Welcome Back,

Market Headlines 👀 

• US 20y Treasuries see a weak bond auction, causing a major intraday reversal.

• Bitcoin (BTC) hits all time highs nearing $110k.

• Alphabet (GOOGL) announces new product update at its I/O event, including new AR/VR glasses.

• Shopify (SHOP) announces AI enabled store builder for new users.

• OpenAI will acquire former Apple iPhone designers (Jony Ives) AI startup for $6.4b.

Earnings 💸

• Snowflake (SNOW)

  • EPS: $0.24 beats (exp. $0.21)

  • Revenue: $1.04b beats (exp. $1.01b)

• Target (TGT)

  • EPS: $1.30 misses (exp. $1.65)

  • Revenue: $23.85b misses (exp. $24.35b)

• Zoom (ZM)

  • EPS: $1.43 beats (exp. $1.31)

  • Revenue: $1.17b meets (exp. $1.17b)

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

Snowflake earnings snapshot (contributed by Brad Freeman @Stockmarketnerd):

Market Preview 🎞️ 

• Thursday, May 22nd: Weekly jobless claims; Existing home sales

• Thursday earnings: Nanox (NNOX), and Autodesk (ADSK) 

• Friday, May 23rd: New home sales

Enjoy reading?👇

That’s all for this week, folks! We’ll be back around the same time Tuesday with a curated list of important news, economic data and market highlights. 

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