PHILIPPINE BENCHMARK INDEX RISES UP TO 2.3% TO 6,106.96, REACHING HIGHEST SINCE APRIL 10

Corning (GLW.N) shares surged 18% in pre-market trading after Nvidia and Corning announced a long-term partnership.

Domestic News 1. Wang Yi meets with Iranian Foreign Minister Araghchi. 2. People's Bank of China: The weighted average interest rate for newly issued commercial personal housing loans nationwide in the first quarter of 2026 was 3.06%. International News 1. US gasoline prices hit $4.50, nearing a record high. 2. US April ADP nonfarm payrolls increased more than expected. 3. SpaceX plans to invest $55 billion in Texas to build a Terafab chip factory. 4. Federal Reserve's Mossalem: There are reasonable scenarios indicating that interest rates need to remain stable for some time. Risks are shifting towards inflation. 5. Middle East Situation: ① US media reports that the US and Iran are close to reaching a one-page memorandum to end the conflict and open a 30-day negotiation window. The Iranian Foreign Ministry says it is assessing the 14-point proposal put forward by the US. Iranian media says some of the reported content is speculative. ② US media: Trump says face-to-face negotiations between the US and Iran are premature. ③ Reports indicate that Netanyahu consulted with the Trump administration on US-Iran negotiations. ④ US media: Iran warns ships against transiting the Strait of Hormuz without permission. ⑤ The French aircraft carrier Charles de Gaulle sails towards the Red Sea in preparation for escort duties in the Strait of Hormuz. ⑥ Iranian parliamentary speaker: Iran is prepared to open fire if the US does not make necessary concessions. ⑦ US Middle East envoy Witkov recently held indirect talks with Iranian officials. ⑧ Trump: Operation Epic Fury will end if Iran complies with its commitments; otherwise, bombing will resume. ⑨ Trump says the war with Iran is "very likely to end," and the two sides are close to reaching an agreement. ⑩ Israeli official: The US has made it clear to us that Trump will stick to his "red lines," the most important of which is the removal of nuclear materials from Iran.