This week, Bitcoin surged to a record high of $110,000, marking a new milestone for the cryptocurrency. Apple's valuation dropped below $3 trillion after US President Donald Trump's latest tariff threat. In the tech space, Elon Musk said Starlink may go public in the future, his X platform suffered outages, while Xiaomi unveiled its latest devices, the 15S Pro phone and Pad 7 Ultra.
Inflation data gave mixed signals. Eurozone inflation remained unchanged at 2.2% in April, while consumer confidence improved in May. In the UK, inflation jumped from 2.6% to 3.5%. Germany's economy grew by 0.4% in the first quarter, showing some momentum. Finance chiefs from the Group of Seven (G7) nations met to discuss global economic challenges.
On the corporate earnings front, major companies including Zoom, Target, Lenovo, Home Depot, Ryanair, Baidu, EasyJet, Xpeng and Intuit reported results. In sports, Tottenham won the Europa League title.
In politics and diplomacy, the UK reached a new deal with the EU aimed at helping British businesses, while Portugal's center-right government secured reelection and the US accepted a private jet gifted by Qatar for Trump's use. Trump also said his administration's Golden Dome project should be "fully operational" before his term ends. Meanwhile, the House passed his revised tax bill. Iran ruled out a deal with the US over uranium enrichment. Russia and Ukraine completed a second major prisoner swap, though Russian Foreign Minister Sergey Lavrov called the idea of a Vatican peace summit "unrealistic." Furthermore, this week's killing of two Israeli embassy workers in Washington sparked condemnation.
