Key News
1. "Big Short" Michael Burry warns that the Nasdaq 100 index faces a sharp reversal due to overvaluation of tech stocks.
2. US Defense Secretary Hergsays: We have plans to escalate the situation with Iran if necessary.
3. JPMorgan Chase issues a grim assessment of the global oil market, warning that supply disruptions caused by the US-Iran conflict could push Brent crude prices to $150 and raise US inflation to 4%, while also causing the Federal Reserve to hold rates steady until 2027.
4. The US April unadjusted CPI annual rate reached 3.8%, a new high since May 2023, exceeding market expectations of 3.7%.
5. The US April unadjusted core CPI annual rate reached 2.8%, a new high since September 2025, exceeding market expectations of 2.7%.
6. The US seasonally adjusted core CPI rose 0.4% month-on-month in April, the highest since January 2025, exceeding market expectations of 0.3%. The seasonally adjusted CPI fell to 0.6% month-on-month in April, the lowest since February this year, in line with market expectations.
Individual Stock News
1. eBay (EBAY.O) formally rejected GameStop's $56 billion acquisition offer on Tuesday, calling the proposal "neither credible nor attractive."
2. Merck (MRK.N) Research & Development (China) Co., Ltd. announced that it has signed cooperation agreements with Meisai Bio and Dage Biotech, respectively, to jointly promote clinical collaborative development based on an independent cooperation framework; and signed letters of intent for cooperation with Zai Lab and Yifang Biotech.
3. JD.com (JD.O): Revenue for the first quarter of 2026 was RMB 315.7 billion, an increase of 4.9% year-on-year. Net profit attributable to ordinary shareholders was RMB 5.1 billion, and non-GAAP net profit attributable to ordinary shareholders was RMB 7.4 billion. 4. Vodafone (VOD.O) expects adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for fiscal year 2027 to be between €11.9 billion and €12.2 billion, with adjusted free cash flow between €2.6 billion and €2.9 billion. In fiscal year 2026, EBITDA is expected to increase by 3.8% year-on-year to €11.4 billion.
5. Tencent Music (TME.N): Total revenue for the first quarter of 2026 was RMB 7.9 billion, a year-on-year increase of 7.3%; non-IFRS net profit attributable to equity holders of the company was RMB 2.27 billion, a year-on-year increase of 7.0%.
