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On May 15, local time, the U.S. Supreme Court rejected a request by Virginia Democrats to restore a federal House of Representatives district map that was considered favorable to the Democrats. The ruling means that the relevant gerrymandering will maintain the status quo before the November midterm elections.

According to people familiar with the matter, Arm (ARM.O) will face a U.S. antitrust investigation involving chip technology.

Goldman Sachs is optimistic on gold and reiterated its end-2026 target of $5,400 an ounce. Goldman Sachs expects central bank gold purchases to increase, reaching an average of 60 tons per month by 2026. Goldman Sachs also said its updated 12-month moving average forecast showed central bank gold purchases of 50 tonnes per month in March, compared with its previous forecast of 29 tonnes per month.

On May 15, local time, the Federal Reserve issued a statement stating that current Chairman Jerome Powell will temporarily serve as "interim Chairman" until Kevin Warsh is officially sworn in as Chairman of the Federal Reserve. Powell's term as chairman expires on Friday.

According to the British Daily Telegraph: British ministers believe that if Burnham wins the Makefield by-election, Prime Minister Starmer may consider resigning as prime minister.

Market News: BlackRock’s private credit fund valuations are under investigation by the U.S. Department of Justice.