- The S&P 500 and Nasdaq Composite jumped back to record highs yesterday after
President Donald Trump extended the U.S. ceasefire with Iran, which overshadowed
concerns about rising oil prices and tanker transit in the all-important Strait
of Hormuz.
- Tesla reported stronger-than-expected earnings for the first quarter
yesterday, but its revenue for the period came in under analysts’ estimates. The
electric vehicle makers also forecast greater spending than previously
anticipated, dragging shares down more than 3% before the bell.
- Kevin Warsh told senators this week that he would prefer the Federal Reserve
use “trimmed averages” to measure inflation, rather than the core price index
for personal consumption expenditures. But Bank of America warned yesterday that
this could backfire.
- Warner Bros. Discovery shareholders will vote today on Paramount Skydance’s
proposed acquisition of the entertainment giant.
- Uncle Sam has taken an interest in Spirit Airlines. The White House is in
advanced talks for a financing package to rescue the budget air carrier, people
familiar with the matter told CNBC yesterday.
