News

Qualcomm (QCOM.O) shares continued to hit a record high, now up 12.6%.

The Dow Jones Index opened down 19.82 points, or 0.04%, at 49589.34 points on May 11 (Monday);The S&P 500 Index opened down 8.0 points on May 11 (Monday) 7 points, a decrease of 0.11%, to 7390.86 points;The Nasdaq Composite Index opened down 76.99 points, or 0.29%, to 26170.09 points on May 11 (Monday).

U.S. stocks opened, with the Dow Jones Industrial Average down 0.12%, the S&P 500 Index down 0.16%, and the Nasdaq Composite Index down 0.44%. AI chip stocks have diverged trends, with Qualcomm (QCOM.O) up nearly 6%, Intel (INTC.O) up nearly 5%, and Nvidia (NVDA.O) down 0.3%.

U.S. Central Command: Turned back 62 merchant ships during the blockade of the Strait of Hormuz.

Ed Yardeni, president and chief investment strategist of Yardeni Research: The S&P 500 is expected to rise above 8,000 points.

Officials from the Prime Minister's Office and Finance Ministry held consultations with the Reserve Bank of India on measures to limit losses from soaring oil prices.

Market news: India is considering measures to strengthen foreign exchange reserves, including restricting non-essential imports of gold and electronic products and increasing fuel prices.

Israeli Foreign Minister: Israel opposes EU ministers’ decision to impose sanctions on settlers in the West Bank.

- President Donald Trump rejected Iran’s counteroffer to the U.S. peace proposal yesterday, calling Tehran’s response “TOTALLY UNACCEPTABLE” in a Truth Social post.- Israeli Prime Minister Benjamin Netanyahu told CBS in a taped interview aired last night that the war was “not over, ” saying there’s “still nuclear material,enriched uranium that has to be taken out of Iran.”- The S&P 500 and Nasdaq Composite finished last week at record highs, both posting their longest weekly winning streaks since 2024.- Alphabet’s stock has climbed more than 160% in the last 12 months,making it the best performing trillion-dollar U.S. tech company in that period.

Qualcomm (QCOM.O) shares rose 9% premarket, after rising 23.8% in the previous week.

Hassett, director of the White House National Economic Council: He will not comment on the Fed interest rate issue.

S&P 500 and Nasdaq 100 futures extended their losses and are now down about 0.15% after news that Iran deployed submarines.

White House National Economic Council Director Hassett: Stocks performed well due to earnings surprises.

Mexico Central Bank Governor: The central bank remains vigilant about inflation.

Market News: The EU supports sanctions against violent Israeli settlers in the West Bank.

Market news: SoftBank CEO Masayoshi Son is negotiating a major data center project in France; related transactions may be announced this month.

Spanish energy technology company Turbo Energy S.A. is continuing to expand its artificial intelligence-driven smart energy platform in Chile.

Raytheon Technologies (RTX.N): has been selected to provide the SeaRAM close-in weapon system for Australia's new frigates. Under this arrangement, Raytheon will be responsible for supplying SeaRAM launchers and related technical services. Deliveries are expected to begin in late 2028.

Qualcomm (QCOM.O) U.S. stocks rose more than 7% before the market opened.

According to the Financial Times: Payroll tax rates across OECD countries have reached their highest level in a decade.