Good morning and welcome to another hopeful day for markets as Iran lifts Wall Street's spirits.
Stocks looked set to continue their positive start to the week as falling oil prices seemed to offset a faltering tech rally that drove the Nasdaq to its first record high since June in the previous session.
The markets file has the latest, and my colleague Adam Clark explains here that while much of Monday's artificial-intelligence-fueled boost came amid excitement around the launch of Meta's Muse agent, there's a laundry list of stocks that promise more of an enduring AI bump.
Oil prices jumped around first thing with international benchmark Brent crude zigzagging around the $100 level. The most likely reason is a report that Iran has offered to reopen the vital Strait of Hormuz shipping route within seven days, and as Patrick O'Donnell sets out, that's only if the U.S. takes initial steps toward easing military pressure.
The big stock movers so far are all AI related, which won't be a surprise. Coherent, Corning, Intel, and Western Digital were all falling.
The big event this morning is President Donald Trump's speech at the U.N. General Assembly in New York City. While market watchers are buoyed by Tehran's words, watch out for anything he says about tariffs and Middle East geopolitics.
Have a great day.
P.S. Feel free to get in touch with any thoughts and comments.
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📈 Here's what's happening in markets today:
Stocks are rising after the Nasdaq surged to its first record high since June.
Oil prices drop on report Iran has offered to open Hormuz in 7 days.
AMD, Intel, Salesforce, and more stocks that explain today's market.
Enjoy Meta's bump while it lasts-but chip stocks are a safer AI bet.
AutoZone beats earnings estimates but same-store sales miss.
Why Nvidia stock didn't get a Meta boost.
Tesla stock is up. Elon Musk's EV maker is investment grade.
SpaceX has a key advantage in the AI power battle.
Cathie Wood brushes off this market worry as the chip rally stalls.
💾 The AI agent behind the surge in chip stocks
The early success of Meta Platforms' Muse agent-one of the most downloaded free iPhone applications in the U.S.-is reigniting excitement for central processing units, the type of chips made by Intel and AMD. It could help explain Monday's dramatic surge that fueled the Nasdaq to a record.
🎥 Paramount settlement clears path for Warner Bros. deal
Paramount Skydance settled antitrust claims with several states, removing the last major obstacle for its $110 billion merger with Warner Bros. Discovery. It agreed to spend $300 million more annually on domestic production for the next five years relative to 2025 spending, plus community investments and an independent film fund.
🚜 U.S. working on a potash deal with Belarus amid trade war
The U.S. is negotiating to buy fertilizer ingredient potash from Belarus for substantially less than what it buys from Canada. President Donald Trump may be trying to cut U.S. reliance on Canada, which producer Nutrien says supplies 80% of potash used on American farms, amid a trade war.
📊 Oura's IPO could be early test of deal appetite this fall
Smart ring maker Oura is inching closer to an IPO, which could kick off a wave of deals this fall, including the highly anticipated Anthropic debut. Oura and existing investors plan to sell 50 million shares for $40 to $44 each, for a valuation of $15.6 billion.
💉 Novo Nordisk outlines plan to stoke growth
Novo Nordisk plans at least five new "multi-blockbusters" by the end of the decade to stoke growth and counter slowing sales. The Ozempic maker aims to have around a dozen candidates in late-stage trials by 2030, with weight-loss medications remaining central to that strategy.
🪙 Bitcoin price rises to highest level since January
Bitcoin's price rose Monday to its highest level in eight months, and Strategy, the largest corporate holder of Bitcoin, purchased about $76 million of the cryptocurrency last week. It was the company's first Bitcoin purchase in about three weeks, for an average purchase price of $79,670 each.
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💬 Quote of the day:
Other headlines moving markets:
Trump to address world leaders. What that means for oil prices.
Meta's latest AI bet is boosting the stock ahead of major conference.
UPS stock weighed by slowdown in Amazon shipments.
Rocket Lab looks more and more like a SpaceX competitor.
Why these Greenland stocks are reacting to Trump's security deal.
Grail stock moves ahead of multi-cancer blood test review by FDA.
Rate hikes have begun. Why investors shouldn't panic.
Micron's growth is set to slow. Why that's good news for the stock.
Why Lennar is getting hit worse than D.R. Horton in this crummy housing market.
Tesla's roadster is one reason October could be different for the stock.
Moderna's mRNA cancer vaccine is getting ready for next test.
SpaceX stock could get a boost from the Nasdaq 100 rebalancing.
Dell and AppLovin look vulnerable. How to play the charts.
Reddit scores a key win in Anthropic case.
Crypto is spending $30 million to smash a Democrat.
HP warns of extended PC market slump.
Paper bottles are coming to stores. Why they're more than a novelty.
Casual dining stocks are having a good year. How to play the trend.
- Edited by Liz Moyer, Stacy Ozol, and Patrick O'Donnell
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