⚠️ Key Events This Week

The week is lighter on macro, but still includes several important catalysts. Fed minutes will provide more detail on the last policy meeting, while Nvidia’s earnings remain the biggest corporate event of the quarter and could drive sentiment across the entire AI and semiconductor space.

🟡 Tuesday

● April Pending Home Sales

This shows housing demand under current mortgage rates and gives a read on activity in the real estate market.

🔴 Wednesday

● Fed Meeting Minutes
● Nvidia $NVDA earnings

The minutes will reveal how Fed officials are thinking about inflation and rate cuts. Nvidia’s results are expected to set the tone for AI-related stocks and broader market sentiment.

🟡 Thursday

● May Philly Fed Manufacturing Index

A quick read on factory activity and business conditions in the US.

🟡Friday

● May UMich Consumer Sentiment
● May UMich Consumer Expectations

These reports show how consumers view the economy and their own financial outlook. Weak sentiment can signal softer spending ahead.

Main focus: Wednesday’s Fed minutes and Nvidia earnings.

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⚡️ JUST IN: US proposed a temporary waiver on Iran oil sanctions, according to Iranian sources.

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⚡️ JUST IN: Iran starts Bitcoin-backed shipping insurance for the Hormuz Strait.

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⚡️ JUST IN: US rejects latest Iranian peace proposal ahead of Situation Room meeting on Tuesday.

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Berkshire Hathaway shares have lagged the S&P 500 since Warren Buffett stepped down as CEO in May this year, with the gap now at a record 44%.

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China has been actively buying gold on dips since March.

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⚡️ JUST IN: Trump says he is postponing the planned military attack on Iran scheduled for tomorrow.

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The US has already spent over $85 billion on its military operation in Iran, with the current spending rate at $11,500 per second.

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⚡️ JUST IN: US 30-year yield rises to highest level since 2007.

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⚡️ JUST IN: NATO discusses deploying troops to the Strait of Hormuz to escort ships if the waterway is not reopened by early July.

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⚡️ JUST IN: Trump said the US may have to give Iran another hit and a decision on action is coming soon, adding the public will know very soon if another big hit is needed.

He also said the US will help Cuba and thinks a diplomatic deal can be reached, but he does not know about changing Cuba's regime.

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Trump appears to have opened a brokerage office in the White House as his trading volumes have sharply increased.

He trades nearly all major US stocks he praises, including Intel, Tesla, and Microsoft.

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⚡️ JUST IN: Putin and Xi sign Beijing agreement to deepen Russia-China strategic cooperation and extend landmark 25-year friendship treaty.

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Berkshire Hathaway has been selling US stocks for 14 consecutive quarters, marking its longest selling streak ever.

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⚡️ JUST IN: Iran parliament speaker says enemy moves show preparations for a new round of war.

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⚡️ JUST IN: Pakistan is expected to announce the final draft of a peace agreement between the United States and Iran soon per Saudi Arabia's state news agency.

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⚡️ JUST IN: Trump says US-Iran talks are in the final stages.

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Barclays warns that since 1930, US stocks have fallen an average of 12% in the first three months after a new Fed chairman takes office.

Kevin Warsh will be sworn in as the new Fed chairman on Friday, May 22.

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