Citi
May 22, 2026
The Point for North America
Market ReportEquitiesMacro Economic IndicatorsFXIndustrialsHealth Care
Citi reports on global economic resilience amid Middle East conflicts and highlights major company beats, including IBM's quantum foundry deal and Eli Lilly's obesity trial success.
Key Takeaways
- 1.Global economy remains resilient despite severe supply shocks and the Iran war, supported by AI spending momentum.
- 2.IBM has been selected for a first-of-its-kind quantum chip foundry funded by the White House, representing a $2B package.
- 3.Eli Lilly's retatrutide phase 3 study (TRIUMPH-1) showed impressive efficacy, with up to 30.3% weight loss at 104 weeks.
Table of Contents
- Morning Call Highlights
- Must Read
- Company
- Industry
- Economics & Strategy
- Fixed Income & FX
- Key Rating and Target Price Changes
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Authors
Kyle MengesYigal NochomovitzPaul Lejuez
Securities
CMILLYIBMFDXNEE
Themes
AI-Driven GrowthMacro Resilience vs Geopolitical ShocksQuantum Computing Commercialization
Regions
North AmericaEuropeAsia PacificUnited StatesSouth KoreaTaiwan