S&P 500 hit a fresh all-time high (7,444) as the Trump-Xi summit in Beijing drove AI and semiconductor stocks to records — Nvidia reached $5.5T market cap and Trump confirmed discussing Blackwell chip exports with Xi — even as April PPI printed +6.0% YoY, the hottest since December 2022. Kevin Warsh was confirmed as Fed Chair 54-45, inheriting a policy trap. The 30-year Treasury crossed 5.046% at auction. The IEA warned of the largest oil supply deficit in history at 8.5 mb/day.
Tag Archives | Senate
MIB: Summit Override — S&P and Nasdaq ATH Despite PPI 6.0%, Warsh Confirmed, 30-Year Clears 5%
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MIB: Senate Clears Iran Strikes, Services PMI Hits 4-Year High, and Broadcom’s AI Revenue Doubles to $8.4B
Iran peace talk whipsaws oil — NYT reports secret Iran-CIA outreach, Tehran denies; VIX tumbles from 26.4 to 20.4. Broadcom AI revenue doubles to $8.4B, Q2 guidance $22B (AVGO up AMC). ISM services PMI hits 56.1%, strongest since 2022. ADP +63K, but January slashed to 11K. CrowdStrike (CRWD) +1.79% on earnings digest; Ross Stores (ROST) +7% on Q4 beat. Senate defeats war powers resolution.
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