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Wire

Market Chatter: Delta CEO Says Amazon Offers Better Pricing, Tech Than Starlink

Delta Air Lines (DAL) Chief Executive Ed Bastian said his airline picked Amazon.com (AMZN) for its in-flight Wi-Fi because it's cheaper than SpaceX's Starlink and also has a suite of streaming content, Bloomberg reported Monday, citing an interview with Bastian.Bastian's comments come a week after Elon Musk criticized the airline's choice of Amazon over Starlink.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $70.77, Change: $+0.54, Percent Change: +0.77%

$AMZN$DAL$TSLA
Wire

Delta CEO Says Amazon Offers Better Pricing, Tech Than Starlink, Bloomberg Reports

Delta CEO Says Amazon Offers Better Pricing, Tech Than Starlink, Bloomberg Reports

$AMZN$DAL$TSLA
Asia Markets

New Drone Incidents in Middle East Keep Tensions High, Nudge US Equity Futures Pre-Bell Lower

US equity futures were lower pre-bell Monday as tensions remain high in the Middle East after the UAE and Saudi Arabia reported fresh drone incidents on Sunday, raising traders' concerns around a return to hostilities in the region.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% lower.The UAE defense ministry said that a drone attack from the "western border" had caused a fire at a nuclear plant, while Saudi Arabia reported intercepting three drones that entered from the airspace of Iraq.President Donald Trump in a post on Truth Social urged Iran to "get moving" with regard to ending the conflict. "For Iran, the Clock is Ticking, and they better get moving, FAST, or there won't be anything left of them," he said.Among the companies reporting financial results this week are Home Depot (HD), Nvidia (NVDA), Analog Devices (ADI), and Walmart (WMT).Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $108.66 per barrel and US West Texas Intermediate crude 0.8% lower at $100.25 per barrel.The May US housing market index, slated for 10 am ET, is seen coming in at 34, unchanged from the prior month, according to estimates compiled by Bloomberg.Cheryl Venable, interim president of the Federal Reserve Bank of Atlanta, is slated to speak on Monday.In other world markets, Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng ended 1.1% lower, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was up 0.5%, and Germany's DAX index was 0.8% higher in Europe's early afternoon session.In equities, Dominion Energy (D) shares jumped 15% after the company and NextEra Energy (NEE) said they agreed to combine in an all-stock deal. ServiceNow (NOW) stock was up 5.1% after the company and Experian said they launched a multiyear partnership on autonomous AI agents across various platforms. Baidu (BIDU) shares were up 4.2% after the company posted Q1 non-GAAP earnings and revenue that surpassed analysts' consensus.On the losing side, Tesla (TSLA) stock was down 0.9% after the company reportedly raised prices for several Tesla Model Y variants in the US, media outlets reported Saturday. Regeneron Pharmaceuticals (REGN) shares were 12% lower after the company said its phase 3 skin cancer trial evaluating two dose levels of fianlimab in combination with cemiplimab failed to meet a primary endpoint. NextEra Energy stock was down 1.3% after the merger with Dominion Energy was announced.

Dow JonesNasdaq CompositeS&P 500$ADI$BIDU$D$HD$NEE$NOW$NVDA$REGN$TSLA$WMT
Insider Trading

Tesla Insider Sold Shares Worth $1,350,000, According to a Recent SEC Filing

Vaibhav Taneja, Chief Financial Officer, on May 13, 2026, sold 3,000 shares in Tesla (TSLA) for $1,350,000. Following the Form 4 filing with the SEC, Taneja has control over a total of 129,107 common shares of the company, with 18,107 shares held directly and 111,000 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1318605/000110465926062860/xslF345X05/tm2614845-1_4seq1.xml

$TSLA
Wire

Market Chatter: Elon Musk's SpaceX Speeds Up IPO, Eyes June 12 Nasdaq Debut

Elon Musk's rocket and satellite company SpaceX has accelerated its highly anticipated initial public offering, now targeting pricing as early as June 11, with Nasdaq chosen as its listing venue, Reuters reported Friday, citing people familiar with the matter.The company may make its prospectus public as early as next Wednesday, with a roadshow launch set for June 4 and a market debut expected on June 12, the media outlet added.Advancement of the IPO timeline, initially scheduled for late June, follows a faster-than-expected review of the company's filing by the US Securities and Exchange Commission.SpaceX did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $424.48, Change: $-18.82, Percent Change: -4.25%

$TSLA
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Friday Amid Oil Surge, Higher Yields, Geopolitical Uncertainty

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.9% and the actively traded Invesco QQQ Trust (QQQ) was 1.3% lower in Friday's premarket activity as mounting inflation concerns linked to Middle East tensions and stronger oil prices reduce appetite for risk assets.US stock futures were also lower, with S&P 500 Index futures down 1.1%, Dow Jones Industrial Average futures slipping 0.7%, and Nasdaq futures retreating 1.5% before the start of regular trading.The New York Federal Reserve's Empire State manufacturing index rose to 19.6 in May from 11.0 in April, compared with expectations of a decrease to a reading of 7.2 in a survey compiled by Bloomberg and the strongest reading in over four years.The industrial production data for April will be released at 9:15 am ET.In premarket activity, bitcoin was down by 1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1% lower, Ether ETF (EETH) retreated by 1.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) lost 0.03%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.6%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was inactive.Babcock & Wilcox Enterprises (BW) stock was down more than 10% before the opening bell after the company said it priced a public offering of roughly 10.8 million common shares at $18.50 apiece, subject to customary closing conditions.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.7%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.9% higher.HSBC (HSBC) shares were down more than 3% pre-bell after the Financial Times reported the bank has yet to deploy the $4 billion it previously committed to its private credit strategy, with no current timeline for the planned investment.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 1%. The VanEck Retail ETF (RTH) gained 1.5%, while the State Street SPDR S&P Retail ETF (XRT) was down 0.7%.Tesla (TSLA) shares retreated more than 2% pre-bell after Reuters reported that the company came under pressure from an Australian judge, who questioned whether the automaker was taking the discovery process seriously in a class action over alleged vehicle defects and misleading claims.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.8%, and the iShares US Technology ETF (IYW) was 1.8% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) fell by 2.7%, while the iShares Semiconductor ETF (SOXX) declined by 3.1%.Taiwan Semiconductor Manufacturing (TSM) shares declined more than 2% in premarket activity after the company said it plans to reduce its stake in Vanguard International Semiconductor to 19% from 27.1% by selling 152 million shares.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.1%, the Vanguard Health Care Index Fund (VHT) was down 0.3%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.2% lowerAlumis (ALMS) stock was down more than 1% premarket after the company reported a Q1 net loss and lower revenue.EnergyThe iShares US Energy ETF (IYE) gained by 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.5%.BP (BP) shares retreated by 0.9% pre-bell. Reuters reported that the company is contemplating selling certain natural gas assets in Egypt.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 3.4% to $104.62 per barrel on the New York Mercantile Exchange. Natural gas was up 1.7% at $2.94 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 2%, while the United States Natural Gas Fund (UNG) was 1.5% higher.Gold futures for May retreated by 2.8% to $4,556.20 an ounce on the Comex. Silver futures fell by 7.9% to $78.62 an ounce. SPDR Gold Shares (GLD) was 2.1% lower, and the iShares Silver Trust (SLV) declined by 5.8%.

Dow JonesNasdaq CompositeS&P 500$ALMS$BETH$BITO$BPOP$BW$EEM$EETH$EXI$FAS$FAZ$GLD$HSBC$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QQQ$RTH$SLV$SOXX$SPY$TSLA$TSM$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Tech Gains Lift Nasdaq, S&P 500 to New Highs
US Markets

Tech Gains Lift Nasdaq, S&P 500 to New Highs

The Nasdaq Composite and the S&P 500 hit new peaks on Thursday, buoyed again by gains in the technology sector.The Nasdaq rose 0.9% to 26,635.2, while the S&P 500 climbed 0.8% to 7,501.4 -- both logging record closing highs for the second straight day. The Dow Jones Industrial Average added 0.8% to settle at 50,063.5.Six of the 11 sectors were in the green, led by tech's 1.9% jump, while materials saw the biggest drop. The tech sector rallied yesterday too, ahead of high-stakes talks between US President Donald Trump and his Chinese counterpart, Xi Jinping.Cisco Systems (CSCO) shares rallied 13%, the biggest gainer on the S&P 500 and the Dow. Late Wednesday, Cisco's fiscal third-quarter results exceeded Wall Street's estimates, while the networking equipment maker announced a restructuring plan that involved thousands of layoffs.Cisco's expanded hyperscaler partnerships are paying dividends for the company, as evidenced by management expectations for a surge in artificial intelligence orders, Morgan Stanley said in a note e-mailed Thursday.Nvidia (NVDA) followed Cisco on the Dow, up 4.4%. IBM (IBM), Salesforce (CRM) and Microsoft (MSFT) also closed higher.About 10 Chinese companies have secured US clearance to purchase Nvidia's H200 AI chip, Reuters reported, citing unnamed sources."Despite this approval, however, H200s still have not made their way to China given the apparent reluctance of Beijing to support Chinese firms' purchase of American made accelerators," Wedbush Securities analyst Matt Bryson said in a report. "We view this week's talks between the US and China as a chance to possibly shift this dynamic."Trump arrived in China on Wednesday, along with Nvidia Chief Executive Jensen Huang and other executives of major American companies. China's Xi told Huang and CEOs of companies including Apple (AAPL) and Tesla (TSLA) that China will "open wider" to doing business, news outlets reported.Boeing (BA) is set to get an order for 200 jets from China, Fox News reported, citing Trump. The US planemaker's shares declined 4.7%, the biggest drop on the Dow.US Treasury yields were higher in Thursday late-afternoon trade, with the 10-year rate up 1.4 basis points at 4.48% and the two-year rate rising 2.1 basis points to 4.01%.West Texas Intermediate crude was last up 1% at $102.07 a barrel, while Brent rose 0.9% to $106.55.Xi and Trump agreed that the crucial Strait of Hormuz should remain open, The Wall Street Journal reported, citing a White House readout of the Trump-Xi talks."The market could be pinning too much hope on the US-China talks yielding some positive results on Iran," ING Bank said in a note. "Some hope that China could exert pressure on Iran to reach a deal with the US, to end the war and lead to a resumption of energy flows through the Strait of Hormuz."In other company news, Cerebras Systems (CBRS) surged 68% in its public market debut on Thursday, after the artificial intelligence chipmaker priced its initial public offering at well above the top end of the projected range.In economic news, US retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated.Inflation has become the "most pressing risk" to the US economy, Kansas City Fed President Jeff Schmid said Thursday."While inflation has moderated significantly from its peak, in my discussions with business leaders across the Tenth District, it is clear that it is still too high," Schmid said in prepared remarks for a conference.Gold was last down 1.1% at $4,654.70 per troy ounce, while silver tumbled 6.2% to $83.84 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$BA$CBRS$CSCO$NVDA$TSLA
Sectors

Sector Update: Consumer Stocks Advance Late Afternoon

Consumer stocks were higher late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.1%.In corporate news, Yeti (YETI) lifted its full-year earnings outlook on Thursday as the outdoor products company recorded better-than-expected fiscal Q1 results. Its shares climbed 5%.DraftKings (DKNG) faces a positive catalyst path from the FIFA World Cup driving incremental wagers during a low period over the next few months, Morgan Stanley said in a note. DraftKings shares rose nearly 1%.Tesla (TSLA) Chief Executive Elon Musk's SpaceX is facing opposition from leaders of three major US public pension systems over what they described as the company's "extreme" governance structure ahead of its planned initial public offering, Reuters reported. Tesla shares were down 0.3%.Paramount Skydance's (PSKY) acquisition of Warner Bros. Discovery (WBD) will be carefully scrutinized by European regulators, CNBC reported Thursday, citing a letter sent to Paramount Skydance Chief Executive David Ellison from a group of US and European lawmakers it viewed. Paramount shares fell 3.1%, and Warner Bros. was decreasing 0.5%.

$DKNG$PSKY$TSLA$WBD$YETI
Wire

Market Chatter: Over 50 Grok Workers Leave SpaceXAI

Over 50 engineers and researchers working on xAI's Grok models have left the company since SpaceX acquired it in February, The Information reported Thursday, citing several people with knowledge of the moves.SpaceXAI didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $444.31, Change: $-0.96, Percent Change: -0.22%

$TSLA
Wire

Over 50 Grok Workers Leave SpaceXAI, The Information Reports

Over 50 Grok Workers Leave SpaceXAI, The Information Reports

$TSLA
Equities Rise Intraday Amid Cisco-Led Tech Rally; Trump-Xi Summit in Focus
US Markets

Equities Rise Intraday Amid Cisco-Led Tech Rally; Trump-Xi Summit in Focus

US benchmark equity indexes were higher intraday amid a post-earnings rally in Cisco Systems (CSCO), while markets tracked updates of a high-stakes meeting between President Donald Trump and his Chinese counterpart, Xi Jinping.The Nasdaq Composite was up 0.8% at 26,614 after midday Thursday, while the S&P 500 rose 0.7% to 7,496.6. Both indexes hit fresh record highs in the previous session. The Dow Jones Industrial Average was up 0.7% at 50,054.1 intraday Thursday.Most sectors were in the green, led by technology's 1.6% jump, while materials saw the biggest drop.Cisco shares were up nearly 13%, the biggest gainer on the S&P 500 and the Dow. Late Wednesday, Cisco's fiscal third-quarter results exceeded Wall Street's estimates, while the networking equipment maker announced a restructuring plan that involves thousands of layoffs.Cisco's expanded hyperscaler partnerships are paying dividends for the company, as evidenced by management expectations for a surge in artificial intelligence orders, Morgan Stanley said in a note e-mailed Thursday.Nvidia (NVDA) followed Cisco on the Dow intraday, up 3.6%. About 10 Chinese companies have secured US clearance to purchase Nvidia's H200 AI chip, Reuters reported, citing unnamed sources.Nvidia Chief Executive Jensen Huang is accompanying Trump in his China trip, along with executives of several other major US tech companies.Xi told Huang and CEOs of Apple (AAPL), Tesla (TSLA) and other companies that China will "open wider" to doing business, news outlets reported.Apple shares were down 0.2% intraday, while Tesla rose 0.3%.Boeing (BA) is set to get an order for 200 jets from China, Fox News reported, citing Trump. The US planemaker's shares fell 3.7%, the biggest drop on the Dow.US Treasury yields were mixed intraday, with the 10-year rate down 2.6 basis points at 4.45% and the two-year rate little changed at 3.99%.Xi has pledged not to provide military equipment to Iran, CNN reported, citing Trump.The two leaders agreed that the crucial Strait of Hormuz should remain a free waterway and Iran shouldn't be able to exact payments for the use of shipping lanes, The Wall Street Journal reported, citing a White House readout of the Trump-Xi talks."The market could be pinning too much hope on the US-China talks yielding some positive results on Iran," ING Bank said in a note. "Some hope that China could exert pressure on Iran to reach a deal with the US, to end the war and lead to a resumption of energy flows through the Strait of Hormuz."West Texas Intermediate crude was up 0.4% at $101.37 a barrel intraday, while Brent edged down 0.2% to $105.46.In economic news, US retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated."Surprisingly, firm underlying retail sales in April suggest another quarter of moderate consumer spending growth, though higher inflation is bound to take a toll," BMO Capital Markets said in a note. "Inflation pressures are mounting due to the Iran conflict and could take a larger toll on overall spending."Applied Materials (AMAT) is scheduled to report its latest quarterly financial results after the closing bell Thursday.Gold was down 0.4% at $4,687.30 per troy ounce, while silver fell 4.5% to $85.33 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMAT$BA$CSCO$NVDA$TSLA
Sectors

Sector Update: Consumer Stocks Rise in Afternoon Trading

Consumer stocks were higher Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.4%.In corporate news, Yeti (YETI) lifted its full-year earnings outlook on Thursday as the outdoor products company recorded better-than-expected fiscal Q1 results. Its shares climbed past 6%.Tesla (TSLA) Chief Executive Elon Musk's SpaceX is facing opposition from leaders of three major US public pension systems over what they described as the company's "extreme" governance structure ahead of its planned initial public offering, Reuters reported. Tesla shares were up 0.3%.Paramount Skydance's (PSKY) acquisition of Warner Bros. Discovery (WBD) will be carefully scrutinized by European regulators, CNBC reported Thursday, citing a letter sent to Paramount Skydance Chief Executive David Ellison from a group of US and European lawmakers it viewed. Paramount shares fell 1.5%, and Warner Bros. was down 0.4%.

$PSKY$TSLA$WBD$YETI
Sectors

Sector Update: Tech Stocks Mixed Thursday Afternoon

Tech stocks were mixed Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.1% and the State Street SPDR S&P Semiconductor ETF (XSD) shedding 0.6%.The Philadelphia Semiconductor index increased 0.1%.In corporate news, Cisco (CSCO) shares jumped 12% after it reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised its fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.Microsoft-backed (MSFT) OpenAI is preparing possible legal action against Apple (AAPL) as the partnership between the two companies has become strained, Bloomberg reported. Apple shares were down 0.3%, and Microsoft was rising 0.8%.Chinese President Xi Jinping told the chief executives of Apple, Tesla (TSLA), Nvidia (NVDA) and other large companies that China will "open wider" to doing business, CNBC reported Thursday, citing a report from state-backed newspaper Xinhua. Tesla shares were fractionally higher, and Nvidia gained 3.7%.

$AAPL$CSCO$MSFT$NVDA$TSLA
Wire

Top Midday Stories: Cisco Shares Soar as Guidance Tops Consensus; Alibaba, JD Reportedly Cleared to Buy Nvidia H200 AI Chips

All three major US stock indexes were up in late-morning trading Thursday, as investors monitor news emanating from President Donald Trump's meeting with Chinese President Xi Jinping in Beijing.In company news, Cisco Systems (CSCO) reported fiscal Q3 adjusted earnings late Wednesday of $1.06 per diluted share, up from $0.96 a year earlier and above the FactSet consensus analyst estimate of $1.03. Fiscal Q3 revenue was $15.8 billion, up from $14.1 billion a year ago and above the FactSet consensus of $15.6 billion. For fiscal Q4, Cisco said it expects Q4 adjusted EPS of $1.16 to $1.18 on revenue of $16.7 billion to $16.9 billion. Analysts polled by FactSet expect $1.08 and $15.8 billion, respectively. Cisco shares were up 15.0% around midday.Alibaba (BABA) and JD.com (JD) are among the roughly 10 Chinese companies that have secured US clearance to buy Nvidia's (NVDA) H200 artificial intelligence chips, though no deliveries have been made yet, Reuters reported Thursday, citing three people familiar with the matter. Alibaba and JD shares were down 1.9% and 2.1%, respectively. Nvidia shares were up 4.6%.Chinese President Xi Jinping told the chief executives of Apple (AAPL), Tesla (TSLA), Nvidia and other large companies that China will "open wider" to doing business, CNBC reported Thursday, citing a report from state-backed newspaper Xinhua. Apple shares were up 0.1%, while Tesla shares were up 0.8%.Biogen (BIIB) said Thursday that a phase 2 study evaluating diranersen in patients with early Alzheimer's disease did not meet its primary endpoint evaluating dose response for change from baseline on the Clinical Dementia Rating-Sum of Boxes at Week 76. Biogen shares were down 5.0%.Price: $117.40, Change: $+15.53, Percent Change: +15.24%

$AAPL$BABA$BIIB$CSCO$JD$NVDA$TSLA
Wire

Market Chatter: Xi Tells CEOs on Trump's Trip That China Will 'Open Wider'

Chinese President Xi Jinping told the chief executives of Apple (AAPL), Tesla (TSLA), Nvidia (NVDA) and other large companies that China will "open wider" to doing business, CNBC reported Thursday, citing a report from state-backed newspaper Xinhua.Tesla CEO Elon Musk, Apple CEO Tim Cook and Nvidia CEO Jensen Huang are among the group of technology executives who joined US President Donald Trump on his trip to China, the report said.The companies didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $299.73, Change: $+0.86, Percent Change: +0.29%

$AAPL$NVDA$TSLA
Nasdaq, S&P 500 Hit Fresh Highs as Tech Stocks Rise
US Markets

Nasdaq, S&P 500 Hit Fresh Highs as Tech Stocks Rise

The Nasdaq Composite and the S&P 500 reached fresh peaks on Wednesday, buoyed by a rally in technology stocks ahead of high-stakes talks between US President Donald Trump and his Chinese counterpart, Xi Jinping.The Nasdaq rose 1.2% to 26,402.3 and the S&P 500 climbed 0.6% to 7,444.3. The Dow Jones Industrial Average slipped 0.1% to 49,693.2. Most sectors ended in the green, led by communication services, followed by tech, while utilities saw the steepest decline.Chipmaking giant Nvidia's (NVDA) shares jumped 2.3%, among the best performers on the Dow. Apple (AAPL), Amazon.com (AMZN), and Cisco Systems (CSCO) also advanced. On Semiconductor (ON) shares surged 11%, the second-biggest gainer on the S&P 500.Trump arrived in Beijing Wednesday, accompanied by Nvidia Chief Executive Jensen Huang, Apple's Tim Cook, and Tesla (TSLA) CEO Elon Musk, along with other executives. Trump is set to have talks with Xi on Thursday and Friday, CNBC reported."The trip underscores the stakes for chips, tech, and the (artificial intelligence) supply chain highlighted by Nvidia's most advanced chips, which (have) faced a series of tightening US export restrictions on China sales," Wedbush Securities said in note."We believe that this summit will prove 'constructive' as it keeps the conversation focused on reopening channels where possible rather than allowing the relationship to drift into a more permanent Cold War dynamic that would ultimately slow AI diffusion and cloud monetization on both sides," Wedbush said.US Treasury yields were little changed in Wednesday late-afternoon trade, with the 10-year and two-year rates at 4.48% and 3.99%, respectively.In economic news, US producer prices in April rose at the fastest pace in four years as broad-based increases in services and goods signaled intensifying inflation pressures, official data showed."On the heels of yesterday's disappointing (consumer price index) results, the April producer price report flags intense inflation pressure in the pipeline," BMO Capital Markets said in a note. "Look for another heated consumer inflation report in May, and not solely due to costlier gasoline, as price pressures stemming from the Iran war are bleeding into other sectors of the economy."The central bank last month held rates steady for a third straight meeting and is widely expected to do so again in June, according to the CME FedWatch tool.The US Senate confirmed Kevin Warsh's nomination as Fed chair on Wednesday. Warsh is Trump's pick for the job as the term of current central bank chief Jerome Powell is set to expire on Friday.Boston Fed President Susan Collins expects the central bank to maintain its current monetary policy stance, which she described as "slightly restrictive.""More than five years of above-target inflation has reduced my patience for 'looking through' another supply shock," Collins said in prepared remarks on Wednesday. "And while it is notin my most likely outlook, I could envision a scenario in which some policy tightening is needed to ensure that inflation returns durably to 2% in a timely manner."West Texas Intermediate crude was last down 0.9% at $101.27 a barrel, while Brent fell 1.8% to $105.85.The International Energy Agency forecast a sharper decline in global oil demand this year than previously expected as the Middle East conflict drives up energy prices."More than 10 weeks after the war in the Middle East began, mounting supply losses from the Strait of Hormuz are depleting global oil inventories at a record pace," according to the report.Separately, the Organization of the Petroleum Exporting Countries reduced its global oil demand growth outlook for 2026, but upgraded its projection for next year.Trump recently rejected Iran's counteroffer to end the war, though a fragile ceasefire between the two countries still holds.In company news, Wix.com (WIX) logged a larger-than-expected annual decline in its first-quarter earnings, while the Israeli web development platform maintained its full-year outlook. The company's US-listed shares tanked 27%.Gold was last up 0.2% at $4,694.70 per troy ounce, while silver climbed 3% to $88.18 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$CSCO$NVDA$ON$TSLA$WIX
Equities Mostly Rise Intraday Amid Tech Boost, With Trump's China Visit in Focus
Wire

Equities Mostly Rise Intraday Amid Tech Boost, With Trump's China Visit in Focus

US benchmark equity indexes were mostly higher intraday as several key technology stocks advanced, while President Donald Trump landed in China for a high-stakes state visit.The Nasdaq Composite was up 1.2% at 26,405.4 after midday Wednesday, while the S&P 500 rose 0.6% to 7,448.4. The Dow Jones Industrial Average fell 0.3% to 49,616.8. Among sectors, communication services paced the gainers, followed by tech, while utilities saw the steepest decline.Chipmaking giant Nvidia's (NVDA) shares were up 2.7%, the second-best performer on the Dow. Other major tech stocks Apple (AAPL), Amazon.com (AMZN), and Cisco Systems (CSCO) were also in the green. Cisco is scheduled to report its latest quarterly financial results after the closing bell Wednesday.On Semiconductor (ON) shares jumped 10% intraday, the second-biggest gainer on the S&P 500.Trump reportedly arrived in Beijing Wednesday for a highly anticipated meeting with his Chinese counterpart, Xi Jinping."The trip underscores the stakes for chips, tech, and the (artificial intelligence) supply chain highlighted by Nvidia's most advanced chips, which (have) faced a series of tightening US export restrictions on China sales," Wedbush Securities said in note.Nvidia Chief Executive Jensen Huang, Apple's Tim Cook, and Tesla (TSLA) CEO Elon Musk are accompanying Trump on the visit, along with other top US tech executives, according to media reports."We believe that this summit will prove 'constructive' as it keeps the conversation focused on reopening channels where possible rather than allowing the relationship to drift into a more permanent Cold War dynamic that would ultimately slow AI diffusion and cloud monetization on both sides," Wedbush said.US Treasury yields were mixed intraday, with the 10-year rate up 1.1 basis points at 4.48% and the two-year rate little changed at 4%.In economic news, US producer prices in April rose at the fastest pace in four years as broad-based increases in services and goods signaled intensifying inflation pressures, official data showed."On the heels of yesterday's disappointing (consumer price index) results, the April producer price report flags intense inflation pressure in the pipeline," BMO Capital Markets said in a note. "Look for another heated consumer inflation report in May, and not solely due to costlier gasoline, as price pressures stemming from the Iran war are bleeding into other sectors of the economy."West Texas Intermediate crude was down 0.3% at $101.84 a barrel intraday, while Brent fell 1.5% to $106.21.The International Energy Agency forecast a sharper decline in global oil demand this year than previously expected as the Middle East conflict drives up energy prices."More than 10 weeks after the war in the Middle East began, mounting supply losses from the Strait of Hormuz are depleting global oil inventories at a record pace," according to the report.Separately, the Organization of the Petroleum Exporting Countries reduced its global oil demand growth outlook for 2026, but upgraded its projection for next year.Trump recently rejected Iran's counteroffer to end the war, though a fragile ceasefire between the two countries still holds. Trump recently told reporters that "we have Iran very much under control.""That control, however, does not extend to the Strait of Hormuz, which remains effectively closed with both Iran and the US maintaining naval blockades," Saxo Bank said in a report Wednesday.In company news, Wix.com (WIX) logged a larger-than-expected annual decline in its first-quarter earnings, while the Israeli web development platform maintained its full-year outlook. The company's US-listed shares tanked nearly 26% intraday.Gold was up 0.4% at $4,705.80 per troy ounce, while silver climbed 4.8% to $89.69 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$CSCO$NVDA$ON$TSLA$WIX
Wire

UBS Raises Tesla Price Target to $364 From $352, Keeps Neutral Rating

Tesla (TSLA) has an average rating of overweight and mean price target of $400.22, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $450.82, Change: $+17.37, Percent Change: +4.01%

$TSLA
Asia Markets

US Equity Futures Mixed Pre-Bell as Nvidia Stock Rises Ahead of Crucial US-China Meeting

US equity futures were mixed pre-bell Wednesday as Nvidia (NVDA) stock rose ahead of a globally significant meeting between the US and China to discuss key economic and geopolitical issues.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.7% higher.Nvidia shares were up nearly 2% after President Donald Trump confirmed in a post on Truth Social that Nvidia Chief Executive Jensen Huang is accompanying him on his visit to Beijing, raising expectations of progress in stalled talks over Nvidia's H200 AI chip sales to China. Also mentioned in the post were Tesla (TSLA) CEO Elon Musk and Tim Cook of Apple (AAPL), among others.Traders took note of the latest round of earnings. Alibaba Group (BABA) reported lower fiscal Q4 adjusted earnings and higher revenue, while Nebius Group (NBIS) posted a swing to Q1 earnings and higher revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.2% at $107.95 per barrel and US West Texas Intermediate crude 0.2% higher at $102.42 per barrel.The US Producer Price Index rose by 1.4% in April following a 0.7% gain in March, well above the 0.5% gain expected in a survey compiled by Bloomberg as of 7:35 am ET.Federal Reserve Boston President Susan Collins, Minneapolis President Neel Kashkari, and Dallas President Lorie Logan are slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 0.8% higher, Hong Kong's Hang Seng ended 0.2% higher, and China's Shanghai Composite finished 0.7% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.8% higher in Europe's early afternoon session.In equities, chipmakers Micron Technology (MU), AMD (AMD), and Intel (INTC) shares were up 5%, 1.2%, and 2.4%, respectively, on traders' optimism regarding the meeting between Trump and Chinese President Xi Jinping. Nebius stock was up 15% after the company posted its Q1 financial results.On the losing side, American Electric Power (AEP) stock was down 3.6% after the company priced a public offering of roughly 20.5 million common shares at $127 each. Alibaba shares were down 2.4% after the company reported its fiscal Q4 financial results.

Dow JonesNasdaq CompositeS&P 500$AAPL$AEP$AMD$BABA$INTC$MU$NBIS$NVDA$TSLA
Japan

US Equity Futures Mixed as Nvidia Stock Rises Ahead of Crucial US-China Meeting

US equity futures were mixed pre-bell Wednesday as Nvidia (NVDA) stock rose ahead of a globally significant meeting between the US and China to discuss key economic and geopolitical issues.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.7% higher.Nvidia shares were up 2.3% after President Donald Trump confirmed in a post on Truth Social that Nvidia Chief Executive Jensen Huang is accompanying him on his visit to Beijing, raising expectations of progress in stalled talks over Nvidia's H200 AI chip sales to China. Also mentioned in the post were Tesla (TSLA) CEO Elon Musk and Tim Cook of Apple (AAPL), among others.Traders took note of the latest round of earnings. Alibaba Group (BABA) reported lower fiscal Q4 adjusted earnings and higher revenue, while Nebius Group (NBIS) posted a swing to Q1 earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.1% at $107.63 per barrel and US West Texas Intermediate crude 0.4% lower at $101.77 per barrel.The April Producer Price Index, scheduled for release at 8:30 am ET, is expected to show a 0.5% increase following a similar gain in the preceding month, according to estimates compiled by Bloomberg.Federal Reserve Boston President Susan Collins, Minneapolis President Neel Kashkari, and Dallas President Lorie Logan are slated to speak on Wednesday.

Dow JonesNasdaq CompositeS&P 500$AAPL$BABA$NBIS$NVDA$TSLA

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