WS #7193
No material new developments in the last 30 minutes. The dominant macro narrative of oil supply crisis and PPI surge remains unchanged, with no counter-signals or de-escalation observed. All previously reported items are stale and carry forward as ongoing.
Key developments
- EIA crude inventories draw 4.306M barrels vs -2.10M est; gasoline draw 4.084M vs -2.85M est
- US wholesale inflation rises 6% YoY in April, highest since Dec 2022
- Nvidia becomes first company to reach $5.5 trillion market cap
- LinkedIn (MSFT) to lay off 5% of staff
- Trump and Xi meet in Beijing; potential tariff cuts for $30B of goods
- US Energy Secretary warns Iran is weeks away from weapons-grade uranium
- VNET shares jump 28% on new strategic investors
- Personalis rises ~11% on expanded Medicare coverage for NeXT Personal test