President Trump on Tuesday pledged the government would continue its guarantees for mortgage giants Fannie Mae and Freddie Mac, even as it moves toward possibly giving up control of the companies.
Why it matters: Trump's promise may soothe long-standing nerves about what might happen to mortgage rates in a world where Fannie and Freddie no longer had government backstops.
SpaceX is expected to attempt a critical test flight for its Starship rocket shortly after this newsletter reaches your inbox.
"The stakes are particularly high for this Starship flight, as the last two test launches of the rocket didn't end well for SpaceX," Bloomberg reports.
"Both flights in January and March were cut short just minutes after takeoff when the Starship spacecraft exploded over the Gulf of Mexico, sending streams of debris raining down from the sky."
The intrigue: It's the ninth test flight for Starship but the first major SpaceX launch since Elon Musk pledged to refocus his efforts on his companies after devoting much of his time to the federal budget-slashing Department of Government Efficiency earlier this year.
Investors will be seeking signs Wednesday of how President Trump's trade war is affecting Nvidia when the AI chip giant reports earnings in the afternoon.
Why it matters: With U.S. export restrictions for AI chips tightening, Nvidia finds itself in a revenue pickle — trying to maintain as much business as possible in China while appeasing the American government.
Trump Media & Technology Group, the publicly traded parent company of President Trump's social media platform, said Tuesday it is raising $2.5 billion to buy bitcoin.
Why it matters: It's the latest of several crypto strategies by businesses linked to President Trump — moves that have drawn congressional criticism and slowed progress on digital-asset legislation.
Remember last week when investors worldwide shunned long-term government debt? Never mind. Long bonds have bounced back in a big way this week.
The big picture: That means some interest rate relief. But the extraordinary volatility of bond market action lately — including a rebound on mere glimmers of news — makes plain that all is not well in some of the most important markets on Earth.
The U.S. Steel saga is entering its ludicrous era, more than 17 months after the Pittsburgh-based company agreed to be acquired by Japan's Nippon Steel for around $15 billion.
Why it matters: None of this is working the way it's supposed to, and the chaos has opened the door for potential impropriety.
Tencent of China is acquiring a 9.7% stake in listed South Korean music firm SM Entertainment Co. from K-pop agency Hybe for around $177 million, according to a securities disclosure.
Why it matters: This is the latest indication that mainland China plans to lift its unofficial ban on K-pop and other forms of Korean entertainment
Why it matters: The data shows how closely consumers tie their economic confidence to Trump's trade war, with concerns about personal finances, inflation and employment prospects receding when tariff tensions appear to be cooling.
A Japanese company is using AI to bridge trade, language and culture gaps — one solution for a world where historic bonds are loosening, but consumer demand is as strong as ever.
Why it matters: If it works, it's a potential model for small businesses and creators around the world to access the U.S. market at a time of growing obstacles to international commerce.
The current version of President Trump's tax bill could profoundly transform the world of university endowments, and incentivizes some deep structural changes.
Why it matters: Those changes would not necessarily achieve the bill's stated aim of holding "woke, elite universities" accountable for purportedly abusing their nonprofit status — but they could significantly reduce the degree to which the provisions raise extra tax revenue.
