Welcome to the MarketReader Minute.

Below are AI-generated insights on today’s premarket moves, powered by MarketReader technology.

If you find the insights useful, you may subscribe to our new sector-specific newsletters or share this on Twitter.

Thursday, May 22

Noteworthy macro moves today: Ethereum +4.0%. Bitcoin +1.6%. Noteworthy US mega-cap moves today: UnitedHealth Group Inc (UNH) -2.7%. Alphabet Inc (GOOG) +1.6%. Alphabet Inc (GOOGL) +1.6%.

Recent market movements are heavily influenced by the passage of President Trump's sweeping tax and spending bill in the U.S. House, which is projected to increase national debt significantly over the next decade. This development has led to rising concerns about fiscal sustainability, contributing to a spike in long-term Treasury yields that reached their highest levels since November 2022.

In Europe, economic data releases have shown mixed results but generally indicate weakness; notably, Germany's Services PMI fell below expectations for May while its Ifo Business Climate index showed slight improvement. The Eurozone Composite PMI also indicated contraction for private sector activity as it dropped from 50.4 to 49.5—reflecting ongoing challenges amid trade tensions and inflationary pressures.

Additionally, central bank policies remain pivotal with speculation surrounding further interest rate cuts from both the European Central Bank (ECB) and potential adjustments by other major banks due to evolving global economic conditions. ECB officials continue signaling readiness for additional easing measures amidst persistent downside risks related primarily to inflation dynamics within member states.

EUR/USD (EUR/USD) [-0.3%]
The EUR/USD is currently down, reflecting a decline attributed to disappointing economic data from Germany and the Eurozone. The German Manufacturing PMI fell into contraction territory at 48.8, while the Services PMI dropped significantly to 47.2. The HCOB Eurozone Composite PMI also fell unexpectedly to 49.5, suggesting broader weakness in private sector activity. In France, the HCOB Composite PMI matched expectations at 48.0, but the Services PMI underperformed at 47.4. The German Ifo Business Climate Index improved slightly to 87.5, exceeding expectations. Additionally, social media discussions highlighted mixed results from recent economic indicators, with the Eurozone Manufacturing PMI showing a slight improvement, yet the Services PMI for Germany indicated contraction. GBP/USD has moved slightly lower as well, reflecting broader market sentiment that may also influence EUR/USD's decline.

Bitcoin (BTC/USD) [+1.6%]
Bitcoin has reached a new all-time high, surpassing 111,000 today. This surge is linked to U.S. regulatory advancements and significant inflows into exchange-traded funds, which have increased demand for the cryptocurrency. The recent progress in stablecoin legislation by the U.S. Senate committee and JPMorgan's facilitation of direct Bitcoin purchases for clients are notable developments. Additionally, BlackRock's acquisition of nearly 5,000 BTC for over 530 million on May 21, alongside their current holdings of approximately 643,974 BTC valued at over 67 billion, underscores institutional demand. Recent ETF inflows have totaled around 607.1 million. Meanwhile, Bitcoin discussions on social media have intensified, with users celebrating Bitcoin Pizza Day and reflecting on the historical significance of the first recorded transaction using BTC. Ethereum has also seen a substantial increase, suggesting a broader market sentiment influencing both assets.

FNMA | +43.5% | +5.4B
Federal National Mortgage Association | Commercial & Residential Mortgage Finance
Federal National Mortgage Association (FNMA) has seen a significant price movement, increasing notably since Wednesday. President Donald Trump has expressed serious consideration for taking FNMA and Freddie Mac public, as stated in a recent Truth Social post. He plans to consult with key officials, including Treasury Secretary Scott Bessent and Federal Housing Finance Agency Director William Pulte, before finalizing this decision. Trump emphasized the strong financial performance of both entities, noting they are "doing very well" and generating substantial cash flows. Social media discussions have reinforced this sentiment, with users highlighting Trump's comments and suggesting that insider trading may have influenced FNMA's recent price increase. This potential shift towards privatization could impact FNMA's market position significantly.

SNOW | +8.4% | +5.5B
Snowflake Inc. | Internet Services & Infrastructure
Snowflake Inc. reported its first-quarter results on May 21, 2025, revealing revenue of $1.04 billion, surpassing estimates of $1.01 billion, and marking a year-over-year increase of 26%. Adjusted earnings per share were $0.24, beating the consensus estimate of $0.21. The product revenue for the quarter reached approximately $997 million, also reflecting a 26% year-over-year growth. The company raised its guidance for second-quarter product revenue to between $1.035 billion and $1.04 billion, indicating a 25% increase year-over-year. Additionally, the full-year product revenue outlook was increased to $4.325 billion from $4.28 billion. Snowflake achieved over $1 billion in quarterly revenue for the first time, with a total of 11,578 customers, marking a 19% increase year-over-year. The net revenue retention rate stood at 124%, and analysts reacted positively by raising their price targets following the earnings release.

UNH | -3.5% | -9.3B
UnitedHealth Group Inc | Managed Health Care
UnitedHealth Group Inc has experienced a notable decline in market capitalization, losing nearly $140 billion since mid-April. The company's shares fell significantly following disappointing Q1 results, which culminated in the resignation of CEO Andrew Witty on May 13. Compounding these issues, a potential criminal investigation by the Department of Justice regarding Medicare fraud has emerged, further intensifying scrutiny. The Centers for Medicare & Medicaid Services has announced an expansion of audits for Medicare Advantage plans, a move that has raised concerns about regulatory compliance and financial performance within the sector. This announcement has led to immediate declines in UnitedHealth's stock, reflecting the heightened anxiety surrounding its operations. Social media discussions have highlighted these developments, particularly the leadership change and regulatory pressures affecting the company.

HUM | -5.8% | -1.6B
Humana Inc | Managed Health Care
Shares of Humana Inc. have dropped significantly following the Centers for Medicare & Medicaid Services (CMS) announcement regarding an expansion of audits for Medicare Advantage plans. This initiative, effective immediately, will audit all eligible contracts for payment years from 2018 through 2024, aiming to address concerns about fraud and overbilling in federal healthcare programs. The CMS plans to enhance its audit processes by deploying advanced technology and increasing its workforce dedicated to these audits. Federal estimates suggest that Medicare Advantage plans may overbill the government by approximately $17 billion annually. In after-hours trading, Humana's shares fell by 5%, reflecting similar declines among other major health insurers. Social media discussions highlight concerns about the potential financial implications for Humana and increased scrutiny from the CMS, further contributing to the stock's volatility.

ADI | +3.2% | +3.6B
Analog Devices Inc | Semiconductors
Analog Devices Inc reported second-quarter financial results, revealing a revenue increase of 22% year-over-year, totalling 2.64 billion, which surpassed analyst expectations of 2.51 billion. Adjusted earnings per share reached 1.85, exceeding the anticipated 1.70. The company's net income for the quarter was 569.77 million, up from 302.24 million a year prior. Additionally, Analog Devices provided guidance for the third quarter, projecting adjusted EPS between 1.82 and 2.02 and revenue of 2.65 billion to 2.85 billion, both above consensus estimates. This strong performance was driven by robust demand in the automotive and industrial sectors, resulting in significant growth in bookings and backlog. Meanwhile, Navitas Semiconductor Corp experienced a surge following its collaboration with NVIDIA, which may be contributing to Analog Devices' recent price movement.

Thank you for spending a minute with us. 

If you have 2 more minutes, watch this demo of the MarketReader Platform: