Business Bible Headlines: May 11 @ 5:00PM ET

This is a Business Bible News Headlines for Monday May 11 at 5:03 PM Eastern Time, Business Bible News where Daily News meets Daily Principle. Business Headlines: The S&P 500 rises to a fresh record as Micron Technology leads Nvidia and other chipmakers higher. According to CNBC, the S&P 500 is up 14 points today, closing at 7,412, propelled by strong gains in the technology and semiconductor sectors. Meanwhile, Tesla CEO Elon Musk and Apple CEO Tim Cook are set to join President Donald Trump for a summit with Chinese President Xi Jinping, as reported by Bloomberg. This high-profile meeting is expected to address various economic and trade issues between the two nations. Texas has filed a lawsuit against Netflix for what it claims is an advertising bait and switch and for allegedly spying on its users, according to The Verge. General Motors is cutting hundreds of salaried IT jobs as part of its strategy to trim costs and evaluate its staffing needs, CNBC reports. In other news, short-seller Michael Burry advises investors to reduce their positions in stocks that are experiencing parabolic price increases, as highlighted by CNBC. Finally, AI chipmaker Cerebras Systems is seeking $4.8B in an upsized initial public offering, according to Bloomberg. BBNews Market Analysis: Global markets are mixed today. In overseas trading, the Shanghai Composite leads the way with a move of 46 points. In US markets, the S&P 500 is up 14 points to 7,412, the Dow Jones Industrial Average is up 98 points to 49,707, and the Nasdaq Composite is up 25 points to 26,272. The 10-year Treasury yield is at 4.41. Commodities: Brent Crude is up $3 to $98 per barrel. Gold is up $24 to $4,745 per ounce. Sports news: Chris Boswell agrees to a 4-year extension with the Pittsburgh Steelers, as reported by NBC Sports. The kicker's new deal comes amid ongoing negotiations regarding the quarterback position for the upcoming season. Entertainment news: Variety reports that "The Devil Wears Prada 2" remains a box office force with $433M globally after 2 weekends of release. The star-studded sequel, which features Meryl Streep and Anne Hathaway, continues to draw in audiences with its nostalgic appeal. The Daily Principle: Today's Daily Principle is ECONOMICS, specifically dealing with self-interest. This principle is found in Ecclesiastes 10–2. The verse reads: "It is natural for the wise to do the right thing and for fools to do the wrong thing." In the business world, this principle emphasizes the importance of making ethical decisions that benefit not only oneself but also stakeholders. Wise leaders recognize that doing the right thing fosters trust and long-term success, while those who act foolishly may jeopardize their reputations and the sustainability of their ventures. Learn more at businessbible.com where Daily News meets Daily Principle.