📅 Economic Releases
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| 8:00 AM | U.S Holiday | Holiday |
📊 Earnings Today
📈 Premarket Gainers & Losers
🎯 Gamma Flip Point — $SPX (S&P 500 Index)
$SPX gamma flip point is 7468.03 |
🔥 Hot Market News
| Ships Get in Position for Oil to Start Flowing From the Gulf Ships are strategically positioning themselves in readiness to transport oil as the flow from the Gulf region is set to commence, indicating a potential increase in oil supply from this area.
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| Strategists Warn Yields to Stay High Even If Iran War Ends For all the hand-wringing over war-related inflation fears, there are signs that other drivers are having as much a bearing on longer-term borrowing costs.
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| Federal Reserve faces market bets for rate hike by December under Warsh Kevin Warsh was sworn in as Federal Reserve Chair on May 22, 2026. Within hours, the bond market had already placed its bet on what comes next: higher rates, not lower ones. Interest-rate swaps now indicate more than 50% odds of a 25 basis point rate hike by December 2026. The probability of at least one hike before year-end sits above 70%.
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| Huawei touts new chipmaking technology to sidestep US restrictions Huawei has announced the development of new chipmaking technology as a strategy to bypass current US trade restrictions, which have limited its access to advanced semiconductors.
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| Trump says there is no rush for Iran deal, US blockade stays he United States and Iran could strike a deal to end the Middle East war as early as Sunday, Washington’s top diplomat Marco Rubio said, while Tehran insisted the agreement would do nothing to limit its nuclear program.
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| Xi Attacked Japan's Rearmament During Trump Summit, FT Says Chinese leader Xi Jinping criticized Japanese Prime Minister Sanae Takaichi for her defense push during his summit with US President Donald Trump in Beijing, the Financial Times reported, citing people familiar with the meeting.
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| China lifts African trade tariffs, seeks to outmaneuver Trump China has eliminated tariffs on all goods from 53 of 54 African countries as of May 1, aiming to enhance business and influence in Africa, contrasting the US tariff policy under President Trump. This move may strengthen supply chains for critical minerals and open opportunities for infrastructure and logistics partnerships with African nations.
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| Rising Oil Prices and End of Trump Tax Rebates Threaten US Consumer Spending As Trump-era tax rebates averaging $3,500 per person run out and oil prices soar due to the conflict in Iran, economic experts and retailers warn of impending financial strain on American consumers, potentially slowing the U.S. economy's growth as early as this summer. Gasoline prices have surged by 50%, increasing the cost of essential goods and reducing consumer spending power.
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💱 Forex & Commodities
| Dollar Slips in Asian Trading as Oil Prices Drop Below $100 on Hopes of Strait of Hormuz Deal The U.S. dollar weakened against major currencies, including a 0.2% drop against the yen, as hopes for a deal to reopen the Strait of Hormuz pushed oil prices below $100 per barrel. Despite the optimism, the Trump administration downplayed the chances of finalizing an agreement with Iran soon, leading to skepticism among traders about the durability of any deal.
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| FX futures positioning: Dollar rebound stalls as Yen bears return - COT report The recent COT report indicates that the U.S. dollar's rebound has stalled while bearish positions against the yen have re-emerged in the FX futures market.
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| Oil prices fall 6 per cent on optimism of US-Iran peace deal Oil prices dropped to two-week lows as hopes rose for a US-Iran peace deal that could potentially reopen the Strait of Hormuz, though disagreements persist over key issues. Brent crude fell by 5.7% to $97.69 a barrel, and US West Texas Intermediate fell 6% to $90.85 a barrel, following comments from US President Trump about progress in negotiations.
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| Supertanker Carrying Iraqi Crude to China Crosses US Blockade Into Arabian Sea A supertanker named Eagle Verona, carrying about 2 million barrels of Iraqi crude to China, has crossed into the Arabian Sea from the Gulf of Oman amidst ongoing US-Iran peace talks to end the conflict and reopen the Strait of Hormuz. This development follows Iran's closure of the Strait, which had prevented many ships from leaving the region, and comes as crude prices fall on the anticipation of a potential deal.
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| Qatar quietly exports LNG destined for key buyers through Hormuz Qatar has been discreetly increasing its liquefied natural gas (LNG) exports through the Strait of Hormuz, ensuring the delivery of energy supplies to important international markets despite regional tensions.
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🪙 Crypto News
| How Nasdaq's New Bitcoin Options Quietly Ended Deribit's 85% Reign The Securities and Exchange Commission has cleared Nasdaq to list cash-settled Bitcoin (BTC) index options, ending years of regulatory delay around onshore crypto derivatives.
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| Crypto Rails Becoming Default Payment Layer for AI Agents, Says Keyrock Report Keyrock's report highlights that AI agents executed over 176 million blockchain transactions worth $73 million in the past year, with 98.6% utilizing USDC for transactions. Companies like Coinbase, Stripe, Google, and Visa are developing infrastructure for low-value, high-frequency machine-to-machine payments.
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| IREN Co-Founder Dan Roberts Identifies Infrastructure as AI's Key Bottleneck Dan Roberts, co-founder of IREN, argues that the main hurdle for advancing artificial intelligence is infrastructure rather than chip availability, pointing out that while chip technology is evolving, the necessary supporting infrastructure is not keeping pace.
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