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• The ongoing conflict in the Middle East has driven up oil prices, expected to slow US economic growth compared to a no-conflict baseline scenario, according to Deloitte analysis. • Despite pressures from elevated energy costs, US firms are unlikely to materially reduce investment plans due to resilient growth in AI and technology sectors. • Higher oil prices will affect US consumers through increased costs, though broader economic resilience from AI investments may mitigate some impacts.

Prices rose 3.8% over the last year, according to Bureau of Labor Statistics data, highest jump since 2023Sign up for the Breaking News US newsletter emailUS inflation jumped to 3.8% in April as the war in the Middle East continued to drive energy prices and everyday costs for Americans.Prices rose 3.8% over the last year, according to the data from the Bureau of Labor Statistics, the highest jump since 2023. Continue reading...

• U.S. stocks surged last week with the S&P 500 and NASDAQ reaching new record highs, supported by stronger-than-expected April jobs data and solid tech earnings. • The S&P 500 climbed 10.42% in April to close at a record 7,209.01, while the Nasdaq 100 rallied 15.64% and Dow gained 7.14%, led by mega-cap tech and AI enthusiasm. • Employment growth exceeded forecasts in April with unemployment steady at 4.3%, while Q1 earnings for the Magnificent Seven are projected to grow 45.7% year-over-year.

• iShares MSCI South Korea ETF and iShares MSCI Taiwan ETF have risen 239% and 96% respectively over the past 12 months amid AI mania. • South Korea's KOSPI index hit a record 7,899.32 on Monday with a 4% surge, while Taiwan's TAIEX closed above 42,000 for the first time last week. • Goldman Sachs forecasts South Korea's GDP growth at 2.5% in 2026 with AI-related exports tripling to nearly 30% of GDP; Taiwan's GDP expected to accelerate to 10% with similar export rises.

• EverQuote Inc. delivered strong Q1 2026 results with 30% EBITDA growth, highlighted in May 2026 investor presentation showing accelerating profitability. • AI initiatives drove expansion in insurance quoting platform, boosting operational efficiency and market penetration. • Performance underscores Nasdaq-listed firm's momentum in digital insurance marketplace amid tech-enabled growth.

• The Business Times reports AI enthusiasm propelled markets higher, with gains concentrated in a handful of mega-cap tech firms while broader corporate earnings lag behind soaring valuations. • Hong Kong emerged as an AI startup launchpad, achieving a five-year high in fundraising during Q1 2026, alongside Chinese VC/PE funding surging past 400 billion yuan (US$59 billion). • ChiNext Index reached an 11-year intra-day high of 3,785.23 on April 23, fueled by funds piling into optical-communication stocks like Zhongji Innolight and Eoptolink on bets of US AI infrastructure demand.

• China Daily highlights the Regional Comprehensive Economic Partnership (RCEP), the world's largest free trade agreement, as increasingly vital for anchoring growth across Asia amid global uncertainties. • Covering 30% of global GDP and population, RCEP facilitates deeper supply chain integration and tariff reductions among 15 member nations including China, Japan, South Korea, ASEAN countries, and Australia. • The pact's expansion of trade rules supports resilience against trade wars and economic slowdowns, boosting intra-Asian commerce by an estimated 10-15% in key sectors.