US Stocks Eye Longest Stretch of Weekly Gains Since 2023 | Bloomberg Brief 5/22/2026

Summary

The episode covers US stocks approaching their longest weekly gain streak since 2023, driven by AI optimism and potential Iran peace deal. Key stories include the Pentagon reconsidering a rare earths loan, Estee Lauder and Puig merger talks collapsing, and an interview with Priya Misra on the economic impact of prolonged Middle East conflict and Fed policy. Other segments discuss Richemont's strong sales, Lionel Messi becoming a billionaire, and geopolitical developments.

• US stocks on track for eighth straight weekly gain amid AI and Iran deal optimism.
• Pentagon weighs scrapping $80 million loan to rare earths refiner ReElement Technologies.
• Estee Lauder and Puig merger talks collapse, sending Puig shares down sharply.
• Priya Misra warns of nonlinear consumer effects if Strait of Hormuz stays closed and oil prices remain high.
• Richemont reports strong sales driven by US demand for jewelry, benefiting from shift away from handbags.
• Lionel Messi reaches billionaire status through salary and bonuses, unique among active athletes.
• Fed Governor Waller and new Fed Chair Kevin Warsh set to speak, markets eye interest rate path.
• China restricts more chemicals as part of fentanyl crackdown, signaling cooperation with US.