<div id="readability-page-1"><div> OPENING CALL Stock futures where lower and oil futures were rising early Monday after Trump said &#34;the clock is ticking&#34; for Iran. Trump said Iran &#34;better get moving, FAST, or there won't be anything left of them,&#34; in a social-media post on Truth Social late Sunday. &#34;TIME IS OF THE ESSENCE,&#34; he added. That came after a drone attack set off a fire near the United Arab Emirates' nuclear-power station. With the war now in its 80th day and diplomacy showing few signs of progress, investors are growing concerned that the disruption to energy markets poses a more serious threat to the global economy. Wall Street is coming to terms with the idea that the Federal Reserve may end up hiking interest rates to deal with price pressures. Traders think there's a 54% chance that the Fed raises borrowing costs at least once by the end of the year, according to the CME FedWatch tool. A week ago, the odds of that happening stood at less than 1%. Nvidia's results on Wednesday may be the only event that could shift the narrative, given that the chip maker tends to serve as an AI bellwether. Big retailers including Walmart and Home Depot will also report. Investors are also expecting SpaceX to file a prospectus for its initial public offering sometime this week-in what could be one of the largest ever IPOs. Meanwhile, China's economy unexpectedly weakened. Consumption, investment and real estate all stumbled, highlighting stubborn areas of weakness in the world's second-largest economy, even as exports continue to climb. Stocks to Watch Dominion Energy is in talks to be acquired by NextEra Energy, in what would be one of the largest deals of the year. Shares climbed 12% premarket, while NextEra's edged lower. UnitedHealth Group dropped 5% premarket after Berkshire Hathaway disclosed late on Friday it eliminated its stake in the company. Berkshire also said it bought shares of Delta and Macy's, helping propel the companies' stocks higher before the bell. Regeneron fell more than 10% premarket after it said late on Friday that a late-stage clinical trial for a melanoma treatment failed to meet its goals. Watch For: Canada financial markets closed for Victoria Day/Patriot's Day holiday Today's Top Headlines/Must Reads: -The World Can't Get Enough U.S. Energy, Keeping Prices High for Americans -Move Over CoreWeave, Here Comes Nebius -Suspicious Betting in Washington Is on the Rise-and Authorities Are Playing Catch-Up MARKET WRAPS Forex: The dollar eased only slightly after reaching a near six-week high as a peace deal with Iran appeared no closer and investors bet on the Fed raising interest rates. Trump told Iran the &#34;clock is ticking&#34; and suggested renewed strikes if a deal isn't reached soon. The market is pricing a 70% chance of a Fed rate rise by December and fully pricing a move by March 2027, LSEG data show following a batch of higher-than-expected price data last week. The euro rose against the dollar and ING said any further selloff in long-dated bonds would drive the euro down to $1.1570. &#34;High energy prices and now higher long-dated interest rates are a headwind to growth.&#34; Sterling rose against the dollar, but was at risk of renewed losses as U.K. political uncertainty could persist for some time, ING said. Bonds: Treasury yields rose --extending Friday's moves. &#34;There has been a dramatic shift in the expectations for U.S. monetary policy as the market are now pricing in a hike in 2026,&#34; Danske Bank said. ING said momentum looked set to take global yields higher and there was little pushing against that trend for now. &#34;Markets are starting to reconsider the idea of a short-lived inflation bout and are increasingly pricing in more lasting inflation.&#34; Goldman Sachs said Treasurys had been a poor diversifier since the end of February. &#34;Continued uncertainty around the Iran conflict and supply shock remains an impediment to nominal duration's ability to dampen day-to-day portfolio volatility, which can sustain greater risk premium in the short term.&#34; However, the broader trends of growth optimism priced into risk markets and clearer build-up of inflation risk premia along the yield curve improved the value proposition of Treasurys as a medium-term hedge, it added. RBC BlueBay Asset Management continued to favor inflation-linked bonds , but it hadn't really strong views on market direction and curve shape with respect to Bunds and Treasurys. Energy: Oil trimmed gains, though stalled efforts to end the Iran war and escalating tensions in the Middle East kept the risk premium high. &#34;The oil market continues to reprice ongoing supply disruptions, with last week's Trump-Xi talks yielding no tangible progress in the Middle East,&#34; ING said. &#34;If anything, re-escalation risks are increasing.&#34; Meanwhile, the U.S. allowed a sanctions waiver that allowed countries to buy Russian seaborne oil to lapse, despite tightening market conditions. Metals: Gold prices fell on the inflation concerns. &#34;The lack of progress toward a U.S.-Iran agreement and renewed threats from President Trump against Iran lifted oil prices further, increasing expectations that central banks may keep interest rates elevated or even raise them,&#34; MUFG said. Traders will now focus on the release of Fed meeting minutes for more clues on the rate outlook. <pre> TODAY'S TOP HEADLINES </pre> Anglo American to Sell Australian Steelmaking Coal Assets for Up to $3.875 Billion Anglo American said it agreed to sell steelmaking coal assets in Australia to mining company Dhilmar for up to $3.875 billion in cash, pushing to simplify its portfolio ahead of a merger with Teck Resources. The deal with privately held Dhilmar comprises a $2.3 billion upfront cash payment, and up to $1.575 billion in price-related additional fees. London-listed Anglo said it will use the cash proceeds to pay down net debt. Baidu's Profit Slides Again Amid Slow AI Payoff Baidu recorded another sharp profit drop and a fourth straight quarter of revenue declines as China's dominant search-engine operator continues to try to reinvent itself as an AI company. The Beijing-based company, once called &#34;China's Google,&#34; has been investing heavily in artificial intelligence, self-driving cars and chip development as its traditional advertising business slumps. AstraZeneca Gets U.S. Approval for Hypertension Drug AstraZeneca said it received U.S. approval for a new hypertension treatment, getting the green light to launch a drug the U.K. pharmaceutical company expects to generate multibillion-dollar annual sales at its peak. The drug, known until now as baxdrostat, will be marketed under the brand name Baxfendy, the company said Monday. The approval expands AstraZeneca's cardiovascular, renal and metabolism portfolio shortly after diabetes drug Farxiga-its biggest product in that therapeutic area and the bestselling medicine in the company's history-went off patent in the U.S. Australia Orders Chinese Investors to Sell Northern Minerals Shares Australia's government has ordered several shareholders in rare-earths company Northern Minerals to sell some or all of their stakes, the second time in two years it has intervened to force China-linked investors from the critical minerals company citing national-interest grounds. Australian Treasurer Jim Chalmers on Monday said he had issued orders for six shareholders to divest certain interests in the company, which is valued at around US$157 million. Four of the investors rank as Northern Minerals' largest shareholders, according to Iress data. Ryanair Shares Fall After Company Warns of Weaker Pricing, Late Bookings Ryanair Holdings shares dropped after the Irish budget carrier warned of weakening prices into the key summer season, last-minute bookings and a spike in fuel costs. Europe's largest airline group by market value said Monday that pricing eased somewhat in recent weeks due to economic uncertainty caused by higher oil prices and fears about potential fuel shortages, which are also prompting travelers to delay bookings. Activist Elliott Builds Big Stake in Life-Science Tools Supplier Bio-Rad Activist Elliott Investment Management has built a sizable stake in Bio-Rad Laboratories and plans to push the supplier of life-science tools and diagnostics products to boost its underperforming stock price, according to people familiar with the matter. The Economy Kevin Warsh Is Inheriting Is Not the One He Wanted Kevin Warsh won the Fed chair nomination with a double-barreled policy agenda for the central bank: lower interest rates and a smaller Fed balance sheet. As he takes the reins, economic conditions will make it tough for him to achieve either of those goals. A troubling rise in inflation over the past two months has left Fed policymakers in no mood to deliver the rate cuts that President Trump has demanded. The job market has shown signs of stabilizing, further undercutting the case for easing. China Says It Has Agreed With U.S. to Set Up Trade and Investment Bodies BEIJING-China said Saturday that it had agreed with the U.S. to establish bilateral boards of trade and investment, fulfilling one expected outcome of President Trump's visit to Beijing and solidifying a commercial truce between the world's two largest economies. China's Ministry of Commerce, in a statement published late Saturday in Beijing, also said that the U.S. had agreed to sell aircraft, aircraft engines and aircraft components to China, addressing one notable area in which the country continues to lag behind the U.S. U.S. Airstrikes Kill About 20 Islamic State Fighters in Nigeria (MORE TO FOLLOW) Dow Jones Newswires May 18, 2026 06:13 ET (10:13 GMT)Copyright (c) 2026 Dow Jones &amp; Company, Inc.</div></div>

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Stock futures declined while oil prices rose amid concerns over the Mideast conflict and inflation. Trump warned Iran to act quickly, raising fears of energy market disruptions. The Fed is expected to raise interest rates, with a 54% chance of a hike by year-end. Nvidia's upcoming results and SpaceX's IPO prospectus are key events to watch. Meanwhile, China's economy showed unexpected weakness, and Dominion Energy is in acquisition talks with NextEra Energy.

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North American Morning Briefing: Stock Futures Slip Amid Mideast, Inflation Pessimism