AI stocks sink as report says OpenAI annualized revenue fell short of expectations
OpenAI reportedly told investors it hit roughly $50 billion in annualized revenue, below what was expected, cooling AI optimism across chipmakers and SoftBank.
CNBC · +14 outlets
SpaceX to buy 800 MHz spectrum portfolio, pressuring AT&T, Verizon and T-Mobile shares
SpaceX agreed to acquire Grain Management's 800 MHz spectrum to push Starlink deeper into US mobile service, hitting wireless carrier stocks while lifting cell-
MarketWatch · +14 outlets
Oil jumps toward $105 as Iran tanker attacks cut Strait of Hormuz transits
Escalating attacks on tankers and slowing Hormuz flows pushed crude sharply higher, with Trump saying the US will not attack Iran before the midterms.
CNBC · +12 outlets
S&P 500 and Nasdaq close lower as Treasury yields climb and chip stocks weigh
The benchmark indexes slipped from record highs as surging oil and elevated bond yields kept Wall Street unsettled, while the Dow recovered off its lows.
Yahoo Finance · +14 outlets
Nvidia-backed Firmus withdraws $5 billion Australian IPO amid AI valuation concerns
The AI data center operator scrapped its planned listing citing market volatility, a sign of cooling demand for AI-linked offerings.
Investing · +7 outlets
Treasury yields retreat after 30-year auction; 10-year and 30-year hit 24-year highs
Yields eased after a strong 10-year auction but remained near multiyear highs, with a Bessent adviser saying they could fall soon.
CNBC · +14 outlets
Starbucks explored takeover of Chipotle; analysts weigh debt and deal logic
Starbucks reportedly worked with advisers on a Chipotle bid before describing the talks as rumors, with investors wary of adding to its debt load.
MarketWatch · +3 outlets
TSMC posts record quarterly revenue on AI chip demand, beating forecasts
The chipmaker's strong sales signal sustained AI demand even as other semiconductor stocks fell.
Barron's · +14 outlets
US budget deficit jumps to nearly $2 trillion
The widening fiscal gap adds to concerns over debt issuance and borrowing costs as yields sit near multiyear highs.
WSJ · +14 outlets
Fed's Waller sees additional rate hikes to bring inflation down faster
The comments underscore a hawkish Fed stance as traders weigh the path of policy.
Yahoo Finance · +14 outlets
PepsiCo cuts earnings forecast as North America turnaround lags
The beverage and snack maker lowered guidance and its CEO warned employees that units not producing growth will not be part of the company.
CNBC · +12 outlets
NY Fed finds tariffs drove inflation entirely in many everyday goods categories
Researchers found tariffs added 2.9 percentage points to inflation across 67 categories of goods by February 2026.
CNBC · +7 outlets
Trump says US will not attack Iran before midterm election
Trump called talks with Tehran productive as the Iran conflict pushes oil and gas prices higher and public support for the war slips.
CNBC · +13 outlets
Devon Energy to sell Eagle Ford assets for $4.2 billion to Crescent Energy
The deal deepens Devon's Permian focus while Crescent expands its shale footprint.
Reuters · +14 outlets
NFL asks Supreme Court to treat prediction markets as state-regulated gambling
In an amicus brief backing New Jersey regulators against Kalshi, the NFL argues sports prediction contracts are effectively gambling.
CNBC · +14 outlets
Tech firms pledge $2.4 billion in computing power to Trump's Genesis Mission
The commitments aim to boost US scientific research through federal AI partnerships.
Politico · +8 outlets
France veers toward potential debt crisis, a warning to global markets
Rising borrowing costs and fiscal strain put Europe's second-largest economy under growing pressure.
The New York Times
Trump administration suspends Microsoft from green card program over alleged fraud
The suspension over visa fraud allegations touches a major US employer of foreign tech talent.
AP News