UAMY News & Events

The major averages were broadly lower near noon, giving back some of yesterday's gains as tech stocks lag, U.S. Treasury yields rise, and oil prices jump once again. A meeting between President Donald Trump and Chinese President Xi Jinping has ended, with investors concerned that the summit resulted in no major policy breakthroughs.Brent crude has pushed above $104 a barrel as the Iran conflict and ongoing Strait of Hormuz disruptions continue pressuring global energy supplies. Rising oil prices are now feeding into inflation expectations, transportation costs, and consumer spending concerns. Markets increasingly fear a stagflationary setup where inflation stays elevated even as economic growth slows.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Applied Materialsreportedand raised its 2026 equipment growth estimateFigmaprovided areport for Q1Gemini Space Stationannounced that Winklevoss Capital Fund made ainto the companyBlackstoneand CD&R are both in the early stages of exploring bids for Magnum Ice Cream,United States Antimonyreported2. WALL STREET CALLS:Arista Networksto Outperform at Raymond JamesRBCTexas Roadhouseon better beef prices, traffic growthCiscoto Buy at HSBC on stronger AI infrastructure momentumViking Holdingsto Equal Weight at Morgan StanleyFermito In Line at Evercore ISI3. AROUND THE WEB:As Metaprepares to lay off about 10% of its staff on May 20 as part of ongoing efficiency efforts and investment rebalancing, adding to prior rounds of layoffs, sources say morale is low, Wired reportsMore than 50 researchers and engineers have left xAI since the SpaceX acquisition via layoffs, firings, and voluntary departures, with many joining Meta and TML, The Information saysGoogleis planning to announce a new Gemini model at it's I/O conference, with the release expected to land around the class of OpenAI's GPT-5.5 and short of Anthropic's Mythos, Sources reportsStarbucksis undertaking another round of corporate restructuring, including about 300 U.S. job cuts and a review of its international corporate workforce, CNBC saysMicrosoftis rolling back internal use of Claude Code after strong adoption among developers, and plans to replace most licenses with GitHub Copilot CLI as part of a broader push to consolidate engineering workflows, Verge reports4. MOVERS:Globantrises afterRXOhigher after Stifelthe stock to BuyDexComgains after announcing aYork Space Systemslower afterand provided guidance for FY26DLocaland ARS Pharmaceuticalsfalls after5. EARNINGS/GUIDANCE:Datavault, with EPS and revenue higher year-over-yearRBC Bearingsand provided guidance for Q1Enveric Biosciences, with CEO Joseph Tucker commenting "Our progress in the first quarter of 2026 reflects continued execution against our core mission"aTyr Pharma, with CEO Sanjay Shukla commenting, "2026 is off to a productive start"Mako Mining, with EPS and revenue higher year-over-yearINDEXES:Near midday, the Dow was down 1.03%, or 515.34, to 49,548.12, the Nasdaq was down 1.34%, or 356.79, to 26,278.44, and the S&P 500 was down 1.05%, or 79.13, to 7,422.11.

Stock futures are down sharply this morning. Markets are under pressure as rising Treasury yields and surging oil prices finally appear to be interrupting the AI-driven rally. The 10-year Treasury yield climbed to roughly 4.54%, its highest level in nearly a year, while long-duration yields continue moving toward levels that many investors thought would require a recession or Fed tightening cycle to reach again. Markets are rapidly repricing expectations for interest rates after this week's hot consumer and producer price index reports.Brent crude has pushed above $104 a barrel as the Iran conflict and ongoing Strait of Hormuz disruptions continue pressuring global energy supplies. Rising oil prices are now feeding into inflation expectations, transportation costs, and consumer spending concerns. Markets increasingly fear a stagflationary setup where inflation stays elevated even as economic growth slows.The AI trade remains the market's dominant support underneath the surface, but there are signs that AI enthusiasm may struggle to fully offset macro pressure if yields continue rising. Gold and silver are pulling back sharply as rising real yields and a stronger dollar pressure precious metals.In pre-market trading, S&P 500 futures fell 1.20%, Nasdaq futures fell 1.72% and Dow futures fell 0.92%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Geminiup 36% after announcing that Winklevoss Capital Fund has made a $100M strategic investment into the company, at a price of $14 per share with consideration paid in bitcoinMagnum Ice Creamup 11% after ReutersBlackstone and CD&R are both in the early stages of exploring bids for the companyUP AFTER EARNINGS -Figmaup 8%PowerBankup 2%RBC Bearingsup 1%DOWN AFTER EARNINGS -ARS Pharmaceuticalsdown 12%Creative Realitiesdown 10%Datavaultdown 8%United States Antimonydown 8%Rumbledown 8%Arrive AIdown 6%LOWER -Cerebras Systemsdown 1% after surging yesterday in its debut as a public company

S&P 500 notched new record highs with its first close above 7,500 while Dow Industrials reclaimed the 50,000 level as Tech driven rally continued on Thursday.  The sector was by far the best performing area of the market, with positive sentiment rooted in blowout earnings overnight from Ciscoas well as fresh record highs from Nvidia.  The chipmaker was up over 4%, supported by reports that US cleared H200 chip sales to 10 China firms in a gesture of goodwill during President Trump's visit to Beijing.In the evening session, equity futures are little changed despite more good news for the Tech afterhours in the way of strong Q2 results and constructive commentary regarding the global build-out of AI computing infrastructure from Applied Materials.  In commodities, WTI Crude Oil is down for the 3rd straight session with a retreat below $98 per barrel as traders reacted to US pressure on China to persuade Iran to reopen the Strait of Hormuz.  Base metals rally over the first half of May is also stalling - Copper retreated below $6.60 per lb and Silver is down for the 3rd straight day below $85 per ounce.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Gemini Space Stationup 16.5%Figmaup 11.2%Boot Barnup 7.3%York Space Systemsup 6.3%Globant S.A.up 4.8%Celcuityup 2.2%Applied Materialsup 1.4%ALSO HIGHER -Papa John'sup 8.4% after Reuters report franchisee, Irth in buyout offer for chainDexComup 5.5% after announcing collaborating with Elliott Management on two new Board membersDOWN AFTER EARNINGS -United States Antimonydown 6.5%Nu Holdingsdown 6.0%Rumbledown 4.7%DLocal Limiteddown 4.0%