TheChek News Flow

Asian stocks recovered much of their decline as investors bought the dip after a pullback in the AI-driven rally that has been one of the market’s dominant themes this year. MSCI’s regional equity index trimmed earlier losses to trade little changed, holding near a record high. South Korea’s Kospi — a bellwether for AI investments — dropped 1.1%, recoverinfrom a drop of as much as 3.3% earlier. Contracts indicated European stocks to gain at the open. Nasdaq 100 Index futures also pared its earlier losses to fall 0.3%. Chinese technology stocks rose as Tencent Holdings Ltd. jumped 8.8%.  Brent crude pared some of Monday’s advance even as uncertainty over a US-Iran peace deal persisted. The commodity traded around $94.20 a barrel. That helped Treasuries edge higher as cheaper oil prices eased inflation pressures. Oil rose on Monday as US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu offered differing accounts of a call about the fighting in Lebanon, as the US struggled to get efforts toward a peace deal with Iran back on track. The conflicting accounts were the latest example of confusing signals on progress to end the war, now in its fourth month. Unbounded enthusiasm for the AI trade has propelled global equities to record highs, offsetting market volatility caused by tensions in the Middle East. While investors still see a path to a US-Iran agreement, fragile conditions in the Strait of Hormuz have kept energy prices in focus as a key driver of the near-term outlook for inflation and rates. Trump has regularly claimed that negotiations were advancing and close to reaching a deal as the ceasefire that began in April remained fragile. Iran disputed reports last week that an interim accord was close and on Monday said it would act with its proxies, dubbed the “Axis of Resistance,” against Israel if fighting in Lebanon continued. Elsewhere, the White House said it will reduce tariffs on agricultural equipment, such as combines and harvesters, in order to reduce costs for US farmers and manufacturers. Attention remained firmly on the AI rally and the demand for semiconductors.  The S&P 500 Index notched its eighth straight advance, its longest winning streak since May 2025.  The Philadelphia Stock Exchange Semiconductor Index, or SOX, is on pace for its best quarter ever after soaring about 70% in the past two months. Chips are the best-performing sector in the S&P 500 this year by a wide margin. In Asia, the yen was steady around 159.70 per dollar after Japanese Finance Minister Satsuki Katayama said authorities are ready to take steps as needed in the foreign exchange market. The comments came after the ministry disclosed the monthly intervention data on Friday.  Investors are also looking ahead to a fresh round of economic data, culminating in Friday’s May jobs report, for clues on the health of the US economy and the Fed’s policy path under new Chairman Kevin Warsh. US After Hours HPE +36.5% soaring on strong results and guidance; MCHP +10.4% on data center business update; CRDO -10.3% lower on earnings.

Macro :
- US Cuts Agricultural Equipment Tariffs Citing Rising Farm Costs

- Andrew Left Found Guilty in Case That Spooked Short Sellers

Keep an eye on :

- ABVX FP : Abivax Says Ulcerative Colitis Drug Met Goal in Late-Stage Trial

- ADEN SW : Japan FTC Probes Temp Agencies for Alleged Price-Fixing: Nikkei

- AD NA : Ahold ADRs Drop as Goldman Cuts to Neutral on US Challenges (1)

- AAPL US : Apple Readies Bill-Splitting Feature, Going Deeper Into Finance
- Anthropic IPO : Anthropic Confidentially Submits Draft IPO Filing to SEC

- ARM US : Memory Chip Supply Remains Constrained Across the Board: Arm CEO

- AVOL SW : Avolta Holder Richemont Offers About 7.3m Shares, Terms Show

- BARN SW : Barry Callebaut Targets 2%-4% Mid-Term Volume Growth

- BRK/A US : *BERKSHIRE HATHAWAY TO INVEST $10 BILLION IN ALPHABET

- BE US : Bloom CEO Has No Plans to Sell Shares After AI Investor Run-up

- BP/ LN : BP Backs Amanda Blanc to Lead Second Chair Search: FT

- CSG NA : CSG’s Federal Signs US Army Ammunition Deal

- EAGLES FH : Eagle Filters Group Offering of 37.7m Shares Prices

- ENGI FP : Engie Announces Signing of €1B Export Financing Facility

- GLEN LN : Colombia’s Cerrejon Coal Mine Halts Operations on Blockades

- GOOGL US : Alphabet to Raise $80 Billion in Equity Capital for AI Spending

- GOOGL US : Alphabet Offers Up to 6.75% Dividend on Mandatory Convert: Terms

- HIK LN : Hikma Pharmaceuticals to Invest $267m in Ohio Facilities

- KER FP : Kering Says Gianfranco D’Attis Named CEO of Alexander McQueen

- MGM US : *MGM WORTH $50-$55/SHARE BASED ON CAESARS M&A VALUATION: STIFEL

- NEX FP : Nexans Closes Purchase of Republic Wire in the U.S.

- NST US : Elliott Takes Stake in Miner Northern Star, Pushing for Review

- OPM FP : OPmobility to Build New Plant in Ohio

- CFR SW : Avolta Holder Richemont Offers About 7.3m Shares, Terms Show

- ROP SW : Roche Says FDA Accepts New Drug Application for Giredestrant

- ENR GY : Hallador Energy Buys 460 MW of Siemens Turbines for $350M

- SOI FP : Soitec, AT&S Austria Added to Stoxx Europe 600 Index