Finance

NVIDIA's market capitalization expanded to approximately $5.7 trillion as semiconductor stocks continued to lead the broader market rally. The sector's momentum was further bolstered by the successful public debut of AI chipmaker Cerebras, which saw its valuation jump to $95 billion after shares surged nearly 70% in their first day of trading.

Brent crude oil prices climbed past $111 per barrel as supply concerns intensified due to ongoing geopolitical conflicts and a tightening of global flows. These rising energy costs contributed to a 3.8% annual inflation reading in April, leading major financial institutions like Goldman Sachs to delay their expectations for potential interest rate cuts.

May 15 marks the final day of Jerome Powell's tenure as Federal Reserve chair, with Kevin Warsh expected to assume the leadership role. This transition occurs at a critical juncture as the central bank navigates a 'wait-and-see' approach toward rising consumer prices and the systemic risks posed by the current global oil shock.