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German Chancellor Merz does not intend to resign, despite CDU suffering a disastrous defeat in today's elections in Berlin and the state of Mecklenburg-Western Pomerania. According to exit polls, the right-wing AfD won in Mecklenburg, while the left-wing Die Linke won in Berlin.
S&P 500 back within 1% of its record as oil retreats. Indexes up 1.4%, Nasdaq 2.0% Monday, chips leading — AMD +9% on a 10% AI chip price hike, Intel +9.7% on Micro LED packaging. Brent slid 3% to ~$100 as Aramco restores half its East-West pipeline. #Markets #Semiconductors
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