Pre-market Insights | Trump Arrives in Beijing; US April PPI Annual Rate Hits 6%, the Highest in Over Three Years; Nebius, a Cloud Computing Company, Surges Over 12% Pre-market as Q1 Revenue Exceeds Expectations
The latest monthly report from the International Energy Agency (IEA) shows that global oil inventories are declining at a record pace due to disruptions in Middle Eastern supplies caused by the Iran war. The decline is expected to continue in the coming months, putting further upward pressure on oil prices.
Express News | The US Senate voted to approve Kevin Warsh as the new Federal Reserve Chair.
Express News | US April PPI YoY +6.0% Vs +4.9% Forecast, Prior +4.3%
Morgan Stanley's Wilson: US stocks do not need the Federal Reserve to cut interest rates; S&P 500 target raised to 8000 points.
Wilson raised his year-end 2026 target for the S&P 500 Index from 7800 points to 8000 points and set a mid-2027 target of 8300 points. He believes the market has undergone substantial adjustments in valuation and breadth, with major risks adequately priced in. Even if the Federal Reserve remains on hold, strong earnings growth alone can drive stock returns. Additionally, structural support for US equities is being provided by the Trump administration's 'rebalancing' policies.
Express News | US President Trump will arrive in Beijing.
Why the Nasdaq 100's AI-driven Stock Boom Still Looks Tame Compared to the Dot-com Era