--- title: "SG Morning Brief | Dow Hits Record on Iran Peace Draft, Walmart Drops 7% on Fuel Cost Warning" type: "News" locale: "en" url: "https://longbridge.com/en/news/287287898.md" description: "US OvernightThe Dow Jones posted a record close of 50,285.66 (+0.55%), its first since February, after a report that a final draft of a US-Iran peace agreement had been reached with Pakistani mediation. The S&P 500 inched up 0.17% to 7,445.72 and the Nasdaq edged 0.09% higher to 26,293.10. The Russell 2000 outperformed, gaining 0.93% to 2,843.45." datetime: "2026-05-22T00:54:47.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287287898.md) - [en](https://longbridge.com/en/news/287287898.md) - [zh-HK](https://longbridge.com/zh-HK/news/287287898.md) --- # SG Morning Brief | Dow Hits Record on Iran Peace Draft, Walmart Drops 7% on Fuel Cost Warning ## US Overnight The Dow Jones posted a record close of 50,285.66 (+0.55%), its first since February, after a report that a final draft of a US-Iran peace agreement had been reached with Pakistani mediation. The S&P 500 inched up 0.17% to 7,445.72 and the Nasdaq edged 0.09% higher to 26,293.10. The Russell 2000 outperformed, gaining 0.93% to 2,843.45. Markets opened lower on rising oil and yields after Iran's Supreme Leader issued a directive to retain enriched uranium, but reversed sharply in the afternoon on the Iran peace headline. Oil and longer-end Treasury yields pulled back on the news. The VIX fell 3.9% to 16.76. Intuit plunged 20% to $307.07 after issuing guidance well below expectations amid IRS free-filing headwinds. The session was a tale of two halves: the morning traded the inflation-and-war narrative, the afternoon traded the peace-and-disinflation narrative. The Dow's record close suggests the market is pricing in a deal, even though Iran has rejected prior frameworks twice. ### Key Movers **Walmart (WMT) -7%** — Walmart fell 7.27% to $121.34 after issuing cautious profit guidance that overshadowed solid Q1 results. Revenue of $177.8 billion beat the $174.83 billion consensus (+7.3% YoY), with e-commerce surging 26%. But operating income was hit by 250 basis points from higher fuel costs. CFO John David Rainey warned consumers will feel more pressure from fuel in Q2. Full-year guidance was left unchanged, disappointing a Street that had priced in a raise. **Arm Holdings (ARM) +16%** — ARM surged 16% to a new all-time high, pushing its market cap above $300 billion for the first time. The catalyst was Nvidia's earnings call, where CFO Colette Kress said Nvidia aims to become the "world's leading CPU supplier" via its Arm-based Vera CPU, opening a "$200 billion addressable market" with $20 billion in CPU revenue expected this year. Since ARM collects royalties on every Vera chip shipped, the revenue visibility translates directly into an expanded royalty outlook. **IBM (IBM) +12%** — IBM surged 12.43% to $252.97 after the Trump administration announced $2 billion in equity stakes across nine quantum computing companies, with IBM receiving $1 billion to build America's first purpose-built quantum chip foundry (named Anderon) in Albany, NY. D-Wave Quantum jumped 33.4% and Rigetti Computing rose 30.6% on $100 million allocations each. ## SGX Preview The STI was trading near 5,004 on Monday. DBS was at S$57.70, UOB at S$38.54. The Iran peace draft is the most significant development for Singapore markets this week: if confirmed, oil drops further below $100 and the inflationary headwind that has weighed on Singapore's trade-dependent economy begins to ease. Banks remain well-positioned under higher-for-longer rates. Walmart's warning about fuel-driven consumer pressure is a data point worth watching for local retailers. ## Asia Pre-Market Gold is at $4,544 (+0.20%), Bitcoin at $77,686 (+0.38%), and Brent crude at $104.88 (-0.13%). The VIX at 16.76 is the lowest in a week. The Dow's record close and Iran peace news set up a constructive backdrop for Asian markets today, though the Intuit after-hours plunge may weigh on tech sentiment at the margin. The key question: does the Iran deal actually close, or is this another false start? ## Today's US Earnings and Economic Calendar Event Time (ET) Time (SGT) S&P Global PMI (May, Flash) 9:45 AM 9:45 PM New Home Sales (April) 10:00 AM 10:00 PM No major SG-relevant earnings today. SpaceX IPO is confirmed for June 12 at a $1.75 trillion valuation, with Goldman Sachs as lead underwriter. **Data Spotlight: S&P Global Flash PMI** — The May flash PMI provides the first read on business activity this month. Manufacturing has been in contraction due to elevated input costs, while services has held up. A rebound would signal the oil-driven cost squeeze is easing. A further decline reinforces stagflation fears. ## One More Thing The Dow at a record and Walmart down 7% on the same day tells you everything about this market. The index is being carried by financials and industrials, while the consumer is buckling under $4.50 gasoline. Walmart's CFO essentially told investors that the lower-income consumer is running out of buffer. That is not a recession signal — revenue still grew 7% — but it is a margin signal. If the Iran deal closes and oil drops to $80, this problem solves itself. If it doesn't, the gap between the Dow's record and the consumer's reality widens. _This briefing is for informational purposes only and does not constitute investment advice._ ## Related News & Research - [11:36 ETGreenworks Launches New Pro Power Tool Line Exclusively at Walmart with Expanded 24V POWERALL™ Platform](https://longbridge.com/en/news/287246519.md) - [If You Invested $100 In Walmart Stock 5 Years Ago, You Would Have This Much Today](https://longbridge.com/en/news/286785565.md) - [Elis: Disclosure of the number of shares forming the capital and of the total number of voting rights as of 30 04 2026](https://longbridge.com/en/news/286770212.md) - [Are Wall Street Analysts Predicting Brown-Forman Stock Will Climb or Sink?](https://longbridge.com/en/news/286932286.md) - [Besra Gold Announces Notice of Meeting and Mgt Information Circular Proxy Form | BESAF Stock News](https://longbridge.com/en/news/286895351.md)