Asian stocks skyrocketed on Wednesday after the U.S. and Iran agreed to a conditional two-week ceasefire, during which shipping traffic will be allowed through the Strait of Hormuz.Oil prices crashed below $100 a barrel as the last-minute ceasefire agreement helped ease fears of an immediate supply shock. Despite the truce, there were reports of missile and drone threats elsewhere in the region.Te...
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.