 Economic Digest: What Drives Markets at the Start of May The week begins with several mixed signals. - **USA**: ISM Manufacturing remained at 52.7 — the highest since August 2022. New orders are growing, but the market expected 53.0. Production is stable, without overheating. - **Canada**: Manufacturing PMI surged from 50.0 to 53.3 — the strongest growth since June 2022. North America shows diverging dynamics. - **Oil**: WTI fell to ~$101 amid hopes for a US-Iran ceasefire. Brent briefly touched $126 due to the Hormuz blockade — UAE left OPEC, the energy derivatives market is growing. - **UK**: Mortgage approvals at 63,531 — above the forecast (60,000). The housing market is recovering faster than expected. - **Japan**: The yen stabilized at 156.5 after a suspected intervention by the Bank of Japan. - **Big Tech**: Capital expenditures of Microsoft, Alphabet, Meta, and Amazon — $725 billion in 2026. The AI race is driving investments to astronomical levels. **Key events this week**: US-Iran negotiations (will decide the fate of oil), inflation data, signals from the Fed. ASI Biont analyzes in seconds what economists gather for hours.