Morning Update-05/18/2026

Research evidence excerpt

Morning Update-05/18/2026

Morning Update

18 MAY 2026

Close +/- % YTD% Rates & Currency Close +/- % YTD% Commodities Close +/- % YTD%

Dow Jones 49,526 -537 -1.1 3.0 US 10Y 4.59 0.12 2.6 43bp Brent 1M (USD/bbl) 111.2 1.9 1.7 105.3

S&P 500 7,409 -93 -1.2 8.2 Germany 10Y 3.14 0.09 2.9 29bp WTI 1M (USD/bbl) 107.7 2.3 2.1 96.6

NASDAQ 26,225 -410 -1.5 12.8 Norway 10Y 4.55 0.04 0.9 39bp Henry Hub 1M (USD/mmbtu) 2.96 0.1 2.3 -19.7

VIX 18.4 1 6.8 23.3 SOFR 3M 3.7 0.0 -0.1 -0bp Dutch TTF Nat Gas 1M (EUR/MWh) 51.7 1.5 3.0 83.6

Nikkei 225 60,995 -488 -0.8 17.6 USD 3Y Swap 4.19 0.07 1.7 58bp Nordic Electricity 1D (EUR/MWh) 65.0 0.0 0 -21.0

Shanghai SE Comp 4,126 -9 -0.2 4.0 NOK 3Y Swap 4.98 0.05 0.9 89bp UK Electricity 1M (EUR/MWh) 123.7 6.9 5.9 67.5

Hang Seng Index 25,613 -350 -1.3 -0.1 Dollar Index (DXY) 99.3 0.5 0.5 1.0 CO2 Price (EUR/t) 75.6 -0.0 -0.0 -13.6

FTSE 100 10,195 -178 -1.7 2.7 EUR/USD 1.16 -0.00 -0.4 -1.0 Gold 3M (USD/ozt) 4,545 -17.3 -0.4 3.2

DAX 23,951 -506 -2.1 -2.2 USD/JPY 158.6 0.4 0.3 1.2 Aluminium Cash (USD/t) 3,635 -133.0 -3.5 22.5

OSEBX 2,018 32 1.6 19.6 USD/NOK 9.31 0.07 0.7 -7.7 Copper Cash (USD/t) 13,554 -433 -3.1 8.4

Stockholm (OMX) 3,036 -12 -0.4 5.3 EUR/NOK 10.82 0.03 0.3 -8.6 Baltic Dry Index 3,151 -44 -1.4 67.9

Euro STOXX 50 5,828 -107 -1.8 0.6 GBP/NOK 12.42 -0.04 -0.3 -8.5 Steel Spot China (USD/st) 1,079 0.0 0.0 15.4

MSCI World Index 3,677 -45 -1.2 7.1 SEK/NOK 0.99 -0.00 -0.2 -9.8 Iron Ore China (USD/t) 110.8 -0.4 -0.3 3.4

S&P Sectors Close % YTD% International Peers Close +/- % YTD% International Peers Close +/- % YTD%

Aerospace & Defence 2,305 -2.7 -3.1 Technology & other Large-Cap Renewable Power Producers & Supply Chain

Airlines 317 -2.4 -6.8 Adobe 247.6 10.6 4.5 -29.3 Boralex 36.9 0.0 0.1 45.5