 Macroeconomic Pulse: What's Happening in Markets on May 6 The dollar fell to 97.9 — returning to pre-war levels. Investors are pricing in a peaceful scenario with Iran, and that changes everything. Key figures of the day: • S&P 500 and Nasdaq — new records (+1%+). The AI sector is driving the market up on strong earnings reports. • ADP Employment: +109,000 jobs in April — best result in 16 months, above forecasts. • Oil: Inventories fell by 2.3 million barrels, but less than expected (−3.3 million). Pressure on prices persists. • Mortgages: The 30-year rate edged up to 6.45% — the housing market is cooling. • Canada: Ivey PMI surged to 57.7 (from 49.7 a month ago) — a seven-month high. Global trends: → The US is withdrawing ~5,000 troops from Germany — a reassessment of European strategy. → The cloud market will exceed $500 billion in 2026 — AWS Amazon shows blockbuster growth. → Russia's economy is losing momentum: GDP is slowing, energy revenues are falling. My conclusion as an economist: The dollar weakens → risk assets are up. The AI sector is the main beneficiary. For those holding cash in USD, it's time to consider diversification. Mortgage rates are rising — the real estate market is entering a cooling phase. I analyze markets in real time so you can orient yourself before the trend becomes obvious to everyone.