[overnight global news you need to know on Wednesday] 1. Fed Williams said the Fed would raise interest rates again if necessary; there was no reason to cut rates this year; and inflation was expected to fall to about 3.25% this year and reach the 2% target in the next two years. 2. The U.S. Energy Information Administration (EIA) estimates the price of Brent crude at $78.65 a barrel in 2023 (previously estimated at $85.01) and $74.47 in 2024 ($81.21 previously). Activision Blizzard has hired a heavyweight legal figure, Lord Lord David Pannick KC, to lead the company against a decision by the UK competition regulator to block a $75 billion deal with Microsoft, according to the Financial Times. 4. The Saudi Foreign Ministry issued a statement this evening local time, announcing its decision to resume the work of the Saudi mission in Syria. 5. Mark Branson, head of the German Federal Financial Regulatory Authority (BaFin), warned that the German banking system is undergoing a real stress test in the current market turmoil. He expects severe weakness in the commercial real estate sector. 6. According to people familiar with the matter, Russia's crude oil production cut in April almost reached the target level, with data showing that Russian crude oil production averaged 1.319 million tons per day in April, more than 440000 barrels per day less than in February and close to the promised production reduction level. 7. Us President Joe Biden has concluded talks with congressional leaders on the debt ceiling, and House Speaker John McCarthy says no progress has been seen in the debt ceiling negotiations. Biden will hold talks with leaders of both houses of Congress again on Friday (May 12). 8. Schnabel, executive member of the European Central Bank, said that a rate cut is highly unlikely in the foreseeable future. 9. Marcus, owned by Goldman Sachs, raised the interest rate on its high-yield savings account to an all-time high, which currently offers an interest rate of 4.15%, which is the same as Apple's high-yield savings account for Apple Card holders. 10. The Executive Committee of the Brazilian Foreign Trade Commission decided to exempt 628 machinery and equipment products from import duties, which will last until December 31, 2025. 11. The three major indexes of US stocks collectively closed down, with the Dow down 0.17%, the Nasdaq down 0.63%, the S & P 500 down 0.46%, most hot technology stocks down, hot Chinese stocks down, and the NASDAQ China Golden Dragon Index down 2.22%. 12. WTI crude oil futures closed up 0.75% at $73.71 / barrel, while Brent crude oil futures closed up 0.56% at $77.44 / barrel. COMEX June gold futures closed up 0.48% at $2042.90 an ounce.