September is just hours old, and it's already living up to its feared reputation. But it's the bond market, not the weight of history, that's spooking stocks.
The 10-year Treasury yield rose as high as 4.792% early Tuesday after hitting its highest level of President Donald Trump's term in the previous session. The move is starting to unsettle the stock market, and tech names in particular.
If that's not enough, then Nvidia's latest circular financing deal will definitely leave you feeling dizzy, if not absolutely terrified. Dell earnings after the bell, and sky-high expectations, could give investors another fright.
It's all change to start the month. Everything that surged in August, including Bitcoin, gold, and stocks, is falling to start September.
But the biggest change of all may be happening at Apple HQ this morning as John Ternus takes on the daunting task of replacing Tim Cook. Now that's a scary prospect.
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📈 Here's what's happening in markets today:
Stock futures dive as risks pile up to kick off September.
Sandisk, Marvell, Robinhood, and more stocks that explain today's market.
Bond yields are surging. 2 looming events to make things worse.
Nvidia's latest 'circular' deal might be its most confusing yet.
BYD's domestic sales plunge. China's car market continues to struggle.
Medtronic stock rises on better-than-expected earnings and $700 million investment in a robot surgeon,
Why Robinhood is jumping when Bitcoin and other crypto stocks are falling.
Can Dell's AI server business live up to Wall Street's sky-high expectations?
📦 Amazon faces FTC, state lawsuit over advertising practices
Amazon is facing another lawsuit, this one from the Federal Trade Commission and 22 states, including California, New York, Alaska, and Florida. They allege the e-commerce giant secretly inflated prices in its online search advertising auctions, something Amazon contests. The company already settled claims about its Prime subscriptions, and faces an antitrust trial next year.
🧠 This quantum start-up is moving into data centers
Quantum computing has found its second act, taking up residence in data centers as it moves from hype to the real world. After receiving funding from the U.S. Commerce Department, Australia's Diraq is putting one of its silicon spin computers inside a Sydney facility owned by Equinix. It will become a proof of concept for commercial customers.
🎬 Trump urges bipartisan task force to save Hollywood
President Donald Trump called on Republicans and Democrats to cooperate on legislation to save the movie and entertainment industry, including a federal production incentive to create jobs in the U.S. His request comes as Wall Street puts 85% odds on Paramount Skydance successfully completing its Warner Bros. Discovery deal amid antitrust concerns.
📈 Here are the S&P 500's best and worst stocks for August
Moderna was the S&P 500's best performing stock in August, getting a big boost when its personalized cancer vaccine got positive results in a trial with Merck. Palantir Technologies stock was second-best, and Salesforce was third. On the flip side, Denver-based healthcare company DaVita was the index's laggard despite a positive outlook.
🛢? Who wins and loses from Trump's Venezuelan oil deal
Billions of dollars of private investment will be needed to boost Venezuela's oil production, and it isn't clear who is willing to foot the bill. Whether the plan is legal, enforceable and financially sound are big questions. Potential winners could be Valero, which refines Venezuelan oil, and SLB and Halliburton, which have operations there. Heavy crude producers Suncor and Canadian Natural Resources could end up losing.
📣 OpenAI's ad business reaches $1 billion mark ahead of IPO
OpenAI is known as an AI lab, but its ad business has reached a $1 billion annualized revenue run rate, which could be a boon as it prepares its initial public offering. It only launched ads in its ChatGPT chatbot less than 200 days ago. The ad business could help close the gap with its rival Anthropic, which posted $11.6 billion in revenue in the June quarter.
📰 Don't miss out on our other newsletters
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Global Signals : How Global Bond Managers Are Playing Higher Yields
💰 GameStop expects a second-quarter boost from eBay stake
Spurned eBay suitor GameStop is getting a boost from the stake, anyway. It preannounced second-quarter results that reflect a $238 million net gain related to its eBay stake, which will boost second-quarter net income, partly offset by losses on digital assets. As of Aug. 1, it held about $4.9 billion shares of the online auction site, 9.8% of eBay's outstanding shares.
💬 Quote of the day:
Other headlines moving markets:
Trump announces drug pricing deals with Teva, 8 other companies.
How the Venezuela oil deal could play out.
Vanguard's 50 years of indexing: Why Wall Street's biggest 'folly' won the long game.
Steak 'n Shake's MAGA makeover is winning fans but its stock is complicated.
GE Vernova drops. Is SpaceX coming for them, too?
SpaceX's weekend: One big launch and one crew-13 hiccup.
Next up for Tesla's self-driving tech: potholes.
The best high-yield ETFs for rising interest rates.
How to play the Micron vs. CXMT memory-chip war.
Oregon recycling ruling gives supporters hope in California, Colorado.
SLB wants in on the AI data center boom. This $4 billion deal could help.
Lilly is bigger than ever. Why its latest immunology deal makes sense.
Nvidia looks like a growth stock again. Why the chip maker is a bargain.
PG&E stock plummets as California withholds wildfire liability protections.
Apple's $4 trillion handoff: Cook steps down, Ternus steps up.
AI software stocks are at a turning point. These 2 are showing the way.
Why you should give long bonds the benefit of the doubt.
-Edited by Liz Moyer, Stacy Ozol, and Rupert Steiner
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