Bond Yields, Google’s Big AI Bet, and a Market Under Pressure

The bond selloff is back in the driver’s seat Tuesday, with inflation fears pushing Treasury yields higher and stocks retreating across the board. Google and Blackstone announced a $5 billion AI cloud venture aimed squarely at CoreWeave’s business model, sending the neocloud sector lower. Today’s edition has the full picture before Nvidia reports tomorrow.

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A major holder bought another $101.8 million worth of shares across three straight sessions in a defensive services company still down about 14% over the past year, while a biotech CEO bought just over $1.0 million with the stock still far below its 52-week high.

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Stocks retreated Tuesday as Treasury yields climbed again, with two-thirds of fund managers surveyed by Bank of America now expecting the 30-year yield to exceed 6% within the year, keeping inflation front and center as the Iran war's energy costs grind on. Google and Blackstone announced a $5 billion joint AI cloud venture built on Google's TPUs, taking direct aim at CoreWeave's neocloud market.

The UN trimmed its global growth forecast to 2.5% for 2026, the weakest since the pandemic, while leaving the U.S. unchanged at 2% on AI investment and consumer resilience. Oil edged slightly higher as Trump held off on a military strike against Iran, with markets pricing in a prolonged stalemate over any near-term resolution.

Home Depot (NYSE: HD) is facing a stubborn problem. Americans are still delaying big remodeling jobs as housing affordability, high mortgage rates, and economic uncertainty keep wallets tight.

Big Projects Are on Pause

Large remodels are the weak spot. When you are unsure about the economy, ripping out a kitchen suddenly feels less like a dream and more like a financial jump scare.

Home Depot is still holding its ground. Sales beat expectations, and the company kept its yearly outlook unchanged, which says the business is bending, not breaking.

The Pro Customer Matters More

The company has been leaning harder into contractors and builders. That Pro customer is helping offset softer demand from regular homeowners who are postponing expensive projects.

This is where your attention should shift. Home Depot is not just waiting for weekend DIY shoppers to return with paint rollers and optimism.

Waiting for Housing to Wake Up

Customer visits slipped, but spending per visit rose. That means shoppers are still buying, just not committing to the monster projects Home Depot loves most.

The bigger story is housing. Once affordability improves and owners feel confident again, you could see the big-project engine start moving. Until then, Home Depot has to win smaller jobs and keep its Pro business doing the heavy lifting.

Chewy Inc. (NYSE: CHWY) is seeing a more stretched customer than it saw at the start of the year. The pet category is still resilient, but even pet parents have limits when bills keep barking.

Chewy’s message is not that people stopped caring about their pets. The bigger issue is that customers are getting more careful with spending, even in a category that many households usually protect.

When you see pressure show up in pet retail, it says something broader about the consumer. People may still buy the essentials, but the extra treats, upgrades, and nice-to-have items become easier to delay.

A Tougher Read on the Customer

Chewy built its business around convenience, loyalty, and repeat pet purchases. That model still matters, but a stretched consumer makes every basket harder to grow.

The company now has to prove it can keep customers engaged without leaning only on easy spending habits. That is where your attention should go, because loyalty matters most when shoppers get selective.

Resilience Has Limits

Pet retail is stronger than many categories because animals still need food, medicine, and care. Chewy has that advantage, and it is not small.

The warning is that resilience does not mean immunity. If household pressure keeps rising, you could see Chewy lean harder into value, autoship loyalty, and essentials while the fun stuff waits in the cart.

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Blackstone is teaming up with Google to launch a new AI cloud venture. The deal starts with a $5 billion equity commitment from Blackstone and aims to bring 500 megawatts of data center capacity online in 2027.

Blackstone Moves From Landlord to AI Power Player

Blackstone is no longer just buying buildings around the AI boom. It is helping build the physical backbone that AI companies need before they can sell anything clever.

When you strip away the hype, AI needs chips, power, land, and data centers. Blackstone is placing itself right in the middle of that supply chain.

The venture will offer data center capacity along with Google’s custom AI chips, known as TPUs. Google gets more room to serve AI demand. Blackstone gets a bigger role in one of the most important infrastructure markets of the decade.

Infrastructure Is the Real AI Bottleneck

AI demand is racing ahead, but capacity is not magically appearing. That is where your attention should land. Blackstone is betting that the biggest AI winners may include the companies building the pipes, not just the ones making the apps.

Bigger Than One Deal

The venture could expand over time as demand grows. Blackstone has already been pushing into data centers, power generation, and transmission assets.

For Google, the deal adds capacity. For Blackstone, you get a clearer picture of its future: less traditional real estate story, more AI infrastructure machine.

Meiwu Technology [WNW] $4.75 (+97.10%)

Meiwu is a Chinese e-commerce company that raised $15.65 million in May to fund an AI-powered skincare platform. Today's move is a thin-float momentum squeeze following a 1-for-100 reverse split, with an insider Form 4 filing adding ambiguity to the tape.

The AI narrative is real enough to attract traders. The $3.2 million market cap is the whole risk.

Edesa Biotech [EDSA] $11.95 (+32.78%)

Edesa is running on biotech sector tailwinds and Phase 3 momentum for paridiprubart in ARDS patients, with 2.85x relative volume confirming institutional interest at a $106 million Strong Buy market cap.

The pipeline is real. The sector wind is at its back. Just know it has run hard this month, and retracement risk is part of the deal.

Phoenix Asia Holdings [PHOE] $15.76 (+26.08%)

Phoenix Asia announced a $1 billion all-stock deal to acquire ACEA Pharma, a clinical-stage oncology and autoimmune drug company, on May 4, pivoting from Hong Kong construction into pharmaceuticals. Today's move is a continuation of the momentum from that announcement.

The deal requires regulatory and Nasdaq review before closing, so there is real execution risk between the announcement and the finish line.

Gloo Holdings [GLOO] $5.00 (-18.17%)

Gloo is an AI platform for faith-based organizations with full-year 2026 revenue growing 307% to $94.66 million, but losses widened to $157 million. On a risk-off bond-selloff day, high-growth high-loss SaaS takes the hit.

The Strong Buy consensus and $13.75 price target reflect Street confidence. Q4 2026 EBITDA breakeven is the milestone to watch.

Blue Bird [BLBD] $64.65 (-11.12%)

Blue Bird beat guidance for the fourteenth consecutive quarter in May with record Q2 adjusted EBITDA of $51 million and 14% margins. Today's selling is macro — rising bond yields are squeezing expectations for government school bus contract spending.

The $2 billion Strong Buy-rated company is executing well. The bond market is the problem, not the business.

Warby Parker [WRBY] $25.51 (-10.96%)

Warby Parker launched Intelligent Eyewear with Google and Samsung today, but included no near-term revenue guidance for the product. Q1 EPS already missed by 80% on May 7.

The stock was near its 52-week high coming in. A product launch without a revenue timeline in an already-disappointed quarter is what today's market is saying no to.

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That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback!

Thanks for reading. I'll see you at the next open! 

Best Regards,
— Adam G.
Elite Trade Club

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