Market news - Rates in the USA, England and Europe, NVDA growth, reports from US companies, Amazon, SpaceX, Dupont

• Purchasing Managers' Index (PMI) data for the eurozone, UK and US will be in focus on Thursday, with investors watching to see whether global growth dynamics show signs of turning around.

• S&P Global Market Intelligence strategists noted that after the U.S. aggregate PMI index underperformed the Eurozone and U.K. last month, May PMI figures will be eagerly awaited to "assess whether global growth momentum has shifted" away from the U.S. Europe.

• Part of the shift may get some boost from expectations that the Bank of England (BoE) and European Central Bank (ECB) are likely to cut rates next month, while an easing cycle in the United States, meanwhile, is still some way off .

• Bets on an imminent Federal Reserve rate cut were again dampened after minutes from the central bank's latest policy meeting were more hawkish than expected, breathing new life into the dollar and keeping U.S. Treasury yields high.

• Federal Aviation Administration Administrator Michael Whitaker will speak at a House hearing today.

• Online retailer Wayfair will open its first-ever retail store in Wilmette, Illinois.

• Taiwan's military mobilized its forces and said it was confident it could defend the island after China began two days of drills around Taiwan on Thursday in what it said was a response to "separatist activities."

• The market read harsh notes in the “minutes” from the last Fed meeting and went into a correction. But by the close of the market and on futures after the report, NVDA updates new historical highs.

• And weak China and a strong dollar helped non-ferrous metals and oil go into correction.

• China imposed sanctions against 12 American companies. Restrictions were introduced for the sale of weapons to Taiwan and as a response to sanctions against Chinese enterprises for cooperation with the Russian Federation - Chinese Foreign Ministry.

• Inflation in the UK has slowed below expectations. Inflation fell from 3.2% y/y in March to 2.3% in April (2.1% was expected). The residential real estate market unexpectedly fell for economists. Sales in the secondary market fell from 4.19 million to 4.14 million year on year (an increase to 4.21 million units was expected).

• On Wednesday, the US House of Representatives is expected to vote on the Financial Innovation and Technology for the 21st Century Act,
which would clarify the boundaries of oversight of the crypto industry by giving the Commodity Futures Trading Commission primary jurisdiction over the industry.

• OpenAI CEO Sam Altman announced GPT-5 at the Microsoft conference. The model is almost ready, it will be 30 times smarter than GPT-4.

• Citigroup was fined £61.6 million ($79 million) by British regulators. For disruptions after UK bank trader triggers 'flash crash' of European stocks in 2022 - Bloomberg.

• Wheat prices are rising. The exchange price for wheat has risen to its highest level since July last year.

• Nestlé is launching a line of products specifically for those taking Ozempic. A drug for diabetics that suppresses hunger.

• "Bond King" Jeffrey Gundlach still believes the US is headed for a recession.

• TikTok ban is popular with voters

• Because AI raises privacy concerns, Bloomberg survey finds

• Pfizer (PFE) said Wednesday it has begun a multiyear cost-cutting program. And it intends to save about $1.5 billion by the end of 2027.

• Amazon (AMZN) investors voted against all 14 resolutions. Which demanded that the retailer disclose more information about carbon dioxide emissions, donations from its directors and create a committee to oversee the development of artificial intelligence.

• Lululemon (LULU) shares fell nearly 7%. Hitting its lowest intraday level since March 2023, when the company announced the dismissal of chief operating officer Sun Choe.

• TGT shares fell 8% after the report. Retail sales fell 3% YoY.

• Shares of First Solar (FSLR) rose 19% yesterday. Earlier on Monday they jumped 8%.

• Analysts at UBS raised their price target to $270 from $252, reiterating a Buy rating and saying the company will emerge as a winner as artificial intelligence-driven power demand rises.

• ADI shares rose 11% yesterday. The company reported well and gave a strong outlook.

• The dollar could stay stronger longer if the Fed keeps interest rates steady. And other countries will decide to reduce borrowing costs, Goldman believes.

• SpaceX showed a video call made using regular smartphones via Starlink satellite Internet with Direct to Cell technology
. Regular smartphone. Speed ​​17 Mbps. The company plans to launch its Starlink satellite cellular service before the end of the year in the United States, allowing it to send messages, make calls and connect to the Internet.

• Goldman Sachs CEO David Solomon does NOT believe the Fed will cut rates in 2024.

• NVDA shares rise 6% after the report. Trading above $1000 for the first time. The company beat expectations (sales up 262% y/y and earnings up 461% y/y), gave strong guidance, and announced a 10-for-1 stock split (June 7), which will bring the stock back into the hands of more investors.
Nvidia CEO Jensen Huang: “The next industrial revolution has begun. Companies and countries are partnering with Nvidia to transform trillions of dollars' worth of traditional data centers into faster computing and build a new type of data center—the AI ​​factory—to produce a new commodity: artificial intelligence.”
"Nvidia's product offerings this year and next are unparalleled," Baird analyst Tristan Guerra wrote Monday, raising his price target to $1,200 from $1,050.

• SMCI shares are up 4%, confirming the correlation with NVDA.

• Dupont (DD) shares are up 4% in premarket trading. In the coming months, the company will split into three separate publicly traded companies: one will focus on industrial materials, and the other two will focus on electronics and water filtration.

• SNOW shares are up 4% in premarket trading. The company gave a strong forecast.

• ELF shares rise 2% after the report. At first they fell sharply, but after optimistic comments from management they turned positive.