Federal Reserve's Collins: There have been many supply shocks recently, and we are very concerned about supply-side issues.

US MEMORY CHIPMAKERS SHARES RISE IN PREMARKET TRADING: SANDISK GAINS 3.5%, MICRON UP 5.2%

Key News 1. The US Senate confirmed Kevin Warsh as a member of the Federal Reserve Board of Governors for a 14-year term. The confirmation process for his concurrent appointment as Fed Chair is expected to begin immediately and could be completed as early as May 13th. 2. The US April PPI annual rate reached 6%, a new high since December 2022, exceeding market expectations of 4.9%. The April PPI monthly rate reached 1.4%, a new high since March 2022, exceeding market expectations of 0.5%. 3. OPEC Monthly Report: OPEC maintained its 2026 global economic growth forecast at 3.1% and its 2027 global economic growth forecast at 3.2%. It also lowered its forecast for global oil demand growth in 2026. 4. The Eurozone's first-quarter GDP annual rate was revised to 0.8%, in line with expectations, with the previous value revised from 0.8% to 1.3%. The initial value for the first quarter seasonally adjusted employment annual rate was 0.5%, in line with expectations, with the previous value at 0.7%. Individual Stock News 1. Nebius (NBIS.O) reported first-quarter revenue of $399 million, a 684% year-over-year increase, exceeding market expectations of $389 million; GAAP earnings per share were $2.11, compared to market expectations of a loss per share of $0.70. Revenue is projected to reach $3 billion to $3.4 billion by 2026. 2. SpaceX is in talks with Google (GOOG.O) regarding a rocket launch agreement. Google reportedly hopes to leverage SpaceX's launch capabilities to send its orbital data center, currently under development, into space. 3. According to sources, Walmart (WMT.N) plans to lay off or reassign approximately 1,000 employees to further integrate its global technology and AI product teams. 4. Alibaba (BABA.N) reported revenue of RMB 243.38 billion for the quarter ended March 31, 2026, a 3% year-over-year increase. Net profit attributable to ordinary shareholders was RMB 25.476 billion. 5. WeRide (WRD.O) reported first-quarter revenue of RMB 114 million, a 58% year-on-year increase, exceeding the estimated RMB 152.5 million; net loss was RMB 389.1 million, compared to an estimated loss of RMB 303.5 million; currently, its global Robotaxi fleet comprises approximately 1,300 vehicles, with plans to deploy 200,000 Robotaxi and other autonomous vehicles over the next five years. 6. Blue Origin is considering its first external investment. The CEO of Blue Origin stated that the company needs substantial capital to significantly increase its rocket launch frequency.