PRE-OPEN
Canadian markets are lower as hopes for a U.S.–Iran peace deal faded, lifting crude oil prices and hitting risk sentiment worldwide.
Canada
Canada is investing $2 million in an economic hub in the Philippines backed by the United States and Japan, its trade minister said.
Mink Ventures Corporation (TSXV: MINK) announced a non-brokered private placement for aggregate gross proceeds of up to $1,000,000 (the “Offering”). The Offering will consist of the sale of hard dollar units (the “HD Units”) of the Company at a price of $0.10 per HD Unit and flow-through units (the “FT Units”) of the Company at a price of $0.13 per FT Unit.
Each HD Unit will consist of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant shall entitle the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20.
Each FT Unit will consist of one Common Share of the Company (a “FT Share”) and one Common Share purchase warrant (“FT Warrant”). Each Warrant shall entitle the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20.
The FT Shares are to be issued as “flow-through shares” within the meaning of the Income Tax Act (Canada) (the “Tax Act”). An amount equal to the portion of the subscription price that is directly attributable to the consideration paid for the subscription and issuance of the FT Shares will be used to incur eligible resource exploration expenses which will qualify as (i) “Canadian exploration expenses” (as defined in the Tax Act), and (ii) “flow-through critical mineral mining expenditures” (as defined in subsection 127(9) of the Tax Act) (collectively, the “Qualifying Expenditures“). Qualifying Expenditures in an aggregate amount equal to the gross proceeds raised from the issuance of the FT Shares will be renounced to the initial purchasers of the FT Units with an effective date no later than December 31, 2026. The FT Warrants are not being issued as “flow-through shares” within the meaning of the Tax Act.
The Canadian Chrome Company Inc.(CSE: CACR) (CSE: CACR.A)announce the closing today of the first tranche of its previously announced non-brokered unit private placement (the "Private Placement") (see the Company's news releases dated March 18, 2026 and May 1, 2026) by issuance of an aggregate of 61,142 units (each a "Unit") at a price of $1.40 per Unit for aggregate gross proceeds of $85,600. Each Unit is comprised of one (1) multiple voting share of the Company (each, a "Multiple Voting Share") and one (1) warrant of the Company (each, a "Warrant"), with each such Warrant entitling the holder to purchase one further Multiple Voting Share upon payment of $1.50 at any time on or before the earlier of (i) May 11, 2031 or (ii) two (2) business days after completion of a take-over bid or a merger, amalgamation, arrangement or other form of business combination as a result of which the shareholders of the Company immediately prior to such bid or business combination do not own a majority of votes attaching to the voting securities of the Company or of the resulting issuer or do not have the power to elect a majority of the directors of the Company or of the resulting issuer, as the case may be, after completion of such bid or business combination (each a "Change of Control").
The following insiders of the Company (each an "Insider") participated in the Private Placement for an aggregate of 16,142 Units representing the equivalent of 0.10% of the Company's issued and outstanding multiple voting shares (calculated on the basis of conversion of the subordinate voting shares into multiple voting shares on a ratio of 100:1) on a partly diluted basis following closing of the Private Placement:
Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF)announce that as a result of excess demand, it has amended its previously announced agreement with National Bank Financial Inc. and MDCP Securities Limited (together, the “Co-Lead Agents”), as joint bookrunners and co-lead agents, on behalf of a syndicate of agents (collectively, the “Agents”), in connection with a “best efforts” private placement offering under the LIFE Exemption (as defined herein) for up to 9,661,000 common shares of the Company (the “Common Shares“) at a price of $4.50 per Common Share (the “Offering Price”) for aggregate gross proceeds of up to $43,474,500 (the “LIFEOffering“).
Apollo Silver Corp. (TSXV: APGO, OTCQB:APGOF, Frankfurt:6ZF) report results from its ground geological mapping and sampling program (the "Program"), including assay results, at the Calico Silver Project ("Calico" or the "Project") located in San Bernardino County, California (see news release dated December 11, 2025). The Program conducted mapping, sampling and geophysical anomaly checks across the Project, and identified multiple mineralized occurrences returning assays with highly anomalous silver, gold, barite and zinc values across several key areas.
Program activities included systematic infill rock sampling at Burcham gold prospect (located within the Waterloo Property), and regional scale assessment of the Mule Property. The Mule Property assessment included geological mapping and outcrop sampling along the Calico fault trend, soil geochemistry surveys, and outcrop sampling within the lithostratigraphic unit known as the Pickhandle Formation Volcanics ("Pickhandle”). Ground-truthing of historic induced polarization ("IP") anomalies within Langtry and Waterloo was also conducted.
"This exploration field program has advanced our understanding of the potential for additional significant mineralization at Calico," said Ross McElroy, President and CEO of Apollo Silver. "Encouraging gold and silver results, including high-grade silver at the Mule Property, along with elevated barite values at Langtry, reinforce our confidence in the upside prospectivity for additional discoveries at Calico.”
Canada Nickel Company Inc. (TSXV: CNC) (OTCQX: CNIKF) that the Impact Assessment Agency of Canada ("IAAC") has published the draft Impact Assessment Report ("Report") for the Crawford Nickel Project ("Crawford"), bringing Crawford one step closer to a final federal permitting decision, expected for early summer 2026.
Mr. Selby continued, "We appreciate the thorough and collaborative approach taken by IAAC, and the valuable contributions of federal and provincial authorities, Indigenous Nations, and the public throughout this process."
On November 22, 2024, Canada Nickel submitted its Impact Statement for Crawford to IAAC. Following a public comment period and technical review involving federal and provincial authorities, Indigenous Nations, and the public, IAAC provided comments on May 30, 2025, outlining additional information required to complete the Impact Statement phase. Canada Nickel submitted its responses to IAAC's comments on December 30, 2025.
IAAC has confirmed that the information provided, together with the original Impact Statement, satisfies the requirements of subsection 19(1) of the Act. On March 3, 2026, IAAC published a notice on the Canadian Impact Assessment Registry formally ending the Impact Statement phase and initiating the Impact Assessment phase. Today's announcement is the draft report from the Impact Assessment phase.
Casa Minerals Inc. (TSXV: CASA) (OTCQB: CASXF) (FSE: 0CM)report that it has received aggregate gross proceeds of $432,777.30 to date in 2026 through the exercise of 4,453,364 common share purchase warrants (the "Warrants").
The Warrants were originally issued pursuant to the Company's private placements completed in April of 2025 and February of 2026. Each Warrant entitled the holder to acquire one common share of the Company upon exercise.
Net proceeds will be deployed to advance Casa's 2026 exploration programs at the Congress Gold Mine in Arizona and the Arsenault Copper-Gold-Silver Project in British Columbia, and for general working capital purposes.
"The continued support from our warrant holders is greatly appreciated," said Farshad Shirvani, President and Chief Executive Officer. "This additional capital meaningfully strengthens our balance sheet as we mobilize for an aggressive 2026 drilling and exploration season across our core projects.”
Copper Quest Exploration Inc. (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) announce that drilling has commenced on the Rip Copper-Molybdenum Project (the "Project" or "RIP") for drilling a minimum of 2,000 meters. The RIP Project is in the Stikine region of British Columbia, situated approximately 33 km northeast of Imperial Metals Corporation's past producing Huckleberry copper-molybdenum ("Cu-Mo") mine and Surge Copper's advanced stage Ox/Seal/Berg projects, and 30 km southeast of Vizsla Copper Corp's Poplar copper-gold Project. Imperial Metals Corporation is exploring Huckleberry and its surrounding claims for additional Cu-Mo resources.
Brian Thurston, CEO of Copper Quest, stated, "Copper Quest is excited to see drilling at RIP that will fulfill the terms for our acquisition of a 60% interest in this high-potential asset. Phase One drilling in 2024 demonstrated that a blind, multi-phase Cu-Mo mineralized porphyry system is responsible for at least one of the two compelling geophysical 'bullseye' targets outlined on the property. While the 2024 program successfully validated the target concept, most of the northern target and all of the southern target remain untested by drilling. It is a rare opportunity to get to explore road-accessible, validated porphyry targets in British Columbia that have seen so little previous drilling, particularly within an established porphyry district such as the Bulkley Valley. Copper Quest has assembled a dominant land position in the Bulkley Porphyry Belt, including the STARS, RIP and Stellar properties, providing shareholders with a district-scale copper porphyry exploration and discovery opportunity."
Dryden Gold Corp. (TSXV: DRY) (OTCQX: DRYGF) (FSE: X7W) announce drill results for in-fill drilling at Jubilee on the Elora Gold System. Drilling at Jubilee tested between 150 to 200 meters with the goal of collecting structural data to improve in predicting high-grade gold mineralization at depth. Deeper down-plunge testing will begin this summer, and a second drill rig will be deployed to continue to fully define the high-grade footprint at Gold Rock.
Drilling down-plunge targets at Gold Rock has become a key strategic focus for the Company following development of the new 3-D geological model which allows the team to better visualize the intersection lineation plunge controls on high-grade mineralization associated with the D3 deformation event. The geological team intends to systematically test all the high-grade zones at depth through approximately 100-meter down-plunge step-outs. Employing a second drill rig will allow for deeper drilling while simultaneously testing shallowly along strike with the goal of expanding the overall mineralization footprint. This footprint expansion drilling will test high-grade fault intersection targets at shallow depths across the parallel mineralized structures at Gold Rock followed by Mud Lake.
Maura Kolb, Dryden Gold's President, explains the summer drill program, "We are making great strides and have now identified a very robust near-surface, high-grade gold system at Gold Rock. We now have sufficient data to provide detailed 3-D models and systematically drill deep into these high-grade zones. With the increased confidence of our geological model, we will be adding a second drill rig at Gold Rock to allow for more rapid growth of this expansive gold system. We are now confident in our ability to vector into the high-grade zones at depth and additional testing can be done with shallow drilling.”
Excalibur Metals Corp. (TSXV: EXCL) announce it has successfully acquired a 100% interest in the North Tybo Project ("North Tybo" or the "Project") via direct staking of 50 unpatented lode mining claims. Located in the favorable mining jurisdiction of Nye County, Nevada, the Project encompasses epithermal gold-silver mineralization along major regional structures. This geologic setting shares key similarities with AngloGold Ashanti's emerging Arthur Project near Beatty, Nevada, as well as Excalibur's flagship Bellehelen Project located 40 kilometers to the south.
Management cautions that results from adjacent properties may not necessarily be indicative to the presence of mineralization at North Tybo.
"The acquisition of North Tybo via staking represents a high-value, low-cost entry position expanding into an area our team knows well – in effect, it's our backyard," said John Gilbert, CEO of Excalibur. "The presence of widespread epithermal-style alteration in a caldera setting is a key indicator for us. It suggests that a significant amount of mineralizing fluids were circulated through a major structural zone, and the core of the system appears unidentified. We are eager to apply modern, systematic exploration to North Tybo, as it has the right rocks, and good neighbors that are aware of this.”
Graphene Manufacturing Group Ltd (TSXV: GMG) (OTCQX: GMGMF) announce GMG's energy saving and anti-corrosion graphene coating solution, THERMAL-XR, is being applied to the air conditioners for two luxury towers in Australia currently under construction at the Gold Coast in Queensland (the "Project"). The Project includes spraying THERMAL-XR on a total of between 300 to 600 air conditioners, see Figure 1 showing how the THERMAL-XR is sprayed on the air conditioners in GMG's spray booth facility in Brisbane Queensland.
Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF) (FSE: 1QA)highlight emerging evidence of the germanium potential at its recently acquired Prairie Creek ("PC") Silver Project in the Northwest Territories.
The PC Silver Project hosts a historic resource estimate of 9.8 Mt of Measured & Indicated Resources, grading 139 g/t silver, 9.7% zinc and 8.8% lead for a total of 240 Mozs of AgEq (silver equivalent) at a silver equivalent grade of 766 g/t plus 6.4 Mt of Inferred Resources grading 150 g/t silver, 12.9% zinc, and 6.7% lead, hosting 167 Mozs of AgEq at a silver equivalent grade of 813 g/t.
Recent work led by Professor Dan Gregory and his research team at the University of Toronto, Canada, with support from the Northwest Territories Geological Survey (NTGS) has demonstrated the excellent germanium potential of the Prairie Creek deposit. Early-stage whole-rock assay results have returned exceptional values of up to 316 ppm germanium within the Stratabound Massive Sulfide (SMS) zone at the PC Silver Project underscoring the potential for meaningful germanium enrichment within the broader mineralized system.
Andrew Jedemann, Vice President of Exploration at Honey Badger Silver, who will be assisting Dr. Gregory and his team with the ongoing research efforts on site commented: "We are very encouraged by the early results coming from the University of Toronto team and the broader collaboration supporting this work. The recognition of germanium potential at Prairie Creek adds a compelling new dimension to an already high-quality silver-rich polymetallic system. With newly developed analytical methods and strong academic collaboration, we believe there is a real opportunity to create additional value at Prairie Creek from this ongoing partnership. Based on readily available public sources, the price of germanium is high at over US$8,000/kg, double last year's price, and it appears to be trending higher. Although our evaluation is very preliminary, it's conceivable that germanium could eventually provide a material amount of by-product revenue at PC and also attract development funding because it is a highly desirable critical mineral.”
Integra Resources Corp. TSXV: ITR; NYSE American: ITRG) announce financial and operating results for the three months ended March 31, 2026 (the "first quarter" or "Q1 2026"). The Company will host a conference call to discuss first quarter 2026 results on Tuesday, May 12, 2026 at 11:00 AM Eastern Time / 8:00 AM Pacific Time.
George Salamis, President, CEO and Director of Integra commented:
"Q1 2026 demonstrated the continued strength of Integra's transformation into a growing and profitable U.S.-focused gold producer," said George Salamis, President, CEO and Director of Integra. "At Florida Canyon, we achieved record mining rates and strengthened operational flexibility during the quarter due to the significant reinvestment in our haulage fleet over the past 12 months. The Company continues to generate strong operating margins and free cash flow despite temporary production timing impacts that we expect to recover over the balance of the year. Importantly, we maintained our full-year production guidance, underscoring our confidence in the operation and the investments we have made to support higher sustained mining rates and future production growth.
In parallel, we significantly strengthened our balance sheet through a successful bought deal financing, ending the quarter with more than $105 million in cash to support near-term growth initiatives, including the continued advancement and de-risking of DeLamar. Over the past year, we have advanced DeLamar through feasibility work, permitting milestones, strategic land acquisitions, and FAST-41 coordination, while continuing to expand exploration and technical work across our broader portfolio. With an updated Florida Canyon mine plan and technical report expected later this year, permitting momentum at DeLamar, pre-feasibility work at Nevada North, a record-sized 50,000 meter exploration program and production expected to grow meaningfully in 2027 and 2028, we believe 2026 represents an important inflection point as we continue building a sustainable, multi-asset intermediate gold producer in the United States."
Miata Metals Corp. (TSX.V: MMET) (OTCQX: MMETF) (FSE: 8NQ) announce the signing of a Memorandum of Understanding (“MOU”) with the Okanisi People through their Okanisi Development Fund (“ODF”), for its Sela Creek Gold Project (“Sela Creek” or the “Project”) in Suriname. The Okanisi (Ndyuka) Maroon People are one of the major Maroon communities in Suriname. They live mainly along the Tapanahony River and assert their traditional rights over an area encompassing Sela Creek. Miata currently holds a 70% interest in Sela Creek and is working toward satisfaction of an option to acquire a full 100% interest in the Project.
As part of this agreement, Miata will provide an initial contribution of US$10,000 to support the establishment and operational readiness of the ODF. The MOU reflects the intention of both parties to work collaboratively toward a formal Mutual Benefits Agreement.
“Signing this MOU with the Okanisi People is a meaningful milestone for Miata and reflects our commitment to working in partnership based on respect of their traditional rights, transparency, and open communication. This agreement establishes a foundation for ongoing dialogue and good faith collaboration as we advance Sela Creek in a responsible and sustainable manner. We view this MOU as an important step toward a formal Mutual Benefits Agreement with the Okanisi People,” says Dr. Jaap Verbaas.
Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) announce assay results from diamond drill hole EC-06 at its Eldorado West Project in Eastern Oregon (the "Project"). The new hole was a step-out of the recently discovered Herman Area mineralization, and intersected broad, pervasive intervals of strong gold mineralization from surface with wide higher-grade intervals internally. EC06 has expanded the mineralization to the southwest, extending the Herman gold zone, which remains open in all directions.
Diamond drill hole EC-06 was designed to follow up on results from holes EC-04, EC-05, ED-27, ED-28 and ED-29 (see press releases dated March 26, 2026, October 8, 2025, and November 5, 2025). The drilling confirmed that strong gold mineralization extends to the southwest within the Herman area. Intersections include broad zones of gold mineralization with higher-grade intervals, hosted within mineralized contact zones, structural features, and breccias along the interface between sedimentary host rocks and dioritic intrusions and ending in mineralization assaying 0.58 g/t Au over 4.42m
Sirios Resources Inc. (TSXV: SOI) (OTCQB: SIREF)announces an additional capital injection, which provides it with greater financial flexibility to carry out its exploration and investment programs.
Since the update on January 15, 2026, the exercise of 28,439,748 warrants and 2,100,000 options has added $3,472,730 to Sirios's cash balance and resulted in the issuance of 30,539,748 shares. There are now 671,119,508 common shares outstanding. The warrants and options exercised were due to expire in April 2026, December 2026, and July 2027. Of this amount, $0.5 million comes from warrants exercised by NQ Investissement Minier and $1 million from the early exercise of warrants due to expire in 2027 by CDPQ Sodémex Inc., a wholly owned subsidiary of La Caisse de dépôt et placement du Québec.
"These transactions reflect the ongoing support of our long-standing shareholders and demonstrate their confidence in our growth plan. The participation of Quebec institutional funds is yet another demonstration of their support for Sirios," said Jean-Félix Lepage, CEO of Sirios.
Skyharbour Resources Ltd. (TSXV: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) announce that it has closed a non-brokered private placement (the "Private Placement") financing for total gross proceeds of CAD $5,250,389.10. The Private Placement was entirely subscribed for by several strategic institutional investors.
The Company has allotted and issued 9,052,395 flow-through shares (the "FT Shares") at a price of CAD $0.58 per FT Share. The FT Shares as defined in subsection 66(15) of the Income Tax Act (Canada) ("ITA") as presently constituted, shall qualify for the federal 30% Critical Mineral Exploration Tax Credit, as defined in subsection 127(9) of the Income Tax Act (Canada).
The funds will be applied towards the Company's 2026 exploration campaign including exploration and drilling at its co-flagship Russell ("RL") and Moore Lake Uranium Projects, as well as at other uranium projects in the Athabasca Basin.
Pursuant to the Private Pl
Terra Rossa Gold Ltd. (TSXV:TRR) (OTCQB:TRGXF), announce it has granted an aggregate of 3,350,000 stock options (the "Options") to directors, officers, and consultants of the Company to purchase 3,350,000 common shares (the "Shares") in the capital of the Company pursuant to the Company's share option plan (the "Option Grant"). The Options will have a one-year vesting period and are exercisable at an exercise price of $0.50 per Share for a period of five years from the date of grant.
Tantalus Systems (TSX: GRID) (OTCQX: TGMPF) a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data, announced a series of data analytics solutions at its 2026 Tantalus Users Conference (TUC) in Las Vegas, NV, designed to help utilities accelerate their grid modernization efforts. The solutions announced include TRUGrid Verify, which leverages AI to find and eliminate hidden errors in grid data, as well as enhancements to the company's TRUGrid Reliability and TRUGrid Transformer analytics solutions, which are now backed by a new service offering called TRUGrid Advantage. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296939
Titiminas Silver Inc. (TSXV: TITI) provide a corporate update and outline the technical work program that will advance the Madre Sierra Silver mine (the "Mine") in central Peru, in which the Company holds an option to acquire a 100% interest, toward a Final Investment Decision ("FID") milestone targeted for the fourth quarter of 2027.
Management Commentary
"The work program outlined today provides shareholders with a clear, sequenced roadmap to a Final Investment Decision on the Madre Sierra Silver mine by the end of 2027," said Luis Goyzueta, Chairman and Chief Executive Officer of Titiminas Silver Inc. "By initiating drilling from existing underground workings at Madre Sierra, Madre Sierra Norte and the Titiminas CRD, we are advancing three high-priority targets in parallel and converting historical workings into productive resource-definition platforms. Once the underground program is complete, we plan to step out from surface to test the broader 5 km mineralized corridor for additional zones along strike. With drilling, metallurgy, basic engineering and geomechanical workstreams now sequenced together, we are positioning the Mine to deliver a maiden resource in mid-2027 and to convert that resource into a robust development case under a PEA in the second half of 2027."
Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) announce further details regarding the planned airborne radiometric survey at the Aurora Uranium Project ("Aurora" or the "Project"), located in Saskatchewan's Athabasca Basin region. Further to the Company's previous announcement regarding the engagement of Special Projects Inc. ("SPI"), the survey is expected to consist of approximately 5,212-line kilometers of low-level, tight-drape, high-resolution radiometric and aeromagnetic surveying across the Project. The survey will be completed under the direction of Cosa Resources Corp. ("Cosa"), the underlying owner and operator of the Project. Traction holds an option to acquire an 80% interest in Aurora from Cosa, subject to satisfying certain earn-in requirements (please see news release dated February 11, 2026). The Aurora Project covers approximately 17 kilometers of prospective strike along the southeastern margin of the Athabasca Basin.
The planned survey is expected to occur between June and July 2026 over an estimated 17-day operating period, subject to seasonal weather conditions, aircraft availability, equipment preparation, calibration, and other operational considerations. Field operations are expected to be based primarily from Points North Landing, Saskatchewan. The survey is designed to provide high-resolution radiometric coverage across Aurora, with traverse lines planned at 50-meter spacing and tie lines planned at 750-meter spacing. The survey will use a low-level tight-drape method, subject to safety and operating conditions, and will collect both spectrometer and high-resolution magnetic data. The planned survey configuration is intended to support the identification of radioactive anomalies, refine geological and structural interpretations, and help prioritize areas for follow-up exploration.
COMPANY EARNINGS Constellation Software Inc: Expected Q1 earnings of $25.16 per share Finning International Inc: Expected Q1 earnings of C$1.01 per share First Majestic Silver: Expected Q1 earnings of 33 cents per share Franco-Nevada Corp: Expected Q1 earnings of $2.07 per share Freehold Royalties: Expected Q1 earnings of 18 Canadian cents per share George Weston Ltd: Expected Q1 earnings of 99 Canadian cents per share goeasy Ltd: Expected Q1 loss of (C$1.31) per share Parex Resources Inc: Expected Q1 earnings of 61 cents per share Pet Valu Holdings Ltd: Expected Q1 earnings of 37 Canadian cents per share Peyto Exploration & Development Corp: Expected Q1 earnings of 74 Canadian cents per share Power Corporation of Canada: Expected Q1 earnings of C$1.42 per share Wesdome Gold Mines Ltd: Expected Q1 earnings of 96 Canadian cents per share
World Markets
Euro STOXX 50 futures were down 36 points at 5,851, FTSE futures lost 52.5 points to 10,215.5, German DAX futures dropped 201 points to 24,212, by 0430 GMT.
The dollar rose as hopes faded for a deal to get ships moving through the Strait of Hormuz, while a red-hot rally in chip stocks cooled and traders waited on U.S. inflation figures.
Oil prices rose as talks to end the U.S.-Israeli war on Iran appeared fragile, with Tehran's response to a Washington proposal highlighting stark differences that have kept supply concerns alive.
U.S. stocks closed slightly higher on Monday, with AI optimism fueling upward momentum even as the earnings-driven fervor of the recent rally eased in the home stretch of reporting season and as crude prices rose, stoking inflation worries as U.S.-Iran peace negotiations stalled.
The U.S. dollar held its ground as talks to end the war in the Middle East showed no signs of progress, pushing oil prices higher and worrying investors that interest rates may need to stay higher to tackle inflationary pressures.
U.S. Treasury yields rose on Monday after President Donald Trump rejected Iran's response to a U.S. peace proposal, pushing oil prices higher and stoking concerns about a renewed increase in inflation.
Gold prices edged lower as investors awaited a meeting between Trump and Chinese President Xi Jinping while watching developments surrounding the conflict in the Middle East.
S&P 500 Index Mini Futures: 7,426; down 0.14%; 10.75 points DJIA Mini Futures: 49,787; down 0.01%; 5 points Nikkei: 62,814.05; up 0.63%; 396.17 points MSCI Asia, Ex-JP: 878.31; down 0.7%; 6.18 points EUR/USD: $1.1758; down 0.21%; 0.0025 point GBP/USD: $1.3586; down 0.18%; 0.0025 point USD/JPY: 157.57 yen; up 0.25%; 0.39 point Spot Gold: $4,719.68; down 0.30%; $14.41 U.S. Crude: $98.80; up 0.74%; $0.73 Brent Crude: $104.80; up 0.57%; $0.59 10-Yr U.S. Treasury Yield: 4.4206%; up 0.009 point 10-Yr Bund Yield: 3.0550%; up 0.011 point
US
U.S. futures edged lower as a rally in chip stocks lost steam and hopes for a quick resolution to the Middle East war faded, while investors looked ahead to a key inflation report. Additionally, commentary from Federal Reserve’s Austan Goolsbee is also on the radar.
U.S. consumer prices likely rose at a solid pace for a second straight month in April, which would result in the largest annual increase in inflation in more than 2-1/2 years and further bolster expectations the Federal Reserve would keep interest rates unchanged for a while.
Boeing Co: The company hid safety problems with its 737 MAX jet when LOT Polish Airlines picked the popular single-aisle jet in 2016 to anchor its plans to recover from its significant financial troubles at the time, the airline's attorney argued on Monday in U.S. District Court in Seattle. "This case is about Boeing's lies and deception and the devastating financial harm it caused" LOT, the Polish flag carrier's attorney, Anthony Battista, said during opening statements on Monday. While Boeing was pitching LOT on leasing 737 MAX jets, its engineers were simultaneously grappling with jetliners' tendency for the nose to pitch up under certain conditions. So it created the Maneuvering Characteristics Augmentation System (MCAS), a software feature that automatically pushed the airplane’s nose down in those conditions. However, Boeing misled the Federal Aviation Administration about the extent of MCAS and difficulties with it in flight testing, so regulators would not require extensive training for pilots already flying the previous 737 models.
Bristol Myers Squibb Co: Jiangsu Hengrui Pharmaceuticals, China's biggest drugmaker by market value, said it struck global collaboration and licensing deals with U.S. drugmaker Bristol Myers Squibb that include potential milestone payments of up to $15.2 billion. The latest deal with Bristol Myers Squibb covers four cancer and blood-disease drug candidates from Hengrui, four immunology candidates from Bristol Myers Squibb and five additional projects the companies will work on together. All 13 programmes are still at very early stages and have not yet entered human clinical trials, Hengrui said in a statement. Under the terms, Bristol Myers Squibb will secure worldwide rights to Hengrui-developed assets outside mainland China, Hong Kong and Macau, while Hengrui will gain exclusive rights to Bristol Myers Squibb's programmes in those markets.
eBay Inc & GameStop Corp: EBay rejected an ambitious $56 billion takeover bid from the much smaller GameStop on doubts over the financing of the deal, while underscoring its turnaround efforts that have boosted its growth. The rejection could lead to a hostile bid as GameStop CEO Ryan Cohen had last week said he was willing to take the offer directly to eBay shareholders. Analysts and investors have doubted whether the half-cash, half-stock bid from the $12 billion videogame retailer for a company nearly four times its market value would close. EBay stock has been trading $20 below the offer price of $125 per share. The approach has also irked some GameStop investors. Following the bid, Michael Burry of the "The Big Short" fame sold all his shares in the company.
Microsoft Corp: OpenAI and Microsoft agreed to cap total revenue-sharing payments at $38 billion, U.S. digital news outlet The Information reported on Monday, citing a person with knowledge of the arrangement. The development comes as OpenAI and Microsoft renegotiated a contract last month, making room for OpenAI to forge new partnerships with companies such as Amazon and Google. The payment cap could help OpenAI present a stronger long-term pitch to investors as it works toward a public offering, which some executives said could take place as soon as the end of this year, according to the report.
Netflix Inc: The streaming giant was sued on Monday by Texas Attorney General Ken Paxton, who accused the streaming company of spying on children and other consumers by collecting their data without consent, and designing its platform to be addictive. Texas said that for years, Netflix has falsely represented to consumers that it did not collect or share user data, when it actually tracked and sold viewers' habits and preferences to commercial data brokers and advertising technology companies, making billions of dollars a year. The Los Gatos, California-based company was also accused of quietly using "dark patterns" to keep users watching, including an autoplay feature that starts a new show when a different show ends.
Steris plc: The medical equipment maker forecast fiscal 2027 profit above Wall Street expectations on Monday, betting on strong demand for its sterilization services despite narrowly missing estimates for fourth-quarter adjusted profit. Steris, which sells infection-prevention products to hospitals and laboratories, posted a 7% rise in quarterly revenue to $1.6 billion, helped by higher procedure volumes and a diversified customer base. Analysts had estimated revenue of $1.59 billion for the quarter ended March 31. It also authorized a new $1 billion share repurchase program. Steris' fourth-quarter adjusted profit came in at $2.83 per share, narrowly missing estimates of $2.85 per share.
Venture Global Inc: The company raised its full-year adjusted core profit forecast, driven by higher expected liquefaction fees and stronger LNG sales volumes. Export volumes of the superchilled fuel from the U.S. have risen sharply after the conflict in the Middle East disrupted energy markets, knocking nearly 20% of global LNG supply offline and forcing buyers to seek alternative routes. Venture Global exported 130 cargos and sold 481 trillion British thermal units (TBtu) of LNG during the first quarter, compared with 63 cargos and 228.3 TBtu a year earlier. In 2026, it expects to export 147 to 154 cargos from the Calcasieu Project in Louisiana and 347 to 369 cargos from the Plaquemines Project. The company now assumes a fixed liquefaction fee range of $9.50 to $10.50 per million British thermal units (MMBtu) for its remaining unsold LNG cargos in 2026, compared with $5 to $6 per MMBtu previously.
ECONOMIC DATA 0830 Core CPI MM, SA for April : Expected 0.3%; Prior 0.2% 0830 Core CPI YY, NSA for April : Expected 2.7%; Prior 2.6% 0830 CPI Index, NSA for April : Expected 332.686; Prior 330.213 0830 Core CPI Index, SA for April : Prior 334.165 0830 CPI MM, SA for April : Expected 0.6%; Prior 0.9% 0830 CPI YY, NSA for April : Expected 3.7%; Prior 3.3% 0830 Real weekly earnings MM for April : Prior -0.9% 0830 CPI MM NSA for April : Prior 1.050% 0830 CPI Index SA for April : Prior 330.29 0830 CPI Wage Earner for April : Prior 323.500 1100 Cleveland Fed CPI for April : Prior 0.2% 1400 Federal budget for April : Expected $220.00 bln; Prior -$164.00 bln
Europe / Asia
Hopes for a peace deal on Iran faded after Trump said a ceasefire with Iran was "on life support" as Tehran rejected a U.S. proposal to end the conflict and stuck to a list of demands the U.S. president described as "garbage".
Keir Starmer (who is toast) came under renewed pressure on Monday when four ministerial aides stepped down and more than 70 Labour lawmakers publicly called for the British prime minister's resignation after his appeal for another chance seemingly fell on deaf ears.
Some Bank of Japan policymakers argued in April for raising rates soon, with one flagging the chance of a June move, highlighting a growing hawkish shift on the board as an oil shock from the Iran war sharpened pressure for near-term tightening.
Thyssenkrupp Nucera said its net loss widened to 64 million euros in the second quarter, missing estimates, citing higher costs for hydrogen projects and the termination of a contract.
Siemens Energy will accelerate its standing share buyback programme after posting a 42% increase in pre-tax free cash flow, the company said, benefitting from demand for data centres to power artificial intelligence technology.
Lotus said it plans to launch its first-ever supercar in 2028 and will scale back its all-electric ambitions, as the UK-based sports car maker pivots to a hybrid-led strategy amid slowing EV demand and shrinking government subsidies.
ECONOMIC DATA (GMT) 0600 Germany CPI Final MM for April: Expected 0.6%; Prior 0.6% 0600 Germany CPI Final YY for April: Expected 2.9%; Prior 2.9% 0600 Germany HICP Final MM for April: Expected 0.5%; Prior 0.5% 0600 Germany HICP Final YY for April: Expected 2.9%; Prior 2.9% 0600 Germany CPI Final NSA for April: Prior 124.5 0900 Germany ZEW Economic Sentiment for May: Expected -19.8; Prior -17.2 0900 Germany ZEW Current Conditions for May: Expected -77.8; Prior -73.7
