First Squawk
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WRIGHT: VENEZUELANS ARE IN CHARGE OF THEIR COUNTRY
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WRIGHT SAYS VENEZUELANS ARE IN CHARGE BUT US HAS ENORMOUS LEVERAGE
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BELGIAN POLICE RAID EUROPEAN COMMISSION OVER SALE OF PROPERTIES - FT
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RUSSIA TO SHIP OIL TO CUBA AS FUEL CRISIS DEEPENS

Russia will send crude oil and fuel to Cuba as humanitarian aid, its embassy said. The last shipment was 100,000 metric tons in February 2025. Cuba is facing severe fuel shortages after U.S. measures restricted oil supplies,
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FED RATE CUTS STILL LIKELY—BUT NO RUSH: UBS

Easing U.S. inflation should keep the Federal Reserve on track for rate cuts despite strong jobs data, UBS Global Wealth Management says. It expects two 25-basis-point cuts in June and September, supporting equities, bonds, and gold.
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LUFTHANSA EXPECTS BROADLY NORMAL OPERATIONS AGAIN ON FRIDAY
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EU COMMISSION: CHINESE TARIFFS ON EU DAIRY IMPORTS CONSIDERED ‘UNWARRANTED AND UNJUSTIFIED’
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EU COMMISSION: INVESTIGATIONS SHOULD NOT HAVE BEEN INITIATED, THERE WAS NOT SUFFICIENT EVIDENCE
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EU COMMISSION: TO CONSIDER ALL APPROPRIATE NEXT STEPS, INCLUDING POSSIBLE PROCEEDINGS BEFORE WTO
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26% of the 7.5 million unemployed in the US actively searching for work have been looking for more than six months, per FT
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CHINA: REGRETS EU'S WTO COMPLAINT ON PATENT LICENSING MEASURES
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CHINA: TO HANDLE DISPUTE WITH EU PROPERLY UNDER WTO PROCEDURES
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CHINA: VOWS TO PROTECT LEGAL INTERESTS VS EU'S WTO COMPLAINT
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ANALYST DOUBLE DOWNGRADES COINBASE TO SELL

Monness, Crespi, Hardt downgraded Coinbase from Buy to Sell, citing prolonged crypto market weakness. The firm cut revenue, EBITDA, and EPS forecasts, now expecting softness through 2026 and 2027.

While long-term bullish on Coinbase’s
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WARSH MAY NOT BE THE FED HAWK MARKETS EXPECT

Kevin Warsh’s reputation as a hardliner on inflation may be overstated, according to Evercore ISI’s Krishna Guha. While his nomination initially pushed yields higher and gold lower, Guha says Warsh is better seen as a pragmatic
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CRYPTO AT RISK AS SENTIMENT SAGS

Bitcoin and ether may face further declines as risk appetite weakens, according to Standard Chartered’s Geoff Kendrick. A softening U.S. economy and reduced expectations for Fed rate cuts until June are weighing on markets, alongside falling
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IPG PHOTONICS OUTLOOK Q1 REVENUE USD 235-265 MILLION || Q4 EPS USD 0.31 || Q4 GROSS MARGIN 36.1% || Q4 NET INCOME USD 13.3 MILLION || Q4 OPERATING MARGIN 1.2% || Q4 REVENUE USD 274.5 MILLION VS. IBES ESTIMATE USD 249.4 MILLION
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EURONET WORLDWIDE Q4 NET INCOME USD 51.5 MILLION || Q4 REVENUE USD 1,108.7 MILLION VS. IBES ESTIMATE USD 1,109 MILLION || Q4 ADJUSTED EPS USD 2.39 VS. IBES ESTIMATE USD 2.48 || Q4 OPERATING INCOME USD 101 MILLION
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Elon Musk has said:

They need to release Epstein’s videos with the victim’s images blurred out. He recorded everything. That will eliminate all doubt. I am in none of them, but many prominent people, especially on the left, are. Game over.
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Kim Jong Un has chosen his 13-year-old daughter as his heir to rule North Korea, per BBC
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Generation Z college students are reportedly arriving on campus struggling with basic reading comprehension, even difficulty processing full sentences, per FORTUNE.
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