WS #7289

The dominant signal in this window is the Trump-Xi summit, with multiple corroborating reports: Trump stated China agreed to buy 200 Boeing jets (BA), and Nvidia CEO Jensen Huang called it 'one of the most important summits in human history.' This is bullish for BA and NVDA, and supports the broader tech/China trade narrative. Separately, the Cerebras IPO (CBRS) is showing strong demand, with the IPO priced at $185 and indicating open at $325 (+76%), signaling robust AI chip demand. On the geopolitical front, Russia launched a massive two-day drone/missile attack on Ukraine, killing civilians, which undermines peace talk narratives and keeps energy/defense in focus. The US crypto market structure bill (Clarity Act) is advancing but remains partisan, with senators still at odds. Meta plans to lay off ~8,000 employees on May 20, adding to negative sentiment around META. The Hindenburg Omen flashed on both NYSE and Nasdaq, a technical warning of potential instability. Oil prices remain elevated with WTI ~$100.6 and Brent ~$105, supported by Iran crisis and US-China oil trade discussions. The dollar's link to oil is at its most positive ever per Bloomberg. Latvia's government collapsed after drone incidents near an oil facility. US authorities are moving to dismiss fraud cases against Gautam Adani. Overall, the narrative is ESCALATING around the Trump-Xi summit (positive for trade-sensitive sectors) and Russia-Ukraine conflict (negative for risk appetite, positive for energy/defense).