OPENAI'S AI CODING AGENT CODEX SET TO LAUNCH ON THE CHATGPT MOBILE APP THURSDAY – AXIOS
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APPLIED MATERIALS Q2 26 EARNINGS: REVENUE: $7.91B (EST $7.65B); NET INCOME: $2.81B; ADJ NET INCOME: $2.29B (EST $2.11B); EPS: $3.51; ADJ EPS: $2.86 (EST $2.66); ADJ GROSS MARGIN: 50%; ADJ OPERATING MARGIN: 32.1%; ADJ FREE CASH FLOW: $210M; SEMICONDUCTOR SYSTEMS NET SALES: $5.97B (EST $5.79B); PROJECTS Q3 NET SALES: $8.45B TO $9.45B (EST $8.15B); PROJECTS Q3 ADJ DILUTED EPS: $3.36 +/- $0.20
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OPENAI: CODEX IN THE CHATGPT MOBILE APP IS ROLLING OUT IN PREVIEW ON iOS AND ANDROID ACROSS ALL PLANS, INCLUDING FREE AND GO, IN ALL SUPPORTED REGIONS
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QATARI FOREIGN MINISTRY: ALL DISPUTES CAN BE SETTLED THROUGH DIALOGUE, INCLUDING THE STRAIT OF HORMUZ CRISIS
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CIA OFFICIAL VERIFIES HAVANA MEETING BETWEEN SPY CHIEF RATCLIFFE AND RAULITO CASTRO, INTERIOR MINISTER ALVAREZ CASAS, AND HEAD OF CUBAN INTELLIGENCE
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CIA OFFICIAL: CIA DIRECTOR CONVEYED A MESSAGE FROM TRUMP THAT THE U.S. IS READY TO ENGAGE ON ECONOMIC AND SECURITY MATTERS IF CUBA UNDERTAKES "FUNDAMENTAL CHANGES"
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TRUMP ON TRUTH SOCIAL: WHEN PRESIDENT XI ELEGANTLY DESCRIBED THE US AS POSSIBLY A DECLINING NATION, HE WAS POINTING TO THE ENORMOUS DAMAGE INFLICTED DURING FOUR YEARS OF SLEEPY JOE BIDEN, AND ON THAT HE WAS 100% RIGHT. OUR COUNTRY SUFFERED IMMENSELY WITH OPEN BORDERS, HIGH TAXES, TRANSGENDER POLICIES, MEN IN WOMEN'S SPORTS, DEI, TERRIBLE TRADE DEALS, AND RAMPANT CRIME
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TRUMP: PRESIDENT XI WAS NOT REFERRING TO THE INCREDIBLE RISE OF THE US OVER THE 16 MONTHS OF THE TRUMP ADMINISTRATION — RECORD STOCK MARKETS AND 401KS, MILITARY VICTORY IN VENEZUELA, THE MILITARY CRUSHING OF IRAN, STRONGEST MILITARY ON EARTH, RECORD $18 TRILLION INVESTED INTO THE US, AND BEST JOB MARKET IN HISTORY. TWO YEARS AGO WE WERE A NATION IN DECLINE, BUT NOW THE US IS THE HOTTEST NATION IN THE WORLD AND OUR RELATIONSHIP WITH CHINA WILL HOPEFULLY BE STRONGER THAN EVER
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TRUMP ON TRUTH SOCIAL: PRESIDENT XI WAS NOT REFERRING TO THE INCREDIBLE RISE OF THE US OVER THE 16 MONTHS OF THE TRUMP ADMINISTRATION — RECORD STOCK MARKETS AND 401KS, MILITARY VICTORY IN VENEZUELA, THE MILITARY CRUSHING OF IRAN, STRONGEST MILITARY ON EARTH, RECORD $18 TRILLION INVESTED INTO THE US, AND BEST JOB MARKET IN HISTORY. TWO YEARS AGO WE WERE A NATION IN DECLINE, BUT NOW THE US IS THE HOTTEST NATION IN THE WORLD AND OUR RELATIONSHIP WITH CHINA WILL HOPEFULLY BE STRONGER THAN EVER
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FED'S WILLIAMS: FED INDEPENDENCE PRODUCES BETTER ECONOMIC RESULTS; NOT THE TIME TO WORRY ABOUT FED INDEPENDENCE — STAFF REMAIN FOCUSED ON THE MISSION; CONTEXT MATTERS FOR INFLATION GIVEN ITS PERSISTENCE ABOVE TARGET; TARIFFS APPEAR TO HAVE LARGELY FILTERED THROUGH THE ECONOMY
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FED'S WILLIAMS: THE JOB MARKET IS NOT FUELING INFLATION PRESSURES AND IS NOT TIGHT; NOT TAKEN ABACK BY THE RISE IN NEAR-TERM INFLATION EXPECTATIONS; SEEING FAIRLY STEADY LONGER-TERM INFLATION EXPECTATIONS; EMERGING CONCERNS AROUND SUPPLY CHAIN PRESSURES; NOT SEEING SIGNS OF TROUBLE WITH INFLATION EXPECTATIONS
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FED'S WILLIAMS: NOT YET OBSERVING SIGNIFICANT SECOND-ROUND IMPACT ON INFLATION; CONSIDERABLE UNCERTAINTY SURROUNDING THE ENERGY PRICE OUTLOOK; THE JOB MARKET HAS BEEN SHOWING SIGNS OF STABILIZING — NEITHER "HOT" NOR SLOWING SHARPLY
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NEW ZEALAND FOOD PRICE INFLATION INDEX HOLDS FLAT AT 0.0% IN APRIL FROM THE PRIOR MONTH – STATS NZ

NEW ZEALAND FOOD PRICE INDEX ACTUAL 0% (FORECAST -, PRIOR -0.6%)
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AUSTRALIA RESOURCES MINISTER: EXPORTERS HAVE ASSURED THE GOVERNMENT THEY WILL SUPPLY ENOUGH GAS TO MEET DEMAND THROUGHOUT THE THIRD QUARTER
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AUSTRALIA RESOURCES MINISTER: THE COUNTRY WILL NOT IMPOSE GAS EXPORT CURBS ON THE EAST COAST MARKET
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FED'S BARR: SHIFTING BACK TO LIMITED RESERVES WOULD INVOLVE MAJOR TRADE-OFFS; LIQUIDITY REQUIREMENTS SHOULD BE STRENGTHENED, NOT WEAKENED; EFFECTIVE MONETARY POLICY EXECUTION HINGES ON RATE MANAGEMENT; CREATING RESERVES INCURS NO COST TO THE FED; THE MONETARY POLICY TOOLKIT HAS BEEN EFFECTIVE FOR A LONG TIME
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FED'S BARR: FED IS WORKING TO ADJUST BALANCE SHEET DURATION TO BETTER MATCH THE BROADER TREASURY MARKET; SKEPTICAL THAT A LIQUIDITY COVERAGE RATIO TWEAK WILL MEANINGFULLY ALTER RESERVE DEMAND; A SMALLER FED BALANCE SHEET WOULD LIKELY INCREASE FED INTERVENTIONS AND BOOST FLOWS INTO FED LIQUIDITY FACILITIES
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FED'S BARR: LOWERING LIQUIDITY REQUIREMENTS WOULD ONLY AMPLIFY STABILITY RISKS; EASING LIQUIDITY RULES TO TRIM THE FED'S BALANCE SHEET IS NOT ADVISABLE
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SENIOR STATE DEPARTMENT OFFICIAL ON ISRAEL-LEBANON TALKS: HAD A FULL DAY OF CONSTRUCTIVE AND POSITIVE DISCUSSIONS; LOOKS FORWARD TO CONTINUING TALKS ON FRIDAY AND HOPES TO HAVE MORE TO SHARE THEN
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JAPAN PM TAKAICHI PLANS PHONE TALKS WITH US PRESIDENT TRUMP AS EARLY AS FRIDAY, NIKKEI REPORTS
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JAPAN PPI (M/M) APR: 2.3% (EST 0.8%; PRIOR 0.8%); PPI (Y/Y): 4.9% (EST 3.0%; PRIOR 2.6%)
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