finance
Wall Street Indices Hit New Record Highs
The S&P 500 and Nasdaq closed at new record highs on May 5, 2026, after renewed hopes for peace and heavy AI stock buying. Global oil prices tumbled more than 6 percent while European and Australian markets also advanced. ABC business reporter Stephen Letts is covering the day's developments as Australia's March trade balance and Orica's first-half results are due.
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Renewed hopes for peace and another spending spree in AI stocks drove Wall Street's S&P 500 and Nasdaq indices to new record highs on 2026-05-05. 1 percent. 2 percent in the same session.
Global oil prices tumbled on the peace hopes. 34 per barrel as of approximately 7:00am AEST on 2026-05-06. 25 per barrel at the same time.
European markets followed Wall Street higher. 1 percent on 2026-05-05. 7 percent. 2 percent to 8,900 points as of approximately 7:00am AEST on 2026-05-06.
3 percent at 8,793 points on Wednesday 2026-05-05. 35 US cents. Australia's March trade balance reading is scheduled for release on 2026-05-06.
5 billion. 7 billion. Global explosives maker Orica is scheduled to release its first-half results before the market opens on 2026-05-06.
Orica guided first-half pre-tax earnings to be slightly higher than the previous corresponding period. Orica's first-half pre-tax earnings are expected to come in around $490 million.
60 per tonne on Thursday 2026-05-01.
Stephen Letts from the ABC business team is providing coverage of the day's financial events on 2026-05-06. The blog post was published at approximately 7:00am AEST on 2026-05-06. Abc reported that most interest in Orica's results will centre on future guidance, the impact of the Gulf war and how it views demand in the mining sector worldwide.
