Highlights

• Trump administration to rescind Biden-era AI chip export curbs; Nvidia rallies 4%, lifting semiconductor sector 1.
• Arm Holdings reports record Q4 revenue but gives weak Q1 guidance; shares drop over 8% after hours 2.
• Stripe unveils AI payments model, launches stablecoin accounts in 101 countries, and highlights Nvidia migration 5.
• Strive Asset Management and Asset Entities merge to form $1B public Bitcoin treasury; ASST stock surges 500% 8.
• Barrick Gold , Occidental Petroleum , and APA beat Q1 earnings; APA announces $608M asset sale 6.
• Duke Energy beats Q1 estimates, driven by AI sector demand and strong retail sales; reaffirms 2025 EPS guidance 7.
• Brazil’s central bank raises Selic rate to 14.75%, the sixth hike in the cycle, citing inflation and global uncertainty 4.
• North Korea fires ballistic missile into East Sea, renewing geopolitical tensions in Northeast Asia 3.
• US approves Qatar’s $29M/month funding for Syrian public sector, enabling 400% salary increases for civil servants 9.
• Trump withdraws Nesheiwat as Surgeon General nominee, taps wellness doctor Casey Means; RFK Jr. launches pilot autism study using Medicaid/Medicare data 1011.
• Thumzup Media ups shelf offering to $500M to buy more Bitcoin for treasury 8.
• Vatican conclave’s first ballot fails to elect new pope; black smoke signals no decision 14.

Commentary

The after-hours session saw a decisive swing in tech sentiment, with the Trump administration’s rollback of AI chip export curbs sparking a 4% surge in Nvidia and a broad rally across the semiconductor sector 1. This move, which temporarily lifts complex restrictions on high-performance chip exports, is a clear win for U.S. chipmakers with global exposure, especially as they navigate a competitive AI landscape 1. However, Arm Holdings ’ post-earnings selloff—despite record Q4 results—underscores market sensitivity to forward guidance in AI-adjacent names, highlighting the sector’s high expectations and the need for sustained growth 2.

Stripe’s aggressive push into AI-driven payments and global stablecoin accounts signals further convergence between fintech, crypto, and traditional payments infrastructure 5. The Stripe-Nvidia partnership and the launch of stablecoin accounts in 101 countries could accelerate adoption of digital assets and lower transaction costs, with potential spillover effects for both fintech equities and crypto tokens 5. Meanwhile, the Strive-Asset Entities merger to form a $1B public Bitcoin treasury, alongside Thumzup’s upsized $500M shelf for Bitcoin purchases, points to growing institutionalization of Bitcoin as a corporate treasury asset—fueling both speculative flows and a new narrative for crypto equities 8.

Commodities and energy names delivered solid results, with Barrick Gold and Occidental Petroleum both beating Q1 expectations, supported by firm gold and oil prices 6. APA ’s asset sale and capex discipline at Occidental Petroleum suggest a cautious but constructive stance in the sector 6. Duke Energy ’s beat, driven by AI-related power demand, reinforces the narrative that the AI boom is rippling into traditional infrastructure and utilities, supporting defensive equity plays amid cyclical uncertainty 7.

On the macro front, Brazil’s central bank hiked rates to a 19-year high, reflecting persistent inflation and global policy uncertainty—particularly in response to U.S. trade policies 4. This move may support the real and attract yield-seeking flows to emerging markets, but also signals caution for risk assets sensitive to global liquidity 4. North Korea’s missile launch and renewed U.S. involvement in Syrian public sector funding add to geopolitical noise, but are unlikely to drive immediate risk-off unless tensions escalate further 39.

Traders should watch for continued rotation within tech—especially semis and AI infrastructure—on the back of U.S. policy shifts, while monitoring crypto-related equities for volatility tied to treasury adoption headlines 18. Commodities and energy remain supported by earnings momentum, but defensive positioning in utilities and select EM assets may offer ballast as global policy and geopolitical risks remain fluid 674. Expect further headlines from the Vatican and U.S. health policy, but market impact should be limited barring major surprises 141011.