Good morning.
The Fast Five → Senate confirms Warsh to Fed board, Wall Street growing anxious about long-term inflation, markets raise odds of 2026 rate hike, eBay flips the bird at GameStop, and tariffs, AI, and Strait of Hormuz in focus for Trump's Beijing visit…
📌 Trump admin to pump $1 Billion into this “off-the-radar” AI stock →
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Calendar: Full Calendar »
Today:
Producer Price Index, 8:30A
Tomorrow:
Retail Sales, 8:30A
Unemployment Claims, 8:30A
Your 5-minute briefing for Wednesday, May 13:
BEFORE THE OPEN
As of market close 5/12/2026.
Pre-Market:
US Investor % Bullish Sentiment:
↑ 31.73% for Week of MAY 07 2026
Previous week: 38.31%
Market Wrap:
Futures flat Dow +8, S&P flat, Nasdaq flat
Tuesday dipped S&P -0.16%, Nasdaq -0.71%, Dow +56
Tech weakens as oil prices stay elevated
Trump calls Iran ceasefire “on life support”
Hot CPI keeps inflation concerns elevated
Today: PPI report expected at +0.5%
AI spending themes continue driving market outlook
EARNINGS
Nothing watched today. Full earnings calendar »
Navellier Warns:
This Could Leapfrog Elon's SpaceX IPO
Elon Musk will take SpaceX public at an estimated $1.75 trillion valuation. The IPO would include Elon's AI model, Grok.
But according to Louis Navellier, a radical new AI model will launch this year… over 1,000 times more powerful than Elon's. And the company behind it could outperform SpaceX in the process.
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HEADLINES
President Trump’s much-watched trip to China is now formally underway, as the president aims to deliver incremental progress on issues including tariffs, communication around AI, and China’s role in the war in Iran.
The Senate voted 51 to 45 to confirm Warsh to the Fed’s board of governors and then voted 51-45 to advance his nomination to replace Jerome Powell as Fed chair.
S&P 500, Nasdaq end lower as inflation, Iran tensions weigh (more)
Iran war energy shock squeezes US paychecks (more)
US posts smaller $215B budget surplus in April as tax refunds grow (more)
Global economy is 'bending, not breaking' amid Iran war (more)
Iran says it will ‘never bow’ as Trump rejects peace counteroffer (more)
US inflation jumps to 3.8%, the highest level in three years (more)
Markets raise odds of 2026 rate hike after hot inflation report (more)
US household debt ticks up to new all-time high as inflation continues to rise (more)
Copper rallies above $14,000 a ton, nearing fresh all-time high (more)
eBay flips the bird at GameStop CEO Ryan Cohen (more)
SpaceX eyes global spaceports as Starship ambitions grow ahead of IPO (more)
SpaceX, Google in orbital data center talks (more)
Hims & Hers plummets 13% after first-quarter loss (more)
Private credit funds mark investment values lower, filings show (more)
DEALFLOW
M+A | Investments
Bristol-Myers inks up to $15B licensing deal with Hengrui
Telenor sells stake in Internet-Of-Things business to Verdane
VC
Exaforce, an agentic security operations and modern SIEM platform, raised $125M in Series B funding
Havoc AI, a collaborative autonomy software and unmanned vehicles, raised $100M in Series A funding
Star Catcher Industries, Inc., a provider of space-based power grid infrastructure, raised $65M in Series A funding
Vapi, Inc., a developer of an API-native enterprise voice AI platform, raised $50M in Series B funding
Heaviside Industries, a defensetech startup, emerged from stealth with $28M in Series A funding
Knit Health, a developer of clinical intelligence AI software for healthcare systems, raised $11.6M in Seed funding
Rogue, a developer of high-protein chips and snacks formulated with active probiotics, raised $2.5M in pre-Seed funding
Boundary Labs International, Inc., a USBD verifiable institutional stablecoin protocol, raised $2M in pre-Seed funding
Coworked, an agentic AI project management platform for enterprises, raised $1.8M in funding
CRYPTO
BULLISH BITES
🤔 Who is, and isn’t, accompanying Trump to China.
📉 The Fed’s most powerful economic lever is losing its edge.
🧩 The New York Times is turning Wordle into an NBC game show.
🍽 A list of 100 best restaurants? For these marathon eaters, it’s a dare.
DAILY SHARES
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