Global Market Rundown: Trade Rally Fades, Oil Prices Drop, UnitedHealth Investigated

Global Market Sentiment

• 📉 Global stock markets are mixed as the trade-fueled rally that followed the US-China agreement begins to fade.
• 🌍 Asian stocks drifted overnight, and European shares struggled for direction, with Wall Street futures pointing to a negative open.

Oil Prices and Geopolitics

• 🛢️ Brent crude oil prices dropped by roughly 2-3% due to growing expectations of a potential US-Iran nuclear deal that could ease sanctions.
• 📈 A surprise build in US crude inventories last week also contributed to concerns about over-supply.

UnitedHealth Group Under Investigation

• ⚖️ UnitedHealth Group is reportedly under a criminal investigation by the US Department of Justice over possible Medicare fraud.
• 📉 The company's shares fell 8% in after-hours trading, adding to a tough 2025 that has already seen its CEO step down and financial forecasts suspended due to rising medical costs.

Retail and Economic Data

• 🛒 Walmart is set to release its first-quarter results, with investors focused on its response to tariffs.
• 📊 US retail sales data is expected to show a flat reading, coinciding with Walmart's results.

UK Economic Growth

• 📈 The UK economy grew by 0.7% between January and March 2025, exceeding expectations.
• 🇬🇧 In March alone, growth was 0.2%, a significant improvement from the no-growth forecast, though analysts caution about maintaining this momentum.