Amy Morris

Retail sales rose at a slower pace in April, suggesting high gasoline prices prompted some consumers to temper their spending at other merchants.

Bloomberg's Michael McKee.

Bloomberg's Michael McKee.

The number of Americans filing for jobless aid rose last week to 211,000 despite remaining historically low.

The labor market appears to be stuck in a low-hire, low-fire state, keeping the unemployment rate at 4.3%.

A revival of the AI trade continues to fuel a momentum in stocks.

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The S&P 500 up 0.8%, NASDAQ up 0.9%, the Dow up 0.8%.

The 10-year Treasury yield at 4.44 percent and the two-year yield at 3.98 percent.

Ford shares are more than 7 percent higher.

The automaker's shares continue to rise after a Morgan Stanley note highlighted Ford's energy storage business and potential tie-ups with hyperscalers.

and Cisco shares jumped after the company delivered a better-than-anticipated sales forecast and announced plans to cut thousands of jobs to focus on the fast-growing AI market.

Shares of Cisco have advanced now 14%.

AI chipmaker Cerebrus has raised more than $5.5 billion in what's become this year's biggest IPO.

Shares are indicated to open at $380 each, 105% above the initial offering price of $185.

Shares will trade on Nasdaq under the symbol CBRS.

Sources tell Bloomberg a group led by Silver Lake executive Egon Durbin is acquiring 25% of the Las Vegas Raiders.

The equity being sold is from minority investors and not controlling owner Mark Davis.

When the deal closes, the consortium is expected to own close to 40% of the NFL team.

Round one of the PGA Championship is underway at Aronamin Golf Club.