Focus Trade

• Intesa Sanpaolo's stock is trading steadily as investors focus on the Italian banking group's strong capital position and earnings power. • Market attention is centered on the bank's capital ratios, profit trends, and dividend capacity rather than short-term price fluctuations. • The group's financial performance is driven by corporate and investment banking, including corporate lending, M&A pipelines, and debt and equity market activities.

• The U.S. corporate earnings season is accelerating, with over 80 S&P 500 companies expected to report their financial results. • Market attention is focused on Alphabet and Intel, whose updates will likely influence the AI trade and broader investor sentiment. • Other key reports are expected from American Express, Philip Morris International, and defense contractor RTX, following strong initial results from major U.S. banks.

• Wall Street is entering a critical phase of the corporate earnings season, with a primary focus on upcoming financial results from tech giants Alphabet and Intel. • Investors are closely monitoring Alphabet's AI spending strategies and overall profit growth to determine if current market enthusiasm for artificial intelligence is sustainable. • The semiconductor sector is experiencing increased volatility as high investor expectations clash with the actual performance of chipmakers.

• Investors are focusing on upcoming earnings reports from Alphabet and Intel, which are expected to significantly influence the performance of the AI-driven trade. • The reports arrive as the U.S. corporate earnings season gains momentum, providing critical updates on the growth and monetization of artificial intelligence. • Simultaneously, markets are monitoring Federal Reserve interest rate expectations, with recent cooler-than-expected consumer and producer price data easing fears of an immediate rate hike.

• US President Donald Trump arrived in Beijing on May 13, 2026, for a state visit and high-level talks with Chinese President Xi Jinping addressing major bilateral and global issues. • Key agenda items include US-China trade disputes, rare earth minerals supply chains, Taiwan's political status, artificial intelligence competition, and the ongoing Iran conflict. • The summit represents a critical diplomatic engagement aimed at managing US-China strategic competition and reducing military escalation risks.