On Monday (May 11), the US stock market Artificial Intelligence (AI) Winner Index rose by 1.97% to 400.80 points. Among the constituent stocks, Lumentum increased by 16.52%, Coherent rose by 13.25%, and Corning had the third largest gain with a rise of 10.94%. Dell and Super Micro Computer led the declines.

According to Freddie Mac data, the 30-year fixed mortgage rate has risen to 7.4%, the highest level in nearly three years. Data from real estate brokerage Redfin shows that the volume of existing home pending sales in September fell 4% month-on-month, marking the largest single-month drop in over three years and hitting the lowest level since 2014. Nearly one-fifth of sellers have reduced prices, and the home purchase contract cancellation rate has reached a record high of 14.5%. Inventory levels have risen to the highest since March 2020, but high financing costs continue to constrain transactions.