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What’s Trending Nvidia stock skyrockets a whopping 26% post-market on their stunning Q1 2024 predictions! Stronger-than-expected $7.19B revenue results are shaking the market. CEO Jensen Huang highlights a "surging demand" for AI chips. Even amidst a gaming slump, a massive 114% growth hits the automotive division. Nvidia's influence on the AI chip market is setting the trend!

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📚 Congress Rescinds Pandemic Student Loan Relief

U.S. House approved a bill potentially reversing student loan forbearance and blocking President Biden's debt forgiveness plan. Critics argue that the Congressional Review Act (CRA) if passed in the Senate, would place past-due balances and new interest charges on 40 million borrowers. Supporters highlight it could reduce deficits by $316 billion through 2033. Despite House approval, experts and the White House doubt the CRA's Senate passage and foresee a presidential veto.

💰 U.S. Credit Rating Threatened by Debt Ceiling Drama

Fitch warns of a potential downgrade of the U.S.'s AAA credit rating due to unresolved debt ceiling discussions. The US Treasury urges "swift bipartisan action" to avoid a manufactured crisis while Republican Speaker Kevin McCarthy reassures, "I wouldn't scare the markets...we will come to an agreement." With June 1 looming as a potential default date, the U.S.'s economic stability hangs in the balance.

🌍 Wagner Group Proposes North Korea's Survival Strategy for Russia

Yevgeny Prigozhin, the founder of the Wagner Group PMC, urges Russia to prepare for heavy war, introduce martial law, and close all borders in North Korean style. Citing inequality and potential revolution, He directs a pointed message to the elite, urging them to send their children to war, stating, "When you start burying them, people will say, 'Now everything is fair'." Despite supporting the Ukraine war, he consistently criticizes Russia's military leadership.

⚠️ U.S. Infrastructure Under Cyber Attack from Chinese Hackers, Microsoft Alerts

Chinese hackers, dubbed 'Volt Typhoon', have infiltrated critical US cyberinfrastructure, Microsoft warned, disturbing communications primarily between the US and Asia. These state-sponsored attacks, undetected since 2021, exploit vulnerabilities in FortiGuard security software. Aimed at prolonged espionage, sectors hit include communications, transport, maritime, and government. CISA director Jen Easterly emphasizes China's long-term cyber threat to global intellectual property.

📲 iOS 17 to Bring Smart Display Feature to iPhone Lock Screens

Apple's iOS 17 may transform your iPhone into a smart display, providing a hub of info on your lock screen while charging, a la Google's Pixel Stand, says Bloomberg's Mark Gurman. It'll show widgets like weather, calendar, and notifications with vivid text on a dark backdrop. Plus, Apple's working to extend this to iPads. Announcement expected at the Worldwide Developers Conference next month. "Hey Siri, can't wait!"

🚀 NVIDIA and Microsoft Join Forces, Supercharge Generative AI

NVIDIA and Microsoft have partnered to improve generative AI apps on Windows 11 with NVIDIA's RTX GPUs, notably boosting performance. NVIDIA's upcoming driver will offer over 2x enhancement with optimized models. Their collaboration will enable efficient AI performance, and the integration of Microsoft's 'Windows Subsystem for Linux'. This partnership targets the AI surge, aiming to transform and innovate Windows applications.

🎵 Tina Turner Passes at 83, President Biden Pays Tribute

Tina Turner, 'Queen of Rock'n'Roll,' dies aged 83, leaving an enduring career of over 5-decades. Famous for her high-energy performances, she inspired musicians like Mick Jagger & triumphed over personal hardships. President Biden said "Tina's personal strength was remarkable," & paid tribute to her versatility & personal strength, highlighting her transformation from a farmer's daughter to being the most successful recording artist of all time. She made us believe, in her words, that we can "turn poison into medicine.’’

🏀 Shaquille O'Neal Intercepted! Lawsuit Served During NBA Broadcast

Shaquille O'Neal, elusive to process servers for months, was finally served lawsuit papers over FTX, a collapsed cryptocurrency firm. O'Neal was served while covering a Celtics-Heat game for TNT. Lawyer Adam Moskowitz confirmed the service, stating, "These claims now are very serious... it is good that we can start with the merits." O'Neal, alongside other celebrities who promoted FTX, now faces a progressing class-action lawsuit from investors.

🏳️‍🌈 LGBTQ+ Leaders Alarm at Target's Withdrawal of Pride Merch Amid Violent Threats

Target pulled Pride items amid threats and violent confrontations endangering employees' safety. LGBTQ+ leaders express concern over visibility and ally support. U.S. Rep. Angie Craig criticizes giving in to harassment, emphasizing the need for workplaces to stand with the LGBTQ+ community amid anti-LGBTQ+ legislation. Despite recent changes, Target reaffirms its commitment to the LGBTQ+ community, symbolizing its continued allyship.

🕰️ Social Security Payments at Risk Amid Debt Ceiling Standoff

Impending US debt ceiling deadlock may delay $25 billion weekly Social Security payments from June, affecting 66 million people including retirees and disabled workers. This, along with delayed federal paychecks and Medicare grants, stokes concerns among beneficiaries, who rely heavily on these payments. Max Richtman, CEO of the National Committee, warns: "A lot of people in Washington are not that in tune with what this could mean."

💹 Fed Officials at Odds Over Further Interest Rate Hikes

In a May meeting, Federal Reserve officials were divided over further interest rate hikes needed to combat persisting high inflation. Although agreeing on lifting the federal funds rate for the 10th consecutive time, officials expressed uncertainty over future tightening. However, investor expectations for an 11th rate hike in June are growing. As Quincy Krosby, Chief Global Strategist for LPL Financial, highlights, "another rate hike may be needed to finally quell inflationary pressures."

Today in 1787, U.S. Constitutional Convention opened in Philadelphia. 55 state delegates, initially charged with amending the Articles of Confederation, later drafted the Constitution of the United States.

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