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Crude oil prices fluctuated as conflicting political statements clouded the timeline for a resolution over the Strait of Hormuz, offsetting pressure from rapidly depleting global stockpiles.

So-Young International (NASDAQ:SY) posted record first-quarter revenue that surpassed internal targets, propelled by a surge in consumer demand across its brick-and-mortar medical aesthetic centers, even as aggressive expansion spending weighed on near-term profitability.

Sander van 't Noordende, CEO of recruitment giant Randstad, says their base case is that 7-8% of jobs will be replaced by artificial intelligence over the next 5 to 10 years. However, Van 't Noordende says he does not see the "doomsday scenario" that some predict. In an interview on "The Pulse with Francine Lacqua" on May 21, van 't Noordende said AI will be a "wave" over the next decade, but also presents many opportunities, enabling many workers to be more productive, and requires massive infrastructure.

BlackRock Chief Investment Strategist Wei Li says artificial intelligence is driving a lot of the major earnings upgrades in equity markets. "We can look at AI lifting the whole market, but identifying where the bottlenecks are is a good active play," Li tells Bloomberg Television.

Rocket Lab (NASDAQ:RKLB) has been awarded a $90 million contract by the U.S. Space Force’s Space Systems Command to design, build, and operate two geostationary orbit (GEO) satellites, signaling an expansion of the company’s manufacturing footprint into higher-altitude national security systems.

Ascentage Pharma (NASDAQ:AAPG) announced that abstracts for six of its clinical studies have been published ahead of the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting, outlining early-phase therapeutic activity across its core pipeline of targeted oncology candidates.

HUTCHMED (NASDAQ:HCM) announced that its targeted oncology candidate, savolitinib, achieved its primary endpoint in a registration-enabling Phase II trial for patients with a specific type of advanced gastric cancer.

Tobias Adrian, the International Monetary Fund's Financial Counsellor and Monetary and Capital Markets Director, discusses the response by global economies to the supply shocks created by the Iran war as well as efforts to achieve a coordinated response to cyberattacks, as AI accelerates the threat. Adrian joined Lizzy Burden on Bloomberg Daybreak Europe.

The Saudi wealth fund is looking to combine its ports, rail and shipping holdings into a logistics giant. Bloomberg's Omar El Chmouri reports.

The proposed multibillion-dollar tie-up between Puig and Estee Lauder fell apart due to makeup artist Charlotte Tilbury's demands regarding her compensation in the deal, according to people familiar with the matter. The news caught investors by surprise given discussions between the two had been progressing since March. Bloomberg Opinion's Andrea Felsted has more. Her opinions are her own.

Anna Edwards, Guy Johnson, Tom Mackenzie and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade."

Richemont's full-year sales rose more than expected as shoppers splurged on its pricey Cartier jewelry. Sales climbed 11% on a constant currency basis in the fiscal year ended in March, compared with the 9.78% estimate of analysts surveyed by Bloomberg. Bloomberg Opinion's Andrea Felsted has more. Her opinions are her own.