Somewhere before the finish line the body starts to break down, Joanne Walker says. “The pain starts in your feet but before long it moves up to your knees and eventually you feel like you just can’t move your legs any more.” After 30 hours with no sleep, running alone through the cold darkness of the Megalong Valley, the brain can break as well. “At one point, I did not even know where I was going; I was swerving all over the shop,” she says. “But I told myself, no matter how much I am struggling, I promised myself I was going to have the best hair out of anyone on the trail.” View image in fullscreen Runners make their way through night-time rain on day two of ‘the miler’. Photograph: Krystle Wright Walker is one of more than 8,000 runners across five events who have descended on the Blue Mountains, west of Sydney, to take part in Ultra-Trail Australia, the largest trail running event in the country and one of the most infamously gruelling. Walker is running in what is colloquially known as “the miler”, short for 100 miles, covering more than 163km and climbing and descending more than 7,000 metres. It’s a test that pushes the body and mind well past their limits. “You start looking for a reason to quit,” Walker says. “One guy out there told me he hoped another runner might be close to death so he could render assistance and have an excuse to stop running.” Spectators and runners share the same thought: why would anyone choose so much suffering? Chasing the void Every runner has a different reason. No one thing pulls people to the starting line. But common themes emerge. Nothingness. Absence. Freedom. Many runners cite the words of Haruki Murakami, who wrote that he runs to “acquire a void”. “I think there is a really beautiful simplicity in that, everything just returns to absolute basics,” Walker says. In the lead-up to the race, she is nervous. View image in fullscreen A friend embraces Walker as she arrives at the Katoomba aquatic centre aid station after runn...

You’ve written books, films, TV shows and plays. Which of your projects do fans most want to talk to you about? The one that people react to most, particularly women, is The Woman Who Walked Into Doors [about a woman experiencing domestic violence]. It came out in 1996, but even now – I was at a book signing event in Auckland a couple of days ago and two women told me quietly that that book meant so much to them. I think it’s possibly the best book I’ve written. You’ve been living with Paula Spencer, the protagonist of The Woman Who Walked Into Doors, for decades – from the TV series she originally appeared in, to your trilogy of novels. What’s the most surprising way she’s turned up in your everyday life? When Covid started, I went to get my first vaccination, and I felt slightly elated coming home. I was driving and I thought: I wonder what Paula would have made of that? And that’s where The Women Behind the Door came from. By the time I got home and parked the car, I had the guts of the story and I knew that’s what I was going to be working on for the next couple of years. [Another time] I remember seeing a picture on Facebook of a woman I taught when I was a school teacher, who would be in her late 50s now. She was wearing a plaid shirt, jeans and white trainers, and I thought: Paula dresses like that. I gave her the shirt [in the novel], a plaid shirt that her son-in-law didn’t want to wear. And she loves the freedom of it, you know. It’s as if relatively later in life she’s found the outfit that she really likes. In a couple of years you both turn 70 – what will you get her? Well, she doesn’t exist. Sometimes I delude myself, but she doesn’t exist. But I suppose there is the possibility I will give her another book. The only thing is, you need a form of energy – I don’t know how to describe it, a sort of itch – to write. I have it at the moment, I just finished a book, and there has never been a long period where I haven’t had it, but I assume at some point th...

lcardoso/iStock via Getty Images The Morningstar Wide Moat Focus Index has underperformed sharply since March. We review the stocks and drivers behind the gap and why history and current valuations may favor patience. Index performance is not illustrative of fund performance. It is not possible to invest directly in an index. Index returns do not reflect management fees, transaction costs, expenses, or taxes, which would reduce returns. YTD Performance: A Tale of Two Halves Through the end of February 2026, the Morningstar Wide Moat Focus Index (the "Moat Index") was outperforming the S&P 500 Index. The Moat Index gained 3.38% through February, while the S&P 500 was mostly flat for the year (+0.68%), a gap that reflected the kind of quality-at-a-discount positioning the moat strategy is designed to deliver. Then March arrived, and the picture reversed. From March 1 through May 15, 2026, the Moat Index declined approximately -7.06%, while the S&P 500 Index gained 7.96%, a relative gap of 15 percentage points in a matter of weeks. Notably, the S&P 500 Equal Weighted Index also posted negative returns in that period (-1.24%). After leading the market capitalization-weighted S&P 500 Index for the first four months of 2026, it now sits about 3.0% behind. With the Moat Index in negative territory for 2026 while both the S&P 500 Index and S&P 500 Equal Weighted Index remain positive, this has been among the more disappointing stretches in recent memory. However, the recent weakness reflects a concentrated and rapid selloff driven by specific holdings and sector dynamics, rather than broad deterioration across the portfolio. Through February, the strategy was outperforming, and similar periods of sharp relative underperformance have historically been followed by recovery. -3.92% Moat Index YTD +8.70% S&P 500 Index YTD +5.74% S&P 500 Equal Weighted Index YTD Click to enlarge Source: Morningstar. Data as of 5/15/2026. Past performance is no guarantee of future results. Index ...

00:00 Speaker A Like I mentioned at the top of the show, big week for uh SpaceX, potential uh IPO there. Open AI, potentially filing its prospectus, some, it could even come at some point today. Whatever it is, these two companies are very likely to be public companies at some point this year. And I I think back to all these stupid stories I still continue to see pop up. If you invested a dollar in Amazon when uh it IPOed, you'd be a millionaire. Like, on day one, what do you do with these companies? 00:33 Speaker B You know, I don't think you do anything. I would love to have these companies come out, see a big pop, and then actually buy it at a much lower valuation. Doesn't everybody remember when Facebook came out at 40 bucks, you know, years ago, was the most expensive IPO at the time, and then it settled around 16 before it started moving up. I mean that was over a 50% decline. You know, my view is, first of all, let's look at the red to yellow flags. 01:10 Speaker B They're going to do 30% allocation to retail on SpaceX. Usually allocations to IPOs like this are 5, 10%. So when you have five times the amount of IPO shares going to retail crowd, that just tells you where the market is. And I don't think it's, you know, I think it's sort of a sign of the times, but I also think that that IPO is really based on euphoria versus strong institutional ownership. Also, if you've got a buck in SpaceX, it's already coming out at 2 trillion. You lost when it was at one and a half, 1 trillion. When was it at 100 billion? So, we've missed all this upside. Every investor is just taking out private equity, you're just taking out all these massively wealthy institutions that are 10X, and you're taking out the 10x, 15x player. I don't want to do that. I'd rather see SpaceX come out at 2 billion, let the punters punt, and then buy this thing when it's a trillion dollars. Also, 01:52 Speaker B do they make any money? Can they make a profit? Where are the earnings? There's no ear...

PayPal (PYPL 0.16%), which owns one of the world's largest digital payment platforms, was once considered a high-growth fintech stock. Yet over the past five years, PayPal's stock plummeted more than 80% as it struggled to grow its user base, revenue, and profits. Visa (V 0.22%), which owns the world's largest card payments network, was widely considered a blue chip stalwart rather than a growth stock. But over the past five years, its stock has rallied nearly 50% as it generated predictable growth and expanded its ecosystem. So should investors simply forget about PayPal and buy Visa's stock instead? Why did PayPal's stock plunge? From 2021 to 2025, PayPal's year-end active accounts only grew from 426 million to 439 million. It originally aimed to reach 750 million active accounts by the end of 2025. As PayPal squeezed more value from its existing users, its revenue still grew at a 7% CAGR from 2021 to 2025. But its transaction take rates -- or the percentage of each transaction it retains as revenue -- continued to decline as it faced tougher competition. Its decoupling from eBay (EBAY +0.42%), which replaced PayPal with Adyen (ADYEY +1.19%) as its preferred payment provider, also throttled its user and sales growth from 2018 to 2023. Expand NASDAQ : PYPL PayPal Today's Change ( -0.16 %) $ -0.07 Current Price $ 44.23 Key Data Points Market Cap $39B Day's Range $ 44.13 - $ 44.71 52wk Range $ 38.46 - $ 79.50 Volume 134.8K Avg Vol 18.3M Gross Margin 41.43 % Dividend Yield 0.63 % As the growth of PayPal's namesake platform cooled, the company relied more heavily on its Venmo, its peer-to-peer payments app, and Braintree, its unbranded payments platform, to drive its top-line growth. However, both of those high-growth platforms operated at lower take rates and margins than PayPal's namesake platform. PayPal recently decided to spin off Venmo as a stand-alone business (which could free it up for a potential sale), but that divestment would further throttle its near-term...

This article first appeared on GuruFocus. Chinese automakers are gaining fresh ground in Europe's electric-vehicle market, with brands including BYD (BYDDF) and Chery more than doubling fully electric sales in April from a year earlier to 38,281 units, according to Dataforce. That pushed Chinese manufacturers above 15% of European EV sales for the first time, marking a sharp jump from 2021, when they were still selling only a few thousand EVs a month in the region. The strength is not limited to battery-electric models either. Chinese automakers also captured nearly 29% of Europe's plug-in hybrid sales in April, showing that their broader electrified lineup could be resonating with buyers across multiple price points. This European expansion could be increasingly important as China's domestic price war pressures profits and forces automakers to look harder at overseas growth. Chinese brands are now closing in on 10% of the wider European car market, helped by consumer demand for models that are often more affordable and, in some cases, more advanced on technology than higher-priced European alternatives. BYD's rollout of its upmarket Denza brand also suggests Chinese manufacturers are no longer focused only on budget-conscious buyers, but may be moving further into higher-income customer segments. Tariffs on Chinese-made EV imports have done little to slow the advance so far, and manufacturers are now trying to deepen their position by expanding production inside Europe. BYD is building its own factories in the European Union, while Stellantis (NYSE:STLA), the maker of Peugeot and Fiat cars, has been striking deals with Chinese automakers including Leapmotor and Dongfeng involving factory sharing. The UK has become one of the clearest examples of that momentum, with roughly one in every seven car purchases now coming from a Chinese brand, helped by the absence of tariffs on imported EVs and strong demand for Chery's Jaecoo and Omoda brands. Jaecoo's 7 SUV was the UK...

Morningstar warned, “‘Financials Look Reckless’: Lifting xAI’s Hood in the SpaceX IPO”. Its AI division, xAI, lost $2.47 billion on $818 million in the first quarter of this year. “If you compare xAI to a traditional SaaS company, the financials look reckless,” Harrison Rolfes, a senior research analyst at PitchBook, wrote. That may be a ... Grok Could Undermine SpaceX IPO

格隆汇5月22日丨格隆汇“美股CPU三雄”——ARM股价涨超5%，报314.9美元/股，再度刷新记录新高，总市值超3300亿美元。ARM本周累计大涨超50%。

Chris de Beer-Procter Memorial Day weekend 2026 is shaping up as a Star Wars-driven period for the U.S. box office, with Disney ( DIS ) and Lucasfilm’s Star Wars: The Mandalorian & Grogu widely expected to dominate. Early projections are clustered around the $80M to $90M mark for the four-day domestic debut, with some independent forecasts stretching into a low-nine-figure range. Globally, the film is projected to open in the neighborhood of $160M, with about half of that total expected from overseas markets where it is rolling out across roughly 98% of territories this weekend. The film is the first Star Wars theatrical release since 2019. Notably, the U.S. box office was up 23% in Q1 and rose 11.1% halfway through the second quarter. Looking ahead, Texas Capital analyst Eric World advised that the remaining film slate for Q2 is relatively attractive, with several movies with potential upside outside the Star Wars return. Other releases during June include Scary Movie 6 (the first release in that franchise since 2013), Toy Story 5 (the first release in that franchise since 2019), and Steven Spielberg's highly anticipated Disclosure Day, which is arriving amid near-viral interest in UFOs. The holiday weekend arrives at a busy time for the movie studio and movie theater sectors. AMC Entertainment ( AMC ) rallied more than 20% during the week after CEO Adam Aron snapped up more shares, while IMAX ( IMAX ) is on the move amid buyout talks. Lionsgate Studios ( LION ) jumped 7.7% on Friday after an earnings topper, and investors are watching for signs of regulatory pushback against the Paramount Skydance ( PSKY ) buyout of Warner Bros. Discovery ( WBD ). Meanwhile, Marcus Corporation ( MCS ) is sitting under the radar as the only movie-related stock with a clean sweep of bull ratings across Seeking Alpha analysts, Wall Street analysts, and the quant ratings system. More on movie-related stocks AMC Entertainment: Dead Cat Bounce IMAX Corporation (IMAX) Presents at J.P. Mo...

Tom Werner/DigitalVision via Getty Images A Quick Take On The Parabilis Medicines IPO Parabilis Medicines, Inc. ( PBLS ) has filed to raise drug development funding via an IPO, according to an S-1 registration statement . The company is a clinical-stage biopharma developing helicon peptide-based treatments for various types of cancers. PBLS has seen positive Phase 1 safety and dosing trial results, and management believes its Phase 2 results will support a Phase 3 trial in the near future. Given the firm’s promising results, strong financial backing and relationship with Regeneron Pharmaceuticals, the IPO will likely be in high demand by institutional life science investors. Parabilis’ Overview And Development Efforts The company is developing treatments for desmoid tumors, other tumor types, and colorectal cancer. It is focused on Helicon peptide treatments that target the interaction between β-catenin and the T-cell factor signaling pathway, whose activation drives millions of cancer cases through various cancer subtypes. Management believes that “an estimated 80% of biologically validated disease targets are considered undruggable, largely because the majority reside inside cells and present flat interaction surfaces. Small molecules can enter cells but cannot bind flat surfaces, and antibodies and other highly-selective biologics can selectively bind flat protein surfaces but cannot enter cells to access these targets. To our knowledge, Helicons are the only modality to date with the potential to consistently solve this problem as they are engineered for cell penetration and capable of binding to flat intracellular protein target surfaces with high specificity.” Parabilis’ lead candidate, zolucatetide, is in Phase 2 or 1 trials for five different cancer types, as the pipeline graphic shows here: SEC Initial trial results for the treatment of desmoid tumors have shown zolucatetide is “well tolerated across the therapeutic dose range,” and management believes that...

We look to open the final trading day for the week higher, after a Thursday session in the green that brought the blue-chip Dow to all-time closing highs. Promises of an end to the war in Iran joins anticipation over the pending SpaceX IPO, which is expected to blow away all other market launches with a reported $2 TRILLION market cap. The Dow is up another +340 points, the S&P 500 is +28, the Nasdaq +106 and the small-cap Russell 2000 is +17 points currently. It was a quieter week of earnings reports, even with NVIDIA NVDA and Walmart WMT having put out quarterly numbers Wednesday and Thursday, respectively. We also saw economic reports that, while less “important” than the CPI Inflation Rate we saw a week ago or the Jobs Week coming a couple weeks from now, helped illustrate where we are on the housing front and in consumer outlook. Economic Report Rundown: Housing and Consumer Trends Homebuilder confidence improved slightly for May, but off dismal levels from the prior month — when the realities of the Iran war had begun to cumulatively take hold. Pending Home Sales for April came in higher than estimates, but still down a tad month over month. Housing Starts and Building Permits only saw growth on Multi-family; Single-family homebuilding remained recessed for the month. May S&P Services and Manufacturing reports yesterday moved in opposing directions, but likely not what you’d think: Services dipped 10 basis points (bps) to 50.9 — still holding onto that above-50 threshold for now — while Manufacturing saw a boost up to 55.3, nicely higher than the projected 53.7 and up 80 bps month over month. After today’s opening bell, we’ll get the final print on U.S. Consumer Sentiment for May from the University of Michigan household survey. Initially, we saw an all-time low 48.2 — only the second straight sub-50 level in this index’s 74-year history. Consumer Sentiment is -3.21% month over month and -7.66% year over year, as ever-increasing gasoline prices have put a dent...

Jacques LOIC An expert panel of the EU drug regulator endorsed eight new medicines for approval this week, including new indications for Merck's ( MRK ) and AstraZeneca's cancer drugs Keytruda and Enhertu, as well as AbbVie’s ( ABBV ) hepatitis C therapy, Maviret. AbbVie The company announced on Friday that the Committee for Medicinal Products for Human Use of the European Medicines Agency issued a positive opinion on Maviret for people aged three years and older with acute hepatitis C infection. The antiviral agent is currently available in the region for the chronic HCV infection. A final authorization decision is expected from the European Commission in Q3 2026. Additionally, the CHMP issued a positive opinion on the company’s anti-wrinkle therapy Boey as a treatment for the temporary improvement of glabellar lines, commonly known as frown lines. A final decision on that approval is expected in the coming months. Merck The New Jersey-based drugmaker announced on Friday that the CHMP issued a positive opinion on anti-PD-1 therapy Keytruda as part of a combination regimen with Pfizer ( PFE ) and Astellas ( ALPMF ) ( ALPMY ) Padcev for muscle-invasive bladder cancer that cannot be surgically removed. Specifically, the endorsement calls for the use of Keytruda with Padcev initially as a neoadjuvant option, followed by adjuvant treatment for adults with resectable MIBC for whom cisplatin-containing chemotherapy is not indicated. A final decision is expected by Q3 2026. AstraZeneca The Anglo-Swedish drugmaker’s antibody drug conjugate Enhertu, developed with Japan’s Daiichi Sankyo ( DSKYF ) ( DSNKY ), was endorsed by the CHMP as a late-line monotherapy for certain adults with HER2-positive solid tumors. Multiple regulatory submissions for the HER2-directed therapy are under review in the EU, including as a combination therapy for patients with newly diagnosed HER2-positive breast cancer, the company said. Gilead Gilead ( GILD ) announced that CHMP issued a positive opi...

格隆汇5月22日｜美股市场三倍做多半导体ETF(SOXL.US)拉升大涨超7%，报191.99美元，再创历史新高；年内累涨超350%。

Seven Bangladeshi-Italian candidates stand for Venice’s council as community faces far-right hostility – while voters demand an end to overtourism and neglect Rhitu Miah, one of seven candidates from the Bangladeshi-Italian community standing in Venice’s local election, is used to brushing off racist or sexist comments. But she was taken aback by the virulence of the negative comments online when she announced she would run for the council – potentially making her one of the first people of Bangladeshi origin ever elected in the lagoon city’s administration. “There were hateful messages – one person told me to get on a camel and go back to my own country,” says Miah, an Italian citizen who moved to Venice with her family at aged three through her father’s job at the Fincantieri shipyard, a huge importer of labour from Bangladesh. “I tried to let it be and reply with a smile … but it was difficult not to cry. This is also a reason why I’m running [to combat these prejudices].” Continue reading...

长电科技公告，公司股票于2026年5月20日、2026年5月21日、2026年5月22日连续三个交易日内收盘价格涨幅偏离值累计超过20%。经公司自查并向控股股东、实际控制人核实，截至本公告披露日，不存在应披露而未披露的重大事项。公司目前生产经营情况正常有序，未发现存在对公司股票交易价格可能产生重大影响的媒体报道或市场传闻。

Worawith Ounpeng Construction company RUI Holdings has filed a preliminary prospectus for an initial public offering of 4M class A shares. The IPO price is currently estimated to be in the range of $4.00-$5.00 per share, representing proceeds of up to $20M. The Cayman Islands-based company has applied to list the shares on Nasdaq under the ticker symbol RUIH. About 40% of the proceeds are intended to be used for market expansion and sales channels, ~30% for technology development, and roughly 30% for working capital and general corporate purposes. For the fiscal year ended August 31, 2025, RUI's revenue had totaled $13.67M, up ~335% from fiscal 2024. The company had reported a net income of $42,441, compared to a loss of $71,539 in the prior year. More on IPOs North Carolina-based First Carolina Financial Services files for IPO SA Asks: What's a good alternative investment to SpaceX? Blockchain.com confidentially submits draft registration statement for IPO

Andrii Dodonov/iStock via Getty Images SPY vs. SPYI: Muted market volatility unlikely to last I last covered the NEOS S&P 500 High Income ETF ( SPYI ) on January 27, 2026 with an article titled “SPYI Vs. QQQI: Why I Prefer The SP500-Based Covered Fund”. The article focused on the valuation and risk dynamics between the S&P 500 and NASDAQ indices. It concluded with a buy rating for SPYI. Since then, there have been several material changes both in terms of macroscopic economic conditions, geopolitics and also fund specifics such as holdings and dividends. The rest of this article will concentrate on the top three changes in my view. In terms of fund specifics, I will focus on the latest dividend payouts announced by the SPYI ETF to argue why these payout changes could suggest attractive valuation for SPYI when compared to its underlying index, which will be approximated by the State Street SPDR S&P 500 ETF Trust ( SPY ) here. In terms of macroeconomics, I will focus on the changes of the implied volatility (IV) in the option market and also the changes of the interest rate outlook. My key takeaways on this front are twofold. First, I consider the current volatility an underestimate of the true uncertainties underneath the SPY. In other words, I consider the current S&P 500 volatility, as measured by the VIX index below, to be too muted to last. Second, I expect the new interest rate outlook to pressure the valuation of SPY more than SPYI. With the above considerations, I see a large alpha potential in SPYI relative to SPY and thus keep my buy rating for the SPYI ETF. Seeking Alpha SPYI and SPY: basic information Before going into further details, let me take a quick digress to cover the basics of these ETFs first. SPY requires little introduction and I imagine the following one-sentence quote from its fund description homepage should be all I need here. SPY Fund description: The fund tracks the massively popular US index, the S&P 500. The index offers outstanding exp...

作为城市的重要基础设施，地下管网和我们每个人的生活息息相关。无论是水、电、气、暖，还是通信，都离不开一条条输送管道，它们交织成了保障城市运行的生命线。目前，我国已建成的“城市地下管网”规模居世界首位。近日，国务院常务会议审议通过《城市更新“十五五”规划》，为“十五五”时期，城市地下管网的建设改造提供了“任务书”和“路线图”。住房城乡建设部城市建设司一级巡视员邢海峰表示：“‘十五五’期间，城市地下管网预计建设改造77万公里，带动投资约5万亿元，进一步提升城市运行安全和韧性。”专家表示，城市地下管网建设改造不仅能补齐城市安全短板、提升运行效率及安全韧性，还是扩大有效投资、稳定经济增长的重要抓手，将直接拉动管材、工程机械、智能传感设备、施工服务等产业链上下游多个环节的需求。（央视财经）

On May 19, 2026, Rovida Investment Management Ltd disclosed a new stake in H World Group Limited (NASDAQ:HTHT) , purchasing 200,000 shares in a trade estimated at $10.20 million based on quarterly average pricing. According to a U.S. Securities and Exchange Commission (SEC) filing dated May 19, 2026, Rovida Investment Management initiated a new position in H World Group Limited by purchasing 200,000 shares. The estimated transaction value was $10.20 million, calculated using the quarter’s average unadjusted close. The quarter-end position was valued at $10.06 million, a figure that reflects both the fund’s purchase and subsequent stock price movements during the period. H World Group Limited operates hotels under a diverse set of brands spanning economy to luxury segments. The company leverages a scalable franchise and management platform to expand its footprint while maintaining strong brand recognition and customer loyalty. Its broad portfolio and hybrid business model provide resilience and growth opportunities in a dynamic travel market. Continue reading

格隆汇5月22日｜福特汽车拉升大涨超8%，为连续第四日上涨。福特汽车日前宣布，将在未来三年内于欧洲推出一项全面的产品与技术战略。根据这项新战略，其Ford Pro部门将从单纯的汽车制造商转型为生产力合作伙伴，利用软件和服务来实现回报最大化。福特计划到2029年底在欧洲推出五款全新乘用车，全部在欧洲制造。

On this episode of Stock Movers with Alexis Christoforous: - Estee Lauder (EL) share are climbing following collapse of a proposed combination with Puig Brands that would have created one of the world’s largest fragrance and skincare companies. - IMAX Corp. (IMAX) shares jumped after the Wall Street Journal reported the large-screen theater company is exploring a sale and has approached entertainment companies as potential buyers. - Ross Stores (ROST) shares are up after the off-price retailer boosted its comparable sales forecast for the full year. The firm also posted better-than-expected sales for the first quarter. (Source: Bloomberg)

Chinese AI firms MiniMax Group and Knowledge Atlas Technology – better known as Zhipu AI – will join the Hang Seng Tech Index next month. Their inclusion follows investor criticism that the city’s primary technology gauge has underperformed by missing out on the global artificial intelligence boom Concurrently, Shanghai-based courier J&T Global Express, lightweight metal giant Aluminum Corp of China and Beijing-founded global drug firm BeOne Medicines will join the benchmark Hang Seng Index. The additions are part of a long-term plan by the compiler to increase the number of blue-chip constituents to 100. Advertisement The three companies will be added to the gauge after the market close on June 5, increasing the tally of index constituents to 93 from 90 currently, Hang Seng Indexes Co said in a statement on Friday after the market closed. Meanwhile, there will be no deletions, it said. Meanwhile, Hansoh Pharmaceutical and Akeso will join the Hang Seng China Enterprises Index of mainland Chinese companies trading in Hong Kong, according to the statement. 02:14 Young Chinese professionals embrace ‘solopreneurship’ amid AI job anxiety The Hang Seng Index has remained little changed this year after a 28 per cent gain that made it one of the world’s best-performing equity benchmarks in 2025. The energy shock stemming from the drawn-out US-Israel war on Iran and concerns about weak results from China’s big tech platforms have weighed on investors’ sentiment.

In early trading on Friday, shares of Estee Lauder topped the list of the day's best performing components of the S&P 500 index, trading up 11.9%. Year to date, Estee Lauder has lost about 15.7% of its value. And the worst performing S&P 500 component thus far on the day is Bank of New York Mellon, trading down 92.5%. Bank of New York Mellon is lower by about 91.2% looking at the year to date performance. Two other components making moves today are SanDisk, trading down 2.8%, and Dell Technologies, trading up 10.1% on the day. VIDEO: S&P 500 Movers: BK, EL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

00:00 Speaker A Well, quantum stocks surged yesterday, and that was on an announcement that the US government plans to award two billion dollars in grants to nine firms in the space. 00:10 Speaker A Different kinds of grants for these different kinds of companies. The stocks continue to go higher today. 00:17 Speaker A But here is how it's going to work. IBM is going to get a billion dollars to establish a new Quantum Foundry uh subsidiary. So that's a foundry to actually make these chips. 00:32 Speaker A All these companies are developing these chips. Um Intel or excuse me, IBM is actually going to be making them. 00:41 Speaker A Global Foundries will get another $375 million. and then most of the other firms are going to be getting $100 million in order to advance their research on their various parts of the Quantum universe that they're looking at here. 01:05 Speaker A I had the chance to talk to IBM's vice president of Quantum adoption and business development, that's Scott Crowder. 01:13 Speaker A We talked about what this is going to look like. There's not many details of it yet, but the government's going to put in a billion, IBM is going to put in a billion, and he really talked about that this is a look to the future. 01:26 Speaker A He said, they may not be a barrier today, that is supply chains, but beginning in the 2030s, we need a secure manufacturing supply chain for the wafers we need for quantum computers. 01:38 Speaker A IBM already has a facility up in Albany, New York that makes chips and makes the quantum chips that they're working on. 01:50 Speaker A He really said that you know, they will use that facility and then expand as needed. 01:57 Speaker A There's a different mix of equipment that is better suited to making quantum than to making other types of more classic um computing chips and so they'll pivot more to that. 02:08 Speaker A Um and he really said that it is the 2030s when he expects this to sort of ramp up in a more dramatic fashion. ...