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Wall Street Reaches New Record Highs as AI Boom and Iran Ceasefire Hopes Boost Markets 
Mega IPOs Like SpaceX and OpenAI Could Reshape S&P 500 and Nasdaq 100 Portfolios in 2026 
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Oil Prices Jump After New U.S. Strikes on Iran Raise Supply Concerns 
US Imposes Fresh Iran Oil Sanctions Despite Progress on Ceasefire Talks 
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UK Grocery Inflation Slows to 3.1% as Supermarket Price Pressures Ease in May 2026 
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European EV Sales Surge in April 2026 as Tesla and Chinese Automakers Gain Ground 
Asian Markets Slide as New U.S. Strikes on Iran Spark Investor Caution 
Singapore has raised its economic growth forecast for 2025 after reporting stronger-than-expected GDP performance in the third quarter. Official data showed the economy expanding 4.2% year-on-year in Q3, surpassing both the government’s advance estimate of 2.9% and economists’ median forecast of 4.0%. On a quarter-on-quarter seasonally adjusted basis, GDP grew 2.4%, highlighting continued resilience in the city-state’s recovery.
Following the upbeat results, the Ministry of Trade and Industry (MTI) upgraded its 2025 GDP outlook to “around 4.0%,” significantly higher than its earlier projection of 1.5% to 2.5%. For 2026, MTI expects growth to ease, forecasting an expansion of between 1.0% and 3.0%. Officials attributed the improved outlook to stronger-than-anticipated economic performance among Singapore’s major trading partners during the third quarter of 2025.
However, MTI cautioned that global risks persist. Permanent secretary Beh Swan Gin noted that ongoing trade tensions and a potential slowdown in artificial intelligence-related capital spending could weigh on future growth. While demand for AI services remains solid, he warned that investment could weaken if capital markets deteriorate.
Enterprise Singapore also updated its outlook, narrowing its 2025 non-oil domestic exports (NODX) forecast to “around 2.5%,” supported by robust AI-driven demand and elevated gold prices. For 2026, it expects NODX to grow between 0% and 2%.
In its October review, the Monetary Authority of Singapore (MAS) kept monetary policy unchanged, citing steady growth despite U.S. tariffs. MAS chief economist Edward Robinson said the current policy stance remains appropriate, with a positive output gap anticipated through 2025.
Singapore continues to face tariff-related headwinds, including a 10% U.S. levy on its exports and sector-specific duties such as a pending 100% tariff on branded pharmaceuticals. Authorities previously announced a delay in the implementation of the drug tariff to allow negotiations for potential exemptions.
