Inflation shock returns – PPI explodes to 6% – Oil trades near 102 USD – Trump-China summit with Musk, Cook, and Huang generates tech fantasy – DAX reclaims 24,000 points – Merck raises forecast – Jenoptik soars to a new record high – EchoStar monetizes spectrum for 40 billion USD to SpaceX and AT&T – Nebius shocks with sevenfold increase in revenue – Micron storms the AI server market with 256 GB DDR5 module – Oklo receives NRC breakthrough for Aurora reactor – Alibaba impresses with cloud growth

USA & MACRO-ENVIRONMENT Wall Street operates in a highly sensitive environment between inflation concerns and geopolitical hopes Recent data on the US Producer Price Index puts noticeable pressure on the bond markets: The Producer Price Index rises by 6% year-on-year in April, exceeding all economist estimates captured in a Bloomberg survey. This is the strongest increase since 2022. The core rate, excluding food and energy, rises by 5.2% – the highest value in more than three years. A key driver is the oil price near 102 USD per barrel...