Global Financial and Trading Market News for May 7, 2024:

🌞 Happy Tuesday, dear traders! Let’s dive into the most exciting global financial and trading market news for the start of the week:

📊 The Chinese Stock market hit a 7-month peak, with Hong Kong experiencing its most extended surge since 2018. The HK50 index climbed by 5.80%.

🌍 Goldman highlights a resurgence in corporate buybacks, noting over 80% of S&P 500 companies have reported. This trend, pivotal to the growth of the US500 since 2011, propelled the index to 5183.

🤖 Microsoft is crafting a cutting-edge AI framework to compete with giants like Google and OpenAI. Post-announcement, Microsoft’s stock price increased by 1.75%.

💵 Amazon has unveiled a nearly $9 billion plan to enhance its cloud services footprint in Singapore, causing its stock to jump to 188.67.

🚢 Maersk predicts a 15-20% reduction in trans-Eurasian shipping volumes in Q2 due to complications in the Red Sea, with ongoing trade disruptions anticipated through the end of 2024.

🍏 Apple is pushing forward with AI chip development for data centers and discussing a potential collaboration with electric vehicle maker Rivian, despite putting the Apple Car initiative on hold. Apple’s stock is priced at $181.71.

🔥 US natural gas usage set a new record in 2023, reaching 89.1 billion cubic feet per day. The demand has been growing by an average of 4% yearly since 2018, as per the US Department of Energy. Natural gas is trading at $2.314 per unit.

✈️ The US aviation authority has launched a fresh probe into Boeing after allegations surfaced that some employees may have skipped essential inspections on the 787 Dreamliner jets and falsified documentation. Boeing’s(#BA) shares fell by 1.51%.