The Nasdaq 100 eyes its longest daily win streak on record as tech giants rally. The index climbed for the eighth consecutive session today putting it within striking distance of an all-time record. AAPL Apple pushed edge AI with its M5 chip earning a BofA endorsement as a meaningful step forward.
MSFT Microsoft drew analyst attention on Azure capacity expansion and Copilot rollout momentum. The cloud giant led mega-cap strength alongside GOOGL Alphabet and AMZN Amazon. Internet stocks grabbed focus as AI infrastructure spending accelerated.
Oil sold off sharply reversing prior war premiums. XOM Exxon Mobil dropped Friday as crude retreated from recent highs. Iran declared the Strait of Hormuz completely open easing supply fears. Biodiesel prices fell below regular diesel for the first time as energy markets normalized.
SCHW Charles Schwab beat expectations triggering multiple analyst target hikes. First quarter results showed enough strength to support the broader rally. HD Home Depot climbed on consumer spending resilience.
CRVS Corvus Pharmaceuticals surged after Goldman Sachs called its oral eczema treatment a potential doubler. The biotech grabbed attention amid renewed pharma optimism. ILMN Illumina drew institutional buying as money manager Amy Raskin added shares on CNBC.
The EU plans its biggest relaxation of corporate merger rules in decades. European markets embraced mega M&A as regulatory barriers lowered. FT reported Wall Street banks began trading derivatives on Apollo and Ares private credit funds showing institutional appetite.
Goldman Sachs warned its deal pipeline shrank raising red flags for M&A prospects. Treasury demand concerns persisted as former Secretary Henry Paulson urged emergency planning if buyer appetite collapses.
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