The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1124 ET – Canadian Pacific Kansas City’s maintained guidance helped offset a light 1Q miss, with Scotiabank analyst Konark Gupta noting results were modestly below expectations due to several headwinds. Still, he says fundamentals “have already turned the corner in April,” with traffic, pricing and operating trends improving enough for management to reaffirm its full-year outlook. CP expects double digit EPS growth to resume in 2Q and strengthen into the back half as yields rebound, volumes accelerate and most segments improve. (adriano.marchese@wsj.com)

0932 ET – A rebound in the auto sector helped lift Canada GDP in February, and early estimates indicate output rose 1.7% annualized in 1Q—or a tad above the Bank of Canada’s estimate. CIBC Capital Markets economist Andrew Grantham points out that, overall, the GDP report was a mixed bag, with manufacturing-sector strength offsetting weakness elsewhere. Nine of 16 components tracked recorded declines, led by construction and the public sector. Even with this week’s jump in crude-oil prices, Grantham says there’s enough slack in the economy to keep core inflation fairly muted, and that underpins CIBC’s call for the Bank of Canada to hold the policy rate steady through 2026. (Paul.Vieira@wsj.com; @paulvieira)

0723 ET – Brent crude’s front-month price will appear to drop on Friday due to a futures-contract rollover, even though there is no change in underlying fundamentals. The June Brent futures contract expires Thursday, meaning that from Friday the July contract becomes the new front-month contract. The market is currently in backwardation, where near-term oil is priced higher than later-dated barrels. As a result, June is trading above July, so the switch in reference contract mechanically lowers the displayed front-month price. However, this doesn’t reflect any shift in physical supply, demand, or market conditions. The physical Dated Brent benchmark, which reflects real cargo pricing, won’t be impacted by the contract roll in the futures market. In afternoon European trading, Brent for June delivery is down 2.6% to $114.97 a barrel, while the July contract falls 1.1% to $109.18 a barrel. (giulia.petroni@wsj.com)

LOS ANGELES — LeBron James is once again defying age and expectations, shouldering the load for an injury-depleted Los Angeles Lakers team missing star Luka Doncic and key contributor Austin Reaves as they battle the Houston Rockets in the 2026 NBA playoffs, raising the question of whether the 41-year-old superstar can secure a victory tonight and keep championship hopes alive.

James has delivered vintage performances in the series, showcasing the scoring, playmaking and leadership that have defined his Hall of Fame career. With Doncic sidelined and Reaves out, the Lakers’ supporting cast has stepped up at times, but James’ ability to elevate those around him has been the difference in close contests. Tonight’s game represents another test of his endurance and the team’s resilience in a grueling Western Conference playoff path.

The Lakers entered the postseason with high expectations after acquiring Doncic, but injuries have forced adjustments. James has responded with increased usage, efficient scoring and defensive intensity rarely seen from players his age. His playoff record without star teammates is impressive, including a 7-4 mark in similar situations this season, but the Rockets’ physical style and home-court advantage make tonight’s contest particularly challenging.

Coach JJ Redick has leaned heavily on James while mixing in younger players and role players. The strategy has yielded mixed results, with wins coming against shorthanded opponents but losses exposing depth issues. James has been blunt about the situation, emphasizing chemistry and continuity while acknowledging the temporary nature of the current rotation. “We have to stay locked in and execute,” he said after a recent victory.

Analysts note James’ unique ability to carry teams in the postseason. At 41, he leads the Lakers in minutes, points and assists during key stretches. His basketball IQ and experience allow him to exploit mismatches and elevate teammates, but the physical toll is evident. The Lakers’ path forward likely requires James to maintain elite production while others contribute consistently — a difficult task without Doncic’s scoring punch.

The Rockets present a formidable challenge with their youth, athleticism and defensive intensity. Houston’s wing defenders can harass James, forcing him to work harder for shots. The series has been physical, with James absorbing contact while dishing assists and grabbing rebounds. A win tonight would give the Lakers momentum heading into subsequent games, but a loss could shift pressure onto James to perform at an even higher level.

Broader context shows the Lakers navigating a transitional roster. The addition of Doncic was meant to create a superteam dynamic with James, but injuries have delayed that vision. James has embraced the challenge, drawing comparisons to his 2018 playoff run with the Cleveland Cavaliers. His leadership has kept the locker room united despite setbacks.

Fan and expert reaction has been mixed. Some praise James’ longevity and clutch performances, while others question the sustainability and the team’s supporting cast depth. Betting markets reflect the uncertainty, with the Lakers as underdogs in several games. James’ playoff experience gives Los Angeles an intangible edge, but execution against Houston’s schemes will decide tonight’s outcome.

James has spoken about legacy and the desire to compete at the highest level. “Every night is a new opportunity,” he said recently. His performance tonight could extend the Lakers’ season and fuel speculation about another deep run. Without Doncic, the burden falls squarely on the four-time MVP, testing whether one of the greatest players ever can will his team to victory once more.

The Western Conference remains wide open. A Lakers win tonight would keep them alive against a tough Rockets squad and set up intriguing matchups ahead. James’ ability to adapt and elevate others has been his hallmark throughout two decades in the league. As the series progresses, his leadership will be pivotal in determining if the Lakers can overcome injuries and advance.

For Lakers fans, tonight represents another chapter in the LeBron era. Whether he can secure the win without Doncic remains the central question, but his track record suggests he will give everything to try. The outcome could shape the narrative of both the series and James’ late-career legacy.

NEW YORK — Skywatchers across the globe are turning their eyes upward tonight as the Flower Moon, the first of two full moons in May 2026, reaches peak illumination, kicking off a rare celestial double feature that includes a Blue Moon at month’s end and offers a spectacular reminder of the rhythms governing our solar system.

The Flower Moon, named by several Native American tribes for the abundance of blooming wildflowers in spring, will appear full Thursday night through Saturday, with its precise peak at 1:23 p.m. ET on Friday. While technically full for only a moment, the moon will look nearly identical over several nights, providing ample opportunities for viewing and photography. This month’s lunar event is especially noteworthy because it is followed by another full moon on May 31, qualifying the second as a Blue Moon — the traditional term for the second full moon in a calendar month.

Double full moons in a single month occur roughly every 2.7 years on average, making this a relatively uncommon treat for astronomers and casual observers alike. The phenomenon arises because the lunar cycle lasts about 29.5 days, slightly shorter than most calendar months. When a full moon falls early in a 31-day month, a second one can fit before the month ends. May 2026 perfectly aligns with this pattern, delighting sky enthusiasts and sparking increased interest in lunar observation events worldwide.

The Flower Moon’s cultural significance spans continents and centuries. Indigenous tribes in North America used it to mark planting seasons and the renewal of life. In other traditions, it is known as the Corn Planting Moon or Milk Moon. The name resonates particularly in the Northern Hemisphere, where spring flowers burst into color just as the moon shines brightly in the evening sky. Tonight’s moon will rise shortly after sunset, appearing large and golden near the horizon before climbing higher and taking on its brilliant white hue.

Weather permitting, viewers in urban areas may still enjoy the display despite light pollution, though darker rural locations will offer the best views. The moon will be visible all night, reaching its highest point around midnight local time. Photographers recommend using tripods and longer exposures to capture details on the lunar surface, including craters and maria. Social media platforms are expected to fill with images as enthusiasts share their captures from around the world.

Astronomers note that while full moons are common, the double feature adds excitement and educational value. Planetariums and observatories are hosting viewing parties and virtual events to explain lunar mechanics. NASA and other space agencies have highlighted the event on their outreach channels, encouraging public engagement with science. The Blue Moon on May 31 will be the third full moon in a season with four, sometimes called a seasonal Blue Moon, adding another layer of rarity.

The lunar cycle influences more than just night skies. Tides reach higher extremes around full moons, affecting coastal communities and marine life. Farmers and gardeners have long used lunar phases for planting guidance, with the Flower Moon traditionally associated with growth. Wildlife behavior, including nocturnal animal activity, often intensifies during brighter nights. Scientists continue studying these subtle but measurable effects on Earth’s ecosystems.

For many, tonight’s moon serves as a moment of reflection and wonder. In an era of constant digital distraction, celestial events like the Flower Moon remind people of humanity’s connection to the cosmos. Families and communities are gathering for moonlit walks, storytelling sessions and educational programs. The event’s accessibility — requiring no equipment beyond the naked eye — makes it inclusive for all ages and backgrounds.

Astrophotographers and amateur astronomers are particularly excited. Social media hashtags related to the Flower Moon and Blue Moon are trending, with users sharing tips for capturing the best images. Professional observatories are streaming live views for those unable to see the moon clearly from their locations. The double feature provides multiple opportunities throughout the month for engagement.

As May progresses, attention will shift toward the Blue Moon at month’s end. That event, occurring on May 31, will cap a month rich in lunar activity. Blue Moons carry no special astronomical properties beyond their rarity, but cultural traditions often associate them with magic, reflection and change. The back-to-back full moons create a memorable celestial bookmark for spring 2026.

Tonight’s Flower Moon arrives amid broader interest in space exploration. NASA’s Artemis program and private missions have heightened public fascination with the moon. Events like this bridge everyday observation with scientific discovery, inspiring younger generations to pursue STEM fields. Educators are incorporating the moon phase into lesson plans worldwide.

For those stepping outside tonight, the Flower Moon offers more than visual beauty. It provides a pause to appreciate natural cycles in an increasingly artificial world. Whether viewed from a bustling city rooftop or a quiet countryside field, the moon’s glow connects observers across distances and cultures. As the first act in May’s rare double feature, it sets the stage for continued wonder as the month unfolds.

RCEP, covering 30% of global GDP, is Asia’s strongest institutional shield against trade disruptions like Middle East conflicts affecting energy supplies. Practical reforms to this 15-member South-east Asian trade pact could enhance its effectiveness and regional benefits.

Key Points

• Middle East shipping disruptions severely impact Asia, which receives 84% of Hormuz Strait crude oil and 83% of LNG, driving up energy costs and inflation across the region.

• Asia lacks military solutions to such supply shocks, making institutional frameworks its primary defense against economic vulnerabilities.

• The Regional Comprehensive Economic Partnership (RCEP), a 15-member trade pact representing 30% of global GDP, serves as Asia’s strongest protective instrument.

The Vulnerability of Asia to Global Trade Disruptions

Asia’s heavy dependence on Middle Eastern energy makes it acutely vulnerable to geopolitical shocks. In 2024, 84 per cent of crude oil and condensate and 83 per cent of liquefied natural gas passing through the Strait of Hormuz were destined for Asian markets. Any conflict or disruption in that critical waterway translates almost immediately into higher energy costs, rising freight rates, and renewed inflationary pressures across the region, exposing the fragility of Asia’s supply chains and its limited ability to absorb external economic disruptions independently.

RCEP as Asia’s Strongest Institutional Shield

Since Asia lacks military capacity to counter such geopolitical shocks, its most reliable line of defense is institutional and economic rather than strategic. The Regional Comprehensive Economic Partnership (RCEP), a 15-member trade agreement, represents the region’s most powerful collective instrument. Accounting for approximately 30 per cent of global GDP, RCEP offers a framework through which member nations can coordinate responses, stabilize trade flows, and reinforce economic resilience. Strengthening this pact is therefore not merely a matter of trade policy but a critical element of regional security and stability in an increasingly volatile global environment.

Practical Reforms to Maximize RCEP’s Effectiveness

To fully realize RCEP’s protective potential, practical and meaningful reforms are essential. The agreement must evolve beyond its current structure to become more effective, inclusive, and operationally responsive to modern trade challenges. Streamlining regulations, reducing non-tariff barriers, and improving implementation mechanisms would significantly enhance the pact’s real-world impact. Member nations must commit to deeper cooperation and treat RCEP not as a static document but as a living framework capable of adapting to disruptions — whether from energy crises, shipping bottlenecks, or broader geopolitical realignments — ensuring the region’s long-term economic sovereignty and collective prosperity.

Other People are Reading

LOS ANGELES — Rita Wilson has opened up about the deeply personal requests she made to husband Tom Hanks during her 2015 breast cancer diagnosis and treatment, offering a rare glimpse into the emotional toll the disease took on their marriage and family while highlighting the couple’s enduring bond through crisis.

The actress and singer, married to Hanks since 1988, was diagnosed with invasive lobular carcinoma after a routine biopsy following an abnormal mammogram. She underwent a double mastectomy and reconstructive surgery, choosing to share her journey publicly to raise awareness. In a recent interview, Wilson recalled asking Hanks for two specific things as she faced uncertainty: to feel profound sadness on her behalf and to remain committed to their life together despite the challenges. “One is that you should be sad for a very, very long time,” she shared.

Wilson’s diagnosis came at a pivotal moment. The couple was promoting Hanks’ film “Bridge of Spies” when she received the news. She described the whirlwind of emotions — shock, fear and determination — that followed. Hanks was her rock, canceling commitments to be by her side. Wilson credits his unwavering support with helping her navigate surgery and recovery, emphasizing how their partnership deepened through adversity.

The requests Wilson made reflected her vulnerability. Asking Hanks to grieve alongside her acknowledged the shared impact of the diagnosis on their family. The second request, though less explicitly detailed in recent comments, centered on maintaining their life and love amid uncertainty. Wilson has spoken previously about the importance of emotional honesty in marriage during health crises, noting how Hanks’ presence provided strength without diminishing her own resilience.

The couple’s experience resonated widely when Wilson first shared her diagnosis in 2015. Her openness encouraged other women to prioritize screenings and seek early detection. Breast cancer remains one of the most common cancers among women, with survival rates improving significantly through advances in treatment. Wilson’s story highlighted the importance of family support systems in recovery journeys.

Wilson and Hanks have been married for nearly four decades, a Hollywood rarity. They first met on the set of the 1980s sitcom “Bosom Buddies” and reconnected years later. Their relationship has weathered career highs, public scrutiny and now health challenges. Wilson has described Hanks as her best friend and partner, crediting their strong foundation for helping them navigate her cancer battle.

Post-treatment, Wilson embraced a proactive approach to health. She has advocated for genetic testing, regular screenings and lifestyle choices supporting wellness. Her career continued with acting roles, producing and music projects, demonstrating resilience. She has used her platform to destigmatize cancer conversations, emphasizing hope and empowerment.

Hanks has spoken sparingly about the experience, respecting Wilson’s lead in sharing details. The Oscar winner has described the period as one of quiet strength and family unity. The couple’s two sons, Chet and Truman, were teenagers at the time, adding another layer of emotional complexity. Wilson has noted how the family grew closer through the ordeal.

The couple’s story aligns with broader trends in celebrity health advocacy. High-profile diagnoses often spark public awareness campaigns and increased screenings. Organizations like the American Cancer Society report surges in inquiries following announcements by stars like Wilson. Her willingness to discuss the emotional requests made to Hanks humanizes the experience beyond medical statistics.

Wilson’s recovery journey included physical rehabilitation and emotional processing. She has been candid about body image changes after mastectomy and reconstruction, challenging societal beauty standards. Her advocacy extends to supporting research and access to care, particularly for underserved communities. She has participated in fundraisers and awareness events, using her voice for positive impact.

Today, Wilson and Hanks continue sharing their lives with fans through projects and occasional public appearances. Wilson’s music career has flourished, with albums reflecting personal growth and resilience. The couple’s enduring partnership serves as inspiration, demonstrating how love and commitment can sustain through life’s most difficult chapters.

Medical experts praise Wilson’s approach as a model for patients. Open communication with partners, proactive health management and public advocacy can reduce isolation and stigma. Breast cancer treatment has advanced considerably since 2015, with personalized therapies improving outcomes. Wilson’s story remains relevant as a testament to hope and the power of support networks.

As Wilson reflects on that period, her message centers on resilience and gratitude. The heartbreaking requests made to Hanks during her battle underscore the emotional weight of serious illness on relationships. Yet their story ultimately highlights strength found in partnership, family and determination to move forward. Wilson’s openness continues inspiring others facing similar journeys, proving that vulnerability can coexist with power.

Here’s a look at how Bill Ackman’s newly listed stocks are performing since their public offering earlier this week—his Pershing Square hedge-fund management company (which carries the ticker PS) and his stock-picking fund Pershing Square USA (PSUS):