Public Markets 3d Briefing
×Market Moves
The S&P 500 bloomberg.com slipped 0.8% as technology stocks faced renewed pressure, with the index posting its first two-week loss since June. The Nasdaq finance.yahoo.com fell 1.9% after Nvidia investing.com's results, though the chipmaker's CEO maintained that the narrative of a "Saa Spocalypse" is wrong. Treasury yields bloomberg.com dropped to a yearly low, with the 10-year note's yield hitting its weakest level since November. The KOSPI bloomberg.com continued its historic surge, becoming the world's hottest major market with almost no precedent for its pace. The yuan bloomberg.com strengthened to a 35-month high against a falling dollar, while tariff uncertainty clouds the outlook.
Deals & IPOs
Caesars Entertainment ft.com is weighing takeover interest after its shares slumped to a five-year low following its 2020 merger with a smaller rival. Barnes & Noble bloomberg.com owner Elliott Management has invited banks to pitch for a potential London IPO of its book retailers. Victory Capital ft.com sparked a bidding war for Janus Henderson with a superior cash-and-stock offer, challenging an agreed deal from Nelson Peltz's Trian Fund Management. Irenic Capital bloomberg.com made an unsolicited bid for music publisher Reservoir Media, which catalogs songs by Joni Mitchell and Sheryl Crow.
Corporate & Sector News
Electronic Arts bloomberg.com failed to win bondholder support by a key deadline for a plan to buy back debt at a steep discount and amend terms. C3.ai finance.yahoo.com slashed 26% of its workforce as its CEO admitted failure to deliver and "burning too much money," leading Citizens finance.yahoo.com to downgrade the stock. PayPal ft.com has become a tempting takeover target after its stock plunge, with Stripe having taken a preliminary look. Walmart wsj.com agreed to a $100 million FTC settlement over allegations it deceived drivers about earnings.
Finance & Policy
Vanguard ft.com reached a settlement with Texas in a key case over ESG investing, ending accusations of a conspiracy to reduce coal emissions. Calpers bloomberg.com remains unfazed by software stress in private credit driven by AI, with CEO Marcie Frost stating the largest U.S. public pension is not concerned. The Fed's bloomberg.com Michelle Bowman said regulators are nearing a revised Basel III capital plan. Fed governor wsj.com Stephen Miran stated four rate cuts this year are appropriate. Clariant bloomberg.com noted customers expect tariff payback after the Supreme Court curtailed Trump's global tariffs.
Energy & Commodities
BP bloomberg.com is aggressively expanding U.S. shale drilling, bucking rivals who are flatlining output. Saudi Arabia and Iran bloomberg.com are accelerating oil exports as Mideast tensions rise and the U.S. considers potential strikes. A bold supertanker bet bloomberg.com has given a shipowner control over the majority of vessels able to collect U.S. Gulf Coast oil next month. RBC bloomberg.com is seeking to bet on new Canadian defense and energy projects. U.S. power-plant pollution wsj.com rose sharply in 2025, a rare uptick driven by more coal burning.
Technology & AI
Wall Street ft.com is hawking complex hedging strategies to dodge AI-driven "implosions" after a "whack-a-mole" sell-off. Morgan Stanley investing.com believes hyperscaler AI spending will exceed the dot-com peak. Howard Marks bloomberg.com argues great investors are strong where AI is weakest, as the technology adeptly absorbs data and patterns. Two Fed officials finance.yahoo.com don't foresee major upheaval from AI. Core Weave bloomberg.com is seeking an $8.5 billion loan backed by a Meta deal, with Morgan Stanley among the banks. Lumen finance.yahoo.com's CFO discussed a new fiber network partnership with Anthropic.
Global & Currencies
India bloomberg.com is holding the line on Russian oil purchases as Trump's tariff deal remains in question. The Thai baht bloomberg.com's strength is seen as a factor in the country's surprise rate cut. Japan bloomberg.com's bonds can offer about 6% yield for dollar investors willing to bet on currency moves, according to BlackRock. The ECB bloomberg.com must watch inflation perceptions even after taming prices, says President Lagarde, who also found staff disillusioned with opportunities. Europe's biggest port bloomberg.com warned of geopolitical risks linked to China trade.