Good morning NYC. Key highlights for 2026-05-14:
- The Nasdaq continues hitting records fueled by AI momentum, with South Korea experiencing intense investor FOMO-driven stock buying enthusiasm.
- Kevin Warsh was confirmed as Federal Reserve Chair amid geopolitical tensions highlighted by Xi Jinping’s blunt warning to Donald Trump regarding Taiwan during the US-China summit.
- JPMorgan reshuffled investment banking leadership amid broader industry shifts, while Citadel mandated relocation decisions for Hong Kong-based researchers amid strategic adjustments.
- The Roundhill Memory ETF became the fastest-growing ETF ever amid global AI investment fervor, reflecting heightened interest in memory-related equities worldwide.
- US-China trade relations showed cautious progress with China renewing US beef import licenses, signaling openness amid geopolitical uncertainties surrounding the Strait of Hormuz tensions.