Reuters Morning Bid

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Week in Review: SpaceX shoots for the stars May 23, 2026

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Nvidia announced an $80 billion stock buyback and forecast a trillion dollars in AI chip sales — and markets shrugged. SpaceX filed for what could be the biggest IPO in history, promising Mars colonies and orbital data centers. Plus, bond markets finally price in the Iran war's inflation hit, with one analyst telling Reuters that U.S. Treasury yields now feel "unanchored."

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Read more from Amanda Cooper and Anna Szymanski

Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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NACHO time just yet May 22, 2026

Show notes

*This episode was updated to remove incorrect normal Strait of Hormuz traffic figures*

Oil traders are pushing back against the NACHO trade - "Not Any Chance Hormuz Opens" - sending Brent crude down around 6% on the week as positive signals emerge from U.S.-Iran talks. But differences over Iran’s uranium stockpiles and a toll on the Strait of Hormuz as well as President Trump's threat to resume bombing hangs over negotiations. Plus, Kevin Warsh is officially sworn in as Federal Reserve chair at the White House today.

Today’s recommended read: Can Wall Street boom soothe workers' pain?, Jamie McGeever

Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest

Read more from Amanda Cooper and Anna Szymanski

Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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Nvidia's big beat falls flat May 21, 2026

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Nvidia nearly doubled its earnings, forecast $91 billion in revenue above consensus, raised its dividend and announced an $80 billion buyback - and its shares still fell about 1%. SpaceX filed for its IPO with OpenAI is reportedly next. Plus, Reuters/Ipsos polling finds Republican voters evenly split on Trump's cost-of-living record, a notable marker heading into the midterms.

Today’s recommended read: 'True cost of living' could be Trump's biggest headache, Mike Dolan

Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest

Read more from Amanda Cooper and Anna Szymanski

Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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Nvidia's moment of truth May 20, 2026

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Nvidia's blockbuster earnings are widely anticipated, but with the stock already up around 20% this year and the bar set sky-high, markets are bracing for volatility either way. All of this plays out against a backdrop of U.S. inflation potentially heading above 4%, rising bond yields, and a looming potential strike at Samsung that raises fresh questions about labor's place in the AI economy.

Today’s recommended read: Bond yields may finally be baking in an AI world, Mike Dolan

Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest

Read more from Amanda Cooper and Anna Szymanski

Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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The name's bond May 19, 2026

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The 30-year U.S. Treasury bond yield remains above 5% even after President Trump says he called off planned strikes on Iran, with a Bank of America survey showing most fund managers expect it to climb toward 6%. NextEra's $67 billion bid for Dominion would create the third-largest U.S. energy company. And UK gilt yields edge lower after Labour leadership contender Andy Burnham signals he would stick with the government's existing fiscal rules.

Today’s recommended read: Warsh's arrival leaves long bonds without a safety net, Mike Dolan

Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest

Read more from Amanda Cooper and Anna Szymanski

Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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Yield pain, no gain May 18, 2026

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U.S. 30-year Treasury yields reach levels last seen before the 2008 financial crisis, rattling bond markets across the globe. Oil above $110 and sticky inflation add to the pressure as G7 finance chiefs meet in Paris, and markets await Nvidia earnings for the latest read on the AI spending surge.

Today’s recommended read: Opaque oil deals around Hormuz test the petrodollar, Ron Bousso

Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest

Read more from Amanda Cooper and Anna Szymanski

Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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Our Standards: The Thomson Reuters Trust Principles.

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Week Ahead: Nvidia’s moment May 17, 2026

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Nvidia's earnings this week are expected to confirm the AI boom's momentum, but questions linger over whether hyperscalers can sustain their massive capital spending. Meanwhile, U.S. mortgage rates near 6.5% and 30-year Treasury yields topping 5% for the first time since 2007 are raising alarms that the rates market is flashing warnings that stock markets appear to be ignoring.

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Week in Review: Beijing summit, price shocks and UK political jitters May 16, 2026

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U.S. President Donald Trump and Chinese President Xi Jinping met in Beijing, but markets had little to take away, with no breakthrough on the Strait of Hormuz. Meanwhile, U.S. inflation hit its highest levels since 2022 and 2023, complicating the path for incoming Fed Chair Kevin Warsh, and UK gilts came under pressure as a leadership challenge to Prime Minister Keir Starmer rattled sterling.

Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest.

Produced by Eliza Davis Beard, Ethan Plotkin, and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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Strait talk, little action May 15, 2026

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U.S. President Donald Trump flies home from Beijing after a two-day summit that delivered scant details on trade and no breakthrough on the Strait of Hormuz. Fed chair Jerome Powell's eight-year tenure ends today as Kevin Warsh inherits a divided committee. And UK Prime Minister Keir Starmer faces a mounting leadership challenge as Manchester Mayor Andy Burnham moves closer to a leadership run.

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Trump and Xi talk - markets wait May 14, 2026

Show notes

Day one of U.S. President Donald Trump's Beijing summit with Chinese President Xi Jinping produced more than two hours of talks and a roster of top CEOs, but no concrete trade or policy announcements. Meanwhile, U.S. producer prices post their steepest monthly rise in four years, 30-year Treasury yields topped 5% for the first time since 2007. And, Kevin Warsh was confirmed as Fed chair just as markets began pricing in rate hikes.

Today’s recommended read: Fed may have to hike to defend its credibility, Mike Dolan

Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest.

Produced by Eliza Davis Beard, Ethan Plotkin, and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

Visit the ⁠Thomson Reuters Privacy Statement⁠ for information on our privacy and data protection practices.

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