Important News
1. President Xi Jinping spoke with US President Trump by phone.
Stock News
1. According to CNBC: Nvidia (NVDA.O) spent over $900 million to hire Rochan Sankar, CEO of AI hardware startup Enfabrica, and other employees. Nvidia reportedly paid for the deal in cash and stock, and it closed last week.
2. FedEx (FDX.N) executives: Amazon's (AMZN.O) onboarding will be completed in the third quarter. Amazon's (AMZN.O) business will favor larger and heavier packages.
3. FedEx (FDX.N) CEO: US tariffs are causing a $150 million headwind for exports.
4. Sources: Novo Nordisk (NVO.N) has cut its US sales team for obesity and diabetes education for healthcare providers.
5. Football club investment company Brera (BREA.O) secured $300 million in private equity funding led by Abu Dhabi's Pulsar Group and Cathie Wood's ARK Invest.
6. E-commerce company Pattern (PTRN.O) priced its IPO at $14 per share and will be listed on the Nasdaq tonight.