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Top Stories
Nvidia's AI-Driven Boom Ignites Tech Sector Optimism
Nvidia's Q1 sales soared 69% year-over-year, driven by global AI chip demand. The company's success sparked a rally in chip stocks and renewed investor confidence in the tech sector, despite challenges in the Chinese market.
Court Blocks Trump Tariffs, Sparking Global Market Rally Amid Lingering Trade Uncertainty
Global markets rally as US court blocks Trump's sweeping tariffs, citing overstepped authority. Stocks, commodities, and futures surge, while experts warn of potential volatility as the White House may appeal or seek alternative tariff measures.
Fed's Powell Meets Trump: Economic Talks, No Policy Hints
Fed Chair Powell met with President Trump at the White House to discuss economic developments. Powell emphasized that future monetary policy decisions will depend on incoming economic data, without disclosing specific expectations.
US Mulls Supreme Court Appeal to Preserve Tariff Structure
The US government is considering approaching the Supreme Court on Friday to maintain existing tariffs. This move suggests a potential legal battle over trade policies, with implications for international commerce and economic relations.
Elon Musk Exits Trump Administration, Concluding Government Efficiency Drive
Elon Musk announces the end of his role as a special government employee, thanking President Trump for the opportunity to reduce wasteful spending. His departure from the Trump administration marks the conclusion of his efforts to restructure and streamline government operations.
Company News
Best Buy Co., Inc. (BBY)
Performance Overview
1D Change: -7.28%
5D Change: -6.78%
News Volume: 84
Unusual Volume Factor: 16x
Best Buy Slashes Outlook as Tariffs Squeeze Electronics Sales, Stock Tumbles
Best Buy, the electronics retail giant, has released its Q1 2025 earnings report, revealing a mixed bag of results that have sent ripples through the market. The company reported adjusted earnings per share of $1.15, surpassing the estimated $1.09. However, revenue fell short of expectations, coming in at $8.77 billion against an estimated $8.80 billion.
Full coverage of $BBY on MarketFlux.io
Li Auto Inc. (LI)
Performance Overview
1D Change: 2.1%
5D Change: 0.83%
News Volume: 31
Unusual Volume Factor: 13x
Li Auto Reports Mixed Q1 Results, Stock Recovers as Investors Eye Future Potential
Li Auto, the Chinese electric vehicle maker, released its Q1 2025 earnings report today, revealing a mixed bag of results. The company topped estimates with a 1.1% year-over-year increase in revenue to RMB 25.9 billion ($3.57 billion) and reported a non-GAAP net profit of RMB 1.02 billion. Vehicle deliveries reached 92,864 units, marking a 15% jump.
Full coverage of $LI on MarketFlux.io
Hormel Foods Corporation (HRL)
Performance Overview
1D Change: 1.23%
5D Change: 0.86%
News Volume: 32
Unusual Volume Factor: 11x
Hormel Foods Narrows Guidance Amid Mixed Q2 Results and Tariff Concerns
Hormel Foods Corporation released its Q2 2025 earnings report, revealing mixed results and a narrowed outlook for the fiscal year. The company reported adjusted earnings per share of $0.35, matching analyst estimates. However, revenue fell short at $2.9 billion, slightly below the expected $2.92 billion.
Full coverage of $HRL on MarketFlux.io
Other News
Macro Events
Fed's Goolsbee: Tariff Avoidance Could Pave Way for Interest Rate Cuts
Fed's Goolsbee suggests that avoiding tariffs through a deal or other means could lead to a scenario where interest rates can be reduced, potentially impacting financial markets and precious metals.
US Jobless Claims Exceed Expectations, Signaling Potential Labor Market Softening
US jobless claims rose to 240,000 in the May 24 week, surpassing estimates of 230,000. Continuing claims increased to 1.919 million, higher than expected, indicating a slight uptick in unemployment.
Canadian PM Carney: U.S. Tariffs on Steel and Autos Persist Despite Favorable Court Ruling
Canadian PM Carney welcomes a U.S. court ruling on tariffs but emphasizes that Canada continues to face unjustified U.S. tariffs on steel and automobiles, highlighting ongoing trade tensions between the two nations.
BoE's Bailey Calls for Open Markets and Trade System Reform Amid Global Tensions
Bank of England Governor Andrew Bailey advocates for increasing financial market openness by reducing non-tariff barriers. He acknowledges the breakdown of the world trading system and calls for WTO reform. Bailey emphasizes minimizing Brexit's negative effects on trade, warns against dismissing trade restriction arguments, and notes that global industrial policies have heightened trade tensions. He also stresses that trade imbalances between countries are normal and should be expected.
Fed's Kulger Shifts Focus to Market Dynamics and Asset Demand, Sidesteps Policy Talk
Fed's Kulger, speaking at a macro-finance workshop in Washington, avoided discussing economic and monetary policy outlooks. Instead, he focused on key areas of interest: the relationship between trade and market vulnerability, potential shifts in demand for U.S. assets, the safe-haven status of U.S. assets, and risks in commercial real estate. Kulger emphasized the need for better understanding of these factors and their connections to the broader economy.
Fed's Daly: Solid Labor Market Progress, but Inflation Concerns Persist
Fed's Daly reports solid labor market progress towards 2% inflation goal. Workers concerned about inflation, which won't reach 2% this year. Fed remains committed to addressing inflation, balancing labor market needs.
Trump Tariffs Wreak $34 Billion Havoc on Global Corporations, Reshaping Business Landscape
Global giants like Apple, Ford, and Walmart have slashed forecasts due to Trump's tariffs, costing firms over $34 billion. The trade war has disrupted supply chains, fueled inflation, and created widespread uncertainty, forcing companies to rethink strategies and halt guidance amid economic chaos.
Fed Official Goolsbee: Economy Trending Stagflationary, But Not There Yet
Fed's Goolsbee warns of stagflationary direction but asserts it's not full stagflation. He emphasizes that while challenging, the current economic situation isn't the toughest scenario for central banks.
Italian Industrial Sales Slump, Trade Balance Narrows in March
Italian industrial sales declined 1.6% month-over-month and 1.1% year-over-year in March. The non-EU trade balance dropped to 2.18B from 5.96B. These figures indicate a weakening in Italy's industrial sector and trade performance.
Fed's Daly: Economic Growth Boosted by Deregulation, but Uncertainty Looms over Immigration and Tariffs
Fed's Daly highlights the positive impact of deregulation and tax relief on economic growth, while expressing uncertainty about immigration and tariff policies. She notes it's too early to speculate on their effects. Businesses are reportedly continuing operations but taking fewer risks, adopting a "wait and see" approach. Daly emphasizes the lack of clarity on the scope, size, and timing of tariffs, underscoring the current economic policy uncertainty.
Japan's FinMin Kato: G7 Progress on Tariffs, Forex Rates; Vigilant on Bond Markets
Japan's Finance Minister Kato reports positive signs in G7 tariff talks and agreement on market-set forex rates. He emphasizes monitoring financial markets, particularly super-long bond yields, and pledges thorough communication with market players. Kato also notes productive discussions with U.S. Treasury Secretary Bessent.
Italian Consumer Confidence Soars, Beating Forecasts in May
Italian consumer confidence surges to 96.5 in May, surpassing expectations. Manufacturing confidence and economic sentiment also improve, while non-EU trade balance declines.
UK Public Lowers Short-Term Inflation Outlook, Long-Term View Steady
UK public's inflation expectations for the coming year dropped to 4.0% in May from 4.2% in April, while longer-term expectations remained steady at 4.2%, according to a Citi/YouGov survey.
South Africa Surprises with Larger-than-Expected Rate Cut to 7%
South Africa's central bank cuts benchmark rate by 50 basis points to 7%, surpassing expectations of 7.25%. The move aims to boost growth as inflation pressures ease.
Slovak Central Bank Chief Convicted of Bribery, Fined €200,000
Slovakia's central bank governor and ECB Governing Council member Peter Kazimir has been convicted of bribery by a Slovak court. He was fined €200,000 ($225,000) in a corruption case, impacting financial markets and the European Central Bank.
Technology Events
Nvidia's Record-Breaking Quarter Fuels Global AI Chip Frenzy and Tech Sector Optimism
Nvidia's stellar first-quarter performance, with a 69% year-over-year sales growth, has ignited a global chip rally and reinforced investor confidence in the tech sector. The AI chip maker's record $44 billion revenue, despite being shut out of China, demonstrates the surging demand for AI chips worldwide. This success has sparked discussions about the US-China AI race, data center deals, and the role of American platforms in the global AI market. Other tech companies, including AMD and bitcoin miners, are also benefiting from the AI boom. The news has led to significant stock price increases for Nvidia and other chip-related companies, with analysts and strategists recommending continued investment in the sector.
New York Times and Amazon Forge Landmark AI Content Licensing Agreement
The New York Times and Amazon have struck a groundbreaking AI licensing deal. This agreement allows Amazon to use the Times' content for its AI platforms, potentially including Alexa. It marks the Times' first venture into monetizing journalism through AI partnerships, setting a precedent in the media industry.
Tesla to Launch Self-Driving Model Y Deliveries in June After Successful Austin Tests
Tesla is set to begin deliveries of self-driving Model Y cars in June, marking a significant milestone in autonomous vehicle technology. Elon Musk revealed that Tesla has been conducting successful tests of these vehicles on public streets in Austin, with no one in the driver's seat and no reported incidents. This launch represents a crucial step in Tesla's Full Self-Driving ambitions and the future of autonomous EVs.
Google Takes on Apple with Direct Pixel Sales in India, Eyes Physical Retail Expansion
Google has launched direct-to-consumer sales of Pixel devices through its official online store in India, marking a strategic move to strengthen its presence in the rapidly growing smartphone market. This initiative aims to challenge Apple's dominance in the premium segment and precedes the opening of Google's first physical store in the country. The move caters to India's vast 712 million smartphone user base.
Meta and Anduril Unite to Revolutionize Military Tech with AI and XR Innovations
Meta Platforms Inc. and defense contractor Anduril Industries are joining forces to develop advanced XR and AI-powered products for the U.S. military. This collaboration aims to enhance battlefield awareness and control of autonomous systems, combining Meta's Reality Labs expertise with Anduril's Lattice platform to create innovative military technologies, including AI-powered helmets with VR/AR capabilities.
Grammarly's $1B Boost: AI Writing Tool Secures Massive Funding for Expansion
Grammarly secures $1 billion in non-dilutive funding from General Catalyst to expand AI-driven productivity tools, fuel growth, and explore M&A opportunities. This innovative funding model ties returns to revenue, not equity.
DeepSeek Upgrades AI Model, Challenges US Competitors
Chinese AI startup DeepSeek released an upgraded R1 reasoning model, claiming improved performance in math, programming, and logic while reducing hallucinations. This move intensifies competition with US rivals like OpenAI.
Geopolitics Events
Fed's Powell Meets Trump: Economy Discussed, Monetary Policy Off-Table
Fed Chair Powell met with President Trump at the White House, discussing economic developments but not monetary policy expectations. Powell emphasized his policy decisions will depend on incoming economic data.
U.S. Economy Contracts 0.2% in Q1, Beating Expectations Amid Trade Pressures and Sluggish Consumer Spending
The U.S. economy experienced a slight contraction in the first quarter of 2025, with GDP shrinking at an annualized rate of 0.2%. This figure, while still negative, represents an improvement from the initial estimate of -0.3%. The decline was primarily attributed to weaker consumer spending and a larger trade impact than initially reported. Personal consumption expenditures rose by 1.2%, falling short of expectations. Imports surged by 42.6%, while exports increased by 2.4%, resulting in net exports subtracting 4.90 percentage points from GDP. Despite the overall contraction, there were some positive indicators, including a 24.8% increase in equipment investment. The GDP price index rose by 3.7% year-over-year, matching expectations and marking the highest increase since Q1 2023.
Federal Judge to Expand Block on Trump's Foreign Student Ban, Favoring Harvard
A federal judge has announced plans to issue a broad injunction blocking the Trump administration's ban on foreign students at Harvard University. The judge aims to preserve the status quo while a new administrative process plays out in the Harvard case. This decision extends a temporary order that prevents the immediate revocation of Harvard's ability to enroll international students. The judge's ruling comes as a significant victory for Harvard in its legal battle against the Trump administration's attempt to bar foreign student enrollment. The case has garnered widespread attention and is seen as a crucial development in the ongoing debate over immigration policies in higher education.
Japan's PM Ishiba and Trump Hold Crucial Tariff Talks, Deepening Understanding Ahead of Key Negotiations
Japanese Prime Minister Ishiba initiated a 25-minute phone call with US President Trump, discussing tariffs, diplomacy, security, and the economy. The conversation, their second this month, aimed to deepen mutual understanding ahead of upcoming US-Japan tariff negotiations. Ishiba emphasized the goal of creating jobs through investment and expressed that both leaders gained a better grasp of each other's perspectives. This call sets the stage for the fourth round of tariff talks between the two nations.
Russia-North Korea Military Exchange Escalates Ukraine Conflict, Boosts Missile Capabilities
Russia and North Korea have engaged in a significant military exchange, with North Korea supplying massive amounts of ammunition and munitions to support Russia's war in Ukraine. In return, Russia has provided data to improve North Korea's ballistic missile guidance systems. This collaboration has reportedly increased Russian missile attacks on Ukrainian cities and infrastructure.
White House Slams "Judicial Overreach" in Tariff Ruling, Seeks Supreme Court Intervention
The White House strongly criticized a recent court ruling blocking President Trump's tariffs, calling it judicial overreach. Press Secretary Leavitt emphasized that courts should not interfere with tariff decisions. The administration filed an emergency motion for a stay and is considering a Supreme Court appeal to overturn the decision.
U.S. to Aggressively Revoke Chinese Student Visas, Rubio Announces
The Trump administration plans to aggressively revoke visas of Chinese students in the U.S., as announced by Secretary of State Marco Rubio. This new policy, aimed at putting "America First," marks a significant shift in U.S.-China relations.
China-US Relations: Ongoing Dialogue Amid Semiconductor Disputes and Visa Concerns
Since the Geneva talks, China and the US have maintained communications through various channels. China's Commerce Ministry reports focusing on US export control abuse in semiconductors. Meanwhile, China's Foreign Ministry strongly opposes US plans to revoke Chinese student visas, viewing it as ideologically motivated. They urge the US to align with China's approach and take more constructive actions. Despite tensions, both nations continue to engage in multilateral and bilateral discussions at various levels.
US Corporate Profits Nosedive $118 Billion in Q1, Foreshadowing Tariff Impact
US corporate profits plummeted by $118 billion in Q1 2023, marking the largest decline since 2020. This sharp decrease occurred before the implementation of Trump's tariffs, suggesting companies were already facing economic pressures. The slump coincided with a 0.2% contraction in gross domestic output, contrasting Q4's 3.8% growth.
Second Federal Court Strikes Down Trump's Controversial Tariffs
A second federal court has ruled against President Trump's "Liberation Day" tariffs, declaring them unlawful. This decision adds to the legal challenges facing the administration's trade policies.
Trump Tariffs Wreak $34 Billion Havoc on Global Corporations, Reshaping Business Landscape
Global giants like Apple, Ford, and Walmart have slashed forecasts due to Trump's tariffs, costing firms over $34 billion. The trade war has disrupted supply chains, fueled inflation, and created widespread uncertainty, forcing companies to rethink strategies and halt guidance amid economic chaos.
US Warns of Withdrawal from Ukraine Talks, Urges Russia to Accept 'Best Possible' Deal
The US has issued a stark warning at the UN Security Council, threatening to withdraw from Ukraine peace negotiations if Russia prolongs the war. They emphasized that the current deal is Russia's best possible outcome and urged President Putin to accept the terms. The US also hinted at potential additional sanctions if the conflict continues, putting pressure on Russia to end hostilities.
Earnings Events
Nvidia Earnings Boost Tech Stocks, but Trade Policy Uncertainty Tempers Overall Market Gains
The stock market experienced mixed performance as investors grappled with conflicting signals. Nvidia's impressive earnings report boosted tech stocks, with the company's shares jumping 5% to their highest level since February. The S&P 500 and Nasdaq rose on this news, while the Dow struggled. However, overall market sentiment was muted due to confusion over trade policy, particularly regarding tariffs. Foreign stocks are gaining attention, with some analysts predicting they will outperform U.S. markets. Gold is also seeing increased interest as investors seek alternatives. Options activity in various companies, including Ulta Beauty, Enphase Energy, and PDD Holdings, indicates shifting market sentiment. The "Magnificent Seven" tech stocks continue to drive market performance, but questions are arising about the long-term appeal of U.S. markets. Investors are navigating volatile conditions, with some turning to defensive plays like Altria. As the market digests these various factors, analysts are closely watching for potential shifts in sector leadership and international market dynamics.
Dell's Q1 Revenue Beats, EPS Misses; Bullish Q2 Outlook Driven by AI Server Demand
Dell Technologies reported mixed Q1 results, with revenue beating estimates at $23.38 billion but EPS falling short at $1.55. The company's Q2 outlook surpassed expectations, projecting revenue of $28.5-29.5 billion. Dell highlighted $12.1 billion in AI server orders, indicating strong demand in this sector.
Nvidia's Earnings Triumph Sparks Market Rally, but Sustainability Questioned
Nvidia's stock surges following impressive earnings, boosting the S&P 500. Analysts praise the AI giant's performance, but some warn the market optimism may be short-lived despite positive results and tariff developments.
Canadian Banks Report Mixed Q2 Earnings; RBC Raises Dividend Despite EPS Miss
Canadian banks Royal Bank of Canada and CIBC reported mixed Q2 2025 earnings, with RBC missing EPS estimates but raising dividends. BRP and Caleres also released earnings, with BRP beating expectations while Caleres missed and suspended guidance.
Kohl's Shares Surge on Better-Than-Expected Q1 Performance and Maintained Outlook
Kohl's stock rises after Q1 results beat expectations, with a narrower loss than anticipated. The retailer reaffirmed full-year guidance despite recent leadership changes and soft sales, as cost-cutting efforts show positive impact.
Marvell Technology Beats Q1 Estimates, Stock Dips Despite Strong Q2 Outlook
Marvell Technology reported Q1 revenue of $1.90B, beating estimates of $1.88B, with adjusted EPS of $0.62. The company forecasts Q2 revenue of $2.0B and EPS of $0.67 ±$0.05. Despite surpassing expectations, Marvell's stock dropped in after-hours trading. The company projects Q2 gross margin of 50-51% and a diluted share count of ~874M.
Hormel Foods Q2 Earnings Meet Expectations, Adjusts Full-Year Guidance
Hormel Foods reported Q2 earnings with EPS of $0.35, meeting estimates. Revenue slightly missed at $2.9B. The company adjusted its full-year outlook, narrowing EPS range and raising sales expectations to $12-12.2B.
Oil And Gas Events
Surprise Drop in US Oil Inventories Sparks Bullish Sentiment in Crude Market
The latest EIA report reveals a surprising drop in US crude oil inventories, defying expectations. Crude stocks fell by 2.795 million barrels, contrary to forecasts of an increase. Gasoline and distillate inventories also declined, with gasoline dropping 2.441 million barrels and distillates decreasing by 724,000 barrels. Cushing crude oil inventories saw a slight increase of 75,000 barrels. These unexpected inventory drawdowns are considered bullish for crude prices. Refinery utilization rates decreased by 0.5% week-over-week, while crude oil production slightly increased to 13.401 million barrels per day. The report's overall bearish tone suggests potential upward pressure on oil prices.
Kazakhstan Aims to Boost Oil Output, Resists Production Cuts
Kazakhstan's Energy Minister announces plans to pump at least 96 million tons of oil this year, with hopes to increase output further. The minister states that oil prices above $70-$75 per barrel are suitable for all countries and emphasizes that Kazakhstan cannot cut oil production.
Oil Sector Buzzes with Acquisitions, Price Shifts, and Long-Term Strategies Amid Court Ruling Impact
A flurry of activity in the oil and energy sector has caught investors' attention. BP's Castrol unit is attracting interest from potential buyers, while Ecopetrol plans to continue gas drilling despite Shell's exit. WTI crude oil prices show bullish trends, and OPEC+ faces long-term challenges. Energy stocks remain captive, but Goldman Sachs recommends gold and oil as inflation hedges. A court ruling against Trump-era tariffs has pushed crude oil prices higher, impacting the commodities market.
Oil Prices Expected to Stay Moderate Amid Mixed Signals from Producers
IEA's Birol predicts moderate oil prices due to weak demand in China. OPEC+ maintains production levels, while Kazakhstan refuses to cut output, signaling potential market shifts.
Oil Prices Dip: U.S. Crude and Brent Futures Settle Lower
U.S. crude oil futures settled at $60.94 per barrel, down 1.46%. Brent crude futures settled at $64.15 per barrel, down 1.16%.
OPEC+ Supply Increase Looms as UAE Crude Trading Hits Record Highs
OPEC+ is poised to increase oil supply, causing concern among oil bulls. Trading of UAE's Murban crude has hit record highs, with open interest reaching 81,000 lots. Oil prices rose over 1% following a US court's block on Trump tariffs. The market is reacting to supply risks and potential OPEC+ output hikes, which may be less substantial than advertised. This influx of supply comes at a time when the global crude market appears fragile.
Exxon Confident in Guyana Dispute, Awaits Arbitration Ruling Against Chevron-Hess Deal
Exxon awaits an arbitration ruling in its dispute with Chevron and Hess over Guyana oil fields. The company expects a decision within 2-3 months and remains confident of a favorable outcome. Exxon assures "business as usual" in Guyana operations regardless of the result. The oil industry watches closely as this high-stakes case unfolds.
Williams Seeks Revival of New York Gas Pipeline Amid Shifting Energy Landscape
Williams is reviving plans for natural gas pipelines to New York City, filing a petition with federal regulators. This move comes as Egypt considers increasing LNG imports, highlighting global energy dynamics.
Shell Expands Presence in Nigerian Oil with $510M Bonga Field Acquisition
Shell acquires TotalEnergies' stake in Nigeria's Bonga oil field for $510 million, increasing its interest in the deep-water project. TotalEnergies divests non-operated assets.
Australia Approves Gas Projects Amid Global Energy Shifts and OPEC+ Uncertainty
Australia's new government is set to approve more gas developments, including Woodside's NWS LNG extension, despite looming local supply shortfalls. Meanwhile, BP's Castrol unit attracts interest from Apollo and Reliance. Oil markets remain bullish, with WTI prices up at European opening. OPEC+ faces challenges in predicting its 2027 membership and baselines. Energy stocks struggle, but some may break out soon.
Kazakhstan Stands Firm: No Oil Production Cuts Planned, OPEC Notified
Kazakhstan's deputy energy minister informed OPEC that the country has no intention of reducing its oil production, according to Interfax news agency.
US Natural Gas Storage Exceeds Expectations, Shows 101B Cubic Feet Increase
US natural gas storage increased by 101 billion cubic feet, surpassing forecasts of 98-99 billion. This figure is lower than the previous week's 120 billion increase.
Fixed Income And Interest Rates Events
Fed's Goolsbee: Tariff Avoidance Could Pave Way for Interest Rate Cuts
Fed's Goolsbee suggests that avoiding tariffs through a deal or other means could lead to a scenario where interest rates can be reduced, potentially impacting financial markets and precious metals.
Bond Market Resilient: Strong Demand in 7-Year US Treasury Auction Amid Global Stock Volatility
The bond market is experiencing shifts, with US Treasury yields dropping about 5 basis points despite global stocks relinquishing gains. A recent 7-year US note auction saw strong demand, with a high yield of 4.194% and a bid-to-cover ratio of 2.69. Indirect bidders took a significant 71.52% share, while direct bidders accounted for 23.64%. The auction results suggest continued investor interest in government debt amid economic uncertainties.
Japan's FinMin Kato: G7 Progress on Tariffs, Forex Rates; Vigilant on Bond Markets
Japan's Finance Minister Kato reports positive signs in G7 tariff talks and agreement on market-set forex rates. He emphasizes monitoring financial markets, particularly super-long bond yields, and pledges thorough communication with market players. Kato also notes productive discussions with U.S. Treasury Secretary Bessent.
Real Estate Events
U.S. Pending Home Sales Plunge 6.3% in April, Signaling Housing Market Struggles Amid Rising Mortgage Rates
The U.S. housing market faced a significant setback in April as pending home sales plummeted 6.3% month-over-month, far exceeding the forecasted 1% decline. This sharp drop, the largest since September 2022, brought the Pending Home Sales Index to 71.3, nearing record lows. The year-over-year comparison showed a 2.5% decrease, indicating a disappointing spring selling season. Experts attribute this decline to soaring mortgage rates, which hit 6.81% for 30-year loans, sidelining potential buyers. The unexpected slump highlights the ongoing weakness in the housing market and suggests that high borrowing costs continue to pose significant challenges for homebuyers.
UK Housing Market Forecast: Price Increases and Construction Shortfall
UK home prices expected to rise 3.5% in 2025 and 4% in 2026, with London prices increasing 3% in 2025. Government likely to miss its five-year housing construction target.
Environment Events
Hamas Mulls, Israel Accepts: New Gaza Ceasefire Proposal on the Table
Hamas received and is studying Witkoff's new Gaza ceasefire proposal. Meanwhile, Israeli PM Netanyahu has accepted the US envoy's plan, according to Israeli media reports.
Metals Events
Canadian PM Carney: U.S. Tariffs on Steel and Autos Persist Despite Favorable Court Ruling
Canadian PM Carney welcomes a U.S. court ruling on tariffs but emphasizes that Canada continues to face unjustified U.S. tariffs on steel and automobiles, highlighting ongoing trade tensions between the two nations.
Currencies Events
China Injects 266 Billion Yuan, Yuan Opens Lower as PBOC Sets Mid-Point at 7.1907
China's central bank injects 266 billion yuan through 7-day reverse repos at 1.40%, maintaining the previous rate. The yuan opens at 7.2057 per dollar, with the PBOC setting the mid-point at 7.1907. Estimates for yuan fixing range from 7.2030 to 7.2093.
US Dollar Gains Ground, Pressuring Major Currencies Worldwide
Global currency markets show volatility as the US Dollar strengthens. The Rupee, Euro, Won, New Zealand Dollar, Yen, and Pound all face pressure against the USD, influenced by economic data and risk sentiment.
Healthcare Events
Biotech Rollercoaster: Promising Advances and Setbacks Shake Up Pharmaceutical Landscape
In a flurry of biotech news, Viking Therapeutics faces competition in obesity treatments, while ORIC Pharmaceuticals shows promise in prostate cancer therapy. Keros Therapeutics halts PAH drug development and cuts workforce. Merck and Daiichi Sankyo withdraw their lung cancer drug approval request. Taysha sees a stock surge on positive trial design, while Intellia Therapeutics updates on Phase 3 study progress, causing a stock drop.
Corporate Actions Events
Omada Health Seeks $1.1B Valuation in Nasdaq IPO, Offering 7.9M Shares
Digital health company Omada Health plans to raise up to $158 million in its Nasdaq IPO, offering 7.9 million shares at $18-$20 each. The company targets a $1.1 billion valuation, signaling a cautious revival in U.S. listings amid market volatility.
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