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Treasury Secretary Bessent said:

• I wish job market had come out today

Then added that he has no prior knowledge of tomorrow's job data.

Then why say that?

The Trump administration, members of the Trump family, and many in Washington often appear to have access to information that can move markets, and critics argue that some have profited handsomely as a result. Whether perception or reality, concerns about accountability and oversight continue to linger. Treasury Secretary Scott Bessent may have simply misspoken in recent comments, but in today's environment many investors are left wondering where the line is between a harmless slip and something more significant. To critics, it can feel as though the watchdogs are asleep while potential…

This is a new tone from Putin, it sounds like he wants the war to end:

• In Alaska, Trump asked Russia for some compromises, Russia is ready
• Ukraine also needs to compromise and the conflict will end quickly then
• Russia has all the resources to fulfill the military goals, and they are getting stronger
• Unfortunately, some Ukrainian drones are getting through to Russia
• We need to strengthen our air defense system
• Ukraine's army problem is a catastrophic lack of personnel
• More than 85% of Donetsk Region is under Russia's control
• Russia controls 80% of Zaporizhzia Region
• Ukraine is losing territory

These are some notable comments and are negative for energy prices, particularly in Europe.

Oil tumbled after positive deal comments from Trump but now we have the leader of Hezbollah in Lebanon pushing back hard.

• Negotiations with Israel are 'shameless'
• Washington's announcement is a 'roadmap to annihilate part of the Lebanese people'
• Ceasefire with Israel should include south of Lebanon
• As long as Israel is in Lebanon, the resistance will continue
• As long as our villages are being bombed and our people killed, Northern Israel will not be safe
• We refuse any link between our presence and a ceasefire or Israel's withdrawal

Hezbollah chief says any ceasefire must include southern Lebanon, warns ‘resistance’ will continue as long as Israeli forces remain, and says northern Israel will not be secure while Lebanese villages are under…

Headlines:

• Trump: The US is in the middle of final negotiations to end the Iran war
• Israeli military warns that the fighting in southern Lebanon continues
• AI drives tech sector to cut jobs by the most since 2023
• BOJ reportedly expected to raise interest rates later this month - report
• RBA governor Bullock: We expect inflation to increase further in the near-term
• Euro area retail sales fall in April, challenging outlook ahead
• German construction activity experiences another steep rate of decline in May
• UK construction output falls at fastest pace for six years in May
• Swiss inflation holds steadier in May, core estimate remains subdued

Markets:

• WTI crude down nearly 4% to $96.50
• US dollar lower across the board
• European indices mostly higher but US…
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• Prior week for initial jobless claims 209K revised to 212K.
• Prior week for continuing claims 1.786 million revised to 1.785M
• initial jobless claims come in higher at 225K vs 213K estimate and a revised 212K last week. Largest since the first week of February
• 4-week moving average comes in at 214.75K up from 208.25K last week
• Continuing claims 1.777M versus 1.780 million estimate.
• The 4-week moving average was 1,777,250, an increase of 4,750 from the previous week's revised average. The previous week's average was revised down by 250 from 1,772,750 to 1,772,500.

The initial jobless claims move higher in the current week suggestive of a weakening jobs picture. It is the highest level since the first week of February, but still relatively low…

Trump on Truth Social:

"Yesterday, in a meaningless vote, the House voted, 4 bad Republicans and all of the Dumocrats, to limit my War Powers, right in the middle of my final negotiations to end the War with the Islamic Republic of Iran. Who would do such an unpatriotic thing. They know where the negotiations stand. The Democrats are fueled by Trump Derangement Syndrome. They would rather have our Country fail than give me another, of many, victories. The four Republicans, that’s a whole other story - They’re GRANDSTANDERS! They should be ashamed of themselves. MAGA!!! President DJT"

We've heard this so many times already and yet here we are still waiting for an agreement and the reopening of the Strait of Hormuz.

For context, the US House…

The post Ex-Dividend 05/06/2026 first appeared on IC Your Trading Edge | Official Blog.

• Retail sales -0.4% vs -0.3% m/m expected
• Prior -0.1%; revised to +0.8%

The drag in April needs to be put into a bit of context as it follows from a sharp revision higher to the March number. And that came after a positive revision to non-food retail sales in ending Q1 (from +0.6% to +1.7%). In April, non-food retail sales reflected a drop of 0.9% and was key in dragging down the overall figure.

Besides that, automotive fuel sales also dropped back in April (-2.7%) after also seeing a positive revision to the March figure (from -1.6% to +0.9%).

The jump in March is likely tied to consumers fronting their fuel and petrol purchases amid fears of higher oil and gas prices due to the Middle East conflict. The trend here was very much observed…

US-based employers announced 97,006 job cuts in May, up 16% from the 83,387 job cuts recorded in April. The figure is also up 3% from the 93,816 announced in the same month last year, marking the highest May total since 2020.

Of note, this also marks the third straight month that job cuts have risen. So, that is definitely something to be wary about.

While the year-to-date figure (397,755 job cuts) is still 43% down compared to last year's tally (696,309 job cuts), do be reminded that reductions to the federal workforce drove the 2025 total to historic highs.

Looking to the May month this year, the tech sector was the main industry that saw the most layoffs. Of note, the industry announced 38,242 job cuts in May - the highest monthly total…

Traders are preparing for a lively end to the trading week on Friday with key US jobs numbers due out. Markets have been dominated by geopolitical influences over the last few days, but the big US Non-Farm numbers will be the focus sharply back to fundamentals and potential updates to FOMC rate expectations. Recent data has pointed to a resilient jobs market in the US and this, combined with continued sticky inflation numbers has flipped the market view from expecting cuts from the FOMC to anticipating that the next move may be a hike.

The headline Non-Farm employment change number is expected to show an increase of 85k jobs last month with the Unemployment Rate remaining steady at 4.3% and the Average Hourly Earnings increasing by…

IC Markets Global – Europe Fundamental Forecast | 04 June 2026

What happened in the Asia session?

Geopolitical volatility from renewed U.S.-Iran hostilities rattled Asian stocks at the open as investors weighed escalation risks against conflicting peace signals. The Australian dollar (AUD/USD) was the most significantly impacted currency, falling sharply after Q1 GDP grew just 0.3%, well below the 0.5% forecast, strengthening expectations that the RBA will hold rates at 4.35%. Meanwhile, gold rose 0.7% to $4,461/oz on a softer dollar and renewed optimism for a US-Iran peace deal, while WTI crude eased to ~$95.71 as oil prices moderated from earlier peaks.

What does it mean for the Europe & US sessions?

SpaceX’s record-breaking $75 billion…

• Agreement on the release of frozen Iranian funds in its final stages
• The main obstacle relates to the mechanism for disposing of part of the frozen Iranian funds
• Trump informed the mediators of his refusal to release funds to Iran before signing the agreement
• Proposal to create a special fund for depositing frozen Iranian funds under discussion

According to an informed source cited by Al Arabiya on X, talks on the release of frozen Iranian funds are now in their final stages. The source indicated that the remaining dispute concerns the mechanism through which a portion of those assets would be made available to Tehran. The report adds that former US President Trump has informed mediators that he opposes releasing funds to Iran before a formal…