The latest global fallout from the Iran war: skyrocketing borrowing costs in the U.K.
Why it matters: Yields on its benchmark government bond hit the highest level since 2008 — an uncomfortable surge for the nation that has seen a historic backlash from bond investors over its fiscal backdrop in recent years.
Prediction market Kalshi plans to block athletes, coaches and officials from betting on their sports and to block political candidates from trading on their campaigns, Axios has learned.
Things were on track for a rough start to the week amid the escalation of the Iran conflict that threatens global energy supplies. Then, soon after 7am ET Monday, President Trump dropped an all-caps social media post that suggested that all will be fine, sending markets ripping.
The big picture: That's good news for Monday's prices of risk assets, but it speaks to a more tumultuous backdrop for global commerce that decision-makers across the global economy are only starting to recognize.
In effect, an entity that has for generations been a source of stability in the world economy — the U.S. government — is now a source of chaos.
A federal judge in Silicon Valley on Monday will hear arguments on if the U.S. Justice Department improperly approved an antitrust settlement that allowed Hewlett Packard Enterprise (NYSE: HPE) to acquire Juniper Networks last summer for $14 billion.
Why it matters: This case is at the heart of allegations that corporate lobbyists have gone around DOJ antitrust staff to get desired outcomes on pending mergers.
TORRANCE, Calif. —A cruise-missile airframe is being 3D-printed before my eyes. The AI-driven system, the size of a shipping container, hums as it stacks layer on layer of aluminum and proprietary advanced metals.
Why it matters: This white-floored factory at Divergent Technologies, just outside L.A., is a window into the American arsenal of the future.
Each of Divergent's printers, engineered and manufactured in the U.S., can produce hundreds of these missile airframes each year. They're part of a new generation of "low-cost" missiles that are roughly one-tenth the cost of a legacy system.
The finished missiles, including parts from other contractors, run $200,000 to $500,000. Legacy standard missiles range from $2 million to $6 million each.
The stock market is increasingly dominated by a few huge and extremely profitable "superstar" companies.
Why it matters: The historic rise in stock market concentration reflects Big Tech's dominance and mirrors a worrying rise in wealth inequality among regular people — but it's not clear if it's a real problem for investors.
Oil prices remained well north of $100 per barrel after markets opened Sunday, with the Iran war moving into its fourth week.
Why it matters: The price suggests that traders don't see a near-term end to the conflict, or risks to oil transit in the Strait of Hormuz that's throttling supplies on an unprecedented scale.
President Trump said Sunday he will send ICE agents to U.S. airports starting Monday to assist TSA officers who have been working without pay for more than five weeks during a partial Homeland Security shutdown.
Why it matters: The move thrusts the very agency that sparked the shutdown with its conduct in Minnesota into the nation's airports to deal with the consequences.
Elon Musktook the stage in Austin on Saturday night for what he called a "profoundly important announcement … the most epic chip-building exercise in history, by far." His goal: producing 1 trillion watts (1 terawatt) of compute power per year, most of it deployed in space.
Why it matters: Musk said his Terafab chip-building project — a joint effort of his Tesla, xAI and SpaceX companies — is "the next step towards becoming a galactic civilization" and turning "science fiction to science fact."
