Trending Market News

German consumer goods maker Henkel is in advanced talks to acquire U.S. hair care brand Olaplex in a deal valued at approximately $2 billion. The acquisition could be announced in the coming days, according to Bloomberg reports. The deal would expand Henkel's presence in the premium hair care market.

• The transaction values Olaplex at around $2 billion
• An announcement could come within days as negotiations are in advanced stages
• Neither Henkel nor Olaplex immediately responded to requests for comment on the reported acquisition

Valero Energy began restarting its 380,000 barrel-per-day Port Arthur, Texas refinery on Wednesday, two days after an explosion at a diesel hydrotreater unit forced a complete shutdown. The damaged 47,000-bpd hydrotreater will remain offline for repairs while other units are brought back online. The incident highlights operational risks at major U.S. refining facilities.

• The explosion on Monday night shut down 14 units including the 210,000-bpd crude distillation unit, the refinery's larger CDU that converts crude oil into feedstocks
• Key production units offline include a 75,000-bpd fluid catalytic cracking unit, 57,000-bpd hydrocracker, and 100,000-bpd coker used for diesel and gasoline production
• Valero plans a cautious restart to avoid further explosion or fire risks as production is restored at the idled facility

Australia's Lynas Rare Earths has partnered with South Korea's LS Eco Energy to produce rare earth metals and magnets. LS Eco Energy will convert Lynas's rare earth materials into metals in Vietnam and manufacture permanent magnets in Virginia, U.S. This partnership addresses critical supply chain needs for rare earths used in electronics, electric vehicles, and military systems.

• Lynas is the world's largest rare earth producer outside China, reducing dependence on Chinese supply chains
• LS Eco Energy, a unit of major cable maker LS Cable & System, will process materials in Vietnam and manufacture magnets in the United States
• Rare earth magnets are essential components in devices ranging from iPhones and appliances to F-35 jets and electric vehicles

Shareholders filed a class action lawsuit against Super Micro Computer (SMCI), alleging the company concealed its dependence on sales to China that violated U.S. export laws. The lawsuit follows criminal charges against co-founder Wally Liaw and others for allegedly using a Southeast Asian intermediary to sell $2.5 billion worth of Nvidia chip-equipped servers to China. Super Micro's stock plunged 33% after the criminal charges were announced, erasing $6.1 billion in market value.

• Criminal prosecutors allege that Liaw and an associate directed a Southeast Asian company to buy $2.5 billion of servers with Nvidia chips in 2024-2025, circumventing U.S. export restrictions to China
• Super Micro's stock dropped 33% following the criminal charges announcement, wiping out approximately $6.1 billion in market capitalization, and Liaw subsequently resigned from the company's board
• The civil lawsuit targets Super Micro, CEO Charles Liang, and CFO David Weigand, seeking damages for investors between April 30, 2024, and March 19, 2026, while neither Super Micro nor Nvidia face criminal charges

Elon Musk's legal team is demanding Delaware Court of Chancery Judge Kathaleen McCormick recuse herself from two Tesla-related lawsuits, alleging bias after she reportedly used an emoji to support a social media post about a separate verdict that could cost Musk upwards of $2 billion. McCormick previously ordered Tesla to rescind Musk's $56 billion pay package before being partially overturned on appeal.

• McCormick allegedly responded with an emoji to a post celebrating a San Francisco federal court verdict that could cost Musk over $2 billion, though she claims she did not read the full text
• Two active cases before McCormick involve Tesla directors' compensation and a consolidated shareholder lawsuit related to Tesla's $2 billion investment in xAI, which was later acquired by SpaceX
• Delaware's Supreme Court ruled in 2025 that McCormick's decision to void Musk's 2018 pay package was too extreme, prompting Musk to previously move his businesses' incorporation out of Delaware

Jefferies reported a 22% profit increase in Q1 2025, driven by strong dealmaking and underwriting activity, but took $17 million in losses from collapsed lender Market Financial Solutions and bankrupt auto-parts supplier First Brands. The results come amid speculation about a potential takeover by Japan's Sumitomo Mitsui Financial Group, though both parties have denied active acquisition talks.

• Investment banking net revenues rose 45% to $1.02 billion, benefiting from over $1 trillion in M&A deals announced year-to-date (up 27% from prior year)
• Jefferies reported $17 million in losses related to MFS and First Brands after adjustments, with First Brands exposure now at zero
• SMFG plans to increase its stake in Jefferies to 20% from 14.5% through a $913 million investment, fueling takeover speculation that both companies have denied

The White House is closely monitoring efforts to ensure safe passage for oil tankers through the Strait of Hormuz near Iran, though no specific timeline has been provided. Press Secretary Karoline Leavitt stated that gas prices are expected to decline once military operations in Iran conclude, citing the administration's focus on domestic energy production as a stabilizing factor.

• The U.S. is tracking tanker passage through the Strait of Hormuz 'very closely' but has not provided a timeline for when vessels can move freely through the critical shipping lane
• The Trump administration expects pump prices to decrease after current military operations in Iran end
• The administration argues that prioritizing domestic energy production will help stabilize fuel prices in the aftermath of the Iran conflict

President Donald Trump will meet with Chinese President Xi Jinping in Beijing on May 14-15, the White House announced. This marks a significant diplomatic engagement between the two leaders, with a reciprocal visit to Washington planned for later in the year.

• The meeting will take place in Beijing on May 14 and 15, 2026
• Trump and First Lady will host Xi for a return visit in Washington, D.C. at a date to be announced later this year
• The announcement ends speculation about when the long-awaited summit between the two leaders would occur

Indian IT services firm Infosys announced on March 25 that it will acquire two U.S.-based technology companies in all-cash deals totaling $560 million. The acquisitions include healthcare consulting firm Optimum Healthcare IT for $465 million and insurance technology company Stratus for $95 million, as disclosed in stock exchange filings.

• Optimum Healthcare IT acquisition valued at $465 million, representing the larger of the two deals and expanding Infosys's healthcare consulting capabilities
• Stratus, an insurance technology company, will be acquired for $95 million in the smaller transaction
• Both deals are all-cash transactions and were announced through formal stock exchange filings on Wednesday

Venezuela's oil production reached 1.1 million barrels per day in March 2025, according to state oil company PDVSA figures presented by the government. This represents a significant increase from January's 942,000 bpd. The country also reported increased domestic fuel production, with gasoline and diesel output rising to 166,700 bpd in 2025 from 146,200 bpd in 2024.

• Oil production increased approximately 17% from 942,000 bpd in January to 1.1 million bpd in March
• Gasoline and diesel production rose 14% year-over-year, reaching 166,700 bpd in 2025 compared to 146,200 bpd in 2024
• The production figures include crude oil, condensate, and natural gas liquids from state oil company PDVSA

A Los Angeles jury reached a verdict on March 25, 2026, in a landmark trial where a 20-year-old plaintiff accused Meta and Google's YouTube of causing social media addiction through addictive platform design. The outcome could influence thousands of similar cases brought by parents, attorneys general, and school districts against tech companies. The verdict comes amid mounting criticism over child safety on social media platforms and increased state-level regulation.

• The plaintiff focused on platform design rather than content, making it harder for Meta and YouTube to avert liability; Snap and TikTok settled with the plaintiff before trial began
• At least half of American teens use YouTube or Instagram, and the case could affect thousands of pending lawsuits against tech companies
• At least 20 states enacted laws on social media and children in the previous year, while a separate federal trial in Oakland and another state trial in Los Angeles are scheduled for summer 2026

Exxon Mobil has sent a team to Venezuela this week to evaluate the country's oil and gas resources and infrastructure, according to upstream head Dan Ammann at CERAWeek. This marks a potential shift after CEO Darren Woods previously called Venezuela lacking in investment protections, and comes nearly two decades after Exxon exited the country following asset expropriation in 2007.

• Exxon is assessing both Venezuela's oil resources and the current state of infrastructure, with short-term production increases possible but full industry rebuilding estimated to cost hundreds of billions of dollars and take years
• Venezuela's oil output has significantly declined due to underinvestment, falling from a peak of 3 million barrels per day when it was a major OPEC producer
• The evaluation comes after Exxon CEO's January criticism of Venezuela's investment protections reportedly drew criticism from U.S. President Donald Trump

Meta Platforms is laying off a few hundred employees on Wednesday across its Reality Labs division, social media teams, recruiting, and sales units, according to The Information. The cuts represent only a small fraction of Meta's nearly 79,000-person workforce as of December 31, and come amid the company's projections of $162-169 billion in total expenses for 2026, driven partly by elevated compensation costs to attract top AI talent.

• The layoffs affect Reality Labs (Meta's VR/AR division), social media teams, recruiting operations, and a smaller number in sales
• Meta's 2026 expense forecast ranges from $162 billion to $169 billion, with rising employee compensation costs tied to hiring AI talent
• The company employed nearly 79,000 people as of December 31, making these cuts a small percentage of total workforce

Former SEC Chair Jay Clayton stated that regulators would scrutinize unusual trading activity that occurred roughly 15 minutes before President Trump's announcement about halting strikes on Iranian infrastructure. Trading volume in S&P 500 and oil futures spiked around 6:50 a.m. Monday, before Trump's market-moving post. Clayton, now U.S. Attorney for the Southern District of New York, warned that authorities would reconstruct the activity to identify all participants.

• S&P 500 and oil futures volumes surged approximately 15 minutes before Trump's announcement about U.S.-Iran talks and halting strikes, raising concerns about potential insider trading
• Clayton noted that while cash equities markets have robust surveillance capabilities allowing detailed tracking of trades, commodities and futures markets present more complex monitoring challenges
• Clayton suggested Congress should clarify laws across all markets, stating 'the law is not as clear as it should be' regarding such trading activity, which he personally considers inappropriate

Google will introduce verified badges for investment apps on its India app store to help users identify legitimate trading platforms and avoid scams. The verification system will be limited to brokers and intermediaries registered with India's Securities and Exchange Board (SEBI), distinguishing authentic apps from fraudulent ones impersonating legitimate platforms.

• Only SEBI-registered brokers and intermediaries will be allowed to display the verified badge on Google's app store
• The initiative aims to combat investment scams by helping users distinguish legitimate platforms from fraudulent apps
• The move was announced by a senior SEBI official and represents a collaboration between Google and India's markets regulator

The Pentagon announced framework agreements with BAE Systems, Lockheed Martin, and Honeywell to significantly increase production of defense systems and munitions, describing the shift as moving to 'wartime footing.' The deals come more than three weeks after military actions by President Trump and Israel.

• Honeywell Aerospace will surge production of critical munitions components as part of a $500 million multi-year investment
• BAE Systems and Lockheed Martin will quadruple production of seekers for THAAD interceptors
• Lockheed Martin will accelerate production of Precision Strike Missiles under a new framework agreement

Toyota is recalling 144,200 vehicles in the U.S. due to a rearview camera malfunction that may prevent images from displaying when the vehicle is in reverse, creating a crash risk. The recall affects certain Lexus models from 2022-2026, and Toyota will update software or replace cameras free of charge.

• Affected models include 2022-2025 Lexus NX350 and NX250, 2023-2026 RX350, and 2024-2026 TX350 vehicles
• The defect prevents rearview camera images from displaying when vehicles are shifted into reverse, increasing collision risk
• Dealers will update software or replace the rearview camera as needed at no cost to owners

British online retailer ASOS reported a nearly 50% year-on-year increase in its first-half adjusted core profit on March 25, driven by strict cost controls as part of an ongoing business revamp. The significant profit improvement demonstrates the effectiveness of the company's cost-cutting measures amid challenging market conditions.

• ASOS achieved approximately 50% growth in adjusted core profit for the first half compared to the same period last year
• The profit surge was primarily driven by strict cost controls implemented as part of a broader business restructuring effort
• The results signal progress in ASOS's turnaround strategy for the struggling online fashion retailer

Merck is nearing an all-cash deal to acquire biotech company Terns Pharma for approximately $6 billion, according to Financial Times reporting. The talks are at an advanced stage and could conclude within days. Neither company has commented on the reported acquisition.

• The transaction is valued at roughly $6 billion in all-cash consideration
• Negotiations between Merck and Terns Pharma are at an advanced stage with a deal potentially closing in the coming days
• Both Merck and Terns Pharma declined to comment on the reported acquisition when contacted by Reuters

SpaceX is reportedly preparing to file for an initial public offering (IPO) as early as this week or next week, according to The Information. The company could aim to raise more than $75 billion in what would be one of the largest public offerings in recent years, with individual investors potentially receiving over 20% of the allocation.

• SpaceX plans to file its IPO prospectus with regulators within the next one to two weeks, citing a person with direct knowledge
• Advisers predict the company could raise more than $75 billion in the offering
• The individual investor portion may exceed 20%, though final allocation percentages have not been determined