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Good morning! Here’s the latest in trending:
Data incoming: The May nonfarm payrolls report is due today and is likely to show solid – but slower – job growth.
SpaceX news: No, S&P won’t change its rules for SPCX. And here’s how you can invest in the IPO, starting with Fidelity.
AI outlook: Anthropic (ANTHRO) warns what may happen if AI builds itself. Meanwhile, bot web traffic overtakes humans.
Ukrainian President Volodymyr Zelenskyy has called for a face-to-face meeting with Russia’s Vladimir Putin to end hostilities and instate a ceasefire during the negotiations. “Enough of war,” Zelenskyy wrote in an open letter addressed to Putin.
Direct talks: “We see that the United States is fully focused on the issue of Iran, and it would be wrong to simply wait until the war in Europe returns to the center of its attention,” the Ukrainian leader stated in the letter. “Ukraine proposes ending this war through direct engagement between us — and you. Switzerland, Türkiye, the countries of the Arab world — many are able and willing to host such a meeting.” Zelenskyy said Europe — “those who truly have the capacity to influence the situation” — and the U.S. should be part of this process. He affirmed that Ukraine would continue fighting for its existence, but warned Putin of Russians’ growing fatigue with the war. “You, too, will have to fight much harder for your own existence — not Russia’s, but your own. It is a fact of Russian history that you know well: when Russia grows tired, change comes.”
Word from Russia: “There is no need to suspend the hostilities to start negotiations,” Putin told reporters on Thursday, while touting Russian troops’ advance in the war. “Naturally, the Ukrainian side would like us to halt our advances. But it would be better to end the war by agreeing to the compromises that were discussed in Anchorage,” Putin said. He was referring to his summit with U.S. President Donald Trump in Alaska last year, where he called for Ukraine to cede territory that Russia has largely occupied in the war and end efforts to join NATO. Ukraine has ruled out ceding the Donetsk, Kherson, Luhansk and Zaporizhzhia regions to Russia, saying this would embolden Moscow to invade again.
On the Hill: “I think it would be great if they met,” Trump told reporters in Washington after he was asked about Zelenskyy’s letter. “They should get it done. They’re both going to make compromises. I suggested those compromises and you know, we’ve had a lot to do with it.” Meanwhile, the U.S. House of Representatives voted 226 to 195 to pass the Ukraine Support Act. The legislation includes over $1B in aid, up to $8B for Ukraine’s defense through direct loans and new sanctions on Russia. The bill must be passed by the Senate, where its fate is uncertain as Trump’s allies could dash the measure. Even if it cleared the vote, the bill could still be vetoed by Trump.
Here’s the latest Seeking Alpha analysis
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What else is happening…
Quantinuum (QNT) ends flat in debut; IPO flags industry maturity.
Microsoft (MSFT) exec: Lower prices give its models an edge.
U.S. officials hold talks over government stakes in AI firms.
Trump uses wartime powers to revitalize U.S. coal industry.
JPMorgan drops bearish Tesla (TSLA) view, triples price target.
Boeing (BA) weighs 737 ramp-up to approach Airbus’ targets.
Strategy (MSTR) sees $10.8B paper loss; Saylor blames AI.
These banks are planning a new tokenized deposit network.
Texas probes Celsius (CELH) over Alani Nu after teen death.
Studies used by RFK Jr. to justify vaccine policy face scrutiny.
Today’s Markets
In Asia, Japan -1.3%. Hong Kong -1.2%. China -0.7%. India -0.2%.
In Europe, at midday, London +0.4%. Paris +0.5%. Frankfurt +0.3%.
Futures at 6:30, Dow +0.2%. S&P -0.4%. Nasdaq -0.8%. Crude -0.5% to $92.62. Gold -0.3% to $4,493.20. Bitcoin -0.5% to $62,382.
Ten-year Treasury Yield unchanged at 4.48%.
On The Calendar
Companies reporting today include Cerebras Systems (CBRS).
See the full earnings calendar on Seeking Alpha, as well as today’s economic calendar.
