Dow Jones up 524 points (+1.57%) closing near highs. Dow up 558 at best. S&P 500 up 1.96%. NASDAQ up 2.43%. VIX Volatility Index down 9.6%. In Europe, Stoxx 50 +0.2%, FTSE -0.3%, CAC +0.2%, and DAX +0.03%. SPI Futures are up 55 points (+0.75%).

• ASX to rise, Meta leads tech rally in US. Earnings season boost offsets economy worries.
• Short-term yields pop higher as debt ceiling, inflation worries fester.
• As U.S. megacaps soar, some investors are wary of rising valuations.
• Amazon revenue beats on stable online demand, cloud strength.
• Intel says margins will recover in second half of 2023, shares rise.
• Deutsche Bank to cut 800 jobs after strong first quarter.
• US economic growth slows in first quarter as businesses draw down inventories.
• Travel demand strong, but U.S. carriers fret over aircraft delivery delays.
• BOJ chief Ueda faces communication test at debut policy meeting.
• Democrats, Republicans dig in on debt-ceiling standoff after House action.
• Russia says OPEC+ sees no need for further oil output cuts.
• Copper rebounds from near four-month low on China, strong dollar.
• Gold dips as rate hike bets hold despite weak data, dollar gains.
• Nickel faces huge supply glut as Indonesian output booms.

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