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May 20th - According to the Wall Street Journal, sources familiar with the matter revealed that Goldman Sachs is expected to be the lead underwriter for SpaceXs initial public offering (IPO). Morgan Stanley is also one of the lead underwriters for the IPO, but Goldman Sachs is expected to be listed first on the prospectus, which could be released as early as Wednesday. This arrangement is surprising given Musks close relationship with Morgan Stanley. Other banks leading the deal include Bank of America, Citigroup, and JPMorgan Chase.Sources say that Stellar (STLA.N) and Dongfeng plan to form a European joint venture, with Stellar holding a 51% stake. Stellar plans to manufacture Voyah electric vehicles for Dongfeng at its French factory.According to the Wall Street Journal, Goldman Sachs (GS.N) will serve as the lead underwriter for SpaceXs initial public offering.ZTO Express (02057.HK) reported first-quarter revenue of RMB 13.28 billion, a year-on-year increase of 22%. It projects its express delivery volume to grow by 10% to 13% year-on-year in 2026, reaching between 42.37 billion and 43.52 billion pieces.May 20 (AP) -- The U.S. Senate on Tuesday advanced a bill aimed at forcing President Trump to withdraw troops from the war with Iran. Since Trump ordered the attack on Iran in late February, Democrats have repeatedly pushed for a war powers resolution, demanding that Trump either obtain congressional approval to continue the war or withdraw troops. Republicans had previously been able to gather enough votes to reject these proposals, but Louisiana Senator Bill Cassidy (whom Trump supported in the recent primaries) cast the crucial vote, allowing the bill to move forward.

Two Trades to Watch: DAX, GBP/USD

Jimmy Khan

May 07, 2022 10:43


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The DAX is falling as industrial output declines.


After a slaughter on Wall Street that saw the Nasdaq finsh 5% down, European equities have begun in the red, extending losses from the previous day.


Fears of inflation, stagflation, and recession are weighing on the market as we approach the weekend. The DAX is expected to shed 1.4 percent this week, marking the fifth consecutive week of losses.


In March, German industrial output decreased -3.9 percent on a month-over-month basis, down from 0.2 percent in February and considerably below the -1 percent drop forecast. The negative report comes on the heels of a sharp drop in German manufacturing orders in March. The data represents the economic effect of the Russian conflict on Germany and the Eurozone as a whole.


Germany does not have any additional statistics due today. Sentiment and the US NFP announcement will affect European indexes.

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