{"id":61971,"date":"2026-05-15T08:38:38","date_gmt":"2026-05-15T12:38:38","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-retreat-as-us-futures-slump-india-and-uae-ink-landmark-30m-barrel-energy-pact\/61971\/"},"modified":"2026-05-15T08:38:38","modified_gmt":"2026-05-15T12:38:38","slug":"global-markets-retreat-as-us-futures-slump-india-and-uae-ink-landmark-30m-barrel-energy-pact","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-retreat-as-us-futures-slump-india-and-uae-ink-landmark-30m-barrel-energy-pact\/61971\/","title":{"rendered":"Global Markets Retreat as US Futures Slump; India and UAE Ink Landmark 30M Barrel Energy Pact"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>US Equity Futures Tumble:<\/strong> Major indices are trading sharply lower, with the <strong>Nasdaq-100 (NQ)<\/strong> falling <strong>1.6%<\/strong> and the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> (ES)<\/strong> dropping <strong>1.1%<\/strong> as a broad &quot;risk-off&quot; mood overshadows several positive earnings reports.<\/li>\n<li><strong>India-UAE Strategic Energy Pact:<\/strong> ADNOC and India have entered a massive agreement that could expand crude oil storage in India to <strong>30 million barrels<\/strong>, including new projects in <strong>Vishakhapatnam<\/strong> and <strong>Chandikol<\/strong>.<\/li>\n<li><strong>Canada Housing Starts Surge:<\/strong> Residential construction in Canada far exceeded expectations in April, reaching <strong>279,317 units<\/strong>\u2014a <strong>17% increase<\/strong> over the previous month.<\/li>\n<li><strong>Aerospace Giants Engage China:<\/strong> The CEOs of Boeing (<a href=\"\/stock\/BA\">BA<\/a>) and GE Aerospace (<a href=\"\/stock\/GE\">GE<\/a>) met with China\u2019s state planner to discuss increased collaboration following a commitment for <strong>200 Boeing jets<\/strong>.<\/li>\n<li><strong>Transatlantic Alignment:<\/strong> German Chancellor Friedrich Merz and U.S. President Donald Trump reported a &quot;positive&quot; phone call, aligning views on <strong>Ukraine<\/strong> and reaffirming the <strong>NATO<\/strong> partnership.<\/li>\n<\/ul>\n<h2>US Pre-Market and Corporate Earnings<\/h2>\n<p>US equity futures are facing significant pressure this morning as investors retreat from risk. Despite reporting an earnings beat, Applied Materials (<a href=\"\/stock\/AMAT\">AMAT<\/a>) saw its shares slide <strong>2.0%<\/strong> in <a href=\"https:\/\/stockmarketwatch.com\/movers\/premarket\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market trading<\/a>, caught in the broader market downdraft. Conversely, Freedom Holding (<a href=\"\/stock\/FIG\">FIG<\/a>) surged <strong>9.1%<\/strong> after beating earnings estimates and raising its forward guidance, while Boot Barn (<a href=\"\/stock\/BOOT\">BOOT<\/a>) climbed <strong>4.6%<\/strong> on a strong outlook.<\/p>\n<p>In the M&amp;A space, <strong>MICC<\/strong> (<a href=\"\/stock\/MICC\">MICC<\/a>) shares skyrocketed <strong>12.3%<\/strong> following reports that private equity giants <strong>Blackstone<\/strong> and <strong>CD&amp;R<\/strong> are among the firms considering a potential acquisition. The move comes amid a flurry of activity in the sector as firms look to deploy capital in a volatile environment.<\/p>\n<h2>India and UAE Deepen Energy Ties<\/h2>\n<p>The Abu Dhabi National Oil Company (<strong>ADNOC<\/strong>) has signed a series of strategic agreements with India to bolster energy security. A primary component of the deal includes increasing ADNOC\u2019s crude oil storage in India to <strong>30 million barrels<\/strong>, utilizing existing facilities in <strong>Mangalore<\/strong> and developing new sites in <strong>Vishakhapatnam<\/strong> and <strong>Chandikol<\/strong>.<\/p>\n<p>The partnership also explores the possibility of storing Indian strategic reserves in <strong>Fujairah, UAE<\/strong>. Additionally, ADNOC and <strong>Indian Oil Corporation<\/strong> signed a collaboration deal to explore expanded <strong>LPG supply<\/strong> and trading opportunities, backed by <strong>ADNOC Global Trading<\/strong>.<\/p>\n<h2>Aerospace Diplomacy in China<\/h2>\n<p>Boeing (<a href=\"\/stock\/BA\">BA<\/a>) CEO Kelly Ortberg and GE Aerospace (<a href=\"\/stock\/GE\">GE<\/a>) CEO Larry Culp held high-level discussions with China\u2019s <strong>National Development and Reform Commission (NDRC)<\/strong>. The meetings focused on increasing industrial investment and ensuring Boeing remains a &quot;link for cooperation&quot; between the U.S. and China.<\/p>\n<p>While the recently announced order for <strong>200 Boeing jets<\/strong> was smaller than the 500 units some analysts expected, the deal provides a significant boost to <strong>GE Aerospace<\/strong>, which serves as the primary engine supplier. Chinese officials emphasized that they welcome collaboration based on &quot;business principles&quot; and local firm integration.<\/p>\n<h2>Macroeconomic and Geopolitical Developments<\/h2>\n<p>Canada\u2019s housing market showed unexpected strength in April, with housing starts hitting <strong>279,317 units<\/strong>, significantly higher than the estimated <strong>245,000<\/strong>. This <strong>17% monthly jump<\/strong> was driven largely by multi-unit construction in major hubs like <strong>Toronto<\/strong> and <strong>Montreal<\/strong>, though economists warned that month-to-month volatility remains high.<\/p>\n<p>On the geopolitical front, German Chancellor <strong>Friedrich Merz<\/strong> and President <strong>Donald Trump<\/strong> held a phone call to coordinate positions ahead of the upcoming <strong>NATO summit in Ankara<\/strong>. The leaders reportedly &quot;aligned their views&quot; on a peaceful solution for <strong>Ukraine<\/strong> and emphasized the strength of the U.S.-Germany partnership within NATO.<\/p>\n<p>In the Pacific, Japan was struck by a <strong>6.6 magnitude earthquake<\/strong> off the coast of <strong>Miyagi<\/strong>. While the quake caused strong shaking across several prefectures, <strong>NHK<\/strong> reported that no tsunami alerts were issued and no immediate major damage was confirmed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways US Equity Futures Tumble: Major indices are trading sharply lower, with the Nasdaq-100 (NQ) falling 1.6% and the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[5012],"tags":[5260,30,5322,352,5661,397,7506,828,18841,3767,4612,4613,4824,5030],"class_list":["post-61971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","tag-canada","tag-ge","tag-markets","tag-micc","tag-housing","tag-boot","tag-ndrc","tag-amat","tag-fig","tag-ba","tag-es","tag-nq","tag-geopolitics","tag-energy"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/61971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=61971"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/61971\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50383"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=61971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=61971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=61971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}