Overnight US stocks | The S&P 500 and Nasdaq both fell for two consecutive days, with Micron Technology, Inc. (MU.US) dropping nearly 6%.

On Monday, the three major indexes had mixed performance, with the S&P 500 and the Nasdaq closing lower for the second consecutive trading day. Investors will welcome a number of earnings reports this week, including NVIDIA Corporation (NVDA.US) and Walmart Inc. (WMT.US). In the US stock market, the Dow Jones rose by 159.95 points, or 0.32%, to close at 49686.12 points. The Nasdaq fell by 134.41 points, or 0.51%, to close at 26090.73 points. The S&P 500 index dropped by 5.45 points, or 0.07%, to close at 7403.05 points. NVIDIA Corporation (NVDA.US) fell by 1%, Micron Technology, Inc. (MU.US) dropped by nearly 6%, and Tesla, Inc. (TSLA.US) fell by almost 3%. The Nasdaq China Golden Dragon Index closed down by 0.7%, with Li Auto, Inc. Sponsored ADR Class A (LI.US) dropping by nearly 10%. In Europe, the German DAX30 index rose by 366.31 points, or 1.53%, to close at 24321.50 points. The UK FTSE 100 index rose by 128.83 points, or 1.26%, to close at 10324.20 points. The French CAC40 index rose by 34.94 points, or 0.44%, to close at 7987.49 points. The Euro Stoxx 50 index rose by 30.75 points, or 0.53%, to close at 5854.25 points. The Spanish IBEX35 index rose by 167.10 points, or 0.95%, to close at 17759.70 points. The Italian FTSE MIB index dropped by 475.97 points, or 0.97%, to close at 48640.50 points. In the Asian stock market, the Nikkei 225 index fell by 0.97%, the KOSPI index rose by 0.31%, the Sensex index in India rose by 0.1%, and the Straits Times index rose by 0.15%. The US dollar index, which measures the USD against six major currencies, fell by 0.09% to close at 99.192 in the currency market. At the closing of the New York currency market, 1 Euro exchanged for 1.1637 USD, higher than the previous trading day at 1.1630 USD; 1 Pound exchanged for 1.3411 USD, higher than the previous trading day at 1.3332 USD. 1 USD exchanged for 159.01 Yen, higher than the previous trading day at 158.68 Yen; 1 USD exchanged for 0.7856 Swiss Franc, lower than the previous trading day at 0.7865 Swiss Franc; 1 USD exchanged for 1.3749 Canadian Dollar, higher than the previous trading day at 1.3739 Canadian Dollar; 1 USD exchanged for 9.4093 Swedish Krona, lower than the previous trading day at 9.4374 Swedish Krona. Bitcoin briefly fell below $77,000, reaching a low of $76,051.01, while Ethereum dropped to a low of $2,077.80. In the oil market, international oil prices significantly rose on the 18th. By the close of the day, light crude oil futures for June delivery on the New York Mercantile Exchange rose by $3.24 to close at $108.66 per barrel, an increase of 3.07%. Brent crude oil futures for July delivery rose by $2.84 to close at $112.10 per barrel, an increase of 2.6%. In the precious metals market, spot gold briefly fell below $4500, but erased all losses by the close, trading at $4566.27 per ounce, while spot silver was at $77.68 per ounce. In macro news, President Trump says Middle East allies requested delay in Iran strike to facilitate agreement. President Trump stated that if his Middle Eastern allies are satisfied with the terms of an agreement, the US may also be content with a diplomatic solution with Iran. However, he reiterated that the primary condition is still a total ban on Iran possessing nuclear weapons. Trump announced he agreed to postpone the large-scale military strike scheduled for Tuesday after receiving direct requests from leaders of Saudi Arabia, Qatar, and the UAE, as they believed they were close to reaching an agreement. Trump explained that these countries requested a short window of two to three days as they felt they were close to reaching a deal, prompting him to temporarily delay the strike to achieve a lasting diplomatic breakthrough. Trump to officiate Kevin Warsh's swearing-in ceremony at the White House, echoing Greenspan moment. White House officials revealed that Trump will preside over the swearing-in ceremony for the incoming Federal Reserve Chairman Kevin Warsh at the White House on Friday. This ceremony highlights Trump's high regard for this appointment. Trump nominated Powell to lead the Fed during his first term in 2018, and the swearing-in ceremony took place at the Fed, with Trump not in attendance. The last Fed Chair to be sworn in at the White House was Greenspan in 1987, with subsequent ceremonies held at the Fed. The last President to attend such a ceremony was George W. Bush, who attended Bernanke's swearing-in ceremony in 2006. Warsh was sworn in as a Fed Governor at the Eisenhower Executive Office Building later that year. This Friday's swearing-in ceremony will mark the end of an unusually prolonged transition for the Fed leadership. US homebuilder confidence rises due to significant increase in late spring demand. Despite pressure from higher mortgage rates, rising oil prices, and ongoing economic uncertainty due to the conflict with Iran, these factors continue to strain potential homebuyers. However, US builders are slightly optimistic about their business conditions and expect a wave of growth in late spring. After a sharp decline in April, the National Association of Home Builders (NAHB) housing market index for single-family homes rose by 3 points to 37 in May. However, a reading below 50 is considered a reflection of pessimism in the market. Robert Dietz, the chief economist of the association, said, "Recent increases in long-term rates will continue to suppress housing demand. While some regions, including parts of the Midwest, show relatively robust market conditions, the housing market still faces serious affordability challenges." Japanese officials question selling US bonds to support the yen operation, fearing intervention may have unintended consequences. A senior official at the Japanese Ministry of Finance expressed doubts about any idea of selling US bonds to support the yen, suggesting that such an operation could ultimately backfire. The official stated that authorities are cautious about the risks of selling US bonds they hold, as it may cause US bond yields to rise, leading to a depreciation of the yen. The official said on Monday in Paris that Japan has ample cash and deposits to intervene when needed. US Treasury Secretary Janet Yellen visited Tokyo last week, with both sides showing solidarity during the visit. Yellen stated that the 10-year US Treasury yield is a key financial indicator for her to monitor the US economy and reached an agreement with the Japanese side that excessive currency market volatility is undesirable. According to data released earlier this month, Japan's foreign exchange reserves stood at $1.17 trillion as of the end of April. Japan's holdings of US bonds decreased by about $48 billion compared to the previous month in March, but some of the reductions were due to valuation changes. In individual stock news, a judge dismisses Tesla, Inc. (TSLA.US) CEO Musk's lawsuit against OpenAI and its CEO Altman. OpenAI and its CEO Altman were determined by a US jury not to be liable for any responsibility to Elon Musk, as Musk filed the lawsuit too late. The jury found that Musk's claims of OpenAI deviating from its "charitable mission" had exceeded the legal statute of limitations and therefore did not constitute actionable items. Previously, Elon Musk accused OpenAI under Altman's leadership of betraying its mission to benefit the public and becoming a for-profit entity. Apple Inc. iOS 27 will introduce AI writing and new shortcut features. Apple Inc. (AAPL.US) is preparing a range of AI features for its next generation iPhone and iPad operating systems, including a grammar checker and new shortcut options to narrow the gap in functionality with rival devices. These features are planned to be included in iOS 27 and iPad OS 27, according to sources. The new features include AI-driven writing tools, the ability to create system-level shortcuts through natural language, and custom wallpaper generation, among others. Apple Inc. is expected to release the new operating systems at the Worldwide Developers Conference (WWDC) in June and officially to the public in September. SpaceX officially launches "1 for 5" stock split plan. SpaceX has formally informed investors of its stock split plan of 1 share split into 5 shares, which will lower the IPO price for its upcoming public listing. Sources revealed that the company has notified all shareholders by email that after the stock split, the fair market value per share will be reduced from the previous $526.59 to around $105.32. This stock split is set to begin during the week of May 18 and is expected to be completed by May 22. According to reports from last Friday, SpaceX is likely to formally submit the long-awaited IPO application to go public this Wednesday.