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Wednesday, May 14

Noteworthy macro moves today: Gold -2.0%. Noteworthy US mega-cap moves today: UnitedHealth Group Inc (UNH) +3.4%. NVIDIA Corp (NVDA) +2.8%. Tesla Inc (TSLA) +2.8%.

Recent developments in the global markets have been significantly influenced by a breakthrough in U.S.-China trade negotiations, which resulted in substantial tariff reductions effective May 14. This agreement has boosted investor confidence and led to notable gains across major equity indices, particularly with the S&P 500 and Nasdaq reaching their highest levels since early March. The easing of trade tensions is seen as a catalyst for further market optimism.

In addition to geopolitical factors, economic data releases are shaping market sentiment. In particular, softer-than-expected inflation figures from April indicated that both headline CPI and core CPI rose less than anticipated—2.3% year-over-year compared to expectations—and this has increased speculation regarding potential interest rate cuts by the Federal Reserve later this year. As traders adjust their outlooks based on these indicators, there is growing anticipation surrounding upcoming economic reports scheduled for release soon.

Furthermore, central bank commentary continues to play an essential role amid shifting monetary policies globally; ECB officials have expressed concerns about dollar funding needs among banks due to uncertainties stemming from U.S policy directions under President Trump’s administration. These dynamics contribute not only to fluctuations within currency pairs but also influence broader risk appetite across financial assets worldwide.

Ethereum (ETH/USD) [-2.3%]
Ethereum's price has dropped significantly today, reflecting broader market dynamics following a U.S.-China trade agreement that lowered tariffs. This easing of economic tensions has not alleviated pressure on Ethereum, which faces ongoing bearish positioning among hedge funds despite recent institutional interest in its Layer 2 ecosystems. Additionally, softer-than-expected inflation data released yesterday has contributed to volatility across cryptocurrencies as traders recalibrate their expectations for global monetary policy. In the ETF space, approximately 5,410 ETH were purchased against 889 BTC sold, resulting in net inflows for ETH ETFs. Social media discussions reveal mixed sentiments, with some expressing enthusiasm for Ethereum's performance while others remain skeptical about potential rallies. Bitcoin has also declined slightly, aligning with Ethereum's price movement amid their historical correlation.

Invesco QQQ Trust Series I (QQQ) [+0.4%]
The Invesco QQQ Trust ETF advanced by 0.4% in pre-market trading on Wednesday, reflecting a positive trend following a previous increase of 1.52% to $515.59 on May 13, 2025. This uptick coincided with gains in the SPDR S&P 500 ETF Trust and the Nasdaq 100 index, which turned positive for the year. Social media discussions highlighted QQQ's performance, with users noting its green yearly candle and the overall upward movement of stocks, alongside a decline in the VIX attributed to a rally in megacap tech stocks. Key contributors to QQQ's performance included Nvidia, Advanced Micro Devices, and Tesla, with Nvidia benefitting from a partnership deal that significantly boosted its stock value. Tesla also experienced a rise following news of resumed shipments from China, easing trade tensions.

NU | -4.2% | -2.5B
Nu Holdings Ltd | Diversified Banks
Nu Holdings Ltd reported its Q1 results, revealing earnings per share of 0.11, slightly below the expected 0.12, while revenue reached 3.25 billion, surpassing the consensus estimate of 3.23 billion. Following the announcement, the stock declined approximately 5.71% in after-hours trading. The report indicated the addition of 4.3 million customers, bringing the total to 118.6 million, with a notable year-over-year revenue increase of 19%. However, profit of 606.5 million fell short of analysts' expectations of 630.5 million. Social media discussions reflected mixed reactions, highlighting strong customer growth but expressing disappointment over the EPS miss and concerns regarding a slight increase in non-performing loans. Despite a surge in net income by 74% year-over-year to 557.2 million, user sentiment appeared cautious following the earnings release.

SONY | +5.7% | +1.8B
Sony Group Corp | Consumer Electronics
Sony Group Corp reported a fiscal year 2024 earnings per share of ¥187.92, an increase from the previous year's ¥157.14. Revenue for the same period was ¥12.96 trillion, slightly down from ¥13 trillion last year. Operating income rose to ¥1.4 trillion from ¥1.2 trillion, while net income attributable to owners surged 18% to ¥1.142 trillion, up from ¥970.6 billion. The company plans to repurchase up to ¥250 billion of its shares over the next year. In its Q4 FY2024 results, Sony reported a sales decline of ¥63.7 billion but an operating income increase of ¥198.3 billion. Additionally, the company announced a proposal to reduce capital reserves at its upcoming shareholders' meeting on June 24, 2025, and plans a spin-off of its Financial Services Business, with profits or losses recorded in continuing operations.

EXEL | +4.9% | +553.0M
Exelixis Inc | Biotechnology
Exelixis Inc. reported robust first-quarter results, with adjusted net income of $179.6 million and revenue of $555.4 million, surpassing analyst expectations of $498.2 million. Following this performance, the company raised its full-year revenue guidance by $100 million, now estimating total revenues between $2.25 billion and $2.35 billion. The U.S. net product revenues from the Cabozantinib franchise reached $513.3 million. The company also announced a GAAP diluted EPS of $0.55 and a non-GAAP diluted EPS of $0.62. In a recent development, Exelixis initiated the dose-escalation stage of a first-in-human Phase 1 clinical study for XB628, a bispecific antibody targeting advanced solid tumors. Additionally, Morgan Stanley analyst Sean Laaman raised the price target for EXEL from $40 to $47, maintaining an Overweight rating on the shares.

SMCI | +17.7% | +474.9M
Super Micro Computer Inc | Technology Hardware, Storage & Peripherals
Super Micro Computer Inc. (NASDAQ:SMCI) has seen a notable price increase following the announcement of a multi-year partnership with Saudi data center firm DataVolt, valued at $20 billion. This agreement focuses on delivering high-density GPU platforms and rack-scale liquid cooling systems for AI campuses in both Saudi Arabia and the U.S. Additionally, Raymond James initiated coverage on Super Micro with an Outperform rating, highlighting its strong positioning in the AI-optimized infrastructure sector, which generates approximately 70% of its revenue. They project fiscal year 2026 revenue at $29.8 billion, setting a price target of $41. Social media discussions reflect a bullish sentiment surrounding SMCI, noting significant stock price movements and increased positions from major firms, including Wells Fargo and American Century Companies Inc. The stock rose notably after hours, contributing to a perception of growing recognition of SMCI's potential in the AI sector.

AMD | +4.3% | +8.1B
Advanced Micro Devices Inc | Semiconductors
Advanced Micro Devices has entered a significant partnership with Saudi Arabia's AI company Humain, involving a $10 billion investment to expand AI infrastructure in the region. This announcement was made approximately 16 hours ago and highlights AMD's strategic focus on the AI sector. Concurrently, social media discussions this morning revealed that BofA has raised AMD's price target from 120 to 130 while maintaining a Buy rating, citing the company's involvement in multi-year AI projects with Humain valued between $15 billion and $20 billion. Additionally, BofA raised Nvidia's price target from 150 to 160, reflecting a strong correlation between both companies' prospects in AI. Further conversations noted warnings from the US Commerce Department regarding Huawei Ascend chips and the implications for US AI chips, including those from AMD, as well as the Trump administration's rescinding of Biden's AI Diffusion Rule to promote American AI innovation.

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