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Wall Street News Breakfast FM-Radio | May 4, 2026

Wall Street News Breakfast FM-Radio | May 4, 2026

``` Morning Voice of Huajian Please upgrade to the latest version of the Jianwen APP, so you can successfully listen to the following audio. Market Overview Friday: * Tech stocks drove the S&P and Nasdaq to consecutive record highs, rising for five weeks in a row, marking the longest consecutive

OPEC+ agrees to increase production by 188,000 barrels per day in June, but it may only be a "paper number."

OPEC+ agrees to increase production by 188,000 barrels per day in June, but it may only be a "paper number."

``` OPEC+ has approved a third consecutive increase in production quotas, but this decision has almost no impact on actual supply until the blockade of the Strait of Hormuz is lifted. On May 3, according to Reuters, seven OPEC+ member countries have agreed in principle to raise the June production target

Memory is crucial for AI CPUs? Korean media: DRAM shortage will continue for another year

Memory is crucial for AI CPUs? Korean media: DRAM shortage will continue for another year

``` AI inference architecture is reshaping the computing power landscape, and the surge in CPU memory demand is expected to drive the DRAM supply gap to persist until 2027. On May 2, according to Korean media Sedaily, as the focus of the AI industry shifts from training to inference, CPUs are

Bank of America’s Hartnett: The current U.S. stock rally is supported by fiscal policy and AI; if financing costs rise, the market may reverse.

Bank of America’s Hartnett: The current U.S. stock rally is supported by fiscal policy and AI; if financing costs rise, the market may reverse.

``` Bank of America’s Hartnett believes the current sustained rise in US stocks is being driven by massive government fiscal spending and AI investment, forming a self-reinforcing "boom loop." However, there is a clear breaking point in this cycle—if the bond market collapses and long-term Treasury yields

Two years ago, Goldman Sachs research head questioned “AI spending too much, earning too little,” now admits “got it wrong,” but says “the shovels are fully priced in, now bullish on the cloud.”

Two years ago, Goldman Sachs research head questioned “AI spending too much, earning too little,” now admits “got it wrong,” but says “the shovels are fully priced in, now bullish on the cloud.”

``` In June 2024, James Covello, Head of Research at Goldman Sachs, once raised a soul-searching question in a report: “Generative AI: Spending Too Much, Earning Too Little?”. Nearly two years later, in April 2026, James Covello admitted he had been “wrong,” personally “marking to market” the valuations. On May 3,

Goldman Sachs partner: "The 'AI narrative' dominates the market, but don't forget that 'the cloud giants have already allocated 100% of their cash flow to capital expenditure.'"

Goldman Sachs partner: "The 'AI narrative' dominates the market, but don't forget that 'the cloud giants have already allocated 100% of their cash flow to capital expenditure.'"

``` Goldman Sachs partners’ latest warning: AI investment narratives are once again dominating market pricing, but "cloud giants have already allocated 100% of their cash flow to capital expenditure," and market breadth continues to deteriorate, while momentum factor crowding is approaching a five-year high. On May 3, Goldman Sachs

Next week's major events: US Nonfarm Payrolls, China's imports and exports, AMD and leading optical module companies' earnings reports.

Next week's major events: US Nonfarm Payrolls, China's imports and exports, AMD and leading optical module companies' earnings reports.

``` Overview of Major Financial Events for the Week of May 4th - May 10th, all times are Beijing Time: In terms of economic data, on May 8, the US April non-farm employment numbers are released, with market expectations of slower job growth. If data is significantly below expectations, it will