OP Wire 5/8 (OP – Lite)

By Steve

Markets Climb as Chip Stocks Surge & Trade Deals Progress

Wall Street wrapped up a strong session Wednesday, powered by a rally in chip stocks—most notably NVIDIA (NVDA)—after Bloomberg reported the Trump administration may ease export restrictions on AI chips.

S&P 500: +0.4%
NASDAQ Composite: +0.3%
Dow Jones Industrial Average: +0.7%

NVIDIA’s surge provided a much-needed spark, as traders welcomed signs of tech relief amid ongoing trade and policy uncertainty.

Trump Teases “Full & Comprehensive” U.K. Trade Deal

On Truth Social, President Trump confirmed that the U.S. will soon finalize a sweeping trade deal with the United Kingdom, calling it “full and comprehensive” and the first in a wave of deals now in late-stage negotiation.

According to Trump:

“Because of our long-time history and allegiance together, it is a great honor to have the United Kingdom as our FIRST announcement.”

Reports suggest the deal may center around lower bilateral tariffs, particularly benefiting key U.S. exporters. The U.K. had not been directly hit by Trump’s initial April wave of reciprocal tariffs but is still subject to a 10% universal dutyand sector-specific tariffs.

This comes ahead of a U.S.-China trade meeting scheduled for this weekend, which could mark a turning point in what has been a tense and uncertain trade environment.

Fed Holds Rates — Flags Risk from Trade Tariffs

As expected, the Federal Reserve kept interest rates unchanged at its latest policy meeting.

But Fed Chair Jerome Powell struck a cautious tone, citing:

Rising inflationary risks
Possible pressure on employment
Uncertainty surrounding Trump’s tariff agenda

Powell emphasized that the Fed will remain in a holding pattern until there’s more clarity on whether the U.S. economy will sustain its growth or falter under inflationary pressures.

“The economic outlook is increasingly clouded,” Powell said, while still acknowledging the resilience of consumer spending and labor strength.

Earnings Blitz Continues

The earnings parade rolls on today:

Before Open:
- ConocoPhillips (COP)
- Warner Bros. Discovery (WBD)
After Hours:
- Paramount Global (PARA)
- Expedia (EXPE)
- Other key names in travel, energy, and media

Applovin (APP) soared in premarket after crushing earnings and announcing a sale of its mobile gaming business.

On the downside, Arm Holdings (ARM) dropped sharply after issuing weak forward guidance, despite heavy investor attention in the AI and chip space.

Oil Rises on Optimism Over U.S.-China Talks

Crude prices edged higher Thursday on growing confidence that upcoming U.S.-China trade talks could spark a broader economic reset, especially among the top two energy consumers in the world.

Brent: +0.9% to $61.69
WTI: +1.1% to $58.72

Treasury Secretary Scott Bessent will meet with China’s top economic official in Switzerland this weekend. This meeting could set the stage for wider de-escalation in trade tensions impacting global markets.

OP Chat Recap: INTC Play Pops + Livestream Rewind

What a day yesterday!
We stacked some strong gains in the OP Gold Chat, especially from our INTC trade, which is showing signs it could be gearing up for a serious run. Don’t sleep on this chart.

We also had an OPEN Live Stream session—packed with insights, setups, and questions from the OP community.

Missed it? No worries. Rewatch the full recording here:
Watch Now: https://youtu.be/SzzdaOBL0GQ

Bottom Line:

NVIDIA strength is a sentiment booster for tech.
U.K. trade deal + China talks = real catalysts for reversal in tariff fears.
Fed holding steady, but tone is getting more cautious.

Stay sharp, stay disciplined, and get in the chat.
This is the most profitable community in trading—OP Gold Chat is where the edge lives.

Stack your gains, and see you inside.

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