Key News:
1. Warsh nominated as Federal Reserve Chair; CME data shows a 66.3% probability of a June rate cut.
2. Fed Chair Bostic: The Fed doesn't need to cut rates now.
Stock News:
1. SpaceX reportedly considering a merger with Tesla (TSLA.O) or xAI.
2. Chevron (CVX.N) reported Q4 revenue of $46.87 billion, with earnings per share of $1.39.
3. Western Digital (WDC.O) reported Q2 2026 revenue of $3.02 billion, a 25% year-over-year increase.
4. Apple (AAPL.O) reported Q1 2026 iPhone revenue of $85.269 billion, exceeding market expectations of $78.65 billion.
5. Visa (V.N) reported Q1 2026 revenue of $10.9 billion, exceeding market expectations of $10.68 billion, compared to $9.51 billion in the same period last year.
6. GameSpot (GME.N) CEO: Targeting a large publicly traded company for acquisition, aiming to increase market capitalization to $100 billion.
7. Japanese media: Apple (AAPL.O) is prioritizing production and shipping of its three highest-end iPhone models for 2026, while delaying the launch of the standard version.
8. SanDisk (SNDK.O) reported second-quarter revenue of $3.025 billion, compared to IBES's estimate of $2.638 billion. SanDisk's third-quarter revenue outlook is $4.4 billion to $4.8 billion.
