Solana staking protocol Fragmetric completes $7 million seed round

On May 8, per Bitget market data, the Dow, S&P 500 and Nasdaq all advanced at the U.S. stock market open: the Dow was up 0.38%, the S&P 500 added 0.44%, and the Nasdaq climbed 0.54%. Storage-focused stocks rallied, with Micron Technology (MU.O) jumping 5.5% and SanDisk (SNDK.O) rising 4.5%.

On May 8th, Robinhood launched BLEND spot trading, per its official website.

May 8 — Iran says it is still reviewing a U.S. proposal to end the war, per Iran’s Tasnim News Agency.

Nick Timiraos — the so-called "Fed Oracle" — said on May 8 that a key question the Federal Reserve grappled with four months ago is now irrelevant: whether to keep cutting rates to prop up a seemingly weakening labor market. The labor market has stabilized, and inflation — driven by tariffs and Iran tensions — has shifted from a downward trend to upward momentum. April’s nonfarm payroll report underscored this outlook shift, suggesting that as markets assess the Fed’s next policy step (currently seen as firmly on hold), attention will squarely turn to inflation data. April hiring remained strong, the unemployment rate held steady, and income growth stayed resilient — none of which gives reason for rate cuts. With the labor market keeping the Fed patient, the next policy debate will focus on when and how to move to a "neutral" stance (where the odds of rate hikes and cuts are roughly balanced). That shift will largely hinge on future inflation readings.

On May 8, White House National Economic Council (NEC) Director Hassett said there are no signs of runaway inflation, adding the Federal Reserve (Fed) does not need to hike interest rates. FX168 notes, however, that a rate cut could materialize this year given Fed Chair nominee Powell.

Fox News reported on May 8 that U.S. military forces conducted additional airstrikes today, targeting several oil tankers attempting to break a naval blockade. A senior U.S. official stated the vessels were all Very Large Crude Carriers (VLCCs) — large empty ships bound for Iran — and were trying to breach the same blockade.