📅 Economic Releases
| Time (ET) | Event | Impact |
|---|---|---|
| 9:48 AM | Cleveland Fed Inflation Expectations | Low |
| 10:00 AM | Existing Home Sales | Low |
📊 Earnings Today
📈 Premarket Gainers & Losers
🎯 Gamma Flip Point — $SPX (S&P 500 Index)
$SPX gamma flip point is 7395 |
🔥 Hot Market News
| China’s Factory Inflation Hits Post-Covid High After Cost Shock China's producer prices rose by 2.8% in April, the fastest pace since July 2022, driven by fallout from the Iran conflict that has disrupted energy markets and increased production costs. Despite expectations of easing, consumer inflation edged up to 1.2%, while the war-induced economic strains are likely to be a key topic in upcoming talks between US and Chinese leaders.
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| Pimco CIO Sees Risk of Fed Hiking Rates Due to Iran War, FT Says Pimco CIO Dan Ivascyn warned that the conflict in Iran and resulting energy price increases could force the Federal Reserve to delay interest-rate cuts or even raise rates, creating challenges for US inflation targets. Goldman Sachs analysts also predict potential delays in Fed rate cuts to December 2026 and March 2027 due to continued inflation pressures.
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| China's Car Sales Drop 21.6% in April Amid Rising Oil Prices, EV Exports Surge 111.8% China's passenger car sales fell 21.6% year-on-year in April, marking a seventh consecutive month of decline due to high oil prices that reduced domestic demand. Meanwhile, exports of electric and plug-in hybrid vehicles surged 111.8% as global fuel costs increased on the back of the Iran war, driving up international demand for EVs.
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| Goldman Sachs Raises South Korea's Kospi Target to 9,000 Amid AI-Driven Rally South Korea's Kospi index recently surpassed the 7,000 mark, and Goldman Sachs has increased its 12-month target for the index to 9,000, citing AI-driven demand for memory chips as a key growth factor. Despite past rapid gains, Goldman considers South Korean stocks attractive due to their relatively modest valuations and strong earnings potential in the semiconductor sector.
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| German defense technology startup, is raising $1.2 billion at a valuation of about $18 billion Helsing, a German defense technology startup, is raising $1.2 billion at a valuation of about $18 billion in a funding round led by Dragoneer Investment Group and co-led by existing investor Lightspeed Venture Partners. The fundraising is in advanced stages and has seen significant interest, being oversubscribed multiple times.
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| Federal Reserve Report Sees Limited Risks in Private Credit but Warns of Potential Reduction in Credit Availability The Federal Reserve's report indicates that while risks from private credit markets appear manageable, negative sentiment and redemptions could reduce credit availability for high-risk borrowers. Concerns have grown following significant redemption requests after a canceled merger by Blue Owl Capital, alongside fears that AI advancements may increase defaults in software companies.
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💱 Forex & Commodities
| Goldman says Yuan is 20% undervalued, boosts currency forecasts Goldman Sachs has stated that the Chinese yuan is undervalued by 20% and has subsequently revised its currency forecasts upward.
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| Yen bears retreat as intervention seen capping currency weakness Japanese authorities intervened to support the yen, leading to a significant reduction in bearish positions on the currency, with net short yen positions falling to their smallest in a month. Despite these measures, underlying market trends remain unchanged, and there is a risk of renewed bearish positioning if the yen drifts back toward ¥160 per dollar.
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| Gold falls on oil-driven inflation worries Gold prices fell as stalled U.S.-Iran peace talks led to higher oil prices and increased concerns about inflation keeping interest rates elevated. President Trump rejected Iran's response to a U.S. peace proposal, impacting gold, oil, and financial markets.
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| Pakistan negotiated with Iran for Qatari LNG shipments via Hormuz Pakistan and Iran have reached an agreement to allow Qatari LNG shipments to transit the Strait of Hormuz, with the first shipment since the war already reaching Pakistan as the country battles a severe gas shortage due to the disrupted supply routes.
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| Morgan Stanley warns prolonged Hormuz disruption could trigger sharper oil rally Morgan Stanley analysts warned that a continued closure of the Strait of Hormuz beyond June could lead to tighter global oil markets and higher crude prices, as current market buffers might not suffice. The brokerage projects oil prices rising significantly if disruptions persist, with the physical crude benchmark possibly reaching up to $150 a barrel under a bullish scenario.
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🪙 Crypto News
| BlackRock Readies Launch of Two Tokenized Money Market Funds BlackRock is preparing to launch two new money market funds that will be tokenized, leveraging blockchain technology to enhance their offerings in digital finance.
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| PayPal and Google Cloud say crypto rails are key to scaling agentic commerce Payment giant PayPal and tech firm Google Cloud say cryptocurrency-based payment infrastructure will play a central role in the future of “agentic commerce.”
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🛠️ Free Market Tools
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