Key headlines from global financial media overnight and this morning include:
1. White House States Over 2,000 Iranian Targets Hit, No Current Plans for Ground Troop Deployment 2. Ammunition Supplies Tighten as Lockheed Martin and Other Defense Firms Set for White House Meeting 3. NVIDIA CEO Jensen Huang Rules Out Possibility of $100 Billion Investment in OpenAI 4. Some Anthropic Investors Urge De-escalation of Tensions with Pentagon 5. Federal Reserve Beige Book Indicates Economic Growth in Most Districts, Slowing Spending Impacts Sales 6. Citadel Securities' Rubner Shifts from Bearish Stance, Predicts U.S. Stock Rebound in March
The White House has confirmed that U.S. military operations have struck over 2,000 targets in Iran, with no immediate plans to deploy ground forces. Press Secretary Caroline Levitt stated that the "Epic Fury" operation launched last weekend primarily aims to destroy Iran's ballistic missile capabilities and production systems, target its naval forces, weaken its proxy militias across the Middle East, and ensure Iran cannot obtain nuclear weapons. When questioned about potential ground troop deployment, Levitt clarified that such action is not currently part of the operational plan, although the President is not ruling out any military options.
With ammunition inventories under strain, leading defense contractors including Lockheed Martin and RTX are scheduled to attend a meeting at the White House. This comes as the Pentagon pushes for accelerated weapons production amid the escalating conflict with Iran. A White House official confirmed the Friday meeting with defense industry executives. The U.S. administration and the Pentagon have long pressured major defense contractors to increase output, criticizing their focus on shareholder returns through stock buybacks and dividends over research and development. As the conflict with Iran enters its fifth day with no signs of de-escalation, stockpiles of America's most expensive weaponry are being rapidly depleted.
NVIDIA Chief Executive Jensen Huang has stated that he does not expect the company to make a $100 billion investment in OpenAI—the maximum amount the chipmaker had previously considered committing to the startup. "I believe the opportunity to invest $100 billion in OpenAI likely no longer exists," Huang remarked, citing OpenAI's plans for a public listing potentially before year-end. "This may be our last chance to invest in a company of such significance." Last month, NVIDIA contributed $30 billion to OpenAI's $100 billion funding round, valuing the ChatGPT developer at $730 billion.
According to sources, some investors in Anthropic are urging the company to ease tensions with the Pentagon. CEO Dario Amodei has discussed the matter with key investors and partners, including Amazon CEO Andy Jassy. Firms such as Lightspeed and Iconiq have also been in contact with Anthropic's leadership. Certain investors are leveraging connections within the Trump administration to help de-escalate the situation, with discussions focusing on preventing a potential Pentagon ban on contractors using Anthropic's artificial intelligence technology.
The Federal Reserve's Beige Book indicates that economic activity increased at a slight to modest pace in most U.S. districts in recent weeks, though a growing number of regions reported flat or declining activity. The survey released on Wednesday noted that many areas observed "sales being dampened by economic uncertainty, increased price sensitivity, and reduced spending among lower-income consumers." The report also highlighted that employment levels remained generally stable as businesses explore efficiency gains through artificial intelligence.
Following the U.S. declaration of war on Iran, stock market investors have endured significant volatility. Scott Rubner of Citadel Securities now suggests that fundamental analysis indicates it is time to turn bullish on equities. Rubner, who studies market positioning and fund flows, points to extremely pessimistic market sentiment, favorable seasonal factors, and resilient retail investor inflows as foundations for a rebound after weeks of turbulence. Having accurately predicted a weak February for stocks, Rubner's latest outlook represents a complete reversal, coming as global markets grapple with soaring energy prices and the potential for a prolonged Middle East conflict.
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