Wall Street set for a winning week
Investors work on the New York Stock Exchange during morning trading on May 21, 2026 in New York.
Michael M. Santiago | Getty Images
Hello, I’m Leonie Kidd writing to you from London. Welcome to today’s edition of the Daily Open newsletter.
What a difference a week makes.
On Monday, this newsletter focused on the fact that stocks are showing signs of a chill in the bond market, with downward moves in major stock indexes as borrowing costs rise.
As we head into Friday, Wall Street looks set to finish the week in the green at record levels.
What you need to know today
Despite a volatile trading period amid bond market jitters over the past few days, it promises to be a profitable week for U.S. stocks.
Asia-Pacific markets are also trading higher as investors assess diplomatic efforts to reach a peace deal between the United States and Iran. But, oil prices These rates also increased with a Reuters report suggesting that Iran wants to keep enriched uranium within the country.
Meanwhile, President Donald Trump on Thursday said his administration was postponing the upcoming signing ceremony for his highly anticipated executive order on the artificial intelligence industry.
Trump told reporters in the Oval Office that the event, planned for Thursday afternoon, was postponed “because I didn’t like some aspects of it.”
Earnings season in Europe is coming to an end for luxury giants richemont One of the last companies to report. The high-end fashion house, which also includes the Cartier and Chloé brands, posted strong sales figures all year and launched a new buyback program.
Also shares in the field of beauty Estee Lauder Big gains are expected at Friday’s opening after the cosmetics giant announced that it has ended merger talks with Spanish rival Puig. A deal would value the group at almost $40 billion.
Travel stocks remain in the spotlight as the prolonged disruption in jet fuel supply chains continues to worry investors and travelers alike. China’s so-called “Big Three” airlines, Air China, China Eastern and China Southern Airlines, have suffered more than their rivals due to a lack of protection against fluctuations in fuel prices.
—Leonie Kidd
And finally…
Crypto brothers, scalpers and Logan Paul: In the Pokémon world where cards sell for millions
Pokémon card prices increased 282% from 2004 to 2020, according to the index compiled by Collectors, which owns card rating agency Professional Sports Authenticator (PSA). Since 2020, prices have increased by an incredible 1,350% according to the index.
Prices have risen and even outpaced traditional asset classes, attracting the attention of people looking to make a quick buck and ultra-high net worth individuals looking for investment assets to preserve or grow their wealth.
Market observers told CNBC that people making money from cryptocurrency are flocking to the market as prices reach unprecedented levels.
—Arjun Kharpal
