Tuesday, May 5, 2026…4:10 PM ET
[4:00 PM ET closing prices for stocks; 3:50ish for commodities and bonds.]
Tale of the Tape at the gas pump, nationwide averages, courtesy of AAA.
Fri. Feb. 27…regular gas $2.98…diesel $3.75
Tues., May 5…reg. $4.48…diesel $5.65
‘Regular’ is up 46 cents in less than two weeks.
The local gas pump a block down the road hiked regular to $4.75 today, when it was $3.15 before the U.S.-Israeli attacks on Iran and the start of the war.
But the stock market rallied today, and oil and gasoline futures fell about 4% with West Texas Intermediate below $102 this afternoon, reversing gains from the previous session, after Defense Secretary Pete Hegseth (and Joint Chiefs of Staff Gen. Dan Caine) said the ceasefire with Iran remains in place despite this week’s attacks on the UAE. He added that the Strait of Hormuz is open, noting that two U.S. commercial vessels transited safely with U.S. military support, which repelled attacks from Iranian drones, missiles, and armed small boats.
Gasoline futures also reversed yesterday’s gains, falling to about $3.60 from $3.74.
Ship tracking tool MarineTraffic shows little shipping passing through the Strait on Tuesday, after Monday’s strikes in the waterway.
The website publishes details from vessels using their onboard trackers, the Automatic Identification System, which includes their locations.
But it’s important to remember that vessels can turn off their location transmissions so that they are not visible on tracking platforms such as MarineTraffic. They can also falsify their positions through a process known as spoofing.
As of the weekend, more than 800 ships and roughly 20,000 crew members remain stranded in the region.
So the standoff remains in place with little progress toward new talks as Tehran demands an end to the naval blockade while Washington maintains pressure on Iran’s oil exports. Meanwhile, data from the Energy Information Administration showed gasoline demand edged higher to 9.10 million barrels per day, while inventories fell and production declined slightly.
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In the sports world, the Knicks destroyed the Sixers in Game 1 of their series in the NBA playoffs, 137-98, with New York now having won its last three playoff games by a combined 119 points. Needless to say, no one has ever done this before in the postseason over a 3-game stretch.
And the Minnesota Timberwolves shocked the Spurs at home, 104-102, as T’Wolves superstar Anthony Edwards played 25 minutes and had 18 points when he was supposed to be out at least the first two games of the series due to a hyperextended knee he suffered on April 25. A truly heroic performance.
San Antonio’s Victor Wembanyama had a triple-double, 11 points, 15 rebounds and 12 blocks, but he was 5-for-17 from the field, 0-for-8 from three.
And today’s Mets-Rockies game in Colorado has been snowed out! It’s May 5th. Goodness gracious.
The Rocky Mountains are getting some late badly needed snow to help the reservoirs some.
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Dow Jones +356…+0.7% [49298]
S&P 500 +58…+0.8% [7259…record high]
Nasdaq +258…+1.0% [25326…record high]
Oil (WTI) $102.60.…Brent $110.15
Gold $4555
Silver $72.85
Bitcoin $81,619 [4:00 PM ET…3-month high…]
U.S. 2-yr. 3.94%
U.S. 10-yr. 4.42%
Japanese 10-yr. 2.49%
Back Wed.
Brian Trumbore
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