The stock market is currently in turmoil, with Nasdaq, Dow Jones and S&P 500 all experiencing price drops. Meanwhile, Elon Musk has made a request to Nvidia to prioritize shipments of advanced chips to his private artificial intelligence company, xAI, and social network X over Tesla. This order is for graphics chips that will enhance the autonomous capabilities of Tesla cars. On the employment front, the US Department of Labor released data indicating a significant decline in new jobs in April, with only 8.05 million jobs added.
In the tech industry, Intel has seen a rise in its stock price after announcing a new artificial intelligence chip that will compete with Nvidia and AMD. Alphabet (Google) has also announced layoffs of about 100 employees from its cloud unit, while Microsoft has laid off around 1,000 employees from the HoloLens development department.
The natural gas market has seen a price increase due to global dynamics shifting and Asia becoming a more opportunistic buyer. Europe is still struggling to adjust to pricing dynamics and weather fluctuations in the natural gas market. Futures contracts in the US are trading stable, while oil prices have plummeted due to OPEC+ announcing plans to gradually stop cutting oil production. The European Central Bank is expected to lower interest rates this week, despite an increase in inflation rates in the Eurozone.
