Bloomberg News

US state and local government debt hit its cheapest level since the spring, after inflation fears caused municipal bonds to see their worst week of returns since April 2025.

Microsoft Corp., Meta Platforms Inc. and Amazon.com Inc. face renewed investor anxiety over their debt-fueled capital expenditure plans after Alphabet Inc. raised the upper end of its spending forecast this year by as much as $15 billion.

Kioxia Holdings Corp. faces more wild price swings with leveraged exchange-traded funds tracking the Japanese memory chipmaker’s shares set to be listed in the US.

Jefferies Financial Group Inc. is hiring several muni sales and trading veterans, according to a person familiar with the matter.

US Treasuries edged higher as oil prices softened after the US paused its nearly two-week campaign of strikes against Iran, while traders eyed a roughly one-in-three chance of a Federal Reserve interest rate hike on Wednesday.

Goldman Sachs Group Inc. and T. Rowe Price Group Inc. are launching their first interval fund for the masses as Wall Street races to bring private investments to Main Street.

Let’s get this out of the way right away: It’s highly unlikely the Federal Reserve will raise interest rates when policymakers meet this week after the latest data showed inflation has slowed.

It is one of the great paradoxes of our time: Americans have never been richer — or more negative about the economy.

Artificial intelligence operates at speeds and levels of complexity that its human creators can’t match. So what happens when it’s unleashed on financial markets?

Intel Corp.’s long-awaited turnaround is in progress, now that the artificial intelligence data center boom is fueling demand for its chips.

Gold edged higher, holding firmly above the key resistance point of $4,000 an ounce even as the widening conflict in the Middle East fuels expectations for tighter monetary policy.

US equity futures on Friday were little changed, indicating stocks are poised to steady from the deepest one-day drop in a month, as Brent crude prices fell below $100 a barrel and a selloff in Big Tech shares eased.

BlackRock Inc. began marketing $12.3 billion of high-grade bonds to fund a Meta Platforms Inc. data center project, testing investor appetite amid growing concerns about excessive AI infrastructure spending.

Washington, DC is stepping up to borrow $1.2 billion this week at its annual municipal debt sale, tapping the market as its credit stabilizes.

US Treasuries are offering investors solid protection against losses as yields remain elevated, according to BlackRock Inc.

Intel Corp. is expected to report strong second-quarter earnings after the market close Thursday, but even blowout results likely won’t be enough to reverse the stock’s July slide.

US President Donald Trump said a civil nuclear agreement with Saudi Arabia would be contingent on the kingdom normalizing ties with Israel, throwing cold water on a landmark deal his administration finalized just a day earlier.

Alphabet Inc.’s impressive second-quarter earnings release on Wednesday seemed on course to go down mostly well with investors. Until the earnings call, the Google parent’s share price was up marginally in after-hours trading, buoyed by cloud growth that smashed estimates.

The global luxury industry, which has been grappling with three years of lackluster sales, may gain some relief as wealth generated by artificial-intelligence companies and their trillions of dollars of initial public offerings finds its way into fancy fripperies.

The first data releases since Federal Reserve Chairman Kevin Warsh took office suggest that inflation has subsided, making his job a little easier.

By moving forward with the latest proposal, Trump would cement his commitment to tariffs, despite voter concerns about the cost of living heading into November’s midterm elections.

The US 30-year bond yield is trading above 5% for the longest stretch since the dawn of the financial crisis, echoing investor concerns about a growing debt pile and sticky inflation.

Blackstone Inc. leaned on Wellington Management Co. and Vanguard Group to create two new funds that will give individual investors access to private assets as it looks to go beyond its roots as a money manager for pensions and institutions to become more of a household name.

With AI spending skyrocketing, investors are looking for Alphabet Inc.’s earnings to show strong growth in its cloud-computing business, which would demonstrate a clear return on the company’s investments.

Strong economic momentum is a double-edged sword for US equity traders. Solid growth is an earnings tailwind. But let it run too hot, and it turns from blessing to curse.

Charles Schwab Corp. reported earnings that topped estimates as retail investors continued to jump in and out of the market amid volatility sparked by geopolitical uncertainty.

Investors poured billions into BlackRock’s exchange-traded fund tracking South Korean stocks, underscoring strong appetite for artificial intelligence companies even as wild swings continue to roil local equities.

The biotechnology sector is stealing the US IPO market thunder from artificial intelligence-related listings, delivering standout returns as bankers line up a steady stream of summer debuts.

Gold and silver rose on dip-buying, as traders monitored Middle East tensions for signs that higher energy costs could stoke inflation, putting pressure on the Federal Reserve to tighten policy.

After last week’s wipeout in chips and the broader selloff in technology stocks, pressure is building for the biggest spenders on artificial intelligence to justify their expenditures to beleaguered traders with increasingly itchy fingers hovering over their sell buttons.

Andy Burnham pledged a “new economic model” for the UK as he sought to reassure Britons that his ascension as their seventh prime minister in little over a decade would bring an end to the country’s political instability.

Bond traders and Federal Reserve Chairman Kevin Warsh are in agreement on a crucial point: The central bank’s fight against inflation still seems far from over.

Whether you admire him or cringe at the mention of his name, US President Donald Trump has long had a penchant for putting his name on things. Once it was condos, steaks and Bibles.

US stocks advanced on Monday, paring last week’s slump, as chipmakers rebounded amid a deluge of earnings reports that will test whether Big Tech’s profits can match high expectations.

A growing number of corporate leaders, buckling under the stress and uncertainty of the AI age, are looking for a very human solution: A chief of staff.

A record inflow hit the largest US-listed South Korea exchange-traded fund, as investors seeking exposure to SK Hynix Inc. piled into the ETF as a proxy at a time when the chipmaker’s new American depositary receipts trade at a substantial premium to its local shares.

President Xi Jinping used the rise of China’s AI models to stake his claim on shaping the technology’s global rules, even as their growing power stirs security concerns in Washington and Beijing alike.

Apple Inc. is again the biggest company in the world after wresting the title from Nvidia Corp., which has held it since May 2025.

The bonds sold by hyperscalers to fuel their artificial intelligence ambitions have become a drag on investor portfolios from London to Tokyo.

Housing starts in the US surged in June after a sharp drop a month earlier, driven by a rebound in apartment construction.

Investors love an oligopoly. Imagine an industry dominated by a few large, long-standing players. They can earn outsized profits in boom times and avoid crashes thanks to rational capital spending. The existential questions, though, are whether these firms might turn on each other, and is the industry’s entry barrier high enough.

As prediction markets draw record trading around events like the World Cup, Jump Trading Group is betting the once-niche contracts are becoming a lasting corner of Wall Street.

David Solomon, decked out in full academic garb, bobbed his head happily and wagged his index finger to the beat of his own AI-generated music.

Netflix Inc. has been one of the worst stocks in the market over the past 12 months as concerns about the video-streaming giant’s plans and prospects refuse to go away. Now, investors worry that its earnings report after the close will confirm those fears.

Hoisington Investment Management Co., the bond manager known for its bullish stance on US Treasuries going back more than 30 years, has turned bearish.

Is it a bubble or isn’t it? That’s what everyone seems to be asking about the US stock market. I say it isn’t. A bubble to me is when price becomes disconnected from any rational, articulable value, the way people chased opaque schemes in the Roaring 1920s or the blind faith in new internet companies in the 1990s.

Captain Ahab never caught Moby Dick, but Morgan Stanley shows how tracking billionaire tech whales like Elon Musk can eventually land a fortune. Not long ago, the bank appeared to have shot itself in the foot as lead lender on the disastrous $44 billion buyout of social media platform Twitter, now known as X.

Eli Lilly & Co. agreed to buy AtaiBeckley Inc. for as much as $3.8 billion, underscoring growing interest from large drugmakers in the once-fringe area of psychedelic medicine.

incoln National Corp. is in advanced talks with Talcott Financial Group for a reinsurance deal that would shift billions of dollars of life insurance reserves off its balance sheet, according to people familiar with the deliberations.

BlackRock Inc. pulled in $192 billion of net client cash in the second quarter, with investors pouring money into exchange-traded funds and pushing total assets above $15 trillion for the first time.

In the span of just two weeks, Meta Platforms Inc. has gone from a market afterthought to one of its hottest stocks, as investors finally like what Facebook’s parent is saying about its artificial intelligence plans.

Artificial intelligence is reshaping every business, including ours. But the hardest challenge is not adopting it. It is rewiring your company around it. How corporate leaders respond to that test will determine whether AI shrinks their ambition or raises it.

The median house price in Nantucket, Massachusetts, is nearly $4 million. It was just $500,000 in 1995. This sounds like a stunning increase in one of the hottest and least accessible real estate markets in the country.

Goldman Sachs Group Inc. trounced its own Wall Street stock-trading records, posting $7.42 billion for a quarter that saw indexes rip higher and ongoing market volatility around artificial intelligence and war in the Middle East.

The US Bureau of Labor Statistics said Tuesday that the Consumer Price Index fell 0.4% in June, bringing the inflation rate over the past 12 months down to 3.5%. That’s good but not good enough. Inflation is still too high.

US stocks rose on Tuesday as investors parsed latest inflation data and Federal Reserve Chairman Kevin Warsh’s remarks.

Shares of software and IT services companies plunged Tuesday after International Business Machines Corp. reported preliminary results that missed analyst expectations, reigniting questions about the sector.

What’s good for the US dollar isn’t always good for US bonds — but investors are finding ways to work around it.

In his zeal to avoid signaling where interest rates are headed, Federal Reserve Chairman Kevin Warsh has obscured something else that’s crucial to investors, analysts and other policymakers: How he would react when challenged by the economy.

Investors are flocking back to Apple Inc. as nervousness about artificial intelligence spending weighs on the stocks of chipmakers and cloud-computing giants.

South Korea’s AI-fueled stock rally came under renewed pressure Monday as SK Hynix Inc. tumbled by a record 15%, underscoring growing investor concerns that the boom has become overstretched.

The official data will be released tomorrow, but if past trends continue, the US inflation rate will come in higher than most Americans are used to, but still relatively low.

Investors who piled into SK Hynix’s $28 billion blockbuster Nasdaq debut on Friday should be aware: The business model on which the world’s leading memory chip makers are thriving is set to shift to one that requires a bit more strategic and financial gambling.

Money flowing into President Donald Trump’s newly created accounts for children will initially be invested in a State Street Corp. exchange-traded fund, as the US Treasury Department prepares to roll out the program.

The Federal Aviation Administration is resurrecting the dream of passengers flying faster than the speed of sound after it recently proposed lifting a ban on supersonic flights over land, which has been in place for more than five decades.

The US equity market, with the S&P 500 hovering near all-time highs, is expensive. This isn’t controversial. Depending on which measure you use, US stocks have arguably been overpriced for several years.

New Hampshire’s executive council voted down a proposal to bring the first Bitcoin-backed bond to the municipal market.

Finance Minister Satsuki Katayama pulled a genuine surprise on Friday when she announced toward the end of a regularly scheduled press conference that the government would pursue policies to encourage its massive pension funds to invest more at home. Details were sparse, and the yen wasn’t mentioned directly.

Silicon Valley has long considered itself an egalitarian utopia — a place where rebelling against hierarchy is encouraged and good ideas are supposed to bubble to the top, regardless of who has them. The reality has always been more complicated.

Americans like their electric vehicles to come with a side of gasoline. Sales of conventional hybrid vehicles, which combine internal combustion and electric drivetrains but don’t plug in to recharge, jumped by almost a fifth in the first half of 2026, year over year, while pure battery EVs slumped by a quarter.

Almost two decades ago, when trillions of dollars in private housing debt proved unsustainable, governments had to step in to prevent the worst financial crisis since the Great Depression from eclipsing it.

The busiest airport in New England is tapping the municipal bond market to remodel its facilities and keep up with passenger growth.

It used to be a considered something of a tawdry question, although it could be flattering as well: “What’s your number?” Nowadays, your inquisitor is probably asking about retirement — as in, how much you think you need to retire. And, as it often was before, it’s the wrong question.

One notable group has been absent from the 2026 stock rally: the American tech giants that have charged a nearly four-year bull run.

A wave of profit taking in the gold market has brought a three-year bull run to an end, but there’s little evidence yet that investors are putting on large-scale short positions in anticipation of further declines.

In 2003, the Pentagon’s Defense Advanced Research Projects Agency made a visionary attempt to use prediction markets for geopolitical forecasting. However, it created a huge controversy in Congress and was quickly killed.

Bitcoin tumbled as renewed geopolitical tensions rattled digital asset markets, eclipsing what had been a muted reaction to Strategy Inc.’s latest sale of the token earlier in the week.

After losing roughly $1 trillion in market value in less than two months, Nvidia Corp.’s stock is the cheapest it’s been since before the AI boom kicked off and sent the shares into the stratosphere.

For years, the Magnificent Seven tech giants commanded investors’ attention, dominating the S&P 500 Index and determining which way the overall stock market was headed. Those days are over.

SpaceX joins the Nasdaq 100 Index Tuesday as Wall Street brokerages launch coverage of Elon Musk’s rocket, satellite and artificial intelligence company with a clear consensus: buy the stock.

The higher the rally in technology high-flyers, the louder the anxiety around a new wave of turbulence in the group.

When Mark Zuckerberg gets a bold new business idea, he likes to throw money at it. Last summer, he dropped $14.3 billion for a 49% stake in Scale AI, allowing him to poach its wunderkind founder Alexandr Wang to lead a new project to build artificial-intelligence systems that surpass human intelligence.

Private equity may be our No. 1 economic boogeyman. It is blamed for rising real estate prices, poor medical care, and ruining many of the businesses we used to love.

The US industrial robot industry is characterized by low growth and highly customized projects. Artificial intelligence holds out the hope to change that, especially when it comes to robots that can move and work safely around humans.

A violent rotation in the underbelly of a bullish stock market is extending the worst run for quantitative hedge funds since 2023.

Goldman Sachs Group Inc. sees the yen weakening to 165 per dollar in a year’s time, driven in part by Japan’s interest rate differentials with the US.

Oil held onto its recent run of losses, with traders looking for clues on flows through the Strait of Hormuz as barrels continue to return to the market after months of disruption.

US stock futures climbed early Monday as investors gauged whether the artificial-intelligence trade can regain its footing after one of its sharpest pullbacks in more than two years.

One of JPMorgan Chase & Co.’s most senior executives is leaving the bank after a four-decade career, in which she most recently led its artificial intelligence drive from a coveted spot on its top operating committee.

Slate Auto, the electric vehicle start-up backed by Jeff Bezos, is a grand experiment in whether austerity sells — and a warning for the US auto sector.

The artificial intelligence boom has a power problem, and Wall Street is betting billions on companies that promise to solve it — even if some of the technology hasn’t been fully developed yet.

The head of BlackRock Inc.’s beleaguered private credit fund is in the process of leaving the firm, a move that follows months of losses on soured loans and revelations of a US regulatory probe into the unit’s valuation practices.

The business of overseeing individually tailored municipal-bond portfolios has continued to grow rapidly, turning those money managers into the biggest holders of state and local government debt, according to JPMorgan Chase & Co.

With the artificial intelligence race moving so rapidly, even a momentary lag can be costly. Alphabet Inc.’s Google is learning this the hard way: The search giant rapidly caught up with

Federal Reserve Chairman Kevin Warsh said price risks have come down in recent weeks, while repeating his determination to bring inflation back to the US central bank’s 2% target.

A private bond market dating back more than a century is opening a new front in the trillion-dollar AI funding boom, allowing tech borrowers to sell debt directly to deep-pocketed insurance firms.

July is a great time to buy stocks. In fact, it’s been the best month for the S&P 500 Index in the past two decades. Bulls are finding comfort in that history ahead of what stands to be an eventful stretch.

At the start of the regional war in February, Wall Street banks were grappling with the prospect of a protracted slowdown in the Middle East. Three months in, many firms are rushing to add bankers after local investors largely looked past the conflict and doubled down on dealmaking.

Meta Platforms Inc. is developing plans for a cloud infrastructure business that will sell access to AI computing power and models, setting up a new vector of competition with industry leaders like Amazon Web Services, Microsoft Azure and Google Cloud.

The US Securities and Exchange Commission is signaling a potential rethink of how it oversees exchange-traded funds after a recent wave of filings for prediction-market ETFs prompted fresh scrutiny of the existing regulatory framework.

These are dark days for free-market economists when one of the few areas of bipartisan consensus is for a terrible idea: Both Vice President JD Vance and Senator Bernie Sanders want the federal government to take an explicit stake in AI firms.

Oil headed for the biggest quarterly decline since the pandemic as flows through the Strait of Hormuz accelerated following progress on a peace deal, with Morgan Stanley warning of a potential glut ahead.

Chip stocks are heading for their best quarter ever, extending an extraordinary start to the year driven by insatiable demand for artificial intelligence equipment. But after recent jitters sent the stocks tumbling, investors are wondering how much further the rally can go.

A sharp rise in the dollar may emerge as one of the biggest “pain trades” in the second half of the year, according to HSBC Holdings Plc.

Meme mania swept through Wall Street in 2021. Retail investors gathered on social media and coordinated trading strategies to short squeeze high-profile hedge funds.

Wall Street bankers are on a high after record-setting offerings from SpaceX and Google parent Alphabet Inc., lifting expectations for deal activity in the rest of 2026. More deals are on the way, including a steady stream of initial public offerings in the coming weeks, and a potential mega-deal for Anthropic PBC as soon as October.

European firms in critical sectors like nuclear energy and quantum computing are flocking to the US, despite efforts by European authorities and bourses to make the region’s markets more appealing and accessible.

Microsoft Corp. shares are heading for their worst month in years as investors continue to fret about how the software giant will fare in a world marked by artificial intelligence.

Social Security is now just six years away from insolvency, according to the latest annual assessment. Many in Congress might like to keep on ignoring the problem, as they have for years, but this won’t be an option much longer. Senators elected in November will see the system’s trust fund empty during their terms.

This roller-coaster week for tech stocks from Seoul to New York fueled by extreme investor positioning and worries over chip demand is sending a strong signal: the case for the artificial-intelligence trade is still strong, but the days of everything going up in a straight line appear to be over.

The dollar is wrapping up one of its best months in a year as a raft of Wall Street banks see a turnaround of fortunes for the US currency.

SpaceX’s blockbuster bond sale is weakening so quickly in the secondary market that traders say they can’t recall another recent deal that widened this sharply.

Bitcoin’s collapse is forcing crypto veterans to confront the question every bear market eventually asks: when does mass panic create a buying opportunity? The answer, according to many of the investors and analysts who have lived through previous boom-and-bust cycles, is: not yet.

JPMorgan Chase & Co. named Troy Rohrbaugh and Doug Petno co-presidents as the abrupt departure of consumer banking chief Marianne Lake marked another twist in the race to succeed Chief Executive Officer Jamie Dimon.

Market professionals already on edge about the staying power of soaring artificial intelligence stocks are starting to grapple with another risk: public anger toward the technology.

President Donald Trump signed executive orders Monday aimed at accelerating quantum research, laying the groundwork for federal agencies to adopt the technology and strengthen US defenses against cyberattacks.

Alphabet Inc.’s addition to the Dow Jones Industrial Average marks another step in the benchmark’s effort to catch up with a market increasingly defined by Big Tech.

With back-to-back announcements this week, SK Hynix Inc. and Micron Technology Inc. have solidified the memory chip market as the hottest part of the AI industry.

Federal Reserve Chair Kevin Warsh is changing how the central bank conducts monetary policy. A fresh look is appropriate, especially given the Fed’s failure to achieve its 2% inflation objective for more than five years. But this needs to be done with greater care than Warsh has shown to date.

US technology stocks rebounded, lifting key indexes, after the latest flareup of concerns about the scale of the artificial-intelligence-fueled rally wiped nearly $1.3 trillion from the market capitalization of Nasdaq 100 companies over the first two days of the week.

When investors feel like the stock market is toppy, as many do now, they often compare what they expect stocks and bonds to pay. The yield on stocks should offer a premium over bonds to compensate for higher risk, and it usually does.

Alan Greenspan, the titan of global central banking who led the Federal Reserve during decades of prosperity, has died at 100, just when elements of his free-market philosophy are experiencing a renaissance.

SpaceX is seeking to raise between $20 billion and $25 billion from a debut bond offering on Tuesday, after attracting about $30 billion of investor orders even before the sales process had formally begun, according to people with knowledge of the matter. At that size, the deal would rank among the biggest of the year, according to Bloomberg-compiled data.

A massive profit warning from BMW AG last week delivered yet more evidence that Germany’s automaking business model is broken. With Volkswagen AG’s top executives reportedly worried about existential threats to their company, BMW’s woes aren’t isolated.

Nouriel Roubini, the economist known for predicting the 2008 financial crisis and later for his sharp criticism of crypto, is putting one of his investment products on the blockchain.

SpaceX launched a demonstration mission Tuesday to send a reusable capsule into space and then recover it, part of a new program that may allow the Elon Musk-led company to tap into the emerging market of in-space manufacturing.

The Trump administration is providing $17.5 billion to help finance equipment orders for large-nuclear reactors being built by Westinghouse Electric Co., according to people familiar with the matter.

All of this is a warning to other developed markets with debt levels on the verge of exceeding their gross domestic product. Following the Truss chaos of four years ago, the market has decided to approach the UK through a lens of always assuming the worst, a default that continues to cost British taxpayers in the form of higher interest rates.

On June 11, security researchers showed how to subvert OpenClaw, one of the most widely used AI agents. Instructions hidden in something as ordinary as a shared contact or a pinned location could make the agent run an attacker’s code and hand over its secrets.

For the first time in four years, companies in emerging markets are beating profit estimates, giving investors a fresh reason to believe the bull market is just getting started.

Alan Greenspan, the Federal Reserve chairman proclaimed a wizard for guiding a then-record US economic expansion, only to see his luster dimmed by the financial crisis that erupted less than two years after he stepped down, has died. He was 100.

The flow of oil through the Strait of Hormuz is running at the fastest pace since the Iran war began — despite Tehran stating that the world’s key shipping chokepoint is shut and a report that the Islamic Republic continues to harass passing vessels.

Water utilities are selling bonds at a record pace to upgrade aging pipes and meet tougher regulations as they prepare for a potential pullback in federal funding.

SpaceX is selling investment-grade bonds for the first time in what’s expected to be the start of a massive borrowing spree to fund the company’s AI ambitions following its record $75 billion IPO.

Data center developers are struggling to connect to the power grid and, not unrelatedly, connect with people. Perhaps half the data center projects due to start operating this year won’t arrive on time, according to Currence, an artificial intelligence analytics firm.

For long-time shareholders, the IPO is more than just a liquidity event. It represents the end of years of uncertainty and provides a rare opportunity to monetize investments that have generated extraordinary paper returns while remaining largely illiquid.

A growing stream of stranded oil is making its way out of the Strait of Hormuz while empty Iranian vessels rush in, as the US-Iran interim peace deal sparks one of the biggest days of activity since the conflict began.

Kevin Warsh’s remarks after the Federal Reserve’s first policy decision under his chairmanship will probably spark more volatility at the shorter end of the Treasury curve while calming price swings at the long end, according to Kay Haigh at Goldman Sachs Asset Management.

Intel Corp.’s stock surged Thursday after US President Donald Trump said the chipmaker will work alongside Apple Inc. to design and produce semiconductors domestically.

For Elon Musk, the public market debut of SpaceX could hardly have gone better. It priced at the dictated $135 per share and has since jumped by almost half, adding more than $870 billion in just three trading sessions to an already huge market capitalization.

Vanderbilt sold about $320 million of tax-exempt bonds through a Tennessee authority in 2024. Some of those securities that are due in 2035 traded Tuesday for a yield of about 3.06%, only slightly above the 2.83% benchmark for top-rated munis, according to data compiled by Bloomberg.

Apple Inc. investors are losing patience with the company’s talk about becoming a more formidable presence in artificial intelligence and want to start seeing some results.

SpaceX gained for a fourth straight day, cementing the company’s place among the world’s most valuable stocks after it surpassed Amazon.com Inc.

As new Federal Reserve Chairman Kevin Warsh leads his first policy meeting, falling oil prices are set to smooth the way for a rally in fixed income, according to MUFG’s chief of US macro strategy, George Goncalves.

Investors from Fidelity say new Federal Reserve Chairman Kevin Warsh stands to stoke bond-market volatility by offering his views on inflation.

JPMorgan Chase & Co.’s asset-management arm is urging investors to stick with stocks and other higher-risk assets in the second half of 2026, arguing that an AI investment boom and resilient consumers should keep the expansion intact despite persistent inflation and a Federal Reserve on hold.

Jensen Huang may see Marvell Technology Inc. as the stock market’s “next trillion-dollar company,” but it’s going to take a lot of growth for the chipmaker to even sniff that lofty level.

What prediction markets add is something equities never offered: a way for thousands of people to sell small bits of information — a logistics clerk’s observation, a local journalist’s hunch — that are individually worthless and collectively a forecast.

Financial markets generally displayed exuberance Monday after the US and Iran agreed to an interim peace deal to reopen the Strait of Hormuz. Oil prices fell to the lowest since early March and the S&P 500 Index surged, leaving it just a few points below its all-time high reached at the start of the month.

Brent oil fell below $80 a barrel for the first time in more than three months as the US-Iran deal to reopen the Strait of Hormuz boosted expectations for a revival in supply, with leading Wall Street banks reducing their price forecasts and regional benchmarks collapsing.

SpaceX shares jumped on Tuesday, putting the firm on track to overtake Amazon.com Inc. as the fifth largest publicly traded company in the world just days after its blockbuster debut.

On the heels of arranging a record $85 billion equity-raise for Alphabet Inc., Goldman Sachs Group Inc. has scored a lesser-known victory for the tech giant in the municipal bond market.

Treasuries advanced as investors dialed back expectations for Federal Reserve interest-rate hikes following news of a deal to halt the Iran war.

SpaceX shares jumped in their second day of trading, adding to gains following a blockbuster debut that instantly vaulted it into the ranks of the world’s most valuable public companies.

The US insurance industry recently joined the fossil-fuel industry in its fight to avoid being sued over the damage oil, gas and coal emissions have done to the planet. Given that insurers are supposedly among the world’s biggest sufferers of those same climate-fueled losses, this was a perplexing choice — until you think about why Big Insurance and Big Oil might be on the same team.

There are two processes that we cannot escape: aging and math. This applies not only to human beings but also to large government social-insurance programs.

High-speed railway Brightline West has signed new contracts to lay tracks and systems for its high-speed railway, according to an email seen by Bloomberg, signaling progress for a project whose municipal bonds have traded at steep discounts since last year.

New York City’s pension system said it’s seeking bids for roughly $92 billion of stock index-tracking funds now overseen by BlackRock Inc. and State Street Investment Management.

Companies are also looking for ways to cut workers’ costs by offering plans that charge workers less but restrict them to a narrower group of providers.

SpaceX made history with a $75 billion IPO that instantly turned it into one of the biggest public companies in the world. Now it has to win over the market.

US stocks opened with a small gain on Friday, supported by optimism about pending trading in SpaceX, which made history with the biggest-ever IPO, and the potential for an interim peace deal in the Iran conflict.

There’s a memorial to Paul the octopus at the Sea Life Centre in Oberhausen after the cephalopod seer earned worldwide fame by correctly predicting the outcome of all Germany’s seven games at the 2010 World Cup

That’s SpaceX out of the way. Next, investors will have to absorb the artificial-intelligence titans behind the Claude and ChatGPT chatbots, Anthropic PBC and OpenAI.

JPMorgan Chase & Co.’s public finance department hired a Goldman Sachs Group Inc. banker to specialize in prepay energy deals, marking a major hire for the team as the firm ramps up its work in the sector.

Things change fast in artificial intelligence. One minute corporate desk jockeys are competing to use AI coding and reasoning tools as much as possible, the next their bosses are complaining about budgets being pulverized and start rationing usage.

The jury is still out on whether SpaceX is primarily a rocket company, as its name suggests, or actually more of a telecom provider or artificial intelligence play. Its expected valuation doesn’t help resolve the confusion.

The initial public offering for SpaceX is poised to generate billions of dollars in profits for the fortunate few investors who got in early on Elon Musk’s rocket, satellite and artificial intelligence company.

As shareholders rush to pull money from private credit funds over troubling questions about software exposure, opaque loan values and non-payments, some bond investors are doing the opposite: buying their debt.

Attractive yields and strong credit fundamentals are setting the municipal bond market up for a solid second half of the year, said Paul Malloy, the head of municipals at The Vanguard Group Inc.

Prepaid energy deals are complicated transactions that allow utilities to lock in cheaper prices over long periods of time. They involve a financial middleman that receives bond proceeds in exchange for making regular payments needed to procure the energy for the utility.

With a new boss at the helm and expectations of billions in surplus gas revenue, the Qatar Investment Authority spent the past year telegraphing a step-up in dealmaking. Iran’s attacks on the country’s energy infrastructure and Doha’s inability to ship products risk hampering that push.

Sentiment in the US stock market has shifted quickly from fear of missing out to fear of getting wiped out.

Ratings that underpin a growing slice of the $1.8 trillion private-credit market, the hottest corner of Wall Street in recent years, are systematically understating investment risk, according to a new study by Columbia Business School researchers.

A simple view of SpaceX is that it’s a low-cost rocket launcher that created the profitable Starlink satellite business and which is now burning cash to build orbital data centers and colonize Mars.

Tim Cook’s last annual showcase of new software as Apple Inc.’s chief executive officer also marked the start of a deepening relationship with one of his biggest competitors: Alphabet Inc.

The rise in US yields has extended across the entire Treasury curve, creating a charged backdrop for Fed policymakers and their new chairman, Kevin Warsh, who helms his first meeting and press conference next week.

US stocks have further to run as corporate earnings growth underpins sentiment despite some signals suggesting equities may have risen too far, JPMorgan Asset Management’s Jack Caffrey said.

The US trade deficit narrowed in April as a surge in oil exports helped offset ongoing increases in imports of equipment powering the data center buildout.

Interactive Brokers Group Inc. is offering exchange-traded funds from BlackRock Inc. in savings plans in Europe, the latest platform to provide the booming product that’s become increasingly popular with mom-and-pop investors on the continent.

The history of megacap initial public offerings shows that the stocks usually slump in the first year of trading. But upcoming listings from SpaceX, Anthropic and OpenAI are big enough and systemically important enough to the market that those analogies may not apply.

My industry soundings are far more upbeat: When it happens, it would start as a trickle, but very quickly — in just a handful of weeks, if not days — transform into an oil flood. I’m on the side of the bears, as you may have guessed.

Credit heavyweights like DoubleLine Capital LP and Oaktree Capital Management are buying debt now that can perform well if the artificial intelligence boom turns into a credit bust.

US stocks bounced back on Monday from the worst rout this year, as a selloff in technology stocks eased and traders assessed flaring tensions in the Middle East, which supported oil prices and energy shares.

The bar for a Federal Reserve rate hike is falling as the job market remains robust in the face of stubborn price pressures, according to Collin Martin at the Schwab Center for Financial Research.

Apple Inc. investors have spent nearly two years clamoring for the iPhone maker to make a big splash with artificial intelligence. Their wait may finally be coming to an end this week at the company’s annual Worldwide Developers Conference.

Google parent Alphabet Inc.’s municipal-bond market debut was met by a surge of investor interest.

The $1.8 trillion private credit industry is finding out that trying to shake investor angst about the market is more of a marathon than a sprint. Such is the nature of long-term lending — there are few quick answers to the concerns that the market became too concentrated on software assets, a sector that’s ripe for disruption by artificial intelligence.

SoftBank Group Corp.’s payments unit is buying the life insurance unit of T&D Holdings Inc. for ¥134.3 billion ($840 million) to broaden its offerings and better compete in Japan’s ballooning fintech market.

Some of that tension is also being felt by their clients, advisers say. Along with the anticipation of a life-changing windfall, the initial public offering is eliciting more complicated emotions, as well, ranging from apprehension to confusion.

Currencies in the developing world sank after a blowout US jobs report provided the clearest sign yet that the labor market is breaking out of a prolonged period of lackluster hiring, undercutting the case for rate cuts from the Federal Reserve.

The largest ski resort in the US, in a corner of Utah long popular with wealthy travelers and second-home buyers, is expanding — and turning to the municipal bond market to help pay for it.

When someone told me recently that her favorite use of AI is for financial advice, I was horrified. I am a retirement economist, and my first reaction was self pity: Now I know how doctors feel when people use AI for medical questions.

Elon Musk can still enchant investors with his vision of the future. Any questions about SpaceX’s record-breaking initial public offering — be it about the valuation, the company’s trajectory or technical execution — were brushed aside as the retail marketing for the deal got under way.

The stock market keeps setting records. Bitcoin has minted millionaires. Gold has peaked at new levels. Yet one of the most popular trades is to sit in cash or, more precisely, money-market funds.

Soaring US power bills are threatening to claim their biggest victim yet — the nation’s largest electric grid operator.

While insurance coverage has broadly kept pace with rising catastrophe exposure, the protection gap — in absolute terms — has gone up as the value of exposed assets has grown, the Swiss Re Institute said on Wednesday.

A seemingly endless appetite for buying US stock dips has propelled Vanguard Group’s S&P 500-tracking ETF past $1 trillion in assets, making it the first fund of its kind to reach a milestone once thought unimaginable for the ETF industry.

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon plans to discuss the upcoming SpaceX initial public offering with thousands of the bank’s high-net-worth clients, part of an unprecedented nationwide push in coordination with the rocket maker’s leaders.

Cliffwater LLC’s flagship private credit fund capped redemptions at 5% in the second quarter after investors looked to pull about 17% of shares, in a sign of enduring pressure on the $1.8 trillion market.

Foreign investors led by the likes of Stanley Druckenmiller and major Wall Street banks are returning to Argentine stocks this year after some had exited ahead of 2025’s volatile midterm election cycle.

Wellington Management Co. agreed to buy the asset-management division of Hartford Insurance Group Inc. as the Boston-based investment firm pushes ahead with a wealth expansion.

As billions of dollars leave Bitcoin and Ether funds, money is flowing into a corner of crypto that promises something investors have long struggled to find in digital assets: a clearer path from economic activity to token value.

A private credit fund jointly managed by Future Standard and KKR & Co. sold $900 million of junk bonds on Monday, according to people familiar with the matter, in a rare high-yield offering by a publicly traded credit fund.

Blackstone Inc. has entered an agreement to provide Nippon Life Insurance Co. with investment services, adding to an increasing number of tie-ups between private investment firms and Japanese insurers.

Google parent Alphabet Inc. is poised to enter the municipal-bond market’s prepaid energy space by participating in a $1 billion transaction out of California, a major development in the evolution of a booming segment.

A key source of demand for corporate bonds may be fading now that managers of company pension funds have more than enough money on hand to pay their retirees.

Investors are about to get a read on the durability of the soaring rally in cybersecurity stocks when two of the industry’s major players report earnings in the coming days.

Elon Musk’s SpaceX is negotiating to pay razor-thin fees to Wall Street firms handling its IPO — but banks are still likely to rake in about $500 million from the record-setting market debut.

The announced expansion comes as the US races to provide huge amounts of electricity for AI data centers, with nuclear power emerging as one of the big winners. The Trump administration is pushing to quadruple output from nuclear plants which will require a leap in uranium fuel production to meet the challenge.

Caution has become the most expensive position on Wall Street. A hot inflation reading this week — sending the annual gauge to its highest in about three years — landed alongside fresh strikes in the Persian Gulf and enduring expectations that the Federal Reserve may need to keep policy tight.

Investors are pouring money back into municipal bonds as higher yields and the approaching summer reinvestment season draw cash into the tax-exempt market.

It’s not often that investors encounter something truly new in markets. But they will soon when Space Exploration Technologies Corp., OpenAI and Anthropic PBC go public with trillion-dollar valuations, or close to it. No company listed in the US has ever come to market so extravagantly priced — by a long shot.

Mentioning artificial intelligence to the graduating class of 2026 has been sure to get you booed. And why not? Fresh graduates have spent the past few years being told about the wonders of AI and watched seniors struggle to get a toehold in the labor market.

The industry is entering a more customized phase of liability-driven investing, he said. While earlier stages focused on adding duration and raising fixed-income allocations, better-funded plans are now tinkering at the margins to more precisely match their holdings with their obligations.

US stocks headed for a positive open on Monday as traders remained hopeful that Washington and Tehran would strike a peace deal, even amid a rise in oil prices.

Nvidia Corp. is entering the PC market with a new chip aimed at loosening the stranglehold of Intel Corp. technology in that arena and modernizing the machines for the AI era.

Massachusetts Mutual Life Insurance Co. agreed to have Nationwide Mutual Insurance Co. reinsure a book of life insurance policies, freeing up about $6 billion of reserves.

The Bloomberg Dollar Spot Index is up 0.7% so far in May, as investors ramped up bets that the Federal Reserve will raise rates by early 2027, boosting the appeal of US assets. The gauge is on track for only its fourth monthly gain since the greenback’s 2025 downtrend began.

If you want a blueprint for how countries can survive this era of great power rivalry, look no further than Vietnam.

Growing excitement around the burgeoning space economy is increasingly favoring companies positioned to benefit not only from Elon Musk’s SpaceX filing for a public offering, but also from rising enthusiasm for space exploration and increased funding.

Large asset managers are rolling out a wave of actively managed emerging-market ETFs, pitching them as alternatives to benchmarks increasingly dominated by AI stocks.

Treasuries rallied back to be little-changed on the day, erasing earlier declines spurred by higher oil prices, after a key US inflation gauge rose less than expected.

Shares of retailers spanning Kohl’s Corp. to Best Buy Co. and Dollar Tree Inc. rose on Thursday amid optimism that shoppers are still spending when they see what they want at the right price.

An abundance of cash in US funding markets appears to be driven by deeper structural shifts that are unlocking billions of dollars in balance-sheet capacity at the biggest banks, Wall Street strategists say.

Coverage of prediction platform Polymarket has recently converged on a single statistic, delivered with the cadence of a verdict: Most users lose money. The top 1% of accounts capture roughly three-quarters of the gains, while most traders since 2022 are underwater.

Bankers are preparing to sell a jumbo debt package to support the $110 billion acquisition of Warner Bros. Discovery Inc. It’s a risky deal and comes at a moment when the bond markets have been wobbling.

The breakneck surge in memory-chip stocks is intensifying, sending the market capitalizations of SK Hynix Inc. and Micron Technology Inc. above $1 trillion for the first time, as investors bet the AI boom will lead to a sustained revaluation of the industry.

Despite the pickup, India’s municipal paper still makes up for less than 1% of the total rupee bond sales. By comparison, the segment represents 7% of the overall bond market in the US, according to CareEdge Ratings’ January report.

Almost two-thirds of fund managers permit some level of “nuclear exposure,” with 34% allowing investments in nuclear weaponry, according to Jefferies Financial Group Inc.’s fourth-annual ESG and defense survey.

The White House’s decision to take a 9.9% stake in Intel Corp. is looking like very shrewd business indeed. Since the government bought in at $20.47 a share last August, the American chipmaker’s surging stock price has delivered the US a $43 billion return.

The SpaceX initial public offering prospectus is more than 400 pages of rocket fuel-grade ambition. It is also an extended warning for investors in Tesla Inc. who aren’t named Elon Musk.

Quantinuum Inc., a quantum computing company backed by Honeywell International Inc., is seeking to raise $1.05 billion in its US initial public offering, capitalizing on investor enthusiasm for the technology.

Prudential Financial Inc.’s asset-management arm has financed about $4 billion of land-banking projects through a partnership with Domain Real Estate Partners, part of a push to gain exposure to the US homebuilding industry.

As Kevin Warsh takes the helm at the Federal Reserve, bond investors are betting he’ll prioritize the central bank’s inflation-fighting credibility over President Donald Trump’s push for lower interest rates.

It’s been more than three years since Silicon Valley Bank lost a quarter of its deposits in a day, kicking off a string of bank rescues. The shocking speed of that run was attributed, in part, to the rapid spread of information on social media and the efficiency of digital banking.

I’ve lost count of the praise heaped on US hedge funds for their “historic performance” in April on artificial intelligence-related bets and alleged foresight of a ceasefire in the Iran war.

Elon Musk has bucked the trend of industrial conglomerate breakups, including such illustrious companies as General Electric and Honeywell International Inc., and decided to form a somewhat unwieldy company that makes rockets, spacecraft, satellites, antennas, modems and now computer chips. With SpaceX’s purchase of Musk’s xAI in February, the world’s leading space company was married to an AI startup and the X social media platform.

While US financial markets brace for what could be the three biggest initial public offerings ever, most entrepreneurship in the US is headed in the opposite direction: New businesses are shrinking.

There is a growing risk of economic overheating in the US as the artificial intelligence boom expands beyond semiconductors and spills into the broader economy — never mind the tame wage growth and house prices that would typically point in the opposite direction.

The average size of a single-family house built in the 1960s was about 1,500 square feet, and homes within multifamily units were about 800 square feet. Now those figures are more than 2,000 square feet and more than 1,200 square feet, respectively.

Private credit managers are increasingly turning to the once-unthinkable: Trading in and out of loans to dump troubled assets and hunt for bargains amid the industry’s first stress test after years of breakneck growth.

US stocks advanced as investors struck an upbeat tone ahead of a long holiday weekend, with optimism fueled by hopes for resolution of hostilities in the Middle East, resilient economic data and relentless enthusiasm for artificial intelligence-linked trades.

Hedge funds have been selling the scorching rally in US semiconductor stocks to book profits, while keeping their overall exposure to the AI theme, according to traders at Goldman Sachs Group Inc.

Even if armchair investors are fleeing private credit or panicking that their unlisted shares in Anthropic PBC are now invalid, the long-term trend is clear: Public markets keep losing ground to private funds.

At first glance, the retreat of foreign asset managers is ominous. Signs of a domestic retail frenzy are everywhere. Cash deposits in local brokerage accounts have reached 137 trillion won ($91 billion), a two-third jump from six months ago.

There’s a whiff of panic among investors these days. US Treasury yields have climbed to levels unseen in more than a year at the same time as a furious rally has left stocks near all-time highs. Surely, both moves can’t coexist for long, goes the narrative.

Wall Street is racing to turn computing power into a tradable commodity with the first ETFs being filed even before the futures contracts they would track have started to trade.

Nvidia Corp., facing more investor skepticism, used its latest quarterly report to tout progress in diversifying the company, which aims to rely less on the giant data center operators that have fueled its runaway growth.

Najimah Roberson, a lifelong renter, spent the past two years searching around Harrisburg, Pennsylvania, for a home she could afford — getting outbid nearly 30 times along the way.

Space has evolved from a niche corner of the stock market into an area that offers the potential for diversity and growth. The euphoria around SpaceX’s market entry is driving fresh investor flows into the sector. Since the news of the offering first became public in early December, smaller space and related stocks have soared.

Turns out, loading up on technology giants isn’t the only route to better returns. Value companies, too, stand a decent chance of trouncing the market — as long as several conditions are met.

For much of the year, chip stocks have been powering the market higher. Now, Nvidia Corp.’s earnings have a chance to confirm that the rally has more room to run — or add another brick to investors’ wall of worry.

Veteran strategist Jeff Currie said the world is in the early stages of a commodity supercycle that may last another decade or more as the artificial intelligence buildout collides with chronic underinvestment in energy and materials capacity.

The Texas Permanent School Fund bought more than 29 million shares totaling about $740 million worth of the State Street IG Public & Private Credit ETF, trading under the ticker PRIV, in the first quarter, according to a filing Friday.

The 30-year rate increased six basis points to 5.18% on Tuesday, a level last seen on the brink of the global financial crisis in 2007, rising alongside US government yields across maturities.

Investors are pouring money into commodities funds as the US-Iran war stokes inflation, according to Invesco Ltd.

The nothing-burger that came out of the Xi-Trump summit drove home a new reality for global investors. The NACHO trade, which stands for “not a chance Hormuz opens,” is on. Prospects of prolonged inflation have risen, sending global bond yields higher and the US dollar stronger.

Federal Reserve chair Jerome Powell steps down this month after proving himself an exemplary public servant. Compelled to deal with a president intent on telling the central bank what to do, his response was exactly right. Reluctant to confront the White House until he had no choice, he then did so firmly, without needless drama or any trace of ego.

We’ve all been in meetings that “could have been an email,” so why not have a jury trial that could have been an AI prompt?

I was in West Texas recently to witness firsthand the emerging practical applications of artificial intelligence. What I saw bolstered my conviction about the technology’s progress and the need to mold it rather than resist the change.

Investors were forced to pay attention Friday, when the most interest-rate sensitive corners of the market saw big plunges in an ugly market selloff. The small-cap Russell 2000 Index dropped 2.4% for the biggest single-day decline since November.

NextEra Energy Inc. agreed to pay about $67 billion in stock for Dominion Energy Inc. in the biggest power acquisition ever, creating a giant utility extending from Florida to the data centers clustered in Virginia.

Yields on US bonds dipped as much as three basis points Monday after Iran’s semi-official Tasnim reported that Washington proposed a temporary waiver on Iran oil sanctions until the final agreement, citing a source close to the negotiation team.

In the race to build the infrastructure that powers artificial intelligence, Alphabet Inc.’s Google has an enviable position: The company has a healthy cloud computing business, makes its own chips, and has struck deals to share them with companies like Anthropic PBC and Meta Platforms Inc.

America is fast becoming a country with two economies: a stagnant one for men and a growing one for women. So far this year, the US has created more than 165,000 private-sector jobs, and 72% of them went to women. To some extent this reflects a structural change in the economy, as growth is in industries more likely to employ women, such as healthcare.

Rising bond yields curbed traders’ appetite for risky bets early Friday, sending stocks lower following a weeks-long record-setting rally driven by a rush of cash into all things artificial intelligence.

Investors shed government bonds around the world, propelling borrowing costs to multi-year highs from Japan to the US amid intensifying fears that war-driven inflation will force central banks to pursue higher interest rates.

Elon Musk’s ambitions for artificial intelligence are coming together in a former vacuum-cleaner factory in Memphis, Tennessee.

With stocks near all-time highs, the need for change is hardly obvious. Proponents argue that requiring fewer reports will reduce the time and cost of compliance. Some blame an increase in disclosure demands over the last three decades for a sharp decline in the number of public companies.

While US stocks have been going from one record to the next, global asset allocators haven’t quite kept up. And that may keep the market’s upward momentum intact as fund managers try to catch up.

Investors are growing increasingly optimistic about Amazon.com Inc.’s position in artificial intelligence, lighting a fire under the stock and sending the company’s market capitalization soaring toward the rarefied $3 trillion level.

In today’s war-torn market, both are the supplier of last resort. One provides dollars; the other barrels. But that’s where the similarities end. The central bank can print the currency at ease; the drillers cannot.

Ford Motor Co. has finally hit upon an electric strategy that shouldn’t lose money. The key element is that it doesn’t involve vehicles — not for now, anyway.

Apollo Global Management Inc. announced last week that it will soon provide daily pricing for its private credit. It may not sound like a big move, but its decision to lift the veil on these assets could be the most impactful development in financial markets and investing in a long time.

State revenues are softening, and rainy day fund capacity has declined for the first time since the Great Recession, he wrote in his second quarter outlook report released Wednesday. The end of pandemic-era stimulus programs, slowing tax collections and rising costs are all adding to the weakness.

US equity futures pushed higher early Wednesday as traders snapped up technology shares after a pullback in the group, with enthusiasm around strong earnings outweighing a resurgence in inflation.

The nuclear power industry is booming. With electricity demand surging, dozens of nations have set a goal of tripling the world’s capacity by 2050. And the US, which has the biggest fission fleet, is pushing to quadruple output from its reactors.

Alphabet Inc.’s Google introduced a new high-end laptop segment called "Googlebook" that will run Android and prominently showcase Gemini artificial intelligence. Hardware partners Dell Technologies Inc., Lenovo Group Ltd. and HP Inc. will debut models built on the platform in the coming months.

Mamdani called the pied-à-terre tax and the change in the unincorporated business tax credit, which would mostly affect affluent taxpayers, “common-sense measures.” He said the city is working with Albany on plans to administer the second-home levy.

Nvidia Corp. co-founder Jensen Huang joined US President Donald Trump on his visit to China as a last-minute addition, thrusting AI and technology into the spotlight before a high-stakes Beijing summit.

AI infrastructure costs just keep on rising. Big tech firms are likely to invest several trillion dollars over the next few years to satisfy your ChatGPT and Claude habit.

The nearly $13 trillion market isn’t the flashiest outpost on Wall Street, but it’s the vital plumbing that keeps the money flowing. Through repurchase agreements, or repos, firms exchange Treasuries for cash — typically overnight — providing the short‑term funding that underpins trading, settlement and market‑making across the financial system.

China investors are counting on the summit between Xi Jinping and Donald Trump to deliver just enough to sustain the detente trade underpinning stocks and the yuan.

A scorching rally in Intel Corp. shares is threatening huge losses for traders wagering that they’re due to fall. But that isn’t stopping them from placing those bets.

United Airlines Holding Inc. is returning to the municipal bond market with a junk-rated $256 million sale, after last year’s volatility forced it to postpone the deal.

Copper headed toward its highest close ever — and other metals advanced — as traders shrugged off the apparent deadlock between the US and Iran to join a broader rally for risk assets.

Oil rose after US President Donald Trump rejected Iran’s response to his latest peace proposal, prolonging the effective closure of the crucial Strait of Hormu

Retail traders largely sat out a record-setting advance in chip stocks in April. Now they’re diving in just as worries mount that the group’s rally may be losing steam.

Cerebras Systems Inc. increased the size of its initial public offering, now seeking to raise as much as $4.8 billion, as demand for the artificial intelligence chipmaker and data center operator’s shares continues to build

Putting money directly into Trump accounts is fundamentally different: It goes directly to the beneficiaries. Whether it will be more effective at improving prosperity or reducing populist anger is unclear. The public/nonprofit model can be better targeted and address specific societal needs, such as hunger or education.

DoubleLine Capital’s Jeffrey Gundlach is repositioning some of his funds for the extreme scenario that the US government could choose to restructure its debt in response to a potential future recession.

US stocks were on track for a record closing high, buoyed by semiconductor stocks, strong monthly payrolls figures and a US-Iran ceasefire that appeared intact even with overnight clashes near the Strait of Hormuz.

US employers added more jobs than expected for a second month and the unemployment rate held steady in April, indicating the labor market is holding up despite rising energy costs sparked by the Iran war.

Warren Buffett shared his usual wisdoms about patience, diligence, prudence and kindness in a CNBC interview the morning of Berkshire Hathaway Inc.’s annual meeting last Saturday, the first in many decades that the oracle did not lead. But the sign that hung above him spoke loudest.

The Artemis II mission was a glorious moment for space exploration and a sign of a potential $1 trillion investment boom in the global space industry over the next decade.

Exchange-traded funds can be the source of liquidity that retail investors need after ramping up exposure to private assets, BlackRock Inc. executives wrote in a report.

An historic surge in US stocks has pushed equities to fresh highs, yet signs of overheating sentiment suggest that the rally may be entering a slower phase.

For a bunch of unremarkable warehouses, they’re generating a lot of controversy. Data centers — low-slung facilities that house the server racks and energy systems that underpin the digital economy — have become a heated issue on the campaign trail. Politicians from both parties are pushing bills to restrict them. Some want a nationwide “moratorium.” That would be a historic mistake.

Wall Street banks are getting ready to raise billions of dollars taking data center companies public, even after IPO investors have already piled into anything that looks like a bet on artificial intelligence spending.

The thinking behind space solar makes some sense: The sun doesn’t always shine on Earth, which means solar panels on the ground aren’t always gathering energy. There are no clouds to block the sun in space, so aside from a couple of times per year around the equinoxes, panels in GEO are constantly bombarded with solar rays.

Sometimes small changes speak loudly. Deutsche Bank AG’s new chief financial officer, Raja Akram, put the German lender’s consumer and asset management businesses before its corporate and investment banking units in his first earnings presentation last week.

Is good news about the economy bad news for the stock market once again?

Investors are piling into municipal bonds at the fastest rate in five years, drawn by attractive yields and the promise of a safe harbor from recent market volatility.

SpaceX also is ramping up its spending. The company said in April it’s struck an agreement for the right to acquire artificial intelligence startup Cursor for $60 billion later this year, or to pay $10 billion for the companies’ work together.

Microsoft Corp. may shelve one of the industry’s most ambitious clean-energy targets as it tries to remove hurdles that could hold it back in the race to power data centers, according to people with knowledge of the matter.

Affordability is a major problem that is finally getting the attention it needs. As important is directing that attention at the root cause of America’s cost-of-living crisis: inadequate wages.

Throughout Europe, companies are facing a quandary: How can they afford immense investments in decarbonization when a combination of now-surging energy prices, Chinese overproduction and US tariffs threatens to undermine their existing businesses?

Morgan Stanley and JPMorgan Chase & Co. are leading the process, according to people familiar with the matter. A large majority of the financing is expected to be in the form of debt, with the rest equity, the people said, asking not to be identified discussing private information.

Abel, known as a shrewd operator who’s always looking for ways to improve profits at the $1 trillion conglomerate’s varied businesses, said he had just one thought at the time: The company had already shelled out the money to book the arena for the annual meeting in 2026.

There’s no doubt that Amazon will begin to take market share now that it has declared that its third-party logistics business is here to stay. This move allays concerns among potential customers that Amazon’s offerings wouldn’t be permanent or would take a back seat to its own volume during periods of peak freight.

There is also a popular notion that bond traders can see the future, that they know what inflation will be or if a recession is coming. But bond markets are often wrong. And they may be wrong now because bond yields are low relative to the risks the economy faces.

It may be a cliche to invoke the pick-and-shovel sellers of the California Gold Rush, but what better way is there to frame what’s happening to Apple Inc.?

Alphabet Inc. is selling its biggest-ever euro-denominated bond and tapping the Canadian dollar debt market just months after record-breaking deals in other currencies, showing the huge funding needs of its ambitions in artificial intelligence.

As the first-quarter reporting season winds down, companies are emerging from an earnings-related blackout. About 40% of corporates are currently in the so-called open buyback window, which is expected to remain open until June 12, according to Goldman Sachs’s buyback desk.

US transportation stocks plunged Monday morning after Amazon.com Inc. announced expanded logistics offerings that will turn it into a major competitor for parcel carriers and air freight companies, and also impact truckers and third-party brokers.

The world’s biggest technology companies posted strong earnings last week, showing that the artificial intelligence boom is alive and well. But in the stock market, investors are getting more granular as they try to divvy up the winners and losers in the AI trade.

The part of the bond ETF complex that’s growing fastest isn’t that part. It’s the active and outcome-oriented funds — multisector strategies, flexible income vehicles, securitized credit funds, options-overlay products — that charge 0.30 to 1 percentage point and promise more yield, less duration, or both. And the marketing pitch behind them quietly elides something important.

It’s happening. California looks likely to put a “one-time” tax of 5% on wealth above $1 billion on the ballot in November, and polls suggest it could pass — despite opposition from some economists (not so surprising) and Democratic politicians (more so).

One of private equity’s biggest challenges right now is getting money back to investors. Advent and Cinven have just made a small dent in the industry’s mountain of unsold assets by agreeing the sale of TK Elevator to Finland’s Kone Oyj.

Streamlining the rules is undoubtedly appealing. The new proposal would do this, in part, by allowing the largest banks to use one method to calculate the risk of their assets instead of two, as currently required. That makes sense as far as it goes. Yet other requirements — including leverage ratios and certain capital surcharges — are being loosened or otherwise made more bank-friendly at the same time.

Artificial intelligence might be the most transformative technology ever devised. Exactly how its effects will work through the economy is impossible to say, but serious disruption of one kind or another seems likely. Millions of jobs — in the end, maybe most jobs — could radically change, and many will disappear entirely.

The Pentagon has struck agreements with four more technology companies for expanded use of advanced artificial intelligence tools on classified military networks, according to a Defense Department statement and two defense officials briefed on the matter.

President Donald Trump will sign an executive order aimed at expanding access to retirement plans for workers whose employers don’t offer that benefit, according to a White House official, a bid to refocus the administration’s messaging on economic issues.

When Jamie Dimon turned to competitive threats in his shareholder letter this year, the chief executive officer of JPMorgan Chase & Co. did something unusual: He named some. Citadel Securities LLC and Revolut Ltd. were two of the firms Dimon picked out.

Eli Lilly & Co. surprised Wall Street by raising its annual sales and profit forecast, as demand for obesity medications soared and thousands of patients started taking its new weight-loss pill before advertising for the drug had even begun.

The AI hyperscalers are lumped together for obvious reasons, but after the four largest reported their earnings on Wednesday night, it became abundantly clear that one of these big-spending giants is not like the others.

Days before his first annual meeting as the chief executive officer of Berkshire Hathaway Inc., Greg Abel is facing a problem that seldom confronted his legendary predecessor: a floundering stock price.

Applications for US unemployment benefits plunged to the lowest level in decades, a sign that job-cut announcements have not yet meaningfully translated into layoffs.

Inflation-adjusted gross domestic product increased an annualized 2% in the first quarter after the longest-ever federal government shutdown limited growth in the closing months of 2025, according to an initial estimate issued Thursday by the Bureau of Economic Analysis.

Meta Platforms Inc. is looking to sell between $20 billion and $25 billion of investment-grade bonds, according to people with knowledge of the transaction, as the Facebook parent boosts spending on infrastructure for the artificial intelligence boom.

The stakes for OpenAI are existential at worst and a serious burden at best as it seeks to go public. In preparation, the company has taken spring cleaning to the next level — embarking on a culling of “side quests” like the video creator Sora, ending some science research and even putting on hold its plans for an erotic version of ChatGPT.

So the question is not whether innovation can drive growth. It’s how much growth innovation can drive. The falling population and heavy debt load mean productivity will need to increase GDP by at least 2.5%, maybe 3% depending on the path of interest rates.

In a choppy year for tech investors, one trade has stood out as a success: buy chip stocks, sell software shares. And the divide between winners and losers is getting bigger as 2026 moves along.

For much of the past few years, US Treasuries have failed to serve their traditional role as a sure-fire refuge from global market meltdowns.

Hyperliquid, the decentralized crypto exchange that has emerged as one of the most active trading venues in digital assets, is proposing to add prediction markets to its platform — a direct challenge to Kalshi and Polymarket as the fast-growing sector draws new competitors.

Hedge fund manager turned NBA owner Gabe Plotkin, who shut his firm after a bruising showdown with meme-stock traders, is planning to convert some of his own assets into an ETF using a tactic that’s helped a slew of wealthy investors defer tax.

A few weeks ago, I sat down at my laptop and built a trading platform. It connects to three financial exchanges. It ingests news from RSS feeds, web searches, Reddit and Twitter.

If venture capital investment is a measure of the economic future, California would seem to have locked things up. In the first quarter of this year — by far the biggest quarter for US VC investment ever — an unheard-of 85% of the money went to California companies, according to the PitchBook-NVCA Venture Monitor. For all of 2025, California’s share was an also-unprecedented 60%.

Technology megacaps are pushing benchmark indexes to new records while the rest of the market is lagging behind. Traders can be forgiven for feeling like they’ve seen this movie before.

BlackRock Inc. is bringing its roughly $2.5 billion money market fund to cryptocurrency exchange operator OKX, with Standard Chartered Plc holding the underlying assets — the latest sign that Wall Street infrastructure and digital-asset markets are converging.

European stocks started the year much stronger than their US peers but the tantalizing prospect of the euro area clawing back some of its persistent gap in earnings growth, and the higher company valuations that come with it, looks to have slipped through its grasp again.

The chip industry seems to be the only game in town lately. The Philadelphia Semiconductor Index, known as the SOX, has risen 48% this year. Bourses in Taiwan, South Korea and Japan are riding the wave and hitting record highs, brushing away potential energy shocks from the military conflict over Iran.

Cook has spent 15 years focused on the King — the thousands of decisions about industrial design, manufacturing, and supply chains that make the iPhone an iPhone. Racing in AI would have meant counting pieces while leaving the King unguarded. Ballmer counted pieces, and it cost Microsoft $5.5 billion.

Many people seem surprised by the US stock market’s resilience during the Iran war. I’m not one of them, and I don’t see the war becoming a significant threat to the market, even if it drags on.

The world’s most important central banks will potentially hand investors fresh reasons to sell government bonds this week as policymakers find themselves forced to confront the risk of a war-driven inflation shock.

On Monday, the index returned to record highs, eclipsing the previous peak hit before the war started in Iran. Yet, when compared with the US market, emerging-market shares screen as cheaper than at the start of the war, reinforcing the case for investors to add exposure.

United Airlines Holdings Inc. Chief Executive Officer Scott Kirby confirmed he approached American Airlines Group Inc. and that talks have ended, laying out the virtues of a merger that he said could have strengthened corporate America and won approval from regulators.

US stock futures were little changed on Monday after a four-week rally, starting a busy week of corporate earnings and the US central bank’s policy meeting with a relative calm while investors monitor the reopening of the Strait of Hormuz amid stalled Iran peace talks.

A data center developer is seeking $4.54 billion in junk-debt financing for an artificial intelligence project tied to Nvidia Corp., testing investor appetite after a recent surge in offerings.

There’s no shortage these days of stories, posts and videos warning of the robot armies readying to vacuum up white-collar jobs in technology, finance, marketing, you name it. And there’s no doubt that artificial intelligence is rapidly changing how we live and work. Amid all this, though, a relative calm has descended on the labor market and should persist for the rest of this year, at least.

Budget airlines are going broke. Spirit Airlines may go under or get a government bailout, and JetBlue is just barely avoiding bankruptcy this year. It didn’t need to be this way. They tried to merge in 2024, but the merger was blocked because President Joe Biden’s administration was concerned that greater consolidation would lead to higher prices.

The bigger the vacuum becomes, the longer it will take to refill those inventories whenever whatever passes for normality finally arrives. Oil prices along the curve would need to rise accordingly to encourage excess production — or, conversely, achieve the same outcome by destroying demand.

Elon Musk’s SpaceX is no stranger to the stratosphere, and neither is its coming initial public offering.

As a more than $20 billion borrowing frenzy to build out data centers descended on the junk-bond market this year, some issuers offered up a rare sweetener: an early cash payback.

X-Energy Inc., a nuclear energy firm that counts Amazon.com Inc. as a backer, raised $1.02 billion in an upsized US initial public offering that priced above the marketed range.

Global bond markets are heading for their worst week in a month as investors grow increasingly uneasy about a stalemate between the US and Iran.

Intel Corp. shares are on track to hit their highest level ever after the chipmaker delivered a sales forecast that shattered Wall Street expectations.

After years weighing how to dive deeper into private credit, JPMorgan Chase & Co.’s $4.3 trillion asset manager is committing to a strategy that will plow tens of billions of dollars into loans sourced by the firm’s commercial bankers.

Jay Leno’s latest hosting gig involves a classic car, an airport construction site and municipal bonds.

Nearly two months into the conflict in Iran, global stock markets are staging a defiant rally. From the US to Taiwan and South Korea, a disconnect has emerged: while the geopolitical tensions remain high, equities are charging back toward all-time highs.

Intel Corp. has been one of the hottest stocks in the market over the past 12 months, soaring more than 240% to the highest price since the dot-com bubble. But the rally is facing a potential roadblock in the company’s first-quarter earnings report due after the close Thursday.

American Airlines Group Inc. lowered its full-year earnings target, saying it may end 2026 with a loss as the carrier absorbs $4 billion in additional fuel costs from the war in Iran.

Vanguard is boosting its holdings of Treasuries, taking advantage of higher yields following the Middle East conflict to lock in rates and hedge against the risks of a potential growth slowdown.

Stocks are trading near a record high, signaling Wall Street is learning to cope with lingering geopolitical risks. Main Street is struggling to catch up.

Investing pros say strong quarterly numbers that beat already lowered expectations aren’t likely to move the richly valued stock. Rather, Tesla needs one of two things to drag its shares out of their rut: Concrete signs of progress on its robotaxi plans or a shiny new object from Musk’s playbook that moves the goalposts for the company and resets the timer to show results.

Google has emerged as one of the most successful makers of in-house AI chips in an industry dominated by Nvidia Corp. TPUs have become a hot commodity in Silicon Valley in recent months, and the company is looking to build on that momentum with the latest versions.

In announcing on Monday that John Ternus would be succeeding Tim Cook as chief executive officer of Apple Inc. this year, the company’s board made it clear: We’re a hardware company and we’re going with the hardware guy.

JPMorgan Chase & Co. is working toward getting approval from Chinese securities regulators to launch actively managed exchange-traded funds in the country for the first time.

The Pentagon’s largest-ever budget request earmarks $75 billion for drones and technologies to counter them, mainly for a massive increase for a little-known office working with US commandos to test and evaluate various systems, according to defense officials.

Would you buy OpenAI’s shares even though the transaction might expose you to a liquidity crunch? SoftBank Group Corp.’s founder Masayoshi Son did just that.

Billionaire money manager Bill Ackman is giving away a stake in his firm to investors who support his latest hedge-fund launch. This looks like a good deal. And so it should: If you’re selling a fund in the form of an initial public offering, you have to dangle the prospect of a quick buck.

Ternus will have a challenge when he officially takes the job in September. Even as he maintains Apple’s device empire — and its more than $400 billion in annual revenue — the executive will need to take chances, enter new product categories and find the company’s footing in artificial intelligence.

What makes recessions so harmful to workers is the freezing of movement. The gears of the labor market — gears that are constantly shuffling workers from job to job to unemployment to job again — slow to a crawl.

Developers including D.R. Horton Inc., Lennar Corp. and KB Home all missed expectations last quarter and estimates suggest both sales and earnings have fallen further as conflict in the Middle East unsettled buyers and raised costs.

Strategists at some of Wall Street’s biggest banks are upbeat on the outlook for US earnings after a positive start to the first-quarter reporting season.

Investors are set to pour more money into defense, energy and technology stocks as the Middle East war forces governments to prioritize security and become more self reliant.

The housing industry had good reasons for optimism heading into 2026. Transactions were picking up after three listless years as improved affordability and decent inventory levels brought buyers back into the market.

Sam Altman, the chief executive officer of OpenAI, said at a finance conference in October 2023 that he and his “CEO friends” were running a betting pool on when the first one-person billion-dollar company would be created thanks to artificial intelligence.

EQT AB, Europe’s biggest private equity firm, says the path to exiting investments in clean-energy developers and operators faces a growing number of hurdles.

Bitcoin’s recovery above $75,000 has a credibility problem: the traders with the most leverage don’t believe in it.

US stocks rallied Friday after Iran said it would open the Strait of Hormuz following the truce between Israel and Lebanon, promising to ease an oil shock that has shadowed the global economic outlook ever since President Donald Trump started the war seven weeks ago.

Intel Corp. shares leaped to their highest intraday level since the dot-com era on Friday as optimism that the chipmaker’s turnaround plan is working continues to grow.

During and immediately after the financial crisis of 2008, there was much talk and academic research about the rapid growth of the US financial sector over the preceding decades and whether that was good or bad.

For the first time, stablecoins have surpassed the Automated Clearing House (ACH) payments network in monthly transaction volume. According to blockchain analytics platform Artemis, stablecoins processed $7.2 trillion in February, topping the ACH’s $6.8 trillion.

As private credit managers mount a spirited defense of their industry to discourage investors from fleeing, they’ve found at least one persuasive argument for why much of the cash they lent to software firms at the start of the decade shouldn’t be at risk.

The Iran war has created a reshuffle in investing. High-flying tech companies are out while unloved old economy names are getting a second look.

When Paul Atkins took the helm of Wall Street’s top regulator, he came with a long to-do list: craft rules for the cryptocurrency industry, make initial public offerings “great again” and ease financial reporting for public companies.

A dramatic shift is underway in US equity markets. Stocks hit an all-time high Wednesday as Middle East peace hopes tamped down geopolitical anxiety, and derivatives traders who had pulled back from bullish bets are now racing to position for further gains in technology shares.

Hedge funds are increasingly downbeat on the dollar as the prospect of a two-week ceasefire extension between the US and Iran sap the currency’s war-driven strength.

Mythos, a new artificial intelligence model that Anthropic PBC has teased as too dangerous to release, looked at first like a problem for banks.

I came across a statistic the other day that goes against the intuition of practically everyone in the US who has a job: Americans are working less than they did in the 1950s and ’60s. How is this possible, when we all feel chained to our desks or our phones?

Bitcoin trended toward the high end of its more than two-month trading range as risk assets rallied on optimism that the US can strike a deal with Iran to end their conflict.

With the US-Iran war demonstrating not just how captive the world economy remains to fossil fuels, but also how easily energy can be weaponized, whether to drill at home is becoming an even more pressing question for some countries.

The S&P 500 Index is on track to close at its first record since January, as traders bid up stocks amid optimism over the ceasefire between the US and Iran and robust corporate fundamentals.

Wall Street has gotten repeatedly burned calling a bottom in software stocks, which have been hit hard by fears that artificial intelligence will make the companies obsolete. But this week’s bounce is bringing some bottom-fishing investors back to the group on hopes that the worst may finally be over.

Pacific Investment Management Co. bought all $400 million of bonds issued Monday by a Blue Owl Capital Inc. private credit fund, according to people with knowledge of the matter.

Bank of America Corp. disclosed it has about $20 billion in private-credit exposure, as the bank and its Wall Street peers seek to calm concerns about the industry’s exposure to the asset class.

Morgan Stanley’s traders got a boost from President Donald Trump’s deregulation agenda. In the first three months of the year, Morgan Stanley plowed capital that was freed up after US regulators relaxed a key rule into its prime brokerage division and its macro trading desks, according to Chief Financial Officer Sharon Yeshaya.

Novo Nordisk A/S will integrate OpenAI’s artificial intelligence across the company to accelerate drug development.

Treasuries traded steadily after a reading of US wholesale prices last month rose less than anticipated, affirming wagers that the Federal Reserve will cut interest rates at least once this year even as the broader inflationary outlook remains murky amid the war in Iran.

JPMorgan Chase & Co.’s traders posted their highest-ever quarterly revenue in the first three months of the year, with record stock-trading results boosting the total past the firm’s previous record by almost $2 billion.

BlackRock Inc. Chief Executive Officer Larry Fink sees increased demand for private credit from big institutional investors like insurers, even as retail clients grow skittish over the asset class and seek to redeem more of their shares.

Once upon a time, not so long ago, about a third of all American workers had a gold-plated pension: When they retired, someone paid them nearly their full salary for the rest of their lives. They didn’t have to worry about the market, or inflation, or running out of money.

Sportsbooks profit from customer losses, making them structurally predatory. Kalshi, by contrast, operates as a peer-to-peer exchange: customers bet against each other, Kalshi takes fees from both sides, and the house has no stake in the outcome. It's a financial market, not a casino.

With the Middle East in flames and a fifth of the world’s supplies of oil and gas in limbo thanks to the uncertain status of the Strait of Hormuz, it’s tempting to imagine that a clean-energy world might leave such conflicts behind.

Wall Street strategists expect the Federal Reserve to take a slow and careful approach to winding down a program meant to help ease pressure in funding markets.

Accelerating earnings are protecting the S&P 500 from deeper losses and masking a broader pullback in US equities, according to strategists at Morgan Stanley.

Intel Corp. has quickly become one of the hottest stocks in the S&P 500 Index thanks to a nine-day surge that has added more than $100 billion in market value.

Bond traders held onto wagers that the Federal Reserve will lower interest rates once this year after data confirmed that US inflation quickened in March as the Iran war led to higher gasoline prices.

Late last month, Blackstone Inc. announced the first inbound Gulf private equity deal since Iran started attacking Middle Eastern hubs, while Citigroup Inc.’s top boss fired off a 600-word memo underlining the bank’s enthusiasm for its business in the region.

US equity futures stalled after a seven-day rally as investors weighed whether a fragile truce between Washington and Tehran can hold, and oil headed for its biggest weekly loss in nine months.

By at least one metric in the $9.5 trillion foreign-exchange markets, demand for the dollar is ebbing amid the tenuous ceasefire between the US and Iran.

The idea that this would be enough for “new UMG” to almost double the current one’s valuation doesn’t add up at a time when artificial intelligence is creating doubts about the industry’s future. And it’s unlikely on its own to tempt dominant shareholders such as French tycoon Vincent Bollore. The proverbial fat lady has yet to sing.

After months of sluggish returns, Nvidia Corp.’s stock is rallying again and close to breaking out of its narrow trading range, which market technicians see as a bullish signal.

Ship traffic through the Strait of Hormuz remained blocked Thursday, even as a handful of Chinese vessels lined up to escape, with a very fragile ceasefire between the US and Iran yet to improve traffic flows in the region.

Every twist in the Iran conflict — every ceasefire bet, every missile strike, every shift in tanker traffic — shows up almost instantly in a $65 million exchange-traded fund that most investors have never heard of.

In essence, the IPO is an acknowledgement that the ChatGPT-maker, which just raised $122 billion from investors at a valuation of $852 billion, needs what seems to be an endless amount of money to fund its race for artificial general intelligence.

Tesla Inc. and its Chief Executive Officer Elon Musk are a font of big numbers, real or imagined: A million robotaxis deployed, 20 million electric vehicles sold per year, “tens of billions” of Optimus robots stalking the Earth.

For centuries the so-called cannon shot rule determined who controlled the seas. The legal concept, codified by Dutch jurist Cornelius van Bynkershoek in 1702, was simple: The distance a cannonball reached from shore set the maritime boundary of a coastal state.

Global bonds surged Wednesday on news that the US and Iran had agreed to a ceasefire, pausing a war that roiled markets for weeks by delivering the worst oil shock in years.

US stocks rallied after President Donald Trump’s announcement of a two-week ceasefire in the Iran war spurred relief across markets.

European stocks soared the most in a year as investors rushed to buy stocks in the wake of the US and Iran agreeing to a two-week ceasefire in exchange for Tehran reopening the Strait of Hormuz.

Fresh data on the US labor market and new research from the Federal Reserve suggest that the conventional wisdom around employment growth being sluggish is wrong.

Cybersecurity stocks have sold off this year alongside the rest of the software sector, but with artificial intelligence increasing the potential threats from bad actors, investors risk missing out on the burgeoning demand for their services.

Finance has been moving fast. From crypto to prediction betting to exchange-traded funds to private credit, new markets—and risks—are proliferating.

Wall Street’s biggest ETF issuers are circling Invesco Ltd.’s Nasdaq 100 franchise, threatening to end its near-exclusive hold on the index.

The defining statistic of the so-called K-shaped economy is a little hard to define.

Call it the season of IPO prep. Recent launches and announcements from OpenAI and arch rival Anthropic are aimed at laying the groundwork to go public in late 2026 or early 2027, and for OpenAI, which just closed a $122 billion funding round that values it at $852 billion.

Cities such as New York and Chicago are in deep financial trouble. Broadly speaking, they have two options: Make the difficult but appropriate choice to raise taxes and reduce the scale of government, or continue to live in a state of denial, increasing their pension obligations while also promising their residents more services.

BlackRock Inc. is setting its sights on a corner of the $13.7 trillion US exchange-traded fund industry long controlled by Invesco Ltd: tracking the Nasdaq 100 Index.

The next 12 months are expected to bring a bumper crop of mega initial public offerings to market. Billionaire Elon Musk’s rocket, satellite and AI company SpaceX has reportedly filed for a potentially record-breaking offering.

US equities and crude oil prices edged higher as investors focus on signs of a potential diplomatic push toward a ceasefire in the Iran war.

Bond traders kicked off the week betting that the Federal Reserve will keep interest rates on hold for the coming year, with the Treasuries market holding steady ahead of President Donald Trump’s extended deadline for Iran to reopen the Strait of Hormuz.

SpaceX has filed confidentially for an initial public offering, according to people familiar with the matter, bringing billionaire Elon Musk’s rocket, satellite and AI company closer to delivering the biggest-ever listing.

The stock market is looking past the sharp interest rate hikes priced by Europe’s bond market, risking losses for investors backing the wrong outcome.

Big names in crypto, payments and cloud infrastructure are racing to build the financial plumbing for a world in which AI agents — not humans — handle transactions on the internet.

Less than two months ago, projections showed the US government on track to borrow some $2 trillion this year with budget deficits exceeding 5% of gross domestic product indefinitely. Since then, this dire outlook has worsened — thanks to the Supreme Court’s ruling on tariffs, the war with Iran, the prospect of slowing economic growth and rising interest rates.

Unilever Plc’s Fernando Fernandez haslucked out by selling the company’s food businesses, including Hellmann’s mayonnaise and Knorr stock cubes, to McCormick & Co. But Fernandez, who’s been chief executive officer for just over a year, shouldn’t squander his good fortune; he needs a clear vision for what comes next.

When Edward Jenner inoculated an eight-year-old boy with cowpox in 1796, the principle was radical: Expose a healthy body to a mild, manageable version of harm, and it builds the defenses to survive something far worse. The cowpox patient never got smallpox. Markets work in much the same way.

Now that Nelson Peltz has won a surprise bidding war for Janus Henderson Group Plc, the activist investor can start to revamp the $493 billion asset manager he has circled for years.

Eli Lilly & Co.’s Zepbound is helping to solve one of the most intractable health challenges of our time: Obesity. Now, the drugmaker hopes to crack another significant public health problem: Sleep disorders.

OpenAI has completed a deal to raise $122 billion from investors at an $852 billion valuation, marking the company’s largest funding round to date by far and bolstering its costly push for more chips, data centers and talent.

Hedge fund activist Boaz Weinstein is on the cusp of his most significant campaign victory yet — overhauling an investment trust whose claim to fame is an early bet on Elon Musk’s SpaceX rocket company. But the beleaguered target is doing a good job of trashing the prize pot.

The Iran war is challenging Japan’s safe-haven assets, once again forcing domestic investors to seek better returns abroad.

Warren Buffett cautioned that he’s seeing signs of fragility emerging in the banking system as it has become more connected to non-bank players.

On paper, Super Micro Computer Inc. is the type of company that Wall Street can’t get enough of, with soaring sales, an enviable list of partners like Nvidia Corp. and its placement at the center of the artificial intelligence boom.

Tech megacaps entered a correction, oil prices broke out, big-money funds retreated and small-lot investors showed waning conviction in buying the dip. While the war in Iran that triggered all that didn’t end a three-year bull run in US equities, it is shaking it to its core.

BlackRock Inc. plans to launch a fund next month focused on large Southeast Asian stocks, according to people familiar with the matter, a move supporting Singapore’s drive to boost liquidity in the local market.

A Japanese oil tanker slips through the Strait of Hormuz in the dead of night, radio silenced to conceal its position. Iran secures a market for its crude in defiance of Western sanctions. The balance of the world’s energy trade switches from incumbent hegemons toward emerging powers.

Does artificial intelligence herald soaring prosperity or mass unemployment, political breakdown and Orwellian subjection? Nobody, not even AI, can honestly say. Forced to guess, I’d predict some of both.

When someone says a retiree is “living off Social Security,” it’s not usually $100,000 a year.

Financial markets have been relatively unaffected by the costly and senseless war the US and Israel are waging against Iran. But what’s really surprising is the ongoing boom in investment banking.

A progressive rallying cry to tax the rich is being welcomed by traditionally Republican states, including Florida and Georgia, looking for a new pitch to draw migrants — especially wealthy migrants — from the coasts.

The wreckage in large technology stocks that sent the Nasdaq 100 Index into a correction is flashing signs that have marked turning points for the group in the past.

Some of Wall Street’s biggest bond-fund managers say financial markets are underestimating the risk that the US war in Iran will cause a sharp slowdown in an already sputtering economy.

Sovereign bonds rose around the world as concern the Middle East conflict will derail global economic growth revived demand for beaten-down government debt.

Meta Platforms Inc. was looking like the best Big Tech stock in the market when the year began. But investors’ fears of legal risks and heavy spending on artificial intelligence are bubbling to the surface, culminating in last week’s 11% rout.

Private credit managers are feeling sheepish. Some of their investors can’t get their money out as quickly as they’d like — and some may be quite angry about that.

Franklin Templeton is partnering with Ondo Finance to offer tokenized versions of its ETFs that trade around the clock through crypto wallets, bypassing the brokerage accounts and limited trading hours that have defined fund investing for decades.

Eve oversees dozens of brainiac office hands; monitors countless earning calls; keeps tabs on CEOs; parses corporate filings; conducts due diligence; brainstorms stock picks.

The war in Iran may be showing few signs of easing, but Wall Street strategists are encouraging investors to start buying stocks again.

The dollar is on track for its best month since July as the conflict in the Middle East scrambles Wall Street’s playbook for the world’s dominant reserve currency.

US stocks opened lower on Thursday, as hopes for a quick ceasefire deal between the US and Iran faded, and the escalating conflict pushed oil prices higher.

Canadian energy producer and Bitcoin miner New West Data is exploring a US initial public offering to help meet the growing need for powerful computing systems.

Crypto is moving deeper into the US financial system — this time through the mortgage market.

Gold's reputation as the ultimate store of value has been tarnished by its 15% decline since the Iran conflict began. It's failed to act as a haven or a geopolitical hedge.

Private credit funds lent a lot of money to software companies at the beginning of the decade when they were being snapped up in a rush of expensive buyout deals. Now many of these tech businesses are braced for disruption by artificial intelligence, and some might end up defaulting on that debt.

The Iran war has laid bare a paradox: Gulf money is helping underwrite America’s effort to win the artificial intelligence race, and now the US has started a conflict that could destabilize those investments.

US mortgage rates climbed for a third straight week, pushing home-financing costs to the highest since October and dealing a blow to both purchasing and refinancing activity.

A rush by bond traders to unwind US futures positions amid the selloff triggered by war in Iran is running its course, setting the stage for new wagers that will determine whether the rout reverses or deepens.

Even as war in the Middle East roiled markets this month, some investors are finding solace in Corporate America’s growth machine, which not only remains intact — but is showing signs of thriving.

The US economy looks amazingly resilient on the surface. Notwithstanding the two-month Covid-19 recession of 2020, the US hasn’t experienced a downturn since the end of the financial crisis in the middle of 2009.

One of the most compelling theories about the future of artificial intelligence comes, oddly enough, from a 161-year-old paper about the coal industry. In 1865, the English economist William Stanley Jevons observed that improvements to the coal-fired steam engine had not reduced Britain’s coal consumption.

China’s $1.57 trillion sovereign wealth fund - long one of the biggest backers of private equity firms in the world - is considering new allocations to US money managers just months after reducing its exposure to the world’s biggest economy.

In the stock market’s volatile and uncertain start to the year, one trade has held strong: go long memory and storage.

Gold steadied after a dramatic selloff that has pushed the metal down more than 15% since the start of the Middle East conflict.

BlackRock Inc.’s Rick Rieder, the firm’s top bond-market executive who was passed over by President Donald Trump to be chair of the Federal Reserve, is pursuing investor cash for his first hedge fund in years.

There are at least two conflicting narratives about Gen Z and young millennials. One is that they are extremely risk averse — afraid even to go out of the house, much less on a date.

Recent market performance for US consumer-discretionary stocks has been so ugly that it may be a great time to buy.

Dimensional Fund Advisors is becoming the first asset manager to launch an exchange-traded fund share class of a mutual fund since Vanguard Group’s patent on the model expired nearly three years ago.

Banks making loans to specialist fund managers instead of directly to companies is meant to act like a firebreak protecting traditional lenders against the risks of businesses going bust. But losses from financing private credit firms and other nonbank lenders are coming back to bite them — and it’s making their investors antsy.

Modern markets have gotten used to central bank support whenever the global economy wobbles. But as the world confronts a fresh energy shock unfolding against brittle labor markets, investors need to prepare themselves for the possibility that central bankers won’t have their backs — quite the opposite.

he shock to global oil supply this month has already been declared the greatest ever by the International Energy Agency, so it’s natural to draw parallels with the great shocks of the 1970s. But numerous other factors determine how serious the impact of any given hit to supply will be on the global economy.

When Walt Disney Co. announced in November 2022 that Bob Iger would return as chief executive officer, the market took it as an auspicious sign. The stock jumped more than 6% on the news, its biggest increase in nearly two years.

Confidence among global stock-market investors, who largely kept their cool in the face of an escalating conflict in the Middle East, is starting to wear thin.

The simultaneous patent expiry of Ozempic’s active ingredient in China and India on Friday is a watershed moment. Until now, the revolutionary weight-loss drugs have been available largely to people with means.

March Madness is losing much of what made it mad. Signs of the shift were clear last year. Cinderella teams, the low-seeded upstarts that are supposed to deliver upsets and attention, didn’t surprise anyone.

US futures extended a drop on Friday as earlier hopes for a quick resolution to the war in the Middle East faded. Meanwhile, traders braced for a historic amount of March options expiry.

Public markets give a running commentary on the biggest players in private markets. Over the last year, this has gone from good to bad to worse. The sector’s long-term growth prospects may be more-or-less intact, but the next few years probably won’t feel that way.

Amid uncertain times in the job market one thing stands out — Americans in their 50s are working like never before.

Alphabet Inc.’s Google is moving ahead with plans for a major data center in Michigan that features a 20-year electricity contract requiring it to cover the full expense of adding a haul of new clean power.

Gold sank for a seventh session as the escalating war in the Middle East drove oil prices higher and reduced prospects for a US interest-rate cut in the near term. Silver slumped more than 10%.

Japan’s equity investors will closely watch a meeting between President Donald Trump and Prime Minister Sanae Takaichi in Washington on Thursday for possible agreements on economic and military cooperation.

JPMorgan Asset Management is issuing its first Taiwan-focused wealth management product in more than a decade, joining global rivals rushing into one of Asia’s hottest exchange-traded funds markets.

Now that investors are aware of withdrawal limits, they’ll have a greater incentive to always ask for the maximum, requiring further asset sales that will depress returns — which, in turn, will encourage more withdrawals.

Federal Reserve officials left interest rates unchanged and continued to expect one rate cut this year as they acknowledged increased uncertainty due to war in the Middle East.

The European Union has unveiled a red-tape-cutting plan dubbed “EU Inc.” to boost the emergence of companies that could compete on the world stage with US and Chinese rivals.

There’s been no love lost between builders and buyers in the entry-level housing market over the past five years. Good news for one was invariably bad news for the other. But we finally seem to be hitting a sweet spot where both sides can be cautiously optimistic.

It’s been a volatile stretch for US equities as Wall Street tries to wrap its arms around the war in Iran. But with the fighting now in its third week, investors are becoming more sanguine about the stock market as signs emerge that the worst may be over.

US stock futures extend a two-day rally as investors remain cautiously optimistic amid rising energy prices and before the Federal Reserve’s interest-rate decision.

It took a war in Iran to reveal the full extent of billionaire Mukesh Ambani’s sway over the White House — and his centrality to mending the frayed US-India bilateral relationship.

JPMorgan Chase & Co. is leading a push by Wall Street banks to offload risky loans for acquisitions. The latest is a $2 billion debt sale to finance the purchase of asset manager Janus Henderson Group Plc by Nelson Peltz’s Trian Fund Management and General Catalyst.

Every financial crisis has a moment — usually identified only in retrospect — when an obscure product intended to mitigate risk spreads through what author Rick Bookstaber called “tightly coupled” interconnections to cause widespread damage.

Morgan Stanley is sticking with a forecast that sees the Federal Reserve resuming interest rates cuts in June and delivering another reduction in September, even as soaring oil prices prompt traders to curb bets for how much policymakers will lower borrowing costs this year.

US stock futures rose Tuesday as investors buy the dip, signaling confidence in the markets even as Iran war tensions escalate.

The Federal Reserve is about to give America’s biggest lenders an extra $200 billion of capital to play with. Later this week, US regulators will launch fresh proposals to update and, in some ways, loosen US capital rules that will fuel stock buybacks, lending and trading.

The scariest portmanteau in macroeconomics is making a comeback in market discourse: stagflation.

For years it was a punch line. Now the Laffer Curve — which purports to show that tax cuts can increase revenue — is making a kind of comeback.

Nvidia Corp. executives will likely need to deliver a surprise at the chipmaker’s annual AI conference that begins Monday to spark a rally in the moribund stock.

The mood in the stock market by the end of last week was the type of stuff that contrarian investors dream about.

Spending on data center projects in the US has exploded, surpassing offices for the first time at the end of last year. It’s a trend Matt Kunz saw early on when Meta Platforms Inc. built a computing hub outside Columbus, Ohio.

One of my most longstanding and controversial opinions is that the move from defined-benefit pensions to defined-contribution pensions was a success. It’s an especially unpopular view amid stories of retirees who fall through the cracks and a grim market that is pruning many retirement accounts, if not retirement dreams.

Back in 2008, executives at Goldman Sachs Group Inc. were zealots for valuing their assets at exactly the prices where they could be sold. Critics said this fervor for fair value inflamed the financial crisis, while supporters argued it helped investors and lenders at least know where they stood.

Volatility in US Treasuries jumped to a nine-month high as the Iran war fanned inflation concerns and upended traders’ expectations on the Federal Reserve’s policy path.

Americans will legally wager $3.3 billion on the NCAA men’s and women’s basketball tournaments this year, the American Gaming Association said.

European stocks rose Friday as oil prices slipped below $100 a barrel, following news reports of an Indian tanker’s passage from the Strait of Hormuz, a key shipping artery that’s been effectively shut amid the Iran war.

A key measure of US inflation was tame at the start of the year. But another metric is shaping up to paint a very different picture.

Apollo Global Management Inc. is ramping up efforts to give investors more regular insight into the value of its opaque private credit holdings, just as a spate of redemption requests from such funds rattles the wider market.

His time horizon is infinite. His capital is permanent. And the rewards, he argues, should be enormous.

For more than a decade, emerging markets have been a heartbreak for those who place their faith in developing countries. Since 2010, the benchmark MSCI Emerging Markets Index has not outperformed its US counterpart for two consecutive years.

Selling pressure for leveraged buyout loans has been high all year, amid fears that artificial intelligence will damage or even bankrupt the software companies that account for a fair chunk of the market.

Amazon.com Inc. has blown the primary market for new debt wide open just days after market volatility, sparked by soaring-then-plummeting oil prices, all but halted issuance. Its mega offering is priced cheaply, for a reason: Too much of a good thing is still too much.

Hedge fund positioning across US equities has created a setup for stocks to rip higher after their recent wobble, according to Goldman Sachs Group Inc.’s trading desk.

After months of heavy selling on fears of artificial-intelligence disruption, software stocks appear to have found a bottom — at least for now.

The US and Israel’s war on Iran is forcing world governments to intervene to shore up energy supplies, with ongoing missile fire from both sides disrupting flows through a key waterway.

President Donald Trump said the US will get its first new oil refinery in 50 years with the help of investment from India’s Reliance Industries Ltd.

For months, Wall Street’s panoply of risk-hedging strategies did little but lose money. Now, as uncertainty sparked by the war with Iran hits the market’s most popular trades, investors that loaded up on portfolio protection are being rewarded.

President Donald Trump said the US and Israel are making significant progress in the war on Iran and could end the conflict “very soon,” cooling a surge in oil prices.

Those are a lot of disappointments in a relatively short time. That also left some investors wondering if Treasuries are still the bear-market hedge they are touted to be — which prompted me to ask if they ever were. After digging into the data, I discovered a surprising answer: no.

The European Central Bank can be forgiven for feeling nauseous as a massive global deleveraging of risk since the Iran war started has hit the euro area’s currency and interest-rate markets particularly hard.

Big Tech’s consolidation of power seemed a foregone conclusion even as Sam Altman’s OpenAI sparked an artificial intelligence boom with ChatGPT.

Stocks and currencies have seen steep losses, with the MSCI equity index posting its biggest weekly drop in six years, and bond yields have jumped.

Gold fell, pressured by a stronger US dollar and concern about the prospect of higher interest rates, as the war in the Middle East extended into a second week and oil rallied.

US stocks dropped on Monday, continuing on from the biggest weekly drop since October, as the prospect of a prolonged war in Iran sent energy prices soaring and stoked fears over inflation.

Netflix Inc.’s stock price is staging a dramatic reversal triggered by management’s decision to walk away from its proposed acquisition of Warner Bros. Discovery Inc. late last month.

Iran’s strategy in its war with the US and Israel is by now clear: Impose an intolerable economic cost on President Donald Trump, forcing him to abandon his “war of choice” as American gasoline prices surge. Is there any way the Islamic Republic’s blueprint for survival can fail?

Traditional safe havens — Treasuries, the yen, the Swiss franc, and gold — have offered investors no refuge as the Middle East conflict roiled markets this week.

With “energy dominance” comes great turbulence. President Donald Trump’s open-ended war against Iran reflects a US seemingly unconstrained by energy needs and ready to wield its own fossil fuels as instruments of power.

Nearly 50 million Americans go to court each year without a lawyer. Low-income Americans are especially vulnerable, with most saying they “do not get any or enough legal help” for their major civil legal problems.

Bond investors, who have been focused on inflation since the Iran war began, say a surprise in the monthly US jobs report has the potential to upend their expectations for Federal Reserve interest-rate cuts.

Looking at the energy market with a wide-angle lens, I don’t see anything remotely approaching the pain of 2021-22, when the energy crisis label was appropriate for Europe. There’s nothing matching the contours of the 1990-91 shock, let alone the 1973-74 and 1979 crises.

US stocks have flipped the script for international investors since war erupted in the Mideast, handily outpacing the rest of the world after trailing their global peers badly last month.

Credit investors are unwinding long positions worth tens of billions of dollars and jumping into hedging trades.

A great financial economist once tried to convince me that retail investors should not be allowed to buy individual stocks. I strenuously disagreed: Wasn’t this America, the country that encourages risk-taking? Why shut regular investors out of the chance to get rich?

A world where we can cook up AI videos in seconds from the apps on our phones might seem remote from the physical realities of warfare in the seaways of the Persian Gulf. In fact, they’re closely intertwined.

Treasuries fell for a fourth day — lifting yields to the highest levels in several weeks — as rising oil prices ignited inflation expectations and dented the outlook for Federal Reserve interest-rate cuts.

The Trump administration has struck a deal that would see Venezuela’s state mining company sell as much as 1,000 kilograms of gold to commodities trader Trafigura, according to people familiar with the matter.

The war in Iran is forcing investors to reevaluate one of their most profitable stock strategies, leading some to conclude that the “Sell America, Buy Asia” trade has reached an inflection point.

The US Securities and Exchange Commission asked leveraged-ETF issuers not to move forward with a new wave of planned funds, using a rare group call Monday to renew its push against increasingly aggressive fund structures.

Intercontinental Exchange Inc. is acquiring a stake in OKX in a deal that values the cryptocurrency exchange operator at $25 billion.

It turns out, the biggest financial victim of President Donald Trump’s decision to strike Iran is not the S&P 500, but equity markets across North Asia.

Stocks attempted a rebound Wednesday morning as traders seized on a report that Iranian officials had indirectly reached out to the US about potentially ending the conflict in the Middle East. New data pointing to steadiness in the US labor market also helped fuel gains.

The last time an armed conflict upended the global energy economy, crude spiked past $100 and shares in oil and gas producers rallied for months. A similar trajectory might be unfolding as war rages in the Middle East.

Decades of “regulatory creep” and onerous disclosure requirements have discouraged companies from going public, say leaders of the Securities and Exchange Commission. To revitalize American markets, they plan to pare back those demands, especially for smaller firms. “We need a reset,” Chairman Paul Atkins recently declared.

Most investors, from grandma to the mightiest sovereign wealth funds, own bonds to help steady their portfolio and provide a ready reserve for spending. So, it’s notable when prominent voices start questioning their safety.

The public loves to hate short sellers, the investors who profit from declining securities’ values. Their bad reputation is mostly undeserved. In reality, many provide a valuable service, taking the other side of frauds and bubbles, and generally helping drive prices toward a semblance of fair value.

President Donald Trump said the US will provide insurance guarantees and naval escorts to ensure safe passage for oil tankers and other vessels through the Strait of Hormuz, aiming to head off a potential energy crisis caused by the war with Iran.

Oil surged for a second day as the US and Israel stepped up their war against Iran, with the sprawling conflict’s impact on energy assets in the Persian Gulf continuing to grow.

Gold sank after a four-day rally, as traders weighed the escalating war in the Middle East against the prospect of a stronger dollar and elevated inflation.

US Treasuries slumped for a second day as surging oil prices prompted traders to slash bets on more than one Federal Reserve interest-rate cut this year.

Greg Abel has passed his first test since taking over from Warren Buffett as Berkshire Hathaway Inc.’s new chief executive officer. In his introductory shareholder letter, he emphasizes that Berkshire’s culture runs far deeper than a single man. Yet, almost in the same breath, he tells us not to worry — after all, Buffett is still lurking around the office.

Private credit firms are facing a major test, with mom-and-pop investors pulling their cash in fear of corporate defaults spiking and artificial intelligence destroying many of the software businesses that these funds have lent to.

Qatar shut down liquefied natural gas production at the world’s largest export facility after it was targeted in an Iranian drone attack, sending European gas prices surging more than 50% and rattling global energy markets.

When JPMorgan Chase & Co. took the lead last year in financing the $55 billion takeover of Electronic Arts Inc., a record-setting leveraged buyout, Wall Street saw it as a sign that a lucrative period of bankrolling super-sized private equity deals might come roaring back.

Amazon.com Inc. may be a leader in the artificial intelligence race, but investors are increasingly unwilling to pay up for the cost of maintaining that position.

Emerging-market currencies and stocks slumped as US and Israeli strikes on Iran are triggering a jump in energy prices and bring a rally in riskier assets to a screeching halt.

BlackRock Inc.’s Global Infrastructure Partners LP and EQT AB agreed to buy AES Corp. for about $10.7 billion in cash as the market heats up for power plant developers that can provide electricity for energy-hungry AI data centers.

The rise of prediction markets offers statisticians and social scientists the kind of help that astronomers get from a new space telescope or particle physicists from a bigger supercollider. We finally get to test theories and resolve questions that people, held back by poor data, have been wrangling over for decades.

US stocks opened lower as risk-off sentiment swept through markets and fintech Block Inc.’s massive layoffs fanned angst that artificial-intelligence is poised to upend broad sections of the economy.

The Trump administration on Wednesday closed a $26.5 billion loan package for Southern Co. power projects in Georgia and Alabama amid rising concern about electricity price affordability and electricity-thirsty data centers.

OpenAI has raised $110 billion in a deal that values the startup at $730 billion, representing the ChatGPT maker’s largest funding round to date and bolstering its costly push to secure more computing power and talent for AI development.

It took a price of $111 billion, backed by $46 billion from tech billionaire Larry Ellison, plus the promise to pay $7 billion in compensation if the deal failed.

Nvidia Corp. has one of the strongest growth stories in the market after posting blowout earnings on Wednesday. So why is it trading at a level that looks like a value stock?

US bonds are wrapping up their best monthly performance in a year against a backdrop of rising global risks, with resurgent demand serving as proof that investors still see Treasuries as the premier haven in turbulent times.

BlackRock Inc.’s Global Infrastructure Partners LP and EQT AB are in advanced talks to acquire power company AES Corp., according to people familiar with the matter.

Nvidia Corp.’s latest sales forecast drew a lukewarm response from investors, signaling that concerns over a potential bubble continue to weigh on the dominant maker of artificial intelligence processors.

The frontier AI companies are building exactly the kind of cost structure Christensen warned about at a scale he could never have imagined. No companies in the history of capitalism have ever paid their employees like this.

Global asset managers who collectively oversee more than $20 trillion of assets have grown more bullish across emerging-market equities, currencies, domestic bonds and credit, potentially offering fresh momentum to the sector’s record-busting rally.

The S&P 500 has been stuck in a range for the better part of four months, and investors are paying up to protect against the possibility that the next big move is down. To a growing number of strategists, that pessimism is cause to expect the opposite.

A bidding war for Janus Henderson Group Plc broke out Thursday as Victory Capital Holdings Inc. offered to buy the money manager for $57.04 a share, in a move that topped a previous offer from Nelson Peltz’s Trian Fund Management.

Thanks to Nvidia Corp.’s practice of reporting earnings outside of the typical cycle for technology companies, the question of whether the almost $5 trillion company will record strong demand in 2026 had already been safely answered well before its latest announcement on Wednesday.

As investors digest the potential impact of artificial intelligence and debate whether this new technology will help or destroy existing businesses, a sharp divergence is occurring in global equities.

US mortgage rates slipped last week to the lowest level since 2022, generating more refinancing activity.

JPMorgan Chase & Co. and Bank of America strategists are urging clients to buy Venezuelan global bonds with large piles of unpaid interest, betting they could outperform ahead of a potential debt restructuring.

The threat to software-backed businesses from artificial intelligence should prompt investors to shift focus from technology to companies that toil in the physical world, like miners, power producers and industrial firms, according to Ulrike Hoffmann-Burchardi, global head of equities and chief investment officer for the Americas at UBS Wealth Management.

Nvidia Corp.’s earnings report on Wednesday afternoon comes at a critical time for the US stock market with investors increasingly nervous about the outlook for artificial intelligence.

Stripped to its essentials, finance is a race against time. What lies ahead of us is unknown, and the vast industry of banking and finance has developed to manage the risks that come with making commitments now that depend on an uncertain future.