Apple shares rose to $294.67 (+0.68%), outperforming a declining market as CEO Tim Cook joins a presidential delegation to China to discuss regional stability.
- The Nasdaq and S&P 500 fell after the Consumer Price Index rose 3.8%, exceeding forecasts and reducing expectations for Federal Reserve rate cuts.
- Geopolitical tensions escalated as President Trump rejected a peace proposal from Iran, driving Brent crude prices above $107/barrel.
- Supply chain concerns surfaced as stalled labor negotiations at Samsung threaten a strike on May 21, which could disrupt 3% of the global memory-chip supply.