⚡️ JUST IN: Trump releases a statement on Iran.

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⚡️ JUST IN: Trump responds to Iran’s reply to the US 14-point peace proposal.

Futures will open in under 2 hours.

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⚡️ JUST IN: Over 600 current and former OpenAI employees reportedly sold $6.6B in stock, averaging about $11M each.

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⚠️ Key Events This Week

The week is centered around inflation. CPI and PPI will show whether price pressures are easing or staying stubborn, while retail sales will reveal how consumers are holding up under current conditions.

🟡 Monday

● April Existing Home Sales

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

🔴Tuesday

● April CPI Inflation data

The main release of the week. CPI is the most closely watched inflation report and has a direct impact on Fed expectations, rates, and the US dollar.

🔴 Wednesday

● April PPI Inflation data
● OPEC Monthly Report

PPI shows inflation pressure at the producer level. OPEC’s report provides an updated view on oil supply and demand, which can influence energy prices and inflation expectations.

🔴 Thursday

● April Retail Sales

This measures consumer spending, the main engine of the US economy. Strong data supports growth, while weaker numbers point to slowing demand.

🟡 Friday

● April Industrial Production

This tracks output from factories, mines, and utilities and offers another read on economic momentum.

Main focus: Tuesday’s CPI and Thursday’s Retail Sales.

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Michael Burry says the current US stock situation resembles the final months before the Dotcom bubble burst.

Michael Burry is a well-known investor who predicted 50 of the last 2 US stock market crashes.

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⚡️ JUST IN: Trump says he is considering renewing "Project Freedom" in the Strait of Hormuz.

Project Freedom is a US Military operation created to escort merchant ships through the Strait of Hormuz. US oil prices rose to $98 per barrel on the news.

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Trump said he is seriously considering making Venezuela the 51st state of the US.

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🔈 Saudi Aramco Warns of Critical Fuel Shortage

Saudi Aramco, the world's largest oil company, warns that fuel supplies are approaching a "critically low level".

According to Bloomberg, there are two weeks left before demand rationing for petroleum products begins.

The world is heading toward the most severe energy crisis in modern history, with a potential oil shortage caused by the war in Iran possibly triggering rationing within weeks.

Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners, says this is not a matter of months or quarters. He expects demand rationing to be more severe in the next couple of weeks than during COVID.

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⚡️ JUST IN: eBay rejects GameStop’s $56B takeover offer as “neither credible nor attractive”.

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⚡️ JUST IN: Iran has warned it could enrich uranium to 90% purity if attacked again by the US or Israel.

90% enrichment is widely considered weapons-grade uranium.

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⚡️ JUST IN: U.S. CPI rose 3.8% year-over-year, above the estimate of 3.7%, while core CPI increased 2.8%, beating the 2.7% estimate.

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Trump will meet Xi in Beijing on Thursday at 10:15am, attend a state banquet at 6pm, and hold a bilateral lunch on Friday, the White House says.

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Even Trump’s son doubted his father would start a war with Iran.

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⚡️ JUST IN: Nvidia $NVDA hits record high as Trump confirms Jensen Huang is on Air Force One to China.

Nvidia's market value reaches $5.4 trillion following the confirmation.

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US Secretary of State Marco Rubio traveled to China wearing the same suit as Maduro when he was captured by the US.

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