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Tom Lee: AI Stocks Still Have Room to Grow, S&P 500 Could Reach 7700 by End of This Year

2 hours ago

On May 7, Tom Lee told CNBC in an interview that despite the U.S. stock market hitting record highs, valuations of leading stocks—especially in the AI and semiconductor sectors—remain reasonable. Lee noted the forward P/E ratio for top semiconductor and tech stocks is around 22x, well below the historical peaks of the past 20 years. With explosive growth still fueling demand in related industries, he sees "upside potential" and predicts the S&P 500 could rise to 7700 or higher by year-end.
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Binance Alpha Launches PlaysOut, Users Holding 245 Points Can Claim Airdrop

On May 7th, Binance Alpha officially announced the launch of PlaysOut (PLAY).


Users with at least 245 Alpha Points are eligible to claim the PLAY token airdrop. The airdrop (360 PLAY tokens per eligible user) is available on the Alpha event page on a first-come, first-served basis.

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Pakistani Official: Pakistan is preparing for potential US-Iran talks

**May 7 – A Pakistani official said Wednesday that relevant Pakistani departments held a meeting in the capital Islamabad to prepare for potential U.S.-Iran negotiations and even an agreement signing ceremony that could take place in Islamabad.** **Separately, another Pakistani source noted that on the same day, Pakistani military, police and other relevant personnel held a joint meeting in neighboring Rawalpindi to discuss security measures for upcoming U.S.-Iran talks scheduled for next week.** **(Xinhua)** *(Note: "Wednesday" aligns with the 202X May 7 context; adjust to the actual weekday if needed, or keep "on May 7" for generality.)*

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Hyperliquid S&P 500 Largest Long Position Takes First Profit: Closed $10 million, Position Still Holds $64 million

**On May 7, HyperInsight monitoring (via https://t.me/HyperInsight) reports the holding size on Hyperliquid peaked at $74 million, with the largest long position tied to the S&P 500. After nearly a month of heavy positioning, the holder executed their first profit-taking move—accumulating over $4.2 million in floating profits during that stretch.** **In the past two hours, the address has gradually closed ~$10 million in positions around the $7,370 level, realizing ~$550k in realized profits. Post-reduction, it still maintains a 5x leveraged S&P 500 long: remaining size = $64 million, average entry price = $6,946, and the position remains solidly long.** **Relevant address: 0xd47587702a91731Dc1089B5DB0932cF820151A91**

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The Israeli military has issued an evacuation warning to residents of southern Lebanon.

May 7 — Iran’s Tasnim News Agency reports the Israeli military has warned residents of three settlements in Lebanon’s southern Nabatieh Governorate — Dir al-Zahrani, Bluffdale and Habbush — to evacuate their homes. Separately, video footage shows an Israeli drone flying over Zahrani in southern Beirut.

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The U.S. M2 Money Supply Reaches All-Time High

As of March 2026, U.S. M2 money supply hit a record $22.7 trillion, per Barchart data as of May 7. M2 encompasses cash, checking deposits, and near-cash assets; its growth reflects the effects of Federal Reserve monetary policy and expanded economic liquidity.

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New York Mellon Bank to Expand Crypto Custody Business to Abu Dhabi, Initially Supporting BTC and ETH

On May 7, BNY announced it will expand its cryptocurrency custody business to the global market in Abu Dhabi, UAE, through partnerships with Finstreet and the ADI Foundation, offering custody services for institutional clients. Initially, the service will support Bitcoin (BTC) and Ethereum (ETH) custody. The three parties will also explore extending the service to the ADI Foundation’s underlying blockchain infrastructure, with plans to gradually expand to stablecoins, real-world asset tokenization, and other regulated digital assets.

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