📅 Economic Releases
| Time (ET) | Event | Impact |
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| 8:30 AM | Unemployment Claims | Medium |
| 9:45 AM | Flash Manufacturing PMI | Medium |
| 9:45 AM | Flash Services PMI | Medium |
📊 Earnings Today
📈 Premarket Gainers & Losers
🎯 Gamma Flip Point — $SPX (S&P 500 Index)
$SPX gamma flip point is 7093.86 |
🔥 Hot Market News
| European car sales grow in March as EV rise offsets combustion engine decline New car sales in Europe rose by 11.1% in March, driven by a 42% jump in battery electric vehicle registrations. Tesla achieved an 84.3% year-on-year increase, surpassing Chinese competitor BYD, while electrified vehicles accounted for nearly 70% of all registrations.
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| Iran Seizes Cargo Ships in Strait of Hormuz Amid Extended Ceasefire Negotiations Iran's navy has seized two cargo ships, the Epaminondas and the MSC-Francesca, in the Strait of Hormuz after reports of them being fired upon by the Islamic Revolutionary Guard Corps (IRGC) for allegedly violating maritime security. The incident occurred as an extended ceasefire between the US and Iran is in place, with negotiations ongoing, but tensions remain high due to the US naval blockade of Iranian ports.
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| Nvidia Supplier: SK Hynix Sets Record as Quarterly Profit Jumps Five-Fold, Says AI Chip Demand Exceeds Capacity South Korea's SK Hynix on Thursday set a record for quarterly profit with a five-fold jump in earnings and forecast AI chip demand would exceed manufacturing capacity, allaying concern about slowing AI spending by big tech firms.
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| Tesla Exceeds Earnings Expectations as It Shifts Focus to AI and Robotics Tesla reported first-quarter revenue of $22.39 billion and earnings per share of $0.41, surpassing FactSet estimates. Despite underperforming in vehicle deliveries, the company plans increased capital expenditures for AI and robotics, with shares rising 4% after the announcement.
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| IBM Posts Software Sales That Fail to Shake AI Concerns IBM's reported software sales figures did not alleviate investor concerns regarding its performance and strategy in the artificial intelligence sector.
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| South Korea Economic Growth Roared Past Estimates in Q1, Thanks to Chips South Korea's economic growth in the first quarter significantly exceeded expectations, driven primarily by a boom in the semiconductor industry.
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| Xpeng Plans Large-Scale Production of Flying Cars and Humanoid Robots, Eyes Global Expansion Xpeng aims to initiate large-scale production of its flying cars in 2025 and humanoid robots by late 2026, with significant collaboration potential with Volkswagen. Xpeng has already received over 7,000 flying car orders, primarily in China, and is expanding its global footprint, targeting over 50% revenue from international sales in the next decade.
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| Micron Pushes US Congress to Crack Down on Chip Tool Sales to Chinese Rivals, Sources Say Micron is urging the US Congress to impose stricter regulations on the sale of semiconductor manufacturing equipment to Chinese companies, aiming to limit China's access to advanced chip-making technologies.
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💱 Forex & Commodities
| Analysis: BOJ's Hawkish Hints Keep Rate Hike on the Cards The Bank of Japan has signaled hawkish tendencies, suggesting that a future interest rate hike is possible to address economic shifts and inflation concerns.
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| Oil Climbs as US-Iran Tensions Halt Strait of Hormuz Traffic Oil prices rose for a fourth consecutive day as tensions between the US and Iran escalated, leading to the near-closure of the Strait of Hormuz and a US naval blockade, while negotiations for a new peace proposal remain stalled. Amidst a ceasefire that holds barely in practice, the situation has disrupted energy markets, with Iranian gunboats firing on commercial ships and the US seizing vessels, driving up oil prices and impacting global supply chains.
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| Dollar Use in Global Trade Rose to High Amid War, SWIFT Says The use of the US dollar in global trade transactions has reached a new high, driven by ongoing geopolitical conflicts, according to data from the international financial messaging system, SWIFT.
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| UK CPI Accelerates, Energy Shock Building Summer Pipeline Pressures In March, the UK headline CPI rose 3.3% annually, aligning with expectations but fueled by a significant rise in fuel prices and airfares, while factory gate prices surged due to a sharp increase in crude oil inputs. Economists are concerned about potential inflation peaking above 4% by late summer, while the BoE is expected to remain cautious in its rate-setting, despite persistent strength in services inflation complicating policy decisions.
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🪙 Crypto News
| FTX Sold Cursor Stake for $200K. SpaceX Now Has a $60 Billion Option to Buy It FTX's bankruptcy estate sold Alameda Research's early equity stake in AI code editor startup Anysphere for $200,000 in 2023, a stake now estimated to be worth $500 million. SpaceX announced a strategic partnership with Anysphere with an option to acquire the company for $60 billion, highlighting the significant missed opportunity for FTX creditors.
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| Robinhood Ventures Invests $75 Million in OpenAI, Offering Retail Traders Exposure Robinhood Ventures Fund I has acquired approximately $75 million of OpenAI common stock, allowing retail investors to access the valuation of the AI company through a publicly-traded, closed-end fund. This significant investment aims to democratize access to private markets, bypassing traditional accreditation requirements and investment minimums, amidst increasing retail interest in AI technologies.
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| DoorDash to Pay Delivery Workers in Stablecoins via Stripe's Tempo Blockchain DoorDash will implement Tempo's blockchain technology for paying delivery workers and merchants with stablecoins across more than 40 countries, aiming to reduce payment settlement times and fees associated with foreign currency exchanges. This move comes as DoorDash's shares fall 2%, despite having risen 19% over the past month.
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🛠️ Free Market Tools
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