaluate unhindered shipping in the Strait of Hormuz. However, long-term liquidation pressure stemming from late February's energy inflation scare kept investors guarded, particularly after Vice President JD Vance noted it was too early to predict a definitive sign-off and the Fed maintained its sticky inflation warnings.

Copper: Futures fell back below $6.25/pound on Thursday, turning sharply lower from a one-week high of $6.40. Despite Washington formally pushing back against Iran’s claims of an unconfirmed draft agreement, the market built in expectations that essential sulfur and sulfuric acid trade flows from GCC economies would soon be normalized, offering raw material relief to global smelters. Tight raw supply had previously forced China to freeze exports and major refiners in top-producer Chile to cut back processing capacity.

Platinum: Slipped to a four-week low around $1,900/ounce. Unresolved geopolitical gridlocks including Tehran's push for Strait of Hormuz maritime control and Washington’s absolute refusal to lift broader economic sanctions kept energy inflation and long-term hawkish rate expectations alive. Structurally, however, the metal remains firmly supported on the downside as the WPIC forecasts a fourth consecutive annual supply deficit for 2026, alongside highly resilient automotive demand driven by hybrid vehicle adoption.