Bloomberg News Now: Market Rally, Student Visa Policy, Nvidia Earnings Preview & More

Market Rally and Consumer Confidence

• 📈 Stocks rallied on Tuesday as consumer confidence rebounded in the U.S. and the EU sped up trade talks.
• 📊 The S&P 500 gained over 2%, the Nasdaq was up 462 points, and the Dow Jones Industrial Average rose 741 points.
• 🗣️ President Trump expressed encouragement regarding EU trade negotiations, following his earlier threat of 50% tariffs.
• 💡 Consumer confidence jumped over 12 points in May, marking the biggest monthly gain in four years, though concerns remain about the labor market.

Student Visa Policy and Business Investment

• 🛂 The U.S. State Department has ordered embassies to stop scheduling student visa interviews as stricter vetting of applicants' social media profiles is considered.
• 🎓 International students contribute significantly to U.S. schools by paying full tuition, which helps subsidize aid for other students.
• 🌍 A State Department spokesperson affirmed every country's right to know who is entering and why, emphasizing the use of all available tools for assessment.
• 📉 Richmond Fed President Tom Barkin noted that elevated uncertainty has led businesses to freeze hiring and postpone investment decisions.

Corporate News and Earnings Preview

• 🤝 President Trump approved Nippon Steel's bid for U.S. Steel, with reports suggesting Nippon may offer golden shares to the U.S. government.
• 💰 The deal is expected to bring $14 billion in investment over the next 14 months, with U.S. Steel shares rising about 2%.
• 🚀 Nvidia is expected to post a strong quarter, with analysts closely watching its forward guidance and revenue expansion from its core business.
• 📊 Nvidia shares were up approximately 3% ahead of its earnings report.

International Relations and Health Policy

• 👑 King Charles in Canada outlined government priorities, emphasizing new trade relationships and the challenges of modern conflicts, calling them the most challenging since World War Two.
• 🗣️ His speech to the Canadian parliament was seen as a show of support amidst annexation threats.
• 🇷🇺 President Trump's comments on Russian President Vladimir Putin were described as playing with fire, with analysis suggesting Putin might view Trump as desperate.
• 💉 COVID-19 shots are no longer on the recommended vaccine schedule for healthy children and pregnant women, according to Health and Human Services Secretary Robert F. Kennedy Jr.
• 🔬 This decision is based on common sense and good science, ending a previous recommendation for repeat boosters in children without clinical data.

Food Industry Update

• 🍬 Mars has confirmed that its Skittles candies will no longer contain titanium dioxide, a chemical used for whitening and brightening colors.