U.S. April factory orders excluding defense +4.7% MoM; prior +0.9%.

Tianfeng analyst Guo Mingchi said John Ternus, expected to become Apple’s next CEO, has approved scaling back Apple’s glasses roadmap—removing the Vision Pro line and reallocating resources to smart‑glasses with broader consumer appeal. Supply‑chain checks show AR/XR smart glasses with displays using waveguide optics delayed to 2029; non‑display AI glasses (Ray‑Ban Meta‑style) remain on track for 2027.

Fed's Williams said if conditions change the Fed will need to respond.