Tuesday's data showed the U.S. goods and services trade deficit narrowed 1.2% in April to $55.9 bln as exports jumped to a record high. March's deficit was revised to $56.6 bln from $60.3 bln; economists had forecast $56.2 bln for April. If sustained, the export upswing could help trade contribute to GDP growth this quarter; trade has subtracted from GDP for two consecutive quarters.

TrendForce says depletion of some brands' low-cost memory inventories and several quarters of outsized memory-price gains have squeezed brand margins, prompting most vendors to curb production in Q2. TrendForce now forecasts full-year 2026 global smartphone production at 1.051 bln units, down about 16.2% YoY. In a downside scenario where memory-price inflation persists and brands must keep raising retail prices, the annual decline could deepen.

Emirates president says he hopes the airline weathers the current Middle East crisis safely.