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A preliminary deal to end the US-Israel war on Iran has caused oil prices to drop to a three-month low, with hopes of the Strait of Hormuz reopening. However, experts predict it could take months, possibly over a year, for global oil inventories to recover and for consumers to see significant relief at the pump.
Xbox is reportedly planning to shut down or sell at least three of its game studios: Ninja Theory, Double Fine, and Compulsion Games. Employees at Ninja Theory were informed of a potential closure, while Double Fine and Compulsion are negotiating buyouts or facing shutdown.
China's economy shows a divergence, with AI-driven chip demand boosting exports and some inflation, while a deepening real estate slump and sluggish consumer spending persist. Investors await May figures, with economists predicting broad stagnation and potential GDP downgrades.
Nvidia plans to raise at least $20 billion in debt, its first bond sale since the AI boom began. The chipmaker's filing with the SEC disclosed the capital raise, with sources suggesting the amount could reach $25 billion. This move follows similar large debt and equity offerings from other tech giants like Alphabet and Amazon.
Oil prices dropped significantly following a provisional peace deal between the US and Iran, potentially opening the Strait of Hormuz. Gas prices are expected to decrease, offering relief to US consumers who have faced soaring costs since the war began on February 28.
SpaceX shares surged 20% on Monday, following a record IPO debut. The company's market cap exceeded $2 trillion, with Elon Musk projecting $1 trillion revenue by 2030. However, analysts are divided, with some citing "extremely ambitious growth strategy" and "elevated valuation expectations" as reasons for concern.
