TL;DR

Boeing surges on $200B Qatar order; AMD, Super Micro rally on Saudi AI deals; VIX drops as tariff risks ease.

Highlights

• Boeing shares hit multi-month highs after Qatar Airways orders 160 jets in a $200B+ deal 1.
• AMD stock up 5% on $6B buyback and $10B Saudi AI chip contract; Super Micro surges 17% on $20B DataVolt AI partnership 25.
• VIX drops 28% in five days to near 18 as U.S.–China tariff risks ease; S&P 500 targets raised to 6,500 9.
• China suspends export controls on 28 U.S. entities for 90 days, pausing unreliable entity list for 17 6.
• OPEC+ output fell by 106,000 bpd in April; U.S. crude inventories rose 4M barrels, gasoline and distillates declined 34.
• Fed officials warn Trump tariffs could lift inflation and slow growth; policy seen as “moderately restrictive” 20.
• ECB increases dollar funding scrutiny on EU banks amid Trump policy and Fed swap line concerns 18.
• U.S. housing market weakens: 49 of 50 metros show softer prices; Phoenix and D.C. diverge 19.
• Gold falls 10% from all-time high to $3,184/oz, breaking below 200-DMA 17.
• eToro Nasdaq IPO jumps 34% on debut, raising $310M; strong crypto revenue growth noted 13.
• Affirm partners with Costco for BNPL on purchases up to $17,500, supporting Affirm’s post-earnings rally 15.
• Coinbase CEO urges stablecoin legislation; House Democrats probe Trump-linked crypto ventures 12.

Commentary

Aerospace and AI hardware names led U.S. market action today. Boeing rallied after Qatar Airways placed a record $200B+ jet order, providing a significant boost to the company’s backlog and U.S.–Qatar commercial ties 1. In tech, AMD and Super Micro Computer both saw outsized gains on the back of major Saudi AI infrastructure deals, highlighting robust international demand for U.S. chip and server suppliers 25. These moves underscore continued global investment in U.S. industrial and AI capacity.

Macro sentiment improved as the VIX dropped sharply—down 28% in five days—following a 90-day U.S.–China tariff truce 9. China’s suspension of export controls on 28 U.S. entities and a pause on the unreliable entity list eased trade risk, prompting S&P 500 target upgrades from major forecasters 69. However, Fed officials cautioned that renewed tariffs could lift inflation and slow growth, and the ECB’s increased scrutiny of EU banks’ dollar funding reflects ongoing cross-border financial risk, particularly if Fed swap lines become less reliable 2018.

Commodities were mixed: OPEC+ output fell in April, but U.S. crude inventories unexpectedly rose by 4M barrels, while gasoline and distillate draws point to firm end-user demand 34. Gold continued its retreat, down 10% from recent highs and breaking key technical support as risk appetite increased and demand faded 17.

U.S. housing data remains soft, with nearly all major metros seeing weaker price growth and transaction volumes, especially in Phoenix and Sun Belt markets 19. In fintech, eToro ’s strong Nasdaq debut and Affirm ’s new Costco partnership signal renewed interest in consumer finance and crypto-exposed platforms 1315. Meanwhile, regulatory focus on stablecoins and political scrutiny of Trump-linked crypto ventures remain in the background for digital asset markets 12.