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Cerebras headlines a busy IPO week with surging investor demand. (0:17) Applied Materials faces AI demand questions. (1:12) April CPI arrives with energy prices driving inflation concerns. (1:55)

As earnings season winds down, attention is shifting to the IPO market.

AI chipmaker Cerebras Systems (CBRS) headlines a busy week for new listings.

Reports indicate the company may raise its price range to $125 to $135 per share as soon as Monday, lifting the potential proceeds to about $3.78B from $3.5B. The deal has reportedly attracted orders more than 20 times the shares available, and the range could still move higher.

Cerebras plans to sell 28M shares on the Nasdaq under the ticker CBRS, with Morgan Stanley, Citigroup, Barclays and UBS leading the underwriting syndicate.

Also expected to begin trading are geothermal developer Fervo Energy (FRVO), which has a data center partnership with Google (GOOGL), and data center REIT Blackstone Digital Infrastructure Trust (BXDC), both with projected valuations north of $5B.

Other IPOs slated for the week include GMR Solutions (GMRS), EagleRock Land (EROK), and Riku Dining Group (RIKU).

On the earnings calendar, Applied Materials (AMAT) takes center stage Thursday.

Investors are looking for another beat-and-raise quarter from one of the market’s key AI infrastructure beneficiaries.

The primary growth drivers remain gate-all-around transistor demand and high-bandwidth memory. AMAT’s $5B EPIC Center initiative is also in focus, with investors watching for updates on customer co-development, commercialization timelines, and the strength of AI-related demand.

China remains the principal risk. Management has already flagged a potential $600M revenue headwind in FY2026 tied to tighter U.S. export restrictions.

Elsewhere this week:

Simon Property Group (SPG) reports Monday, Oklo (OKLO) Tuesday, and Tencent (TCEHY), Cisco (CSCO), and Alibaba (BABA) on Wednesday.

On the economic front, the April consumer price index arrives Tuesday, with the headline rate expected to rise to 3.6% while core inflation holds near 2.6%.

Wells Fargo economists say elevated energy prices tied to Middle East tensions are beginning to generate broader spillovers.

“Energy goods are poised for a 6% monthly gain as higher crude prices continue to pass through to the pump,” they wrote. “Food at home is likely to accelerate after March’s pullback, with grocery prices strengthening later this year amid rising transportation and fertilizer costs.”

They added that services inflation, excluding shelter, could run hot as higher jet fuel prices push airfares higher.

Seeking Alpha analyst Chris Lau said a hotter CPI print would increase the odds of tighter policy, though Fed officials will need to assess whether energy-driven inflation tied to the Strait of Hormuz proves transient or persistent.

In the news this weekend, Lumentum Holdings (LITE) is set to join the Nasdaq-100 (NDX) (QQQ), replacing real estate services firm CoStar Group (CSGP) later this month.

Nike (NKE) is facing a proposed class action lawsuit alleging it failed to refund tariff-related costs passed on to customers through higher prices.

The case is part of a broader wave of lawsuits against U.S. companies after the Supreme Court ruled against sweeping tariffs imposed under the International Emergency Economic Powers Act last year.

In the federal complaint, plaintiffs argue Nike is not entitled to retain the “significant” refunds it is expected to receive following the ruling. Nike has said the tariffs forced it to pay roughly $1B in import levies.

And for income investors:

Apple (AAPL) goes ex-dividend Monday, paying out May 14.

Visa (V) goes ex-dividend Tuesday, with a June 1 payout.

Target (TGT) goes ex-dividend Wednesday, also paying out June 1.

Delta (DAL) goes ex-dividend Thursday, with a May 28 payout.

American household budgets are under pressure from higher gas prices and new data shows that consumers are turning to credit to cushion the blow of elevated fuel costs.

A report by the Bank of America Institute found that lower-income households saw the share of their incomes spent on gas rise to 4.2%, up from 3.9% a year ago and the highest level for the month of March since 2022, based on internal Bank of America customer deposit data that’s been aggregated and anonymized. By contrast, the average household across income groups spent about 3.1% of their income on gas in March, an increase from 2.8% relative to the same time last year.

Additionally, about 10% of lower-income consumers spent more than 10% of their household income in March on gas as prices jumped amid the Iran war constraining oil shipments from the Middle East, compared with just 6% of higher-income households.

“Lower-income households spend more as a share of their income on gas just because they have less room for discretionary spending than middle- and higher-income households,” David Tinsley, senior economist at the Bank of America Institute, told FOX Business. “Those two things together mean that the rising gasoline prices we’ve seen really squeezes lower income households the most.”

GAS PRICES SURGE PAST $4.50 NATIONALLY AS IRAN TENSIONS PRESSURE DRIVERS

The Bank of America Institute found that American households, particularly at lower income levels, are seeing their budgets squeezed by higher gas costs. (M. Scott Brauer/Bloomberg via Getty Images)

The war in Iran caused the price of oil to rise above $100 a barrel after trading in the $70 range before the conflict began. That, in turn, caused gas prices to surge over 40%, with AAA’s national average rising to more than $4.50 a gallon. 

Similar gas shocks strained consumer budgets as the economy dealt with the financial crisis in 2008, and began its recovery in 2011 and 2012. It also surged in the wake of the COVID pandemic when Russia invaded Ukraine in 2022.

“The rise in gasoline as a share of income right now needs to be kept in some perspective. There were also much bigger rises and higher peaks in terms of gas as a share of income and a share of spending just after the financial crisis and also just after COVID,” Tinsley said. “So this is obviously a painful rise for people, no doubt, but it’s not as large as those other incidents.”

GAS PRICE SURGE HITTING LOW-INCOME HOUSEHOLDS HARDEST, FED STUDY FINDS

The Iran war has constrained the flow of oil from the Middle East, spurring a surge in gas prices that’s impacting consumers. (Giuseppe Cacace/AFP via Getty Images)

American consumers are seeing some relief through higher wages, although the scale of those gains varies across income groups and some consumers are turning to credit and buy now, pay later to manage their finances amid the squeeze.

Tinsley said that while higher-income households are seeing strong wage growth up over 5% year over year, lower- and middle-income households aren’t seeing those gains. He noted that among lower-income households, the wage growth was just 1% through March, while it was 2% for middle-income households.

“There’s a couple of other things, wiggle rooms, that people have,” Tinsley said. “They could borrow more on their credit card, and when we look at where people stand relative to their credit card limits, we know they’re not particularly stretched right now relative to their credit card limits. The overall position is roughly where it was just before the pandemic.”

AVERAGE TAX REFUND UP NEARLY 11% FROM A YEAR AGO, IRS DATA SHOWS

“The other thing they could do is use buy now, pay later more,” he said, adding that more lower- and middle-income households are using those options to manage their budgets.

“The downside of that is, at the end of the day, buy now, pay later only smooths your spending over a couple of months, so it’s not going to make that big a difference to the overall story,” Tinsley said. “As it turns out, the people that tend to use buy now, pay later tend to have less borrowing space on their credit cards.”

Larger tax refunds have boosted Americans’ savings across income groups, Tinsley said. (Getty Images)

Tinsley said that one silver lining in the Bank of America Institute’s data is that households across income levels have more savings in the bank relative to before the COVID-19 pandemic.

“These households have about 10% higher deposits, savings deposits, in their accounts. The reason for that is largely tax refunds, so obviously the One Big Beautiful involved a lot of stimulus to consumers, a lot of which came through via refunds this year,” he said.

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“Refunds are running, give or take, around 10% higher and although people are spending some of that, they’re also banking some of it and that can sort of help them weather some of this gas shock for a time,” Tinsley added.

VanEck is a global asset management firm offering ETFs, mutual funds, private funds, model portfolios, institutional strategies, separately managed accounts, as well as UCITS funds. Since our founding in 1955, putting our clients’ interests first, in all market environments, has been at the heart of the firm’s mission. VanEck has a long history of looking beyond financial markets to spot trends that create meaningful investment opportunities. We were one of the first U.S. asset managers to give investors access to international markets, which set the tone for identifying asset classes and themes such as gold investing in 1968, emerging markets in 1993, and exchange traded funds in 2006 that later helped shape the investment industry. The firm oversees $161.7 billion in assets as of September 30, 2025. Disclosures: http://ow.ly/SZ9450N5qTJ.

CHICAGO — Basketball fans across the United States can tune in today to watch the 2026 NBA Draft Lottery, one of the most dramatic events on the league calendar where fortunes of rebuilding franchises can change in an instant. The drawing to determine the top picks in the upcoming draft is scheduled for 3 p.m. ET on Sunday, May 11, and will be broadcast live on ESPN and ABC, with streaming available on multiple platforms.

The 2026 NBA Draft Lottery features 14 teams with the worst records from the 2025-26 season competing for the right to select first in what scouts are calling one of the deepest and most talented draft classes in recent memory. The Washington Wizards, Indiana Pacers, Brooklyn Nets and Utah Jazz entered the day with the highest odds at the No. 1 pick, but the ping-pong ball results can dramatically reshuffle the order and reshape franchise trajectories for years to come.

ESPN’s coverage begins at 2:30 p.m. ET with pre-lottery analysis, followed by the live drawing at 3 p.m. Hosted by ESPN’s Mike Breen alongside analysts and NBA insiders, the broadcast will reveal the full lottery order in reverse, building suspense until the No. 1 pick is announced. For viewers who prefer to stream, the event is available live on the ESPN app, ESPN+, WatchESPN, and the ABC app for cord-cutters. Fubo, YouTube TV, Hulu + Live TV and Sling TV subscribers with the appropriate packages can also access the broadcast.

The NBA Draft Lottery determines the order for the first 14 selections. Teams that finished with the worst records receive the highest odds, but the system is designed to prevent tanking. This year’s lottery carries extra weight because several franchises are at critical crossroads in their rebuilds, and landing a potential franchise-changing prospect could accelerate their path back to contention.

What to Expect from Today’s Lottery

The Washington Wizards, who posted the NBA’s worst record at 17-65, entered with a 14% chance at the No. 1 pick. The Indiana Pacers and Brooklyn Nets also held 14% odds, while the Utah Jazz sat at 12.5%. Even teams lower in the order have realistic chances of moving up several spots, creating the possibility of major surprises when the results are revealed.

Top prospects expected to be selected early include BYU’s AJ Dybantsa, a versatile 6-foot-9 wing with elite scoring instincts, and Kansas guard Darryn Peterson, known for his dynamic playmaking and perimeter shooting. International talents and several college standouts round out a class that features size, skill and high-upside athletes ready to contribute immediately.

The lottery broadcast will include live reactions from team representatives in attendance, expert analysis on how the new order affects mock drafts, and insights into potential trade scenarios. Many teams have already positioned themselves through previous deals, meaning some lottery picks are owed to other franchises.

Historical Context and Lottery Drama

The NBA Draft Lottery was introduced in 1985 to discourage intentional losing. Over the years, it has produced unforgettable moments — from the Orlando Magic winning back-to-back lotteries in the early 1990s to the New Orleans Pelicans jumping to No. 1 for Anthony Davis in 2012. Last year’s lottery saw several dramatic rises that altered the balance of power in the Eastern and Western Conferences.

This year’s event comes at a pivotal time for the league. With the new collective bargaining agreement in place and several major stars entering their prime or twilight years, landing the right young talent can accelerate a rebuild or push a contending team over the top through smart drafting and subsequent trades.

How to Prepare for the Broadcast

Fans looking to get the most out of today’s coverage should:

• Tune in to ESPN or ABC at 2:30 p.m. ET for pre-show analysis.
• Download the ESPN app for mobile streaming if away from a television.
• Follow real-time reactions on social media using #NBADraftLottery.
• Have mock draft resources ready to see immediate projections after the order is revealed.

Cord-cutters have multiple streaming options, but ESPN+ alone will not carry the live lottery broadcast — a live TV streaming service is required for ESPN or ABC. Free trials are available on several platforms for those who want to watch without a long-term commitment.

Why the Lottery Matters So Much in 2026

The 2026 draft class is considered particularly strong at the wing and guard positions, areas where many lottery teams have clear needs. A team landing the No. 1 pick could add a potential All-Star cornerstone, while even moving up a few spots can yield a difference-making player.

For franchises like the Wizards, Pacers, Nets and Jazz, today’s drawing represents more than just draft position — it could define their direction for the next decade. Front offices have spent months scouting prospects, modeling scenarios and preparing trade packages contingent on the final order.

Analysts expect significant activity in the days following the lottery as teams with new positioning explore trades to move up or down based on their specific needs and target players.

Where to Find Additional Coverage

Beyond the main ESPN broadcast, detailed analysis will be available across sports media. Podcasts, YouTube channels and social media accounts from The Athletic, The Ringer, Bleacher Report and local team beat writers will provide instant reactions and deep dives. Fantasy basketball and betting communities are also heavily focused on the lottery results, as draft position directly impacts rookie projections.

For international viewers, the NBA League Pass and regional broadcasters will carry the event with local commentary. Check local listings for exact channel information in your area.

As the clock ticks toward 3 p.m. ET, anticipation continues to build. The 2026 NBA Draft Lottery promises drama, surprises and clarity for 14 franchises hoping to change their fortunes. Whether you’re a die-hard fan of a lottery team or simply love the unpredictability of the event, today’s broadcast offers compelling television and important implications for the future of the NBA.

Don’t miss the action — set your reminders, prepare your streaming devices and get ready for a lottery that could reshape the league landscape in dramatic fashion.

NEW YORK — Blackpink superstar Lisa is set to take center stage at the 2026 FIFA World Cup opening ceremony, according to multiple reports circulating Friday, marking a major coup for the global pop phenomenon and promising an electrifying start to the world’s most-watched sporting event.

Sources close to FIFA and the joint United States-Canada-Mexico organizing committee confirmed that negotiations with Lisa’s team have reached an advanced stage, with the Thai-born rapper and singer expected to deliver a high-energy solo performance during the July 2026 kickoff show in Los Angeles. The performance would represent one of the biggest musical moments in World Cup history and significantly boost the event’s appeal to younger, global audiences.

The news quickly spread across social media, with fans celebrating what many called a “perfect match” between the K-pop icon and football’s universal stage. Lisa, who has amassed hundreds of millions of followers across platforms, has previously collaborated with major brands and performed at large-scale events, but a World Cup opening ceremony would represent her biggest live audience to date.

FIFA has not officially confirmed the booking, but insiders say the decision aligns with the organization’s strategy to blend sports, music and culture for the 2026 tournament, which will be the first 48-team edition hosted across three countries. Previous World Cup opening ceremonies have featured global stars such as Shakira, Jennifer Lopez, Ricky Martin and Oprah Winfrey, setting a precedent for high-profile entertainment.

Lisa’s Rising Global Influence

Since breaking out with Blackpink in 2016, Lisa has become one of the most influential entertainers on the planet. Her solo career, including hits like “Lalisa” and “Money,” has topped charts worldwide, while her fashion partnerships with brands like Celine and her dance challenges on TikTok have made her a cultural force beyond music. A performance at the World Cup would further cement her status as a global ambassador.

Industry analysts say Lisa’s selection makes strategic sense. The 2026 World Cup is expected to draw record viewership, particularly in Asia, where football’s popularity continues to surge and Blackpink maintains an enormous fanbase. Her dynamic stage presence, sharp choreography and multilingual appeal position her perfectly to energize a worldwide audience.

Details of the Performance Still Under Wraps

While the exact setlist and duration remain confidential, sources indicate Lisa is preparing a medley that could include both solo tracks and Blackpink favorites. Production elements are expected to be spectacular, potentially incorporating advanced visuals, dancers and cultural references blending her Thai heritage with global football themes.

The opening ceremony itself will take place at SoFi Stadium in Los Angeles on July 11, 2026, just hours before the first match. Organizers have promised a celebration of unity, diversity and passion — themes that align closely with Lisa’s public image and massive international reach.

FIFA’s chief of global football development, Arsène Wenger, has previously emphasized the need to engage younger generations. “Music and football are universal languages,” Wenger said in earlier comments about entertainment plans. “We want the opening ceremony to reflect the joy and excitement of the beautiful game.”

Fan and Industry Reaction

The rumored booking has already generated massive excitement. Blackpink’s dedicated fanbase, known as BLINKs, flooded social media with celebration posts, trending hashtags and fan art imagining Lisa on the World Cup stage. Many football fans who may not follow K-pop also expressed intrigue at the crossover.

Music industry executives called the potential performance a smart move for both sides. “Lisa brings star power, cultural relevance and a truly global audience,” said one senior talent agent who was not involved in the negotiations. “For FIFA, it’s a way to make the opening ceremony feel modern and inclusive.”

Some critics, however, questioned whether a solo K-pop performance might overshadow the host nations’ own musical talents. Organizers are expected to feature additional artists from the United States, Canada and Mexico to create a balanced, multicultural show.

Broader Context for 2026 World Cup

The 2026 tournament will be historic in scale, with 48 teams competing across 16 host cities in three countries. FIFA has placed heavy emphasis on innovation, sustainability and fan experience. High-profile entertainment is seen as key to driving global interest and ticket sales.

Previous World Cups have used music to create unforgettable moments — Shakira’s “Waka Waka” became a global anthem in 2010, while the 2018 ceremony in Russia featured a memorable performance by Robbie Williams. Lisa’s rumored appearance would continue this tradition while pushing it into new cultural territory.

Blackpink as a group has already performed at major sporting events, including the 2019 Coachella headline slot and various award shows. Lisa’s solo career has taken off even further, with her dance-focused content and fashion influence making her one of the most marketable stars in entertainment.

What This Means for Fans

For BLINKs and football fans alike, the potential performance offers a rare convergence of two massive global passions. Tickets to the opening ceremony are expected to be in extremely high demand, and viewership projections for the broadcast could break records if Lisa’s involvement is confirmed.

Lisa herself has not publicly commented on the reports, maintaining her usual low-profile approach to upcoming projects. Her representatives have also remained silent, which is typical ahead of major announcements.

As anticipation builds, all eyes turn to official confirmation from FIFA and the Local Organizing Committee. If the reports prove accurate, Lisa’s World Cup performance could become one of the defining cultural moments of 2026 — a powerful fusion of music, sport and global youth culture.

The news also highlights the increasing intersection between K-pop and mainstream Western entertainment. Blackpink’s previous collaborations with Western artists and brands have paved the way for greater crossover success, and Lisa’s solo trajectory suggests even bigger stages ahead.

Whether performing a solo set or potentially reuniting with her Blackpink bandmates for a special appearance, Lisa’s presence would bring an undeniable energy to the World Cup’s grand opening. For millions of fans around the world, it would be a moment where sport and music perfectly collide.

As the countdown to July 2026 continues, this reported booking adds another layer of excitement to an already historic tournament. Football fans and music lovers alike will be watching closely for official word — and preparing to witness what could be one of the most memorable opening ceremonies in World Cup history.

LOS ANGELES — Wrestling legend Ric Flair unleashed a fiery public criticism of Luka Doncic on Sunday, accusing the Lakers superstar of failing to play through his hamstring injury despite earning $46 million this season, in a viral X post that has ignited heated debate about player toughness and the realities of modern sports medicine.

In the post, which quickly amassed more than 2 million views within hours, Flair tagged Doncic and wrote: “@lukadoncic, There Is Only One Word That I Can Possibly Say, And That’s DISAPPOINTED. 46 Million Dollars, And You Can’t Play. OMG, I Would Jump Off The Empire State Building With A Parachute For 46 Million Dollars A Year, And I Don’t Even Know How To Pull The Cord To Open It — But I Would Take My Chances.”

The tweet, accompanied by a photo of a visibly frustrated Doncic in a Lakers jersey, has drawn sharp backlash from fans defending the Slovenian guard’s recovery process while others sided with Flair’s old-school view of playing through pain.

Doncic has been sidelined since early April with a Grade 2 left hamstring strain suffered in the regular-season finale. The injury, which involves a partial tear, typically requires six to eight weeks of recovery. He has been progressing through rehabilitation, including running and light on-court work, but the Lakers have taken a cautious approach to avoid a setback that could sideline him for months or risk long-term damage.

The Lakers trail the Oklahoma City Thunder 3-0 in the Western Conference semifinals without their star acquisition. LeBron James has shouldered much of the offensive load, but the team has struggled to generate consistent scoring and spacing without Doncic’s elite playmaking and floor gravity.

Flair, a 16-time world champion and WWE Hall of Famer known for his larger-than-life persona, has a history of outspoken social media commentary. His post echoes a generational divide in sports, where older athletes often emphasize mental toughness and playing through pain while modern medical standards prioritize long-term health and career longevity.

Lakers coach JJ Redick defended the organization’s handling of the injury after Friday’s practice. “We’re not rushing Luka,” Redick said. “His long-term health is the priority. We want him back when he’s truly ready, not when the outside noise demands it.”

Sports medicine experts largely back the Lakers’ conservative timeline. Dr. Brian McKeon, an orthopedic surgeon who has treated numerous NBA players, noted that Grade 2 hamstring strains carry a high risk of re-injury if athletes return prematurely. “You can’t simply ‘tough it out’ with this type of tear,” McKeon said. “Pushing too soon can turn a six-week absence into a six-month problem.”

Fan reactions to Flair’s tweet have been sharply divided. Many Lakers supporters defended Doncic, pointing to the seriousness of the injury and the team’s medical staff’s guidance. “Ric Flair doesn’t understand modern sports medicine,” one popular reply read. “This isn’t wrestling — you can’t pop painkillers and limp through a partial tear.”

Others echoed Flair’s frustration, especially as the Lakers face elimination. “Flair is right,” one user wrote. “$46 million a year and you’re sitting while LeBron is out there at 41 carrying the team.”

The tweet has also sparked broader conversations about player accountability, contract value and the pressure on star athletes during the playoffs. Some analysts noted that high salaries come with expectations of availability, while others argued that protecting long-term health ultimately benefits both player and franchise.

Doncic has not publicly responded to Flair’s criticism. In his last comments on the injury, the two-time MVP expressed frustration with the slow recovery but emphasized he was following medical advice. “I want to be out there helping my teammates,” he said. “But I have to trust the process.”

The Lakers’ playoff struggles without Doncic have intensified scrutiny on the blockbuster trade that brought him to Los Angeles last offseason. The move was intended to create a championship window alongside James, but injuries have tested those plans at a critical time.

James, who has averaged nearly 28 points in the series, has shouldered an enormous burden. After Game 3, he declined to comment directly on external criticism of his teammate. “We focus on what we can control,” James said. “Luka is working hard to get back. When he’s ready, he’ll be a huge boost for us.”

The NBA has seen a shift in recent years toward more cautious injury management, driven by better diagnostics, advanced rehabilitation techniques and a greater emphasis on career longevity. High-profile cases like Kevin Durant’s Achilles tear and Kawhi Leonard’s repeated knee issues have reinforced the importance of proper recovery timelines.

Flair’s post, while provocative, taps into a nostalgic view of sports toughness that resonates with some fans but clashes with contemporary medical realities. The 76-year-old wrestling icon has frequently used social media to share unfiltered opinions on current events and athletes.

As the Lakers prepare for Game 4 on Sunday at Crypto.com Arena, the focus remains on survival without their Slovenian star. A 3-0 deficit is historically daunting, with only four teams in NBA history ever coming back from such a hole.

Whether Flair’s comments motivate Doncic or simply highlight the generational gap in sports culture, they have added another layer of drama to an already intense playoff narrative. For now, the Lakers must find answers on the court while their star continues his recovery on the sidelines.

The viral nature of Flair’s tweet underscores how quickly sports commentary can spread in the social media era. What began as one man’s opinion has become a national conversation about money, injury and what it means to be a professional athlete in 2026.

As the series continues and Doncic’s return timeline remains uncertain, one thing is clear: the pressure on both the player and the organization has never been higher.