Stock Market Daily

Blue Owl limits withdrawals from two funds due to surge in redemption requests. Tesla deliveries mark weakest quarter in a year; inventory swells. Bank of America's $72.5 million settlement with Epstein accusers wins preliminary approval. U.S. private credit faces potentially higher defaults due to software exposure. Ford first-quarter U.S. auto sales fall as affordability concerns weigh on demand. MARKET RECAP Stocks ended mixed; oil prices jumped. Treasuries traded higher. Dollar rose sharply, weighing on gold.

TOP NEWS SpaceX confidentially filed for a U.S. IPO, potentially the largest on record. Eli Lilly's weight-loss pill received US approval, setting up competition with Novo Nordisk. Intel will buy back Apollo's 49% stake in its Ireland factory for $14.2 billion. Pfizer and BioNTech halted a U.S. COVID vaccine study due to low recruitment. Tesla car registrations tripled in France and more than doubled in Nordic countries in March. MARKET RECAP AT 4 pm ET Stocks rose as oil prices fell. Treasuries slipped due to strong economic data suggesting elevated Fed rates. Gold extended gains on a softer dollar.

Unilever, McCormick strike deal to create $65 billion food giant: Unilever and McCormick will merge their food businesses, forming a company worth around $65 billion. Nvidia bets $2 billion on Marvell as rising AI adoption fuels competition: Nvidia invested $2 billion in Marvell Technology to facilitate the use of Marvell's custom AI chips with Nvidia's networking gear. Lilly seals up to $7.8 billion deal for Centessa in sleep disorder bet: Eli Lilly will acquire Centessa Pharmaceuticals for up to $7.8 billion, expanding into sleep disorder treatments. Meta to limit PG-13 rating use for teen accounts in Motion Picture Association deal: Meta agreed to reduce references to the PG-13 rating for its teen accounts, resolving a dispute with the Motion Picture Association. US appeals court upholds decision to dismiss Boeing criminal case: A U.S. appeals court affirmed the dismissal of a criminal case against Boeing related to fatal 737 MAX crashes. MARKET RECAP AT 4 pm ET ...

TOP NEWS US food giant Sysco acquires catering supplier Restaurant Depot for $29 billion to expand reach to independent restaurants. Nvidia's price-to-earnings ratio hits a seven-year low due to global market worries and AI angst. E*Trade in talks to lead SpaceX IPO share sale to small U.S. investors. Nasdaq to implement "fast entry" rules for new large-cap listings on its Nasdaq-100 index. Starbucks investors reelected the full board, rejecting labor-backed challenges. MARKET RECAP AT 4 pm ET S&P 500 and Nasdaq closed lower. Oil prices rose. Treasuries rallied across the curve. Dollar index edged up. Gold rose on safe-haven demand.

TOP NEWS US sends subpoenas in Warner-Paramount antitrust review. Oaktree fund fulfills 8.5% withdrawal requests, avoiding withdrawal caps. SpaceX's potential listing creates significant social media excitement and ticker speculation. Citigroup dismisses reports of a potential US regional bank acquisition, prioritizing organic growth. Unilever shareholders to receive a majority stake and tax benefits in a potential food deal with McCormick. MARKET RECAP Stocks tumbled due to ongoing Middle East war. Oil prices rose amid skepticism about a ceasefire. Gold prices surged on dip-buying. Treasury yields were mixed. Dollar edged higher on safe-haven demand.

TOP NEWS Meta shares dropped on fears US verdicts may lead to more lawsuits and an overhaul of design practices. Elon Musk is considering allocating up to 30% of SpaceX's IPO to retail investors. Equitable and Corebridge are set to merge, creating a $22 billion US insurance giant. Occidental's Vicki Hollub is preparing to retire as CEO. Pernod Ricard held talks for a merger with Jack Daniel's maker Brown Forman. MARKET RECAP Stocks fell sharply. Oil prices soared. Treasury yields rose. Gold dropped. Dollar strengthened.

TOP NEWS Meta, Google lose US case over social media harm to youth Trump names Nvidia, Meta CEOs to science and tech council Arm shares rally as new AI chip to drive billions in annual revenue US Supreme Court backs Cox in fight over pirated music Meta is laying off hundreds of employees MARKET RECAP AT 4 pm ET Wall Street closed higher as Treasury yields fell Iran reviewing U.S. proposal for de-escalation Gold prices rose, buoyed by a drop in oil prices Dollar extended gains as traders assessed central bank rates

TOP NEWS Ares capped investor withdrawals at a private credit fund after a surge in redemption requests. United Airlines is investing in premium travel and cabin upgrades, despite high fuel costs, while planning to trim some flights. Broadcom noted supply chain constraints and TSMC capacity limits due to soaring AI chip demand. Arm unveiled a new AI data center chip, expecting billions in annual revenue and a strategic shift. Dollar General named Jerry Fleeman Jr. as its new CEO, replacing Todd Vasos, to steady the business. MARKET RECAP AT 4 pm ET Wall Street closed lower; oil rallied as Middle East conflict concerns persisted. Treasury yields rose after a weak two-year note auction. The dollar strengthened, putting pressure on gold prices.

TOP NEWS OpenAI offering sweeter private equity deals than Anthropic for AI enterprise ventures. Victory Capital criticizes Peltz's Trian over Janus Henderson bid, citing "misinformation." Activist Elliott takes multibillion-dollar stake in Synopsys to boost sales and margins. Broadcasters urge EU to tighten rules for Big Tech (Google, Amazon, Apple, Samsung) on smart TVs due to market power. BlackRock's CEO Larry Fink warns AI boom could widen wealth divide without broader participation in gains. MARKET RECAP AT 4 pm ET Stocks rose. Oil prices plunged after Trump postponed strikes against Iran. Treasury yields retreated. Gold fell. Dollar weakened against major currencies.

Amazon plans smartphone comeback: Amazon is reportedly planning to re-enter the smartphone market, a decade after its Fire Phone failed. Super Micro shares plunge: Super Micro shares fell after its co-founder and two others were charged with smuggling AI chips to China. FedEx shares pare gains: FedEx's stock gains were cut due to a weak quarterly forecast and concerns over the Iran war, despite a raised annual outlook. Dealmaking to pick up: Goldman Sachs CEO expects mergers and acquisitions to accelerate in 2026, despite risks from the Iran war. Trian opposes Victory's bid: Trian Fund Management has concerns about Victory Capital's sweetened rival bid for Janus Henderson. MARKET RECAP AT 4 pm ET Wall Street: Slumped, led by Nvidia and Microsoft. Treasury yields: Climbed due to Middle East tensions. Oil: Prices remained high, fueling inflation concerns. Gold: Edged lower as the dollar strengthened.

TOP NEWS Wall Street bank capital to fall 4.8% under new, softened rules. US agency upgrades probe into 3.2 million Tesla vehicles over FSD crashes. Pentagon users reluctant to dump Anthropic's AI tools, despite orders. Apple fends off bid for new Apple Watch import ban at US trade tribunal. Lilly's next-gen drug shows significant blood sugar, weight reduction in diabetes trial. MARKET RECAP Stocks fell. Short-dated Treasury yields rose. The dollar weakened. Gold extended its fall. Oil prices eased.

TOP NEWS The Federal Reserve held interest rates steady, projecting higher inflation, steady unemployment, and only a single rate cut this year, considering risks from the U.S. and Israeli war with Iran. Josh D'Amaro officially became Disney's new CEO, taking charge during a period of significant change for the entertainment company. Macy's forecast a weak 2026, expecting a fall in annual revenue and profit due to macroeconomic and geopolitical risks affecting consumer spending, though tariff impacts may ease later this year. Meta repeatedly failed to stop illegal high-risk financial ads on its platforms in Britain, despite commitments, with the financial regulator noting 1,000 failures in a week. Microsoft is reportedly considering legal action against OpenAI and Amazon over a $50 billion cloud deal that might violate its exclusive cloud agreement with OpenAI. MARKET RECAP Wall Street fell, and Treasury yields climbed after the Fed's decision and single rat...

TOP NEWS US airlines see strong travel demand and higher revenue despite increased fuel costs from the Iran war. Victory Capital sweetens its $8.6 billion bid for Janus Henderson with more cash to disrupt a rival take-private deal. OpenAI will sell AI access to US defense and government agencies through Amazon's cloud unit. Boeing's commercial airplane division expects profit in 2027, later than expected, due to higher costs from acquiring Spirit AeroSystems. Amazon CEO sees AI potentially doubling prior AWS sales projections to $600 billion by 2036. MARKET RECAP AT 4 pm ET Stocks and Treasuries rose as the Fed meeting began, amid worries over oil prices and the Middle East conflict. The dollar fell ahead of central bank interest rate decisions. Gold prices held steady.

TOP NEWS Nvidia CEO forecasts at least $1 trillion AI chip revenue opportunity by 2027. Meta shares surged on reports of planned layoffs of 20% or more of its workforce. OpenAI in advanced talks with private equity firms for enterprise AI venture. Dollar Tree signals potential tariff relief but, like Dollar General, forecasts weak annual sales. Bank of America settled lawsuit by Jeffrey Epstein accusers. MARKET RECAP Wall Street rallied, driven by AI-related stocks; Meta Platforms climbed on layoff reports. Oil prices fell. Treasuries rose, while the dollar retreated due to Middle East uncertainty. Gold prices were lower.

COMING UP IN U.S. - WEEK AHEAD U.S. Federal Reserve's Federal Open Market Committee (FOMC) two-day meeting on interest rates begins Tuesday. Policy statement expected Wednesday, rates likely unchanged at 3.5%–3.75%. Wednesday: Producer prices (PPI) data for February likely up 0.3%, annual unchanged at 2.9%; factory orders for January likely rose 0.2%. Thursday: Initial jobless claims for week ended March 14; continued jobless claims for week ended March 7; Philadelphia Fed business index likely 11 for March. Thursday: New home sales for January likely fell to 0.72 million units. Tuesday: Pending home sales data for February due. Thursday: Wholesale data expected. U.S. TOP NEWS Nvidia to focus on competition-beating AI advances at megaconference. Adobe shares drop as CEO exit creates uncertainty over AI strategy. Starbucks warned by shareholder proxy firms about neglecting labor dispute risks. Ulta Beauty slumps as rising costs hit margins; new CEO focuses on TikTok p...

COMING UP IN U.S. Commerce Department's Bureau of Economic Analysis to release personal consumption expenditures (PCE) price index report: Index likely up 0.3% in January, annual PCE up 2.9%. Core PCE price index for January expected up 0.4%, annual core up 3.1%. Consumer spending expected up 0.3%, personal income likely grew 0.5%. Second estimate of GDP: Economy likely grew 1.4% in Q4. Labor market front: Job Openings and Labor Turnover Survey (JOLTS): Job openings rose 158,000 to 6.7 million in January. University of Michigan's preliminary Consumer Sentiment Index for March projected at 55. Census Bureau: Orders of durable goods for January likely rose 1.2%. Excluding transportation, orders likely up 0.5%. U.S. TOP NEWS JPMorgan's markdown to restrict lending to private credit firms. Pentagon CTO ruled out renewed Anthropic negotiations due to supply-chain risk. SoftBank-backed PayPay valued at $12.7 billion in Nasdaq debut, shares jumped. Lilly found i...

U.S. TOP NEWS JPMorgan marks down value of some private credit loan portfolios due to software industry turmoil. Tesla delivery slide may extend to a third year, pressured by CEO Musk's focus on robotaxis and humanoid robots. Oracle shares surged on an upbeat revenue forecast, easing AI spending concerns. Target cuts prices on 3,000 items (apparel, home, essentials) to attract shoppers amid inflation and declining sales. Campbell's cut annual forecasts due to weak demand, especially for snacks. MARKET RECAP AT 4 pm ET S&P 500 and Dow ended lower due to escalating U.S.-Israeli war on Iran hostilities. Treasury yields rose as increasing oil prices fueled inflation fears. Gold declined, weighed down by a stronger dollar.

COMING UP IN U.S. Consumer price index (CPI) likely rose 0.3% in February (annual CPI expected steady at 2.4%). Core CPI likely rose 0.2% in February (annual core CPI expected unchanged at 2.5%). February's federal budget likely reports a $75.85 billion deficit. Federal Reserve Vice Chair Michelle Bowman to speak on "Supervision and Regulation". Campbell's expected to post second-quarter results; investors to watch tariff volatility, pricing, snacking demand, and annual forecasts. U.S. TOP NEWS Elon Musk's SpaceX weighs Nasdaq listing for potential biggest IPO. Bill Ackman's Pershing Square filed for combined IPOs of its hedge fund and a new fund. AT&T outlines $250 billion US investment plan over five years to boost infrastructure and hire technicians. Kohl's points to promising start to 2026 for apparel, but warns of overall declining sales. Qualcomm and Wayve partner to accelerate AI-powered self-driving system rollout. MARKET RECAP ...

U.S. TOP NEWS Anthropic sued to block Pentagon blacklisting over AI use restrictions. Hims shares jumped on a deal to offer Novo's Wegovy and Ozempic on its platform. Live Nation settled DOJ claims it monopolized live event markets. Starboard pushed Lamb Weston to double cost cuts, review business after building a stake. Trump bought Netflix and Warner Bros bonds at the height of a bidding war. MARKET RECAP AT 4 pm ET Stocks rose, rebounding after President Trump suggested the war with Iran could be ending. Oil prices tumbled. Treasury yields were down. The dollar and gold were in the red.

COMING UP IN U.S. - WEEK AHEAD Economic Data: CPI (February): Expected +0.3% monthly, +2.4% annually. Core CPI +0.2% monthly. PCE Price Index (January): Expected +0.3% monthly, +2.8% annually. Core PCE +0.4% monthly, +3% annually. Consumer Spending: Expected +0.3%. Personal Income: Expected +0.4%. Durable Goods Orders (January): Expected +0.8% overall, +0.5% ex-transportation. Housing Data: Existing Home Sales (February): Expected to rise to 3.89 million units. Housing Starts (January): Expected to rise to 1.350 million units. Building Permits (January): Expected to increase to 1.405 million units. International Trade Deficit (January): Expected to narrow to $68 billion. Labor Data: Weekly Jobless Claims: Initial claims for week ending March 7 likely rose by 2,000 to 215,000. Continued claims for week ended February 28 expected. JOLTS report (January) due. Consumer Sentiment: University of Michigan’s preliminary March reading projected at 55. Oracle Earnings...