Taiwan Warns of Rise in Chinese Military Activity Around Region
Taiwan said China escalated military pressure around the region in May, deploying dozens of warships and government vessels daily in what it described as an extreme pressure campaign.
China sent an average of 50 to 70 vessels per day across the first island chain — a key strategic arc stretching from Japan through Taiwan and the Philippines — between May 1 and 27, said a senior Taiwanese security official, who asked not to be identified, citing government protocol.
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US stocks climbed on Tuesday as upbeat economic data helped counter concerns raised by the OECD about the potential economic harm from President Trump's tariffs. The S&P 500 (^GSPC) closed up 0.6%, while the Dow Jones Industrial Average (^DJI) added roughly 0.5%. The tech-heavy Nasdaq Composite (^IXIC) eased off session highs but still climbed around 0.8% to build on the major indexes strong start to the week. Small caps also saw a boost with the Russell 2000 (^RUT) rising aboout 1.5%. Meanwhile, Nvidia (NVDA) overtook Microsoft (MSFT) on Tuesday to become the world's most valuable company, with the AI chipmaker's market capitalization climbing to $3.444 trillion to surpass Microsoft's $3.441 trillion. A JOLTS update showed that job openings unexpectedly rose in April as tariff hikes took effect. The hiring rate also rose, signaling the jobs market remains in a stable position. With 7.39 million jobs open at the end of the month, the report sets the stage for the all-important May jobs report, which is set for release on Friday. Earlier on Tuesday, OECD slashed its outlook for global economic growth, citing the impact of Trump's trade policy on investment and confidence. The US economy will slow particularly sharply, the OECD forecast, going from 2.8% growth last year to only 1.6% this year and 1.5% in 2026. In another sign of trade war taking a toll, China's manufacturers suffered their worst slump since 2022 in May. Tariff hikes had an impact on smaller exporters despite the US-China trade truce, a private survey found. Read more: The latest on Trump's tariffs Countries need to act fast to seal deals to lower trade barriers, the OECD urged. Trump is reportedly pushing trade partners for their "best offers" by Wednesday, as deadlines for the implementation of "reciprocal" tariffs loom. But progress in trade talks with key nations seems to have stalled as US-China tensions simmer amid hopes for a call between Trump and President Xi as soon as this week. Stocks continued their climb on Tuesday, with all major indexes notching gains. The S&P 500 (^GSPC) rose 0.6%, while the Dow (^DJI) added about 0.5%. The Nasdaq (^IXIC) also pushed higher, gaining roughly 0.8% despite easing from its session highs as momentum carried over from a strong start to the week. Smaller companies joined the rally, with the Russell 2000 (^RUT) jumping around 1.5%. In a major milestone, Nvidia (NVDA) officially became the world's most valuable company, surpassing Microsoft (MSFT). The AI powerhouse ended the day at $3.444 trillion, narrowly overtaking Microsoft's $3.441 trillion. Yahoo Finance's Laura Bratton reports: Read more here. In the latest instance that headline labor market data isn't flashing massive warning signs, job openings surprisingly increased in April. New data from the Bureau of Labor Statistics released Tuesday showed 7.39 million jobs open at the end of April, an increase from the 7.2 million seen the month prior. But as we've been highlighting, one feature of the currently stagnant labor market is that some sectors are clearly taking the brunt of the labor market cooling. Our Chart of the Day breaks down the hiring and quits rate by sector. There are two key callouts here. For one, the information sector, which includes a variety of tech jobs, continues to see hiring below the national average. Workers' willingness to quit their jobs also lagged the national norm. Also within the chart, there's a clear impact from Department of Government Efficiency (DOGE) layoffs and tariffs. From March to April of this year, when many of the tariffs began, the quits rate for wholesale trade workers fell from 1.5% to 1.1%. In retail trade that number fell from 3% to 2.5%, as workers in areas directly impacted by tariffs have been less willing to quit their jobs. Similarly, the federal government boasts the lowest hiring rate among the sectors at 1%, down from the 1.2% seen the year prior. To be clear, none of the numbers seems to be rapidly deteriorating. But a close look at the chart does help show that the policy uncertainty is clearly having an impact on at least certain areas of the labor market. As media giants grapple with rising interest rates, regulatory pressure, and tariff uncertainty, consolidation is on pause — at least for now. Starz sees opportunity in the chaos. The newly independent premium cable and streaming network is positioning itself to potentially acquire distressed assets and provide tech support to traditional players caught flat-footed by the streaming revolution. "There'll be a great shedding first, and then there'll be a reconnecting of other things," Starz CEO Jeff Hirsch told Yahoo Finance on Monday. He pointed to a period of strategic soul-searching across the industry. "A lot of folks are inward-looking and trying to figure out who they are and what they do well." "Once they figure that out, then I think they'll shed assets," the head of the Colorado-based company added. It's been a turbulent time for legacy media, which has heavily invested in expensive streaming endeavors amid the mass exodus of pay TV consumers. Prior to the cord-cutting phenomenon, linear advertising and cable affiliate fees had consistently boosted revenues. But as ad buyers now flee traditional TV channels in favor of digital options like streaming, companies are beginning to realize they may never realize those economics again. These pressures have resulted in waves of layoffs across the industry as companies double down on streaming through newly launched ad-supported tiers, bundled offerings, and price hikes. That has triggered a broader recalibration of portfolio strategy and, according to Hirsch, is setting the stage for a sweeping wave of divestitures across the industry. Read more here. Elon Musk is targeting the GOP spending bill, calling it a "disgusting abomination." "I'm sorry, but I just can't stand it anymore," Musk wrote Tuesday in a blistering post on X. "This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it." He added: "It will massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden American citizens with crushingly unsustainable debt." Musk officially left the White House last week after completing his work as the head of the Department of Government Efficiency (DOGE). Musk's brief 130-day tenure was defined by sweeping cost reductions, mounting legal hurdles, and intense political scrutiny. It's unclear The administration is asking Congress to sign off on a $9.4 billion package to confirm DOGE's past budget cuts and cement its cost-cutting efforts. Read more here. Yahoo Finance's Ben Werschkul reports: Read more here. Stocks steadily rose on Tuesday as positive JOLTS data pointed to a stable labor market ahead of Friday's crucial jobs report. In sector action, Energy (XLE) led the gains, followed by Tech (XLK) and Consumer Discretionary (XLY). Real Estate (XLRE) and Consumer Staples (XLP) traded in the red, off around 0.5%, while Financials (XLF) were little changed. Dollar General (DG) led the S&P 500 on Tuesday after posting record first quarter sales. Cost-conscious consumers have flocked to discount retailers amid an uncertain economic backdrop. Ford (F) stock rose more than 2% on Tuesday afternoon after reporting that sales jumped 16.3% in May to just under 221,000 units. It marked the automaker's best May since 2019 and the third straight month of sales gains, Yahoo Finance's Pras Subramanian reported. Ford's sales were likely boosted by a price-cut promotion that the automaker implemented to counteract the potential for slower demand under President Trump's tariffs. As a result, Ford likely took market share from rivals GM (GM) and Stellantis (STLA), which didn't offer similar discount plans. It remains to be seen how long Ford can sustain this level of discounting as pre-tariff hike inventories dwindle. Meanwhile, Pras reports that Toyota (TM) also reported a sales increase of 6.8% in May to 240,176 units, led by gains in its car and truck segments. And Korean automaker Hyundai (HYMTF) reported sales rose 8% to 84,521 units, while Kia ( sales jumped 5% to 79,007 units. Read more here. The bond market is caught in a tug-of-war between pro-growth stimulus and inflationary pressures, leaving investors with few clear signals and rising long-term yields. "We have policies that on the one hand will boost growth like expansive fiscal stimulus," Kathy Jones, chief fixed income strategist at Charles Schwab, told Yahoo Finance. "Then we have some that will slow growth, like tariffs. ... So the bond market is just caught in the middle." Long-term Treasury yields have climbed in recent weeks, driven by concerns over the US fiscal trajectory as President Trump's sweeping tax legislation, estimated to add $4 trillion to the national debt over the next decade, heads to the Senate after clearing the House. Trump has vowed to sign the bill into law by July 4. "We haven't seen this for decades," Jones said, pointing to the recent bond market moves as a reflection of "a lot of worries and uncertainty." "I've been doing this a long time," she added. "And we haven't worried about the 30-year for a very long time." Read more here. Job openings unexpectedly rose in April after hovering near a four-year low the month prior. New data from the Bureau of Labor Statistics showed 7.39 million jobs open at the end of April, an increase from 7.2 million in March. The data comes as investors closely watch for any signs that economic growth may be slowing further. The March figure was revised higher from the 7.19 million open jobs initially reported. Economists surveyed by Bloomberg had expected Tuesday's report to show 7.1 million openings in March. The April survey included data from the first month that the most severe versions of President Trump's tariffs were in effect. The Job Openings and Labor Turnover Survey (JOLTS) also showed that 5.57 million hires were made during the month, up slightly from the 5.4 million made during March. The hiring rate ticked up to 3.5% from 3.4% prior. In one sign that workers may become more cautious about labor market conditions, the quits rate, a sign of confidence among workers, moved down slightly to 2% from 2.1% in March. US stocks wavered on Tuesday as investors await more updates on President Trump's tariffs. The S&P 500 (^GSPC) traded near the flat line while the Dow Jones Industrial Average (^DJI) fell about 0.1%. The tech-heavy Nasdaq Composite (^IXIC) was little changed on the heels of an upbeat start to the week for the major gauges. Here are some top stocks trending on Yahoo Finance this morning: Applied Digital (APLD) stock added 8% in premarket trading to a whopping 48% gain on Monday after announcing it signed two long-term lease agreements with Nvidia-backed CoreWeave (CRWV) for AI data centers. CoreWeave also rose 4% premarket. Constellation Energy (CEG) jumped 11% after the energy company secured a 20-year nuclear power purchase agreement from Meta (META). The deal also boosted other nuclear stocks, including Vistra (VST) (up 5%) and Oklo (OKLO) (up 6%). Scroll down to read more about Constellation's deal. Dollar General (DG) stock surged 11% on better-than-expected earnings and a raised annual forecast. The discount retailer is expected to be resilient in a weaker economic environment. Pinterest (PINS) shares gained nearly 4% after JPMorgan upgraded its rating on the stock to Outperform from Neutral. The JPMorgan analysts also raised their price target on the stock to $40 (from $35 previously), citing improving user numbers and ad technology. Check out more trending tickers here. Constellation Energy (CEG) stock surged more than 12% in premarket trading following news that it struck a 20-year power purchase agreement (PPA) with Meta (META). Meta stock was roughly unchanged. Starting in June 2027, Meta will buy 1,121 megawatts of energy from Constellation's Clinton nuclear facility in Illinois, powering its AI ambitions while supporting its clean energy goals, a release stated. The Clinton Clean Energy Center was nearly retired in 2017 after financial losses, but a state clean energy program kept the facility operational until mid-2027. Meta's PPA now ensures that the plant will continue to run once that program ends, essentially replacing that financial support. Though Constellation and Meta did not announce a price tag for the deal, they noted it "backs billions in plant investments," marking one of the largest nuclear energy agreements so far. Meta has signed a number of power purchase agreements in recent months — along with the other hyperscalers like Google (GOOG), Amazon (AMZN), Microsoft (MSFT) — as Big Tech races to ensure it can power the artificial intelligence boom. Reuters reports: Read more here. Shares in Dollar General (DG) rose 10% in premarket trading on Tuesday, after the retailer raised its annual sales forecast and beating quarterly sales estimates on robust demand for everyday essentials. Reuters reports: Earnings: Asana (ASAN), CrowdStrike (CRWD), Dollar General (DG), Hewlett Packard Enterprise (HPE), Nio (NIO), Ollie's (OLLI), Signet Jewelers (SIG) Economic data: JOLTS Job Openings (April); Factory and Durable goods orders (April); Capital goods orders (April final); Capital goods shipments (April final) Here are some of the biggest stories you may have missed overnight and early this morning: Boeing is the US government's favorite trade talk tool Why the 'Magnificent 7' are outperforming other stocks again Trump tariffs: A Supreme Court test may make or break their fate OECD warns of tariff hit to growth as US pushes for deals Google stock could fall 25% on 'black swan event': Barclays Nvidia's $1 trillion rally has traders primed to ramp back up Wall Street games out how to profit from Trump tariff flip-flops Yahoo Finance's Josh Schafer reports: Read more here. President Trump's trade war has dragged the global economy into a downturn, with the US among those hardest hit, the OECD has warned. Trade barriers and uncertainty are stifling investment and undermining confidence, the organization said on Tuesday as it slashed its forecasts for leading economies for the second time this year. Trump's policy shift is also adding to inflationary pressures, it said. The Financial Times reported: Read more here Oil prices rose Monday evening as major producers Iran and Canada were struck with issues. Iran has an ongoing deal with the US in jeopardy over a potential pivot to nuclear while Canada is facing wildfires. Reuters reports: Read more here. Stocks continued their climb on Tuesday, with all major indexes notching gains. The S&P 500 (^GSPC) rose 0.6%, while the Dow (^DJI) added about 0.5%. The Nasdaq (^IXIC) also pushed higher, gaining roughly 0.8% despite easing from its session highs as momentum carried over from a strong start to the week. Smaller companies joined the rally, with the Russell 2000 (^RUT) jumping around 1.5%. In a major milestone, Nvidia (NVDA) officially became the world's most valuable company, surpassing Microsoft (MSFT). The AI powerhouse ended the day at $3.444 trillion, narrowly overtaking Microsoft's $3.441 trillion. Yahoo Finance's Laura Bratton reports: Read more here. In the latest instance that headline labor market data isn't flashing massive warning signs, job openings surprisingly increased in April. New data from the Bureau of Labor Statistics released Tuesday showed 7.39 million jobs open at the end of April, an increase from the 7.2 million seen the month prior. But as we've been highlighting, one feature of the currently stagnant labor market is that some sectors are clearly taking the brunt of the labor market cooling. Our Chart of the Day breaks down the hiring and quits rate by sector. There are two key callouts here. For one, the information sector, which includes a variety of tech jobs, continues to see hiring below the national average. Workers' willingness to quit their jobs also lagged the national norm. Also within the chart, there's a clear impact from Department of Government Efficiency (DOGE) layoffs and tariffs. From March to April of this year, when many of the tariffs began, the quits rate for wholesale trade workers fell from 1.5% to 1.1%. In retail trade that number fell from 3% to 2.5%, as workers in areas directly impacted by tariffs have been less willing to quit their jobs. Similarly, the federal government boasts the lowest hiring rate among the sectors at 1%, down from the 1.2% seen the year prior. To be clear, none of the numbers seems to be rapidly deteriorating. But a close look at the chart does help show that the policy uncertainty is clearly having an impact on at least certain areas of the labor market. As media giants grapple with rising interest rates, regulatory pressure, and tariff uncertainty, consolidation is on pause — at least for now. Starz sees opportunity in the chaos. The newly independent premium cable and streaming network is positioning itself to potentially acquire distressed assets and provide tech support to traditional players caught flat-footed by the streaming revolution. "There'll be a great shedding first, and then there'll be a reconnecting of other things," Starz CEO Jeff Hirsch told Yahoo Finance on Monday. He pointed to a period of strategic soul-searching across the industry. "A lot of folks are inward-looking and trying to figure out who they are and what they do well." "Once they figure that out, then I think they'll shed assets," the head of the Colorado-based company added. It's been a turbulent time for legacy media, which has heavily invested in expensive streaming endeavors amid the mass exodus of pay TV consumers. Prior to the cord-cutting phenomenon, linear advertising and cable affiliate fees had consistently boosted revenues. But as ad buyers now flee traditional TV channels in favor of digital options like streaming, companies are beginning to realize they may never realize those economics again. These pressures have resulted in waves of layoffs across the industry as companies double down on streaming through newly launched ad-supported tiers, bundled offerings, and price hikes. That has triggered a broader recalibration of portfolio strategy and, according to Hirsch, is setting the stage for a sweeping wave of divestitures across the industry. Read more here. Elon Musk is targeting the GOP spending bill, calling it a "disgusting abomination." "I'm sorry, but I just can't stand it anymore," Musk wrote Tuesday in a blistering post on X. "This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it." He added: "It will massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden American citizens with crushingly unsustainable debt." Musk officially left the White House last week after completing his work as the head of the Department of Government Efficiency (DOGE). Musk's brief 130-day tenure was defined by sweeping cost reductions, mounting legal hurdles, and intense political scrutiny. It's unclear The administration is asking Congress to sign off on a $9.4 billion package to confirm DOGE's past budget cuts and cement its cost-cutting efforts. Read more here. Yahoo Finance's Ben Werschkul reports: Read more here. Stocks steadily rose on Tuesday as positive JOLTS data pointed to a stable labor market ahead of Friday's crucial jobs report. In sector action, Energy (XLE) led the gains, followed by Tech (XLK) and Consumer Discretionary (XLY). Real Estate (XLRE) and Consumer Staples (XLP) traded in the red, off around 0.5%, while Financials (XLF) were little changed. Dollar General (DG) led the S&P 500 on Tuesday after posting record first quarter sales. Cost-conscious consumers have flocked to discount retailers amid an uncertain economic backdrop. Ford (F) stock rose more than 2% on Tuesday afternoon after reporting that sales jumped 16.3% in May to just under 221,000 units. It marked the automaker's best May since 2019 and the third straight month of sales gains, Yahoo Finance's Pras Subramanian reported. Ford's sales were likely boosted by a price-cut promotion that the automaker implemented to counteract the potential for slower demand under President Trump's tariffs. As a result, Ford likely took market share from rivals GM (GM) and Stellantis (STLA), which didn't offer similar discount plans. It remains to be seen how long Ford can sustain this level of discounting as pre-tariff hike inventories dwindle. Meanwhile, Pras reports that Toyota (TM) also reported a sales increase of 6.8% in May to 240,176 units, led by gains in its car and truck segments. And Korean automaker Hyundai (HYMTF) reported sales rose 8% to 84,521 units, while Kia ( sales jumped 5% to 79,007 units. Read more here. The bond market is caught in a tug-of-war between pro-growth stimulus and inflationary pressures, leaving investors with few clear signals and rising long-term yields. "We have policies that on the one hand will boost growth like expansive fiscal stimulus," Kathy Jones, chief fixed income strategist at Charles Schwab, told Yahoo Finance. "Then we have some that will slow growth, like tariffs. ... So the bond market is just caught in the middle." Long-term Treasury yields have climbed in recent weeks, driven by concerns over the US fiscal trajectory as President Trump's sweeping tax legislation, estimated to add $4 trillion to the national debt over the next decade, heads to the Senate after clearing the House. Trump has vowed to sign the bill into law by July 4. "We haven't seen this for decades," Jones said, pointing to the recent bond market moves as a reflection of "a lot of worries and uncertainty." "I've been doing this a long time," she added. "And we haven't worried about the 30-year for a very long time." Read more here. Job openings unexpectedly rose in April after hovering near a four-year low the month prior. New data from the Bureau of Labor Statistics showed 7.39 million jobs open at the end of April, an increase from 7.2 million in March. The data comes as investors closely watch for any signs that economic growth may be slowing further. The March figure was revised higher from the 7.19 million open jobs initially reported. Economists surveyed by Bloomberg had expected Tuesday's report to show 7.1 million openings in March. The April survey included data from the first month that the most severe versions of President Trump's tariffs were in effect. The Job Openings and Labor Turnover Survey (JOLTS) also showed that 5.57 million hires were made during the month, up slightly from the 5.4 million made during March. The hiring rate ticked up to 3.5% from 3.4% prior. In one sign that workers may become more cautious about labor market conditions, the quits rate, a sign of confidence among workers, moved down slightly to 2% from 2.1% in March. US stocks wavered on Tuesday as investors await more updates on President Trump's tariffs. The S&P 500 (^GSPC) traded near the flat line while the Dow Jones Industrial Average (^DJI) fell about 0.1%. The tech-heavy Nasdaq Composite (^IXIC) was little changed on the heels of an upbeat start to the week for the major gauges. Here are some top stocks trending on Yahoo Finance this morning: Applied Digital (APLD) stock added 8% in premarket trading to a whopping 48% gain on Monday after announcing it signed two long-term lease agreements with Nvidia-backed CoreWeave (CRWV) for AI data centers. CoreWeave also rose 4% premarket. Constellation Energy (CEG) jumped 11% after the energy company secured a 20-year nuclear power purchase agreement from Meta (META). The deal also boosted other nuclear stocks, including Vistra (VST) (up 5%) and Oklo (OKLO) (up 6%). Scroll down to read more about Constellation's deal. Dollar General (DG) stock surged 11% on better-than-expected earnings and a raised annual forecast. The discount retailer is expected to be resilient in a weaker economic environment. Pinterest (PINS) shares gained nearly 4% after JPMorgan upgraded its rating on the stock to Outperform from Neutral. The JPMorgan analysts also raised their price target on the stock to $40 (from $35 previously), citing improving user numbers and ad technology. Check out more trending tickers here. Constellation Energy (CEG) stock surged more than 12% in premarket trading following news that it struck a 20-year power purchase agreement (PPA) with Meta (META). Meta stock was roughly unchanged. Starting in June 2027, Meta will buy 1,121 megawatts of energy from Constellation's Clinton nuclear facility in Illinois, powering its AI ambitions while supporting its clean energy goals, a release stated. The Clinton Clean Energy Center was nearly retired in 2017 after financial losses, but a state clean energy program kept the facility operational until mid-2027. Meta's PPA now ensures that the plant will continue to run once that program ends, essentially replacing that financial support. Though Constellation and Meta did not announce a price tag for the deal, they noted it "backs billions in plant investments," marking one of the largest nuclear energy agreements so far. Meta has signed a number of power purchase agreements in recent months — along with the other hyperscalers like Google (GOOG), Amazon (AMZN), Microsoft (MSFT) — as Big Tech races to ensure it can power the artificial intelligence boom. Reuters reports: Read more here. Shares in Dollar General (DG) rose 10% in premarket trading on Tuesday, after the retailer raised its annual sales forecast and beating quarterly sales estimates on robust demand for everyday essentials. Reuters reports: Earnings: Asana (ASAN), CrowdStrike (CRWD), Dollar General (DG), Hewlett Packard Enterprise (HPE), Nio (NIO), Ollie's (OLLI), Signet Jewelers (SIG) Economic data: JOLTS Job Openings (April); Factory and Durable goods orders (April); Capital goods orders (April final); Capital goods shipments (April final) Here are some of the biggest stories you may have missed overnight and early this morning: Boeing is the US government's favorite trade talk tool Why the 'Magnificent 7' are outperforming other stocks again Trump tariffs: A Supreme Court test may make or break their fate OECD warns of tariff hit to growth as US pushes for deals Google stock could fall 25% on 'black swan event': Barclays Nvidia's $1 trillion rally has traders primed to ramp back up Wall Street games out how to profit from Trump tariff flip-flops Yahoo Finance's Josh Schafer reports: Read more here. President Trump's trade war has dragged the global economy into a downturn, with the US among those hardest hit, the OECD has warned. Trade barriers and uncertainty are stifling investment and undermining confidence, the organization said on Tuesday as it slashed its forecasts for leading economies for the second time this year. Trump's policy shift is also adding to inflationary pressures, it said. The Financial Times reported: Read more here Oil prices rose Monday evening as major producers Iran and Canada were struck with issues. Iran has an ongoing deal with the US in jeopardy over a potential pivot to nuclear while Canada is facing wildfires. Reuters reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
