The Vickers insider sell/buy ratio, which tracks corporate insider transactions, shows insiders are buying. [when it's time to buy, you don't want to buy. BTFD!]

🚨PayPal and Coinbase expand partnership to boost PYUSD adoption. Users can make fee-free PYUSD transactions and redeem 1:1 for USD. Innovative payment solutions and DeFi applications are being explored. -announcement

🚨CME Group announced plans to launch XRP futures on May 19, pending regulatory review. Market participants will have the choice to trade both a micro-sized contract (2,500 XRP) and a larger-sized contract (50,000 XRP). -PR

Nasdaq 100 rises 1%; S&P 500 gains 0.5%

🚨Fed's Waller: Rate cuts could come from rising unemployment. Demand slowdown from tariffs would offset some inflation impact

April's Atlanta Fed BIE Survey shows business sales sentiment slumping. The diffusion index fell to -28, the weakest since August 2020, with firms reporting sales well below normal levels. [rising unemployment is next]

Wall St extends gains: S&P 500 +2%, Nasdaq +2.5%, Dow +1%

🚨The People’s Bank of China injects 600 billion yuan ($82.3bn) via a one-year MLF to ensure ample banking liquidity and counter US tariffs, resulting in a net 500 billion yuan cash injection, the largest since December 2023.

Several Chinese tech companies confirmed that eight tariff codes related to semiconductors and integrated circuits are now exempt from additional tariffs. This reduces tariffs on some US-origin chips from 125% to 0%, with only a 13% VAT applied.

BofA Global Research cuts Euro area GDP growth forecast for 2025 by 10 bps to 0.8%

Federal worker initial jobless claims rose for a second consecutive week. 629k vs. 542k prior

Vanda's capitulation index suggests we're still about three-fourths of the way to a full-blown capitulation.

Stablecoins hit new ATH, total market cap at $236.6B

The S&P 500 is up at least 1.5% for three days in a row. Historically we've seen this before times of strong performance. Higher 10 out of 10 times a year later and up 21.6% on average.

*Trump: China's Xi has called him – Time Magazine interview
*Trump: His administration in active talks with Chinese to strike a deal – Time Magazine interview
*Trump: I will set a fair price of tariffs for different countries
*Trump: Would consider it a victory if U.S. has 50% tariffs a year from now – Time
*Trump signals support for ban on congressional stock trading
*Trump says he wouldn't call Xi unless Xi called him first
*Chinese embassy: China, U.S. not having any talks on tariffs
*Chinese embassy: US should stop creating confusion

🚨ECB's President Lagarde: The ongoing escalation of trade tensions complicates the global inflation outlook.

🚨Spot gold extends fall, last down 2% at $3,282.5/oz [the rotation into bitcoin has started]

At open, Dow Jones down 0.12%, S&P 500 and Nasdaq edge up 0.1%; Intel tumbles 10%, Alphabet extends gains for fourth session to rise 3.7%

25% pharma tariffs would increase U.S. drug costs by $51 bln annually: report commissioned by industry's U.S. trade group [inflation ⬆️]

BTC $95k