The Day Ahead

• Unilever, McCormick strike deal to create $65 billion food giant: Unilever and McCormick will merge their food businesses, forming a company worth around $65 billion.
• Nvidia bets $2 billion on Marvell as rising AI adoption fuels competition: Nvidia invested $2 billion in Marvell Technology to facilitate the use of Marvell's custom AI chips with Nvidia's networking gear.
• Lilly seals up to $7.8 billion deal for Centessa in sleep disorder bet: Eli Lilly will acquire Centessa Pharmaceuticals for up to $7.8 billion, expanding into sleep disorder treatments.
• Meta to limit PG-13 rating use for teen accounts in Motion Picture Association deal: Meta agreed to reduce references to the PG-13 rating for its teen accounts, resolving a dispute with the Motion Picture Association.
• US appeals court upholds decision to dismiss Boeing criminal case: A U.S. appeals court affirmed the dismissal of a criminal case against Boeing related to fatal 737 MAX crashes.

MARKET RECAP AT 4 pm ET

• Wall Street surged on de-escalation hopes in the Middle East.
• Oil futures for June plunged.
• Benchmark Treasury yields fell.
• Dollar fell.
• Gold prices rallied.