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Global Oil Supply Collapses as Wall Street Warns of Price Explosion

Key Points: The global oil market lost 13.7 million barrels of daily supply due to the ongoing conflict in Iran. Desperate nations drained 7.1 million barrels per day from strategic storage tanks throughout April to manage prices. Physical oil costs reached extreme levels in Asia, with buyers in Sri Lanka paying $286 per barrel. Analysts at Citi warn that Brent crude futures could hit $150...

Qualcomm Stock Surges 13% as OpenAI Smartphone Rumors Emerge

Key Points: Qualcomm shares jumped 13% following reports of a new partnership with OpenAI to build a smartphone processor. Tech analyst Ming-Chi Kuo expects the artificial intelligence device to enter mass production by 2028. OpenAI purchased Jony Ive's hardware startup for $6.5 billion last May to lead the design efforts. Apple and Samsung currently control about 40% of the global smartphone market and present stiff...

Joby Aviation Completes Historic Electric Air Taxi Flight in New York

Key Points: Joby Aviation executed the first point-to-point electric vertical takeoff and landing flight in New York City. The new aircraft will reduce a 120-minute drive to John F. Kennedy Airport down to just a 7-minute flight. The company plans to launch commercial passenger flights during the second half of 2026. Joby stock climbed 3 percent following the successful midday test flight in Manhattan. Flying...