SK Innovation reported Q1 2026 consolidated operating profit of KRW 2.162 trillion, returning to profitability from losses in the prior comparable period, driven by recovery across its EV battery (SK On), lubricants, and chemicals businesses. The turnaround reflects easing battery pricing pressure and elevated energy margins during the Iran conflict cycle.
Charles Schwab ($SCHW), managing $12 trillion in assets for 35 million retail clients, launched direct spot Bitcoin and Ethereum trading on May 13, 2026 via its new Schwab Crypto platform. The launch puts Schwab in direct competition with Coinbase ($COIN) and Robinhood ($HOOD), arriving the same day JPMorgan filed with the SEC for a tokenized Treasury money market fund on Ethereum as the tokenized RWA market surpasses $32 billion.
HD Hyundai, South Korea's shipbuilding-energy conglomerate, reported first-quarter 2026 operating profit of KRW 2.835 trillion, up 120.4% year-over-year. The result reflects broad-based recovery across shipbuilding, oil refining, and heavy industry driven by LNG carrier demand and elevated refining margins from the Iran energy cycle.
South Korea's KOSPI closed at a record 7,844.01 (+2.63%) on May 13, led by Hyundai Motor (005380.KS) surging 9.91% to KRW 710,000 on robotics revaluation, with Hyundai Mobis up 18.43%. SK Hynix (000660.KS) gained 7.68% to KRW 1,976,000 as AI server investment expectations revived following Jensen Huang's reported China trip. Domestic investors net-bought KRW 3.57 trillion, absorbing KRW 4 trillion in foreign selling.
April U.S. Producer Price Index jumped 6.0% year-over-year (consensus: 4.8%) and 1.4% month-over-month (consensus: 0.5%), marking a four-year high for wholesale inflation. Core PPI hit 5.2% YoY against a 4.3% estimate, driven by energy price surge from the 11-week Iran-Gulf conflict. Bank of America pushed its first Federal Reserve rate-cut forecast to July 2027, with Kalshi prediction markets now pricing 47% odds of a hike before that date.
Nintendo (7974.T) fell roughly 8% after the company raised Switch 2 prices and cut its annual console sales forecast, citing a deepening memory chip supply crisis. The twin headwinds — higher component costs from the AI-driven NAND/DRAM demand surge compounded by Iran-Hormuz supply-chain disruption — squeezed Nintendo's hardware economics ahead of the Switch 2 launch.
Telehealth platform Hims & Hers ($HIMS) fell roughly 15% after reporting a first-quarter net loss and issuing guidance that fell short of market expectations. The results reflect mounting pressure on the company's compounded GLP-1 drug business following FDA restrictions on compounded semaglutide, with investors focused on the pace of revenue diversification.
Mirae Asset Securities reported Q1 2026 net income of KRW 1.0019 trillion (+288% year-over-year) and operating income of KRW 1.3750 trillion (+297%), becoming the first Korean securities firm to surpass the KRW 1 trillion threshold on both metrics in a single quarter. An KRW 804 billion fair-value gain on SpaceX and other global holdings was the primary catalyst, while brokerage and wealth management both set all-time records. Total AUM grew KRW 176 trillion in under six months, reaching KRW 776 trillion.
eBay's board rejected GameStop CEO Ryan Cohen's unsolicited $56 billion offer of $125 per share in a cash-and-stock deal, calling it neither credible nor attractive in a formal letter from chairman Paul Pressler. Moody's labeled the deal credit negative for eBay due to the implied leverage surge, while Wall Street analysts questioned the strategic rationale. Cohen warned he may take the bid directly to eBay shareholders.
U.S. consumer prices rose 3.8% annually in April — 0.1 percentage point above the Dow Jones consensus and the highest since May 2023. Energy prices surged 17.9% year-over-year as WTI oil topped $100 per barrel amid the Iran-Hormuz conflict, while real average hourly wages turned negative on an annual basis for the first time in three years. CME Group data shows markets now pricing roughly 30% probability of at least one Fed rate hike before year-end.
Brent crude rose to $103.99 (+2.67%) on May 11, touching an intraday high of $106.00, after President Trump declared Iran's latest peace offer 'totally unacceptable.' Morgan Stanley warned a Hormuz closure could push Brent to $150/bbl by summer. Pimco flagged the risk that a prolonged Iran conflict could force the Federal Reserve to raise rates.
Barrick Mining posted Q1 2026 adjusted EPS of $0.98, beating the $0.81 consensus by 20.9%. Revenue of $5.22 billion exceeded the $4.84 billion estimate by 7.9%. Gold production of 719,000 oz surpassed the upper end of the 640,000–680,000 oz guidance range, and full-year 2026 production guidance was maintained.