<div id="readability-page-1" class="page"><div> The NACHO Trade Is Taking Shape on Wall Street Oil prices and Treasury yields are rising, while an extended chip-stock rally helped nudge indexes to new records. ---- Japan Finance Minister Confirms Continued Coordination with U.S. on Forex The U.S. and Japan have reaffirmed their commitment to working closely together to monitor the currency market, Japan's finance minister said after meeting with Treasury Secretary Scott Bessent. ---- U.S. and Iran Are Locked in a Stalemate That's Neither Peace Nor War The two sides are far apart from a deal but also don't want to resume fighting. ---- As Trump heads to China, here's how much the dollar is overvalued, according to Goldman Sachs China may allow its currency to succumb to upward pressure as part of its trade negotiations with the U.S. The renminbi is cheaper than it has been for several decades, according to GS forex strategists ---- Senate Advances to Final Vote on Kevin Warsh Nomination to Fed Board The Senate took another procedural step toward confirming Warsh as the next Federal Reserve chair. ---- Trump Delays Move to Lower Tariffs on Beef Imports The administration was set to suspend tariff-rate quotas on all beef-exporting nations. Beef prices have climbed steadily since Trump took office. ---- China Central Bank Warns on Imported Inflation Risks The People's Bank of China said in its first-quarter monetary policy report that imported inflation risks require &#34;close monitoring.&#34; ---- Market Participants Eye March 2027 for Next Bank of Canada Rate Increase Market participants appear undaunted by the risk of accelerated inflation from the Middle East conflict, and remain convinced the Bank of Canada won't budge on interest rates until next year, according to a survey. ---- U.S. Employment Trends Index Ticked Up in April The Conference Board's Employment Trends Index rose to 105.77 in April, from a downwardly revised reading of 105.52 in March. ---- Housing Market's Spring Is Shaping Up as a Bust After April Sales Were Flat Existing-home sales edged up 0.2%, well below economist expectations and extending the industry's long slump. ---- Gasoline Prices Aren't the Only Inflation Threat. Watch Housing Costs. Economists say distortions tied to the 2025 government shutdown could cause shelter inflation to accelerate in April, complicating the Federal Reserve's fight against rising prices. ---- Moderna Stock Loses Steam. Hantavirus Trade Fizzles as Officials Dismiss Pandemic Risk. Inovio Pharmaceuticals and Novavax stocks pare back earlier gains as the rally loses enthusiasm. <pre></pre> (END) Dow Jones Newswires May 12, 2026 01:15 ET (05:15 GMT)Copyright (c) 2026 Dow Jones &amp; Company, Inc.</div></div>

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The NACHO Trade is emerging on Wall Street with rising oil prices and Treasury yields, alongside a chip-stock rally pushing indexes to new highs. Japan's finance minister confirmed ongoing cooperation with the U.S. on currency monitoring. The U.S. and Iran remain in a stalemate, while Goldman Sachs highlights the overvaluation of the dollar amid trade talks with China. The Senate is advancing Kevin Warsh's nomination to the Fed Board, and Trump has delayed tariff reductions on beef imports. The People's Bank of China warns of imported inflation risks, and market participants anticipate a Bank of Canada rate increase in March 2027.

- U.S. oil prices and Treasury yields are increasing, while indexes reach new highs due to a chip-stock rally.  
- The U.S. and Japan have committed to closely monitor the currency market, reinforcing their cooperation.  
- The Senate is moving toward confirming Kevin Warsh as the next Federal Reserve chair amidst concerns about inflation and housing market stagnation.

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Dow Jones Top Markets Headlines at 1 AM ET: The NACHO Trade Is Taking Shape on Wall Street | Japan ...