Alain’s Holdings
| Symbol | Name | Price | Change | Change % |
|---|---|---|---|---|
| VOO | Vanguard S&P 500 ETF | 679.52 | +1.48 | +0.22% |
| QQQ | Invesco QQQ Trust | 713.29 | +2.06 | +0.29% |
| XIU.TO | iShares S&P/TSX 60 ETF | 50.06 | -0.03 | -0.06% |
| VRT | Vertiv Holdings Co. | 367.92 | +27.95 | +8.22% |
Records Again — But Barely. Iran Kills the Peace Trade. Chips Carry the Market.
Monday delivered a seventh consecutive record close for the S&P 500 and Nasdaq — but the session felt more like treading water than marching higher. Iran rejected the U.S. peace memorandum, oil bounced back toward $98, and market breadth was deeply negative even as headline indexes ticked up. The chips were the only reason records held.
The S&P 500 gained 0.19% and closed at 7,412.84, while
the Nasdaq Composite inched up 0.10% to end at 26,274.13. Both indexes scored fresh all-time intraday highs during the session and closed at records. The Dow Jones Industrial Average advanced 95.31 points, or 0.19%, to 49,704.47. A rally in chipmakers left the S&P 500 at all-time highs, but most of the gauge’s shares fell — a classic sign of narrow, fragile breadth. TheStreetMorningstar
🕊️ Iran Rejects the Deal — Trump: Ceasefire “On Life Support”
President Trump on Monday said that what remains of the U.S. ceasefire with Iran is “on life support” after Tehran sent an “unacceptable” counter to Washington’s proposal to end the war. The state of the month-old truce is “unbelievably weak,” Trump told reporters in the Oval Office.
Iranian foreign ministry spokesperson Esmaeil Baghaei pushed back, calling Tehran’s proposals “generous” and “legitimate.” US crude rose back toward $98, with the near-halt of traffic through the Strait of Hormuz reigniting worries about more energy disruptions that would fuel inflation. The Treasury market, which has priced out the odds of Federal Reserve rate cuts this year amid the conflict, saw an increase in yields. TheStreetMSN
🔵 Intel Confirmed: The Apple Chip Deal Is Real
Apple and Intel have reached a preliminary agreement for Intel to manufacture some of the chips that power Apple’s devices, the Wall Street Journal confirmed. Intensive talks between the two companies have been underway for more than a year, and they hammered out a formal deal in recent months. It is still unclear which Apple products Intel would make chips for.
Intel gained 3.6% on the confirmation — extending last week’s 14% surge into a two-day rally of nearly 20%. The deal signals Apple’s push for supply chain resilience and a move away from sole reliance on TSMC for advanced chip production. For Intel, it’s a stunning validation of its troubled foundry turnaround — a business many had written off just 18 months ago. Yahoo Finance + 2
🦠 Hantavirus Outbreak Sparks Biotech Surge
Moderna shares spiked 7.5% after the biotech company said it had already been developing a hantavirus vaccine ahead of the outbreak aboard the cruise ship Hondius. An outbreak of the hantavirus caused a brief spike in the stocks of companies working to develop a vaccine. Pfizer also gained on the news as investors priced in a potential vaccine race. Public health officials confirmed several cases traced to a cruise ship in the North Atlantic — adding a new wildcard to an already complex macro picture. MSNTheStreet
📈 Yardeni Raises S&P Target to 8,250
The president of Yardeni Research and longtime market strategist Ed Yardeni hiked his year-end S&P 500 target to 8,250 from 7,700 — that’s 11.5% above Friday’s close of 7,398.93. “I’ve been bullish, but not bullish enough,” Yardeni told CNBC’s Squawk Box Monday. “The earnings estimates of analysts have been phenomenal. I’ve never seen anything like it.” — TheStreet
🏦 JPMorgan: “Equities at All-Time Highs Make Sense”
“We want to be in there for the equity bull market,” said Grace Peters of JPMorgan Private Bank. “But we do think that there’s still portfolio resilience that needs to be added.” JPMorgan’s endorsement of the record-high bull case came even as the bank cautioned clients to maintain diversification given the concentration risk in AI names. Morningstar
📊 Consumer Sentiment: Still Cautious
The University of Michigan’s consumer sentiment subindex for current economic conditions fell to 47.8% in May from 52.5% in April. Consumer expectations edged up slightly to 48.5%. The 1-year inflation outlook dipped to 4.5% from 4.7%, while the long-term 5-year inflation index edged down to 3.4% from 3.5%. Consumers are still feeling the squeeze of $4+ gas prices — even as Wall Street celebrates record highs. Yahoo Finance
🏆 Today’s Notable Winners
- 🟢 Intel (INTC) +3.6% — Apple chip deal confirmed by WSJ; 2-day gain approaches 20%
- 🟢 Lumentum (LITE) +16.5% — Added to the Nasdaq-100, replacing CoStar Group later this month MSN
- 🟢 Chevron (CVX) +1.51%, Merck (MRK) -0.10%, 3M (MMM) +0.05% — Led Dow gainers as defensive and energy plays benefited from oil’s bounce MSN
- 🟢 Nvidia, AMD, Qualcomm, Micron — Chips continued their AI supercycle run, holding the indexes aloft Charles Schwab
📉 Today’s Notable Losers TRADING ECONOMICS
- 🔴 The Trade Desk (TTD) -7% — Missed Wall Street earnings expectations and issued weaker-than-expected Q2 guidance; programmatic ad market showing cracks
- 🔴 Dollar General (DG) -7.64% — Soft fiscal 2026 guidance and a leadership transition announcement rattled investors; budget consumer stress is real MSN
- 🔴 W.W. Grainger (GWW) -0.5% — Profit-taking after hitting record highs last week; traders locked in gains aggressively MSN
- 🔴 Nike (NKE) -2.56%, Procter & Gamble (PG) -1.84%, Microsoft (MSFT) -1.28% — Consumer staples and software names slipped as oil-driven inflation fears resurfaced MSN
- 🔴 Disney (DIS) — FCC fast-tracked a rare review of Disney’s eight broadcast licenses, originally set for 2028, following controversial segments on “The View” and Jimmy Kimmel Live! — an unprecedented regulatory threat to its broadcast infrastructure Charles Schwab
- 🔴 Moderna (MRNA) 2.7% — Hantavirus vaccine already in development; cruise ship outbreak triggers biotech rush MSN
🔭 The Week Ahead: CPI Is Everything Bloomberg
Tuesday May 12 is the most anticipated day, with the April Consumer Price Index (CPI) release at 8:30 AM ET. Consensus calls for headline CPI to rise 0.6% month-over-month and 3.7% year-over-year, while core CPI is expected at 0.3% MoM and 2.7% YoY. If core CPI breaks above 0.3%, it signals that recent energy price gains are starting to bleed into non-energy categories — the scenario the Fed fears most.
Jerome Powell’s term as Fed Chair ends Friday, May 15. The U.S. Senate is expected to confirm Kevin Warsh as his successor this week. While Warsh is viewed as more open to rate cuts, the latest FOMC meeting showed three voters ready to dissent — a Fed rate cut still looks unlikely without significantly softer inflation data.
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