From Bloomberg Markets and Finance.

US stock futures rebounded and oil prices eased as traders monitor whether a fragile ceasefire in the Middle East can hold.

A flareup of violence in the Middle East has injected fresh uncertainty after a month-long rally that pushed equities to new records, fueled by strong earnings from tech megacaps and gains in chipmakers. Still, Iranian Foreign Minister Abbas Araghchi said that talks with the Americans were “making progress.”

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.

Chapters:
00:00:00 – The Opening Trade – 5/5/2026
00:01:27 – Iran-US Ceasefire Tested
00:03:57 – Markets Assess Hormuz Tensions
00:05:55 – European Earnings Season
00:10:27 – WH Weighs AI Working Group: NYT
00:13:49 – US & Iran Trade Fire in Gulf
00:23:58 – Santander’s Stuart Bennett
00:25:51 – French Trade Minister Nicolas Forissier
00:40:30 – Markets in 3 Minutes
00:43:56 – Stocks To Watch
00:47:58 – The Market Open
00:50:38 – JPMorgan Private Bank’s Madison Faller
01:00:25 – Core 6 & Early Morning Movers
01:03:45 – European Banks Deliver Mixed Results
01:07:18 – Rheinmetall Misses Estimates
01:15:20 – Private Credit’s AI Risk Exposure
01:28:14 – US-Iran Ceasefire Tested
01:31:37 – Oil Check
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