Good morning.
The Fast Five → Nvidia is set to report earnings, bond yields near two-decade high open rift among investors, Vance defends Trump’s stock-trading spree, Bessent urges more disruption to Iran's financing, and Google unveils biggest update to Search in 25 years…
📌 Emmy-winning analyst releases his next big story — Whitney Tilson shocked the nation on 60 Minutes when he accused a major company of poisoning its customers. The investigation won an Emmy and the stock fell nearly 80%. (He also called the housing crisis and collapse of Bear Stearns and Lehman Brothers). Now, he's releasing his next big story. He says a dangerous pattern is forming, and most Americans have no idea how exposed they really are. For the full presentation, go here »
(a message from Stansberry Research)
Calendar: Full Calendar »
Today:
FOMC Meeting Minutes, 2:00P
Tomorrow:
Unemployment Claims, 8:30A
Flash Manufacturing PMI, 9:45A
Flash Services PMI, 9:45A
Your 5-minute briefing for Wednesday, May 20:
BEFORE THE OPEN
As of market close 5/19/2026.
Pre-Market:
US Investor % Bullish Sentiment:
↑ 39.32% for Week of MAY 14 2026
Previous week: 38.31%
Market Wrap:
Futures flat S&P +0.1%, Nasdaq +0.1%, Dow +41
S&P and Nasdaq posted third straight losing session
Rising Treasury yields continue pressuring stocks
30-year Treasury yield tops 5.19%, highest in years
Nvidia earnings expected to drive AI trade sentiment
Nvidia responsible for roughly 20% of S&P gains this year
Fed meeting minutes and major retail earnings ahead
EARNINGS
Here’s what we’re watching this week:
Today: e.l.f. Beauty $ELF ( ▼ 4.27% ), *Lowe’s $LOW ( ▲ 1.23% ), *Target $TGT ( ▼ 3.86% ), *TJX $TJX ( ▲ 5.66% )
Nvidia $NVDA ( ▲ 1.3% ) - earnings of $1.78 per share on $78.98B revenue
THU: Ross Stores $ROST ( ▲ 2.4% )
Walmart $WMT ( ▼ 2.5% ) - EPS of $.66 (+8.2% YoY) on $174.62B revenue (+6.5% YoY)
Guess Which Tech Stock is About to Crash Next? —
No one believed Whitney Tilson when he predicted the collapse of Bear Stearns and Lehman Brothers.
Or when he went on 60 Minutes exposing a company of poisoning its own customers. (The stock fell nearly 80%.)
Now he has a new warning about what's REALLY around the corner for America's most beloved tech companies.
- a sponsored message from Stansberry Research -
HEADLINES
AI heavyweight Nvidia (NVDA) will report its first quarter results on May 20, in what is easily one of the most anticipated announcements of the earnings season.
A surge in longer-maturity US Treasury yields is testing the resolve of global bond investors torn between the possibility of locking in the rates near the highest levels in decades and the risk of an even greater selloff.
Stocks fall further from their records after bond markets crank up pressure (more)
Vance defends stock-trading spree in Trump financial filings (more)
Bessent urges more disruption to Iran's financing (more)
Trump tells Fed to consider fintech access to payment accounts (more)
SEC announces new rules to "make IPOs great again" (more)
Biggest US wind project is due to come online next month (more)
Gold declines as inflation fears fuel interest rate hike bets (more)
Inflation fears and Iran uncertainty lift the dollar (more)
Mortgage rates surge to highest level since July (more)
Goldman Sachs set to be named lead left underwriter for SpaceX IPO (more)
Google unveils biggest update to Search in 25 years (more)
Google gives first glimpse of new AI glasses ahead of fall launch (more)
Anthropic hires OpenAI co-founder Andrej Karpathy, former Tesla AI leader (more)
CEOs are stressed out (more)
Former FTX exec launches a ‘no loss’ AI trading platform (more)
DEALFLOW
M+A | Investments
SpaceX is planning to buy startup Cursor 30 days after IPO
Analog Devices to buy Empower Semiconductor for $1.5B
Rasa Legal receives $1M investment from NextLadder Ventures
Clone Labs receives investment from NAVER D2SF
Two Dice receives investment from Oak View Group
VC
Armada, an AI company developing an edge computing and satellite platform, raised $230M in Series B funding
Radar, a retail intelligence platform provider, raised $170M in Seres B funding
Nourish, a dietitian-led metabolic health clinic, raised $100M in Series C funding
Relay Financial Technologies, Inc., a small business banking services and a money management platform, raised $50M in funding
Brami, an Italian food brand developing protein pasta products, raised $33M in Series B funding
Vital Signals, a health company that supports blood pressure and hypertension, raised $15M in funding
Hellbender, an AI infrastructure company empowering intelligent systems at the edge, raised $12.5M in Seed funding
Eisen, an AI-enabled compliance operations infrastructure for financial services, raised $10M in Series A funding
Kin Health, a company developing a free app that allows patients to act upon doctors’ advice, raised $9M in Seed funding
Benji, a universal API for loyalty partnerships, raised $6.25M in Seed funding
Violet Therapeutics, a preclinical-stage biotech company, raised $4.75M in Seed extension funding
Rely, an AI-native platform for multifamily transaction diligence, raised $4.5M in Seed funding
Leadbay, a B2B AI prospecting platform, raised $4.3M in Seed funding
B-SIDES, a snack brand, closed a $500k Seed funding round
Aquanta Vision, a methane detection company, raised a pre-Seed funding round of undisclosed amount
CRYPTO
BULLISH BITES
📈 See how Trump’s shadow stock markets could crowd out the real thing.
🐻 A hedge fund run by a former OpenAI researcher places huge bearish bets against the top AI chip makers.
📊 The digital casinos need pit bosses.
🍴 Meet the sad wives of AI.
DAILY SHARES
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