S&P 500: Equities pressured by Oil and inflation – Deutsche Bank

Finance  S&P 500: Equities pressured by Oil and inflation – Deutsche Bank  Deutsche Banks Jim Reid notes that higher Oil prices and hawkish US inflation data created a challenging backdrop for equities. The S&P 500, Nasdaq Composite and Magnificent 7 all declined but recovered from deeper intraday losses, while defensive sectors such as healthcare and consumer staples outperformed. European indices, including the DAX and CAC 40, also weakened on Iran and Oil concerns.  US and European stocks retreat  “The hawkish inflation data combined with the Middle East conflict led to a challenging backdrop for equities.”  “However, this also wasnt helped by chipmakers and tech selling off with the Philly Stock Exchange Index falling back by -3.01%, although well off the -6.75% intra-day lows.”  “Elsewhere, the S&P 500 (-0.16%), Nasdaq Composite (-0.71%) and Magnificent 7 (-0.49%) also fell but again bounced off the lows.”  “The mood was more challenging in Europe, with multiple indices declining with the Iran and oil fears.”  “That included the DAX (-1.62%), CAC 40 (-0.95%) and Stoxx 600 (-1.01%), although the FTSE 100 (-0.04%) losses were not as steep.”

05-13

Euro: Range trading against US Dollar in low vol regime – ING

Finance  Euro: Range trading against US Dollar in low vol regime – ING  INGs Chris Turner highlights that EUR/USD three‑month implied volatility trades well below realised and near the lower end of its five‑year range, pointing to a range‑bound environment. With slightly greater upside risks to Oil prices, ING sees EUR/USD drifting lower in coming sessions but expects strong buying interest around 1.1650, while upcoming Eurozone Gross Domestic Product (GDP) and European Central Bank (ECB) speeches could shape expectations for a June rate hike.  Range-bound pair with downside risks  “EUR/USD three-month traded volatility is now 5.7%. That is more than 1% below realised volatility and not far from the 5.2/5.3% lower end of the range for traded volatility seen over the last five years. That does not mean that a new trend cannot occur, but when looking at the relatively flat risk reversal (the price of a euro call over an equivalent euro put), the conclusion is more range-bound EUR/USD trading.”  “Given that we see slightly greater upside risks to oil prices from current levels, EUR/USD could come a little lower over the coming sessions. However, good demand should be found once again at 1.1650. On the calendar today is the second release of 1Q26

05-13

XRP Breaks $1.46 Despite $434M In Futures Selling – Discover What Comes Next

Tech  XRP Breaks $1.46 Despite $434M In Futures Selling – Discover What Comes Next  XRP is showing strength as the market recovers from Februarys lows, with the price pushing above $1.46 and derivatives activity rebuilding across major exchanges. The move is constructive on the surface — but a CryptoQuant report tracking the flow data beneath the price action has identified a structural divergence that complicates the straightforward bullish reading considerably.  The open interest picture confirms that leverage is returning. On Binance, XRP open interest has climbed from approximately 207 million on April 30 to nearly 232 million today — a meaningful increase in derivatives positioning over a short period that reflects growing trader participation as the price recovers. In isolation, rising open interest during a price advance is a normal feature of a strengthening market.  Technically, XRP has improved considerably from the February lows near $1.10. Buyers successfully reclaimed the 50-day moving average and pushed the price back into the $1.40–$1.50 region, which now functions as the most important short-term battleground. That area has repeatedly rejected upside attempts since March, showing that supply remains active whenever XRP approaches breakout territory.  At the same time, sellers have failed to force a meaningful breakdown despite multiple pullbacks.

05-13

Baidus ERNIE 5.1 tops AI leaderboards, costs 94% less to train

Tech  Baidus ERNIE 5.1 tops AI leaderboards, costs 94% less to train  Baidu just did something that should make every AI lab reconsider its cloud computing budget. The companys ERNIE 5.1 model, launched on May 9, has climbed to fourth place globally on the Arena leaderboard and claimed the top spot among all Chinese AI models, with a score of 1,223.  The kicker: it got there while spending just 6% of what competitors typically burn on pre-training.  How Baidu pulled it off  The secret, according to Baidu, is what the company calls a “parameter efficiency” leap. ERNIE 5.1 reduced its total parameters by two-thirds compared to ERNIE 5.0, while only activating half of the remaining total size during inference.  The result has been independently validated as achieving flagship-level intelligence.  The timing is notable. Sino-US tech competition has intensified substantially, with US export controls on advanced chips forcing Chinese AI labs to squeeze maximum performance from constrained hardware. ERNIE 5.1‘s cost efficiency isn’t just an engineering flex. It‘s a strategic response to a geopolitical reality where access to cutting-edge Nvidia GPUs isn’t guaranteed.  The crypto angle: Ernie Chain and on-chain AI  Baidu hasn‘t launched a token for ERNIE 5.1 itself. But the company’s blockchain initiative, Ernie Chain, has been live

05-13

IEA says world oil supply to fall by 3.9 million bpd in 2026

Finance  IEA says world oil supply to fall by 3.9 million bpd in 2026  According to the International Energy Agency (IEA), the world oil supply to fall by 3.9 million barrels per day (bpd) in 2026 assuming the oil flows from the Strait of Hormuz, a critical passage to almost 20% of global energy supply, will gradually resume from June (prev. forecast 1.5 million bpd fall).  Additional projections  IEA sees total world oil supply 1.78 million bpd lower than demand in 2026 in monthly report (vs. 0.41 million bpd higher in previous report)  World oil demand falling by 420,000 bpd in 2026 on Iran war (prev. forecast 80,000 bpd drop).  Total global supply loss from Hormuz closure at 12.8 million bpd since February.  Global oil refinery runs are falling by 1.6 million bpd across 2026 on attacks, lower crude availability, and export restrictions.  War in the Middle East is depleting global oil inventories at a record pace, IEA says, after 246 million barrels drawn down in March-April.  Market reaction  No visible reaction by the WTI Oil price after the IEA projections release. As of writing, the WTI Oil price is down almost 1% lower to near $97.50.

05-13

Nvidia (NVDA) CEO Jensen Huang Makes Last-Minute Addition to Trump’s Beijing Delegation

Tech  Nvidia (NVDA) CEO Jensen Huang Makes Last-Minute Addition to Trumps Beijing DelegationJensen Huang made a surprise last-minute addition to Trumps China delegation following media reports about his initial exclusionPresident Trump is conducting his first China visit in almost ten years, scheduled for Thursday and Friday meetings with Xi JinpingUS export controls have significantly eroded Nvidias position in Chinas artificial intelligence chip sectorOther CEOs joining the trip include Elon Musk, Tim Cook from Apple, and Kelly Ortberg representing BoeingUS trade representative Scott Bessent conducted preliminary discussions with Chinese counterparts in South Korea before the summit  The Nvidia chief executive wasn‘t included initially. Jensen Huang’s name was missing from the White House‘s original manifest for Donald Trump’s Beijing journey, despite other prominent corporate executives being confirmed as participants.  This is absolutely insane.  President Trump is currently flying to China with all of the following people to request “deals” with Chinas President Xi:  1. Elon Musk, Tesla and SpaceX CEO  2. Jensen Huang, Nvidia CEO  3. Tim Cook, Apple CEO  4. Larry Fink, BlackRock CEO  5. Stephen…  — The Kobeissi Letter (@KobeissiLetter) May 13, 2026  The situation shifted during a stopover in Alaska. Huang was observed joining Air Force One en route to Chinas capital, after receiving a direct invitation from Trump in

05-13

Square reaches 1m Bitcoin-enabled merchants in U.S. rollout

Blocks Square has reportedly enabled roughly one million U.S. merchants to accept Bitcoin payments. Squares auto-enrollment push has now enabled roughly one million U.S. sellers to accept Bitcoin payments.Lightning Network support lets customers pay in BTC while merchants receive U.S. dollars by default.Blocks wider Bitcoin strategy includes Cash App rewards, Bitkey custody, and proof-of-reserves reporting across products.  The rollout uses the Lightning Network, allowing customers to pay in BTC while sellers receive U.S. dollars by default.  The update follows Squares earlier plan to bring Bitcoin payments to eligible sellers by 2026. Block said in 2025 that the feature would allow merchants to accept Bitcoin through Square hardware, with near-instant settlement and real-time exchange rate handling in the background.  Lightning removes payment friction  Squares setup is designed to reduce the risk that merchants face from Bitcoin price swings. Customers pay in Bitcoin, while the system handles conversion before settlement. Sellers can opt out if they do not want to accept the payment option.  Crypto.news previously reported that Square began onboarding merchants in July 2025. That report said merchants could keep Bitcoin or convert it into fiat currency, while Lightning supported faster and cheaper payments than many traditional card rails.  Additionally, Block has framed the rollout as part

05-13

Japanese Yen : Recovery against US Dollar faces resistance near 158.30 – UOB

Finance  Japanese Yen : Recovery against US Dollar faces resistance near 158.30 – UOB  UOB strategists Quek Ser Leang and Lee Sue Ann note USD/JPY remains underpinned after a volatile session that saw a spike to 157.76 and a brief drop to 157.04 before closing at 157.61. Intraday, the pair could edge higher but is expected to stay below 157.95. Over 1–3 weeks, any further recovery should meet significant resistance around 158.30, with strong support now at 156.70.  Dollar Yen recovery momentum moderates  “24-HOUR VIEW: Two days ago, USD rose and closed 0.33% higher at 157.16. Yesterday, when USD was at 157.30, we indicated that ”the rapid increase in upward momentum suggests USD could rise further to 157.65.“ We also indicated that ”a break above this level is not ruled out, but the major resistance at 157.95 is likely out of reach.“ We added, ”to sustain the build-up in momentum, USD must hold above 157.00 (with minor support at 157.15).“ While our view was not wrong, the price movements did not quite turn out as expected, as after rising to 157.76, USD plunged sharply, but briefly, to 157.04, and then rebounded to close at 157.61 (+0.29%). While there has been no further increase in

05-13

TON AI smart contracts: Acton toolchain for faster builds

Tech  TON AI smart contracts: Acton toolchain for faster builds  TON AI smart contracts may have just become a lot less tedious. Pavel Durov has unveiled TON Cores new AI-powered toolchain, Acton, pitching it as a way to cut through the manual work of blockchain development and speed up the process dramatically.  The launch date is already set: Acton went live on May 8, 2026. Its promise is simple and ambitious at the same time — help developers turn templates into working blockchain logic faster, with TON saying the tool can make smart contract development 10 times faster.  That claim will grab attention on its own. However, the bigger story is what TON is trying to do here: make developer experience a selling point in a crowded blockchain race where speed, ease of use, and onboarding matter almost as much as the chain itself.  TON launches Acton to speed up smart contract work  Durov‘s announcement puts Acton at the center of TON’s push to make building on the network easier for developers.  Acton is described as an AI-powered toolchain from TON Core, and its core function is to automate the transformation of smart contract templates into autonomous agents. Instead of requiring developers to write large amounts of

05-13

Brent Crude Rises On Supply Risks, Says Commerzbank

Tech  Brent Crude Rises On Supply Risks, Says Commerzbank  Analysts at Commerzbank have noted that Brent crude oil prices are currently being supported by heightened supply risks, according to a recent market commentary. The assessment points to a combination of geopolitical tensions and production uncertainties that are contributing to upward pressure on the benchmark.  Factors Behind the Supply Risk Assessment  Commerzbank‘s analysis focuses on several key factors that are tightening the global oil supply outlook. These include ongoing disruptions in key producing regions, potential sanctions impacts, and voluntary production cuts by major exporters. The bank’s commodities research team emphasizes that while demand-side concerns remain, the immediate price driver is the supply side.  The assessment comes amid a period of relative volatility in energy markets, where traders are weighing the risk of supply shortfalls against a global economic backdrop that could dampen consumption. Commerzbanks view aligns with a broader market sentiment that the balance of risks is tilted toward higher prices in the near term.  Implications for the Energy Market  The supply risk premium is not a new phenomenon, but its current prominence reflects specific events. Recent geopolitical developments have raised the possibility of further disruptions to crude flows from the Middle East and other key export routes.

05-13
1
...
573575
...
1000