JODI: Saudi Arabia's petroleum-product demand rose 90,000 bpd in May to 2.667 mln bpd.

HSBC chief multi-asset strategist Max Kettner warns equities could pull back as market sentiment overheats, fiscal stimulus wanes and uncertainty ahead of the US midterms rises. He recommends modestly trimming equity exposure after the current earnings season. Kettner, who has maintained his top Overweight since mid-March, says positioning and sentiment are near 2021 reopening levels and some US credit-card data show consumer spending is slowing. He adds a recent major fiscal package provides stimulus comparable to 2009 but is concentrated in 1H 2026, leaving limited near-term incremental support. Polling shows the Senate race is a toss-up, raising regulatory uncertainty around AI and data-center policy; that risk could weigh on the entire tech sector, not just semiconductors and hyperscalers. He views any pullback as a buying opportunity.

Eli Lilly (LLY.N) says its advertising for its weight-loss drug is truthful and transparent.