Tuesday, May 20, 2025

The Daily Market Flux - Your Complete Market Rundown (05/20/2025)

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Other News

Geopolitics Events

Trump Rallies GOP on Capitol Hill, but Key Holdouts Remain Unmoved on Tax Bill

President Trump visited Capitol Hill on Tuesday to rally Republican lawmakers behind his ambitious tax and spending bill, which encompasses much of his domestic agenda. The visit comes amid internal party divisions and holdouts that threaten to derail the legislation. Trump aimed to project unity and put pressure on GOP lawmakers to fall in line, declaring the party unified and warning that failure to pass the bill would lead to "massive tax hikes."

Qatar Defends Boeing Gift to Trump, Addresses Gaza Talks and U.S. Relations at Doha Forum

Qatar's Prime Minister defended the gift of a Boeing 747-8 to Trump, calling it a routine practice between allies. This comes amid scrutiny of U.S.-Qatar relations at the Doha forum. The PM also discussed energy deals made during Trump's recent visit and emphasized that the Boeing deal was more commercially viable than Airbus' offer. Regarding Gaza, the PM stated that ceasefire negotiations in Doha have not progressed due to fundamental differences between parties. He also addressed past bribery accusations, claiming there's no proof of wrongdoing. The forum touched on potential AI and energy partnerships between Qatar and the U.S. Meanwhile, Honda's CEO mentioned considering increased U.S. production if Trump's tariffs persist. The news also covered Trump's retreat from Ukraine talks and the reversal of a New York offshore wind project.

Trump to Reveal Controversial "Golden Dome" Missile Shield Plan in Oval Office Address

President Trump is set to unveil his ambitious "Golden Dome" missile-defense shield plan in a high-stakes announcement. The project, led by Gen. Guetlein, faces scrutiny due to high costs. The Oval Office announcement, scheduled for 3 p.m. with Defense Secretary Hegseth present, is expected to have significant implications for national security and potentially impact defense and commodities markets.

China Reports Mixed Economic Signals as Xi Stresses Stability

China's youth unemployment rate decreased to 15.8% in April. President Xi emphasizes stabilization amid uncertainties. China's lead output slightly declined, while arms exports to Pakistan continue. Foreign Minister Wang Yi will attend a mediation ceremony in Hong Kong.

Trump's Global Impact: From Ukraine Retreat to Crypto Waves, as World Leaders Navigate Complex Political Landscape

President Trump's recent actions have sparked global attention, from retreating from Ukraine peace talks to ending deportation protection for Venezuelans. Meanwhile, South Africa's President Ramaphosa is set to meet Trump, with plans to offer Elon Musk a Starlink deal beforehand. In crypto news, Justin Sun has become the top $TRUMP memecoin whale, while Trump-backed Dominari is on a Bitcoin buying spree. The Israel-Gaza conflict continues to escalate, with Israeli strikes causing numerous casualties. On the economic front, Trump's trade deals could potentially trigger a REIT boom, and Qatar's wealth fund is revising its US fixed income allocation. Despite these developments, U.S. assets remain core to investment portfolios, and wind energy stocks are topping European markets.

Trump Unveils $175B Golden Dome Project: American-Made and Congressionally Funded

Trump announces $25 billion in congressional funding for the Golden Dome project, with a total cost of $175 billion. He emphasizes all materials will be American-made.

Trump Pressures GOP on Spending Bill Amid SALT Disputes, as EV Industry Braces for Potential Cuts

Trump is rallying GOP support for a crucial spending bill, facing resistance from SALT holdouts. The bill includes potential cuts to EV subsidies, impacting charging installations. Meanwhile, Elon Musk reaffirms his commitment to Tesla. Trump's ability to profit from private businesses while campaigning is noted as "astounding." House GOP leaders grapple with difficult trade-offs as they aim to pass Trump's tax-and-spending bill, with SALT deductions being a key point of contention.

Elon Musk to Curtail Political Spending, Potentially Affecting GOP Support

Elon Musk announces plans to significantly reduce his political spending in the future, potentially impacting support for President Trump and Republicans ahead of the 2026 midterm elections. Musk believes he has "done enough" in this arena.

China Accelerates Economic Stabilization Efforts, Eyes Foreign Investment as Taiwan Seeks Dialogue

China's National Development and Reform Commission (NDRC) announced plans to implement job and economic stabilization policies by the end of June. The country aims to introduce more practical market entry requirements and enhance market access conditions. Simultaneously, China is focusing on attracting foreign investment amid global uncertainty. In related news, Taiwan's President Lai reiterated the desire for peace and dialogue with China while emphasizing the need to strengthen defenses. These developments highlight the complex economic and diplomatic landscape in the region.

UK Halts Trade Talks with Israel, Escalating Diplomatic Pressure Amid Gaza Conflict

The UK has suspended free trade agreement negotiations with Israel, signaling growing international pressure over the Gaza conflict. Foreign Secretary David Lammy announced the immediate pause amid criticism of Israel's military actions. This move comes as Israel faces mounting diplomatic challenges, with the UK also imposing new sanctions related to the West Bank. Israel, however, maintains that external pressure will not alter its course of action.

Trump Administration Faces Backlash Over Deportations and Visa Revocations, as Noem Misdefines Legal Term

Immigration rights advocates accuse the Trump administration of deporting migrants from Myanmar and Vietnam to South Sudan, allegedly violating a court order. The Boston court had barred transfers without vetting torture or persecution risks. Meanwhile, Governor Kristi Noem incorrectly defined habeas corpus as the president's right to deport people. Senator Rubio raised concerns about thousands of visas being revoked amid a crackdown on pro-Palestinian speech, sparking debates on due process and First Amendment rights.

Trump Pushes Tax Bill, Warns of Hikes if Not Passed

President Trump warns that failing to pass his tax bill could lead to massive tax hikes. He dismisses Republican opposition as grandstanding and assures no significant cuts to major social programs.

Qatar Wealth Fund Expands US Investments, Defends Trump Jet Offer as China Fills WHO Funding Gap

Qatar's wealth fund is revising its US fixed income allocation, aiming to double investments after a $500 billion pledge. The fund's chief defends a jet gift offer to Trump as normal between allies, while China boosts WHO funding amid US withdrawal.

Trump Touts "Roaring" Economy and Party Unity Amid Mixed Reactions

President Trump asserts that the economy is "roaring," emphasizing strong growth, job creation, and confidence under his administration. He claims party unity and dismisses concerns about holdouts.

China's Youth Jobless Rate Improves Amid Mixed Economic Indicators

China's youth unemployment rate dropped to 15.8% in April, excluding students. Despite this improvement, fiscal revenues declined 0.4% year-on-year, while expenditures increased 4.6%. Output of lead and gasoline also decreased, reflecting economic challenges.

South Africa Eyes Starlink Deal with Musk Before Trump Rendezvous

South Africa plans to propose a Starlink deal to Elon Musk ahead of his meeting with former President Trump, according to Bloomberg News.

Trump and Defense Secretary's Surprise Announcement Sparks Speculation

President Trump and the Secretary of Defense are set to make a joint announcement at 3 PM ET. This unexpected event suggests potential military or geopolitical developments, potentially impacting markets, especially defense and energy sectors.

Fixed Income And Interest Rates Events

Market Rollercoaster: Stocks Hit New Highs and Lows as Treasury Yields Surge

The stock market experienced significant volatility, with numerous companies hitting 52-week highs and lows. Notable gainers included Mosaic, Insulet, D-Wave Quantum, and Chesapeake Energy, reaching new peaks amid robust market demand and growth. Conversely, stocks like VYNE and RVYL touched 52-week lows. The tech sector saw mixed results, with IBM and Axon soaring to all-time highs, while Palantir Technologies and Rivian faced scrutiny. Energy stocks like EQT and Hallador Energy benefited from the sector's surge. Wall Street faced pressure as the 30-year Treasury yield approached 5%, impacting overall market sentiment. Despite challenges, some sectors showed resilience, with Monster Beverage and Evertec hitting new highs amid steady growth.

RBA Cuts Interest Rate to 3.85%, Forecasts Further Reductions Amid Global Economic Pressures

The Reserve Bank of Australia (RBA) cut interest rates by 25 basis points to 3.85%, meeting expectations. This decision comes amid concerns over US tariffs and follows China's rate cut. The RBA projects further reductions in the cash rate through 2026.

U.S. Credit Downgrade Sparks Global Market Jitters as Treasury Yields Surge and Dollar Weakens

The financial world is abuzz with concerns over the U.S. credit downgrade by Moody's, which has sent shockwaves through global markets. This downgrade has highlighted worries about the sustainability of U.S. debt levels and their potential impact on Treasury yields and the dollar. Investors are growing increasingly nervous about the size of U.S. public debt, with many sharing Moody's concerns about the deficit. The situation has led to a weakening dollar and high longer-dated Treasury yields, with the 30-year yield approaching 5%.

BOJ Reveals Mixed Market Reactions to Bond Buying Strategy, Highlighting Liquidity Concerns

The Bank of Japan (BOJ) has released diverse opinions from bond market participants regarding its bond buying plan. Some seek smaller cuts, while others advocate for larger reductions. Concerns about liquidity in super-long JGBs were raised, with suggestions ranging from terminating the taper to increasing purchase amounts. Views on the pace of tapering from fiscal 2026 varied, as did opinions on the duration of the new taper plan. The BOJ noted improvements in JGB market functionality due to tapering, but acknowledged distortions in yields across maturities.

Japanese Super-Long Bond Yields Soar to Record Highs, Pressuring BOJ

Japan's 30-year and 40-year bond yields hit record highs following weak demand at a recent auction. The Bank of Japan faces pressure as markets worry about fiscal risks and declining investor appetite. Some are calling for the BOJ to halt tapering of super-long bonds amid plunging liquidity, with the central bank set to consider feedback at its upcoming meeting.

BoE's Pill Urges Caution on Rate Cuts, Citing Persistent Inflation Risks

Bank of England's chief economist, Pill, signals a pause in rate cuts, calling the May vote a "skip." He warns that the quarterly pace of 25bp cuts since last summer is too rapid given the inflation outlook. While acknowledging an ongoing disinflation trend, Pill highlights lingering inflation risks due to structural changes in price and wage-setting behavior, which have increased the intrinsic persistence of UK inflation. This stance suggests a more cautious approach to future rate decisions.

Japan's 20-Year Bond Auction Hits Decade-Low Demand, Raising Market Concerns

Japan's 20-year bond auction saw the lowest demand since 2012, with a weak tail demand measure not seen since 1987, signaling potential shifts in the bond market.

European Bond Markets Hit Milestones as Sales Surge Past €1 Trillion

European bond markets are experiencing record-breaking activity. ECB's PEPP holdings reached €1.52 trillion, while public-sector bond purchases settled at €2.01 trillion. Debt sales arranged by bankers across Europe have surpassed €1 trillion at an unprecedented pace.

Macro Events

Market Rollercoaster: Stocks Hit New Highs and Lows as Treasury Yields Surge

Central Banks Wrestle with Trade Policy Impacts as Global Economy Faces Inflation Uncertainty

The global economic landscape is facing uncertainty as central banks grapple with the impact of trade policies on inflation and interest rates. European Central Bank (ECB) policymaker Klaas Knot emphasized the need for clarity on U.S. and EU trade policies before deciding on potential rate cuts in June. The ECB's projections are expected to show lower inflation in the short term, but long-term uncertainties persist. Meanwhile, China's fiscal situation is showing signs of improvement despite tariff headwinds, with stimulus measures and a trade truce offering some relief.

RBA Cuts Interest Rate to 3.85%, Forecasts Further Reductions Amid Global Economic Pressures

Canadian Inflation Eases to 1.7% in April, but Core Measures Remain Elevated

Canada's April inflation data shows a mixed picture. While headline CPI eased to 1.7% year-over-year, core measures remained elevated. The Bank of Canada's core CPI rose to 2.5% annually, surpassing expectations. Despite the overall easing, trimmed and median CPI measures increased, indicating persistent underlying inflationary pressures. The data reflects the impact of carbon price removal and suggests a complex economic landscape.

U.S. Credit Downgrade Sparks Global Market Jitters as Treasury Yields Surge and Dollar Weakens

EU and UK Ramp Up Pressure on Russia with New Sanctions Targeting Shadow Fleet and Key Sectors

The EU has approved its 17th sanctions package against Russia, targeting 189 vessels in the "shadow fleet" used to circumvent restrictions. Simultaneously, the UK expanded its sanctions, adding 82 new designations across military, energy, and financial sectors. These coordinated efforts by Western allies aim to tighten pressure on Moscow and counter Russia's information war against Ukraine.

BOJ Reveals Mixed Market Reactions to Bond Buying Strategy, Highlighting Liquidity Concerns

Fed's Musalem: Balanced Approach Possible, But Price Stability Key If Inflation Expectations Shift

St. Louis Fed's Musalem states that current monetary policy is well-positioned, with a 'moderately restrictive' stance appropriate for now. He suggests a balanced approach to addressing inflation and unemployment is feasible if inflation expectations remain anchored. However, if expectations de-anchor, the Fed should prioritize price stability. Musalem notes economic policy uncertainty is unusually high, and warns that tariffs could raise prices and soften the labor market.

Japanese Super-Long Bond Yields Soar to Record Highs, Pressuring BOJ

BoE's Pill Urges Caution on Rate Cuts, Citing Persistent Inflation Risks

RBA Governor Bullock Unveils Rate Cut Decision, Expresses Caution on Economic Outlook

RBA Governor Bullock revealed a consensus decision to cut rates, with discussions on holding or further cuts. While cautiously optimistic about the jobs-inflation balance, she noted market risks and impacts on firm margins. Bullock emphasized uncertainty about future rate cuts and declined to endorse market pricing, maintaining a vigilant stance on potential crises.

German Producer Prices Plunge, Fueling Eurozone Deflation Concerns

Germany's April producer prices show a deepening deflationary trend, falling 0.9% year-over-year and 0.6% month-over-month, both worse than expected. This data, along with upcoming CPI reports and central bank speeches, signals ongoing economic challenges in the Eurozone.

Fed's Hammack: Tax Bill and Trade Tensions Cloud Economic Outlook

Fed official Hammack warns that the White House tax bill complicates economic forecasts, adding uncertainty to Fed modeling. He cautions against overreacting to trade issues but acknowledges that tariffs create a "transition period" with potential stagflationary outcomes. Hammack emphasizes the need for careful consideration of policy impacts on economic activity amid tremendous uncertainty.

Trade War Fallout: Honda Mulls US Production Boost as Apple's China Exports Plummet

The ongoing US-China trade war is causing significant disruptions in global trade. Honda's CEO considers increasing US production if tariffs persist, while Apple's iPhone exports from China to the US hit a 14-year low. GM has halted some car exports to China, and global exporters' moods have dampened. The situation remains volatile, with stock markets reacting to tariff talks and companies adapting to new trade realities.

Eurozone Consumer Confidence Beats Expectations in May, Hinting at Economic Resilience

Eurozone consumer confidence surged in May, reaching -15.2 from April's -16.6, surpassing the forecast of -16.0. This unexpected rise, along with improved EU-wide morale, suggests a cautious optimism among consumers despite ongoing economic uncertainties. The data signals a potential shift in consumer sentiment across the region.

S&P 500's 6-Day Win Streak Ends as Tech Rally Fizzles and Tariff Relief Optimism Fades

U.S. stocks ended lower, with the S&P 500 snapping its 6-day winning streak. The market rally lost momentum as tech stocks faded and the initial enthusiasm over tariff relief waned. The S&P 500 and Nasdaq 100 both closed down 0.4%.

Eurozone Current Account Surplus Soars in March, Beating Forecasts

Eurozone's March current account surplus surged to 50.9 billion euros, significantly exceeding expectations and previous figures, indicating improved economic performance in the region.

Home Depot Feels the Pinch as Economic Woes Dampen Sales

Home Depot's quarterly sales and profit fell short of expectations, reflecting weakening consumer sentiment and economic volatility. This indicates a squeeze on consumer spending in the home improvement sector.

Fed's Musalem: Labor Force Growth Persists Despite Immigration Slowdown

Despite a decline in immigration, the U.S. labor force continues to grow at 1.8% annually, with immigrants contributing about 20%. Fed's Musalem notes some mild scarcity of workers in certain industries, but overall workforce expansion remains steady.

Home Depot Holds Prices Steady Amid Tariff Concerns, Reports Strong U.S. Sales

Home Depot announces it will maintain current pricing despite tariff pressures, citing surprise growth in U.S. sales. The company acknowledges tariff and supply chain risks but refrains from revising its outlook.

Japan Weighs US Tariff Reduction Offer, Holds Firm on Elimination Demand

Japan is considering accepting a reduction in US tariffs rather than a full exemption, according to Kyodo. Japan's trade envoy maintains their stance on demanding complete tariff elimination from the US.

Crypto Events

Bitcoin Hits Record $2.1 Trillion Market Cap, Surpassing Google, as ETF Inflows and Senate Bill Fuel Rally

Bitcoin has reached a new all-time high, with its market cap surpassing $2.1 trillion, overtaking Google and silver. The cryptocurrency is now trading around $105,000, eyeing Amazon as its next market cap target. This bull run is considered unique due to several catalysts reshaping the crypto cycle. Spot ETFs have seen significant inflows, with BlackRock's IBIT leading at $305.9M. The U.S. Senate's advancement of a stablecoin bill has contributed to price gains. However, the volatile rally to $107K resulted in $845M in liquidations, raising concerns about a potential crash. Key support levels are at $101K-$102K, with resistance at $107K. On-chain data shows consistent buys on Coinbase and reduced selling pressure on Binance, suggesting the rally is backed by real buyers. Meanwhile, Germany's decision to sell Bitcoin at $54K less than a year ago has resulted in a missed opportunity worth $2.9 billion.

Trump's Global Impact: From Ukraine Retreat to Crypto Waves, as World Leaders Navigate Complex Political Landscape

Milei Dissolves Argentine Crypto Probe Unit Amid Libra Scandal

President Milei closes Argentina's unit investigating the Libra cryptocurrency scandal, raising questions about the government's stance on crypto-related investigations.

Standard Chartered Forecasts Bitcoin to Reach $500,000 by 2028, Backed by SEC Data

Standard Chartered's Geoff Kendrick predicts Bitcoin could hit $500,000 by 2028, citing recent SEC 13F filings as support. Despite a dip in direct ETF holdings, government entities are increasing stakes in Bitcoin-exposed companies like Strategy. This bullish outlook, backed by strong institutional inflows, signals growing Wall Street adoption and confidence in Bitcoin's long-term potential as a store of value and monetary asset.

'Hawk Tuah' Meme Star's Crypto Venture Crashes, Creator Claims Ignorance

Hailey Welch, known for the "hawk tuah" meme, addressed her failed cryptocurrency launch. Her $HAWK memecoin crashed 95%, with $180K of "real money" lost. Welch claimed ignorance about crypto operations, turning her viral fame into a controversial rug pull incident.

Technology Events

Tesla's Robotaxi Revolution: Musk Confirms June Launch in Austin, Predicts Rapid Expansion

Tesla CEO Elon Musk has reaffirmed the company's commitment to launching its robotaxi service in Austin, Texas by the end of June. The initial rollout will start with 10 vehicles in the first week, scaling up to approximately 1,000 over the next few months. These autonomous vehicles will operate without safety drivers, marking a significant milestone in Tesla's self-driving technology. Musk also revealed plans to expand the service to other cities and predicted that by the end of next year, there could be hundreds of thousands or even millions of self-driving Teslas on U.S. roads. Additionally, Tesla owners will have the opportunity to rent out their vehicles for use as robotaxis, similar to the Airbnb model. Musk expressed confidence in Tesla's Full Self-Driving technology, mentioning ongoing talks with major automakers about licensing the system.

AI Advancements Spark Optimism and Caution Across Industries, as Monetization Challenges Persist

AI technology is making waves across various sectors, from military simulations to supercomputing and job markets. While Palantir Technologies urges caution, OpenAI's COO remains optimistic about AI's impact on employment. In China, AI is ubiquitous but faces monetization challenges. Nvidia's CEO made significant announcements at Computex, and companies like Advantech and Youdao are grappling with AI integration and monetization uncertainties.

Google Showcases AI Innovations at I/O, Highlighting Rapid Growth and New Products

Google unveils major AI advancements at I/O conference, including Gemini 2.5 Flash and Google Beam. CEO Pichai emphasizes rapid AI deployment, with 400 million monthly Gemini users. The company faces high stakes in AI competition.

Warby Parker and Google Join Forces for Smart Glasses Revolution

Warby Parker and Google collaborate to develop AI-powered eyewear, combining fashion with advanced technology. Stock prices surge on announcement.

Google Launches "AI Mode" to Revolutionize Search and Combat Rivals

Google unveils "AI Mode" for Search, featuring chatbot-style conversations and enhanced capabilities. This ambitious move aims to counter AI competitors and address challenges to its search business. The update includes deeper research, comparison shopping, and expanded support, showcasing Google's commitment to AI innovation.

Apple Opens AI Models to Developers, Sparking App Innovation

Apple will unveil a new AI strategy at WWDC on June 9, allowing developers access to large language models. This move aims to stimulate the creation of innovative AI-powered apps.

AI Stocks Surge: CoreWeave Jumps 28% as Tech Giants and Startups Vie for AI Dominance

AI-related stocks are gaining attention in the market. NVIDIA-backed CoreWeave surges 28%, while Microsoft explores AI monetization. Toast and Sanmina leverage AI for growth, and comparisons are drawn between Super Micro Computer and Intel in the AI space.

Levi's Offloads Dockers for $311M to Refocus on Core Brands

Levi Strauss & Co. is selling its Dockers brand to Authentic Brands Group for $311 million. The move aims to sharpen focus on core brands and boost direct-to-consumer strategy. The global exit is expected to complete by January 2026.

Honda Pivots: Cuts EV Budget, Embraces Hybrid Future

Honda reduces EV investment by 30% to $48.4B, citing weak demand. The automaker plans to launch 13 new hybrid models by 2027, shifting focus to meet rising market interest in hybrid vehicles.

Google Launches Premium "AI Ultra" Plan at $249.99/Month for AI Enthusiasts

Google introduces "AI Ultra," a $249.99 monthly subscription for AI power users in the US. The plan offers 30TB storage, ad-free YouTube, and early access to new features.

Intel Mulls Sale of Networking and Edge Division

Intel is reportedly considering selling its networking and edge unit, known as NEX, according to sources familiar with the matter.

Google and Xreal Unveil Affordable AR Glasses to Challenge Meta and Apple

Google partners with Xreal to launch Project Aura, lightweight AR glasses running Android XR. Powered by Qualcomm chips and a companion puck, these sub-$1000 glasses aim to compete with Meta's upcoming Artemis and Apple's offerings in the AR space.

D-Wave Unveils Advantage2: Advanced Quantum Computing for Challenging Tasks

D-Wave Quantum has launched Advantage2, an advanced quantum computer system designed for energy-efficient computing of complex problems. The announcement has positively impacted the company's stock price.

Musk Pursues Legal Action Against OpenAI, Shaking Up AI Landscape

Elon Musk confirms he's proceeding with a lawsuit against OpenAI, escalating tensions in the AI industry. This move could affect OpenAI's partnerships and attract regulatory scrutiny, though immediate market impact may be limited.

Healthcare Events

FDA Tightens COVID Booster Approval Process, Mandates New Trials for Healthy Individuals

The FDA has announced stricter standards for approving COVID-19 vaccine boosters for healthy individuals under 65. New clinical trials will be required to demonstrate safety and efficacy before authorization. This decision affects healthy adults and children, while high-risk groups, including those over 65, obese individuals, and those with mental health conditions, can still receive boosters without additional trials.

Pharma Giants Reveal Strategic Shifts and Clinical Advancements at Healthcare Conferences

Recent healthcare conferences highlighted strategic shifts and clinical progress across pharmaceutical companies. Altimmune, ANI Pharmaceuticals, and Arrowhead focused on liver diseases and rare conditions. Johnson & Johnson and Regeneron discussed growth strategies amid challenges. Genentech updated on an FDA advisory meeting for a lymphoma treatment. The Hill hosted talks on breaking down financial barriers to clinical trial participation.

Biotech Sector Surges with FDA Approvals, Collaborations, and Promising Trial Results

The biotech sector is buzzing with activity. Tempus and Verastem collaborate on a cancer diagnostic, while psychedelic stocks rise following FDA comments. NeurAxis doubles after FDA clearance, and Pfizer licenses a cancer drug for $1.2 billion. atai Life Sciences reports positive depression trial results, and ZyVersa highlights a study on neurodegenerative diseases. Several companies face critical milestones in their drug development journeys.

NeurAxis Leads Biotech Rally with FDA Clearance; Pfizer Inks $1.2B Cancer Drug Deal

NeurAxis stock soars 172% after FDA clearance for IB-Stim, a treatment for pediatric functional dyspepsia. Pfizer licenses 3SBio's cancer drug for $1.2 billion. bioAffinity Technologies to receive US patent for cancer treatment. Pasithea's PAS-004 shows promise in inflammatory disease study. Quantum Computing Inc. announces availability of Advantage2 system. Xenon Pharmaceuticals and Perspective Therapeutics face pivotal years in neurological and rare disease treatments.

Oil And Gas Events

Oil Prices Fluctuate Amid Iran Uncertainty; Natural Gas Surges on Supply Concerns

Oil markets experienced choppy trading as investors await clarity on Iran sanctions. Brent crude settled at $65.38/bbl, down 0.24%, while WTI crude settled at $62.56/bbl, down 0.21%. Natural gas futures extended gains, up 10% on lower output and forecasts for a hot summer. Value investors are seeking bargains in the oil and gas sector, while Saudi Arabia may increase summer crude burn for power generation.

ConocoPhillips CEO: U.S. Shale Production at Risk of Stagnation Amid Current Oil Prices

ConocoPhillips CEO warns that U.S. shale production could plateau or decline if oil prices remain in the current range. The break-even point for shale hasn't shifted significantly, but Conoco's low-cost resources help maintain profitability. The energy industry is expected to grow long-term by about 1 million barrels per day, despite market volatility.

Natural Gas Emerges as Pivotal Player in Global Energy Transition

Natural gas is gaining prominence as a key energy source, with major companies investing in projects worldwide. Industry leaders argue that gas is crucial for balancing renewable energy and reducing emissions. Developments include new LNG projects, increased demand projections, and significant investments in gas infrastructure globally.

Qatar Aims to Quadruple LNG Trading by 2030, Seeks Higher Oil Prices

Qatar Energy Minister announces QatarEnergy's plan to expand LNG trading from 10 million tons currently to 30-40 million non-Qatari tons by 2030. Chinese and Indian buyers seek additional volumes, with expansion requiring higher oil prices.

Oil Market Dynamics: Shale Predictions, Natural Gas Moves, and Norway's Production Update

ConocoPhillips CEO predicts US shale oil's future based on WTI prices: decline at $50s, plateau at $60s, growth at high $60s-$70s. Natural gas markets show movement, with leveraged ETFs BOIL and KOLD amplifying price changes. Norway reports April oil production at 1.828mbpd. Crude oil builds a base on Tuesday.

Kazakhstan Boosts Oil Output Despite OPEC+ Commitments, Tengiz Field Maxed Out

Kazakhstan's oil production has increased by 2% in May, reaching 1.86 million barrels per day, with the Tengiz field contributing 932,000 BPD. Despite this rise, the Energy Ministry claims Tengiz has reached capacity and output won't increase further this year, asserting compliance with OPEC+ obligations.

Stock Markets Events

Wall Street Retreats as Tech Weakness and Doubts Threaten Recent Rally

Wall Street experienced a slight dip on Tuesday, with major indexes retreating from recent gains. The S&P 500 fell 0.3%, potentially ending its six-day winning streak, while the Nasdaq Composite dropped 0.4%. The Dow Jones Industrial Average lost 62 points (0.1%). Tech stocks were the weakest performers, with Nvidia, Meta, Apple, and Microsoft all declining. Home Depot's earnings provided a bright spot, but overall market sentiment wavered as investors reassessed the recent rally amid emerging doubts.

Wall Street Braces for Pullback as Stock Futures Slip, Ending S&P 500's Winning Streak

U.S. stock futures retreated on Tuesday, potentially ending the S&P 500's six-day winning streak. Futures for major indices slipped, with S&P 500 down 0.4% and Nasdaq 100 dropping 0.5%. The pullback follows recent gains and overbought levels, raising doubts about market resilience. Home Depot earnings are in focus amid the market uncertainty.

Global Markets Influence Daily Life: From Avocados to 401(k)s, Stocks React to Shifts

Global markets impact everyday items like avocados and oil, as well as 401(k)s. Tesla, CATL, UnitedHealth, Nvidia, and Home Depot are notable stock movers. Lumentum and Caterpillar navigate market shifts, while JD Logistics powers JD Retail's expansion. Investors use the VIX to measure fear and confirm market bottoms.

Earnings Events

Home Depot Q1 Earnings Beat Revenue Expectations, Miss on EPS; Maintains Fiscal Year Outlook

Home Depot's Q1 2026 earnings show mixed results, with net sales of $39.86b beating estimates but adjusted EPS falling short at $3.56. Comp sales declined 0.3%, slightly worse than expected. The company maintains its fiscal year outlook, projecting 1% comp sales growth and about 2.8% total sales increase. Home Depot reaffirms its commitment to customer engagement in smaller projects and spring events.

Palo Alto Networks Beats Q3 Revenue Estimates, Misses on Profits; Offers Upbeat Q4 Outlook

Palo Alto Networks reported strong Q3 results, with revenue of $2.29B beating estimates and growing 15% YoY. Next-Gen Security ARR surged 34% to $5.1B. Despite revenue gains, profits missed expectations. The company provided optimistic Q4 guidance, projecting revenue of $2.49B-$2.51B and EPS of $0.87-$0.89.

Keysight Technologies Soars on Strong Q2 Performance

Keysight Technologies surpasses Q2 expectations with higher profit and revenue, causing shares to climb 3%. The company's earnings beat estimates by $0.05.

Corporate Actions Events

Musk Pledges 5-Year Tesla Leadership, Teases Future Starlink IPO

Elon Musk affirms his commitment to Tesla for the next five years, noting the company's turnaround despite challenges in Europe. He also hints at a potential Starlink IPO in the future, but emphasizes a cautious approach, prioritizing long-term growth over immediate capital gains.

Carter's Slashes Dividend, Stock Tumbles Amid Tariff Concerns

Carter's reduces dividend due to potential tariff-related cost increases and challenging market conditions, causing stock price to decline.

Metals Events

Nippon Steel Pursues Full U.S. Steel Takeover, Seeks Treasury Meeting

Nippon Steel remains committed to fully acquiring U.S. Steel, seeking a meeting with Treasury Secretary Bessent to discuss the deal. The Japanese firm aims for CFIUS approval, pledging $14B in U.S. investment. They argue full control is necessary for tech sharing and aligns with Trump's pro-manufacturing agenda.

Gold Soars Past $3,260/oz as Safe-Haven Demand Intensifies

Gold prices surge over 1% to $3,264.59/oz, nearing $3,300/oz, as investors seek safe havens amid market uncertainty. The precious metal has gained 5% since May 15th, with platinum also rising. Gold and Bitcoin emerge as preferred global safe-haven assets.

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