Axios

A New York jury on Wednesday found that event promoter Live Nation and its Ticketmaster subsidiary violated U.S. and state antitrust laws.

Why it matters: It's a major embarrassment for the Trump administration, which recently settled its case with minimal concessions.

Both the S&P 500 and the Nasdaq Composite hit new all-time closing highs on Wednesday.

Why it matters: Stocks are soaring on hopes that the Iran war will fade and on signs that Americans are continuing to spend — despite rising prices at the pump and souring sentiment.

American consumers are holding it together despite surging energy prices, concerns about the job market and stock market volatility, according to Bank of America executives.

Why it matters: As one of the largest banks in the country, BofA has a direct line of sight into the financial health of consumers.

Bayer CEO Bill Anderson says the German crop science and drug company is hoping to move past the long-running controversy over its Roundup weedkiller in 2026.

Why it matters: Bayer — which acquired Roundup when it bought Monsanto in 2018 — recently announced a $7.25 billion settlement deal and is awaiting a Supreme Court ruling that could decide the product's fate in the U.S.

U.S. venture capital investment easily hit an all-time record in Q1 2026, according to data released today by PitchBook and the National Venture Capital Association. In fact, domestic startups raised more last quarter than in any entire year, save for 2021 and 2025.

Yes, but: U.S. venture capital investment decreased quarter-over-quarter, if you remove just five Q1 2026 transactions.

The message from top Republicans on Tuesday morning was that things were on track for an orderly transition atop the Federal Reserve when chair Jerome Powell's term ends next month. Events over the next 24 hours made those prospects messier.

The big picture: As much as Senate Republicans seek an off-ramp that would smooth the path for Kevin Warsh's confirmation as Fed chair, the legal stalemate holding things up has escalated.

Driving the news: On Tuesday, three Justice Department officials showed up unannounced at the Fed's construction site, looking to investigate the $2.5 billion renovation project, the New York Times reported.

• They were turned away, and a lawyer for the Fed subsequently said that it was inappropriate and that the DOJ must go through Fed lawyers in its investigation.
• In an interview aired on Fox Business Wednesday morning, President Trump, when asked what he would do if Powell does not resign from his position as a governor when his term as chair is up, said, "Well, then I'll have to fire him."
• The legality of the president's efforts to fire another Fed governor, Lisa Cook, is currently pending before the Supreme Court.

Catch up quick: Sen. Thom Tillis (R-N.C.) is pledging to block Warsh's nomination from advancing until the Justice Department investigation — which he and Fed leaders view as a blatantly pretextual attack on the central bank's independence — is resolved.

• Powell, whose term as a governor extends until 2028, has said, "I have no intention of leaving the Board until the investigation is well and truly over, with transparency and finality."
• A federal judge quashed earlier DOJ subpoenas of the Fed, ruling that there is "abundant evidence" that its purpose "is to harass and pressure Powell" to either yield to Trump on monetary policy or resign.

Between the lines: There is seemingly a schism between Republicans who want to move on and get Warsh into place as promptly as possible, and Justice Department officials — particularly Jeanine Pirro, U.S. attorney for the District of Columbia — who want to deliver to Trump the vengeance he seeks.

• The latest events are the opposite of the kind of de-escalation that the senators who must vote to confirm Warsh seek.

What they're saying: Axios asked top White House economist Kevin Hassett on Wednesday morning about what comes next and whether there is a path for Warsh to be confirmed by next month.

• "I have high confidence that that will happen," Hassett said. He added that the way the Justice Department got involved "was that the president wanted to investigate the cost overrun."
• "So right now, the Fed's position is that they can spend as much money, perhaps wasting, as they want, and the White House is not allowed to inspect it."

As to whether Powell should resign as a governor when his term as chair ends next month, Hassett said, "Jay will have to decide for himself what he wants to do."

• "But the tradition is once a Fed chairman is confirmed, then the previous chairman resigns, and I think Fed chair Powell has said he would do that as long as he felt he wasn't in legal jeopardy," Hassett said.

That's not all when it comes to developments in the relationship between the Trump administration and the Fed: There has also been a softening of the administration's calls for immediate interest rate cuts.

Why it matters: With inflation surging thanks to the Iran war, Warsh — once confirmed — will face a tricky task in trying to deliver the rate cuts Trump has demanded.

• The latest comments from Treasury Secretary Scott Bessent, echoed Wednesday morning by Hassett, suggest that Warsh will not face immediate pressure from the White House to deliver cheaper money.

"I believe rates should be cut ... but if they want to wait for some clarity, I understand that," Bessent told a small group of reporters Tuesday.

• He added that "we should wait for the new chairman, Warsh, and let him lead the next cycle."

Hassett seconded those comments on Wednesday morning.

• "I understand that the energy shock will certainly have some repercussion for global inflation," Hassett told Axios, after noting Bessent's comments.
• "But on the other hand, core inflation is at the lowest level since the Biden inflation began, and interest rates in the U.S. are higher than for comparable countries around the world," he added.
• "If I were a [Fed] governor, I would still be willing to cut rates because I know that oil price shocks don't lead to inflation."

Lyft and Waymo might be ride-hailing rivals, but they're also partners in Nashville, where Lyft's Flexdrive subsidiary will manage Waymo's newly deployed robotaxi fleet.

Why it matters: It's the latest example of frenemies working together to deliver on a shared vision for an autonomous future.

Starbucks is rolling out a new AI-powered feature in ChatGPT that suggests drinks based on your mood, cravings or even a photo.

Why it matters: The coffee giant is among the first major restaurant chains embedding AI into discovery and ordering — a preview of the next-gen digital menu.

United Airlines CEO Scott Kirby floated the idea of a merger with American Airlines while meeting with President Trump last month, according to multiple reports.

Why it matters: Corporate America has concluded that federal antitrust approval now comes from the top.

Walmart is overhauling its biggest brand, Great Value, for the first time in more than a decade.

Why it matters: The retail giant's private-label brand is one the nation's largest for everyday grocery and household products — outsizing many major food companies, Walmart told Axios.

The S&P 500 just took a round-trip — the stock benchmark for investors has recovered, and then some, from a war-driven selloff.

Why it matters: It's a split-screen moment: investor enthusiasm happening alongside the biggest energy shock in history, a rise in inflation and warnings about slower economic growth.

Editor's note: Congrats to Axios head of news Ben Berkowitz, whose son just committed to a college over the weekend. Ben reflects on the process — relatable for any parent of high schoolers in 2026.

Raising a child means having lots of tough conversations. What no one ever tells you is that the most enraging exchange of all will be: "So, have you picked a college yet?"

• If, like me, you have a high school senior at home, May 1 — the commitment deadline — looms like a slow-motion train wreck.

The big picture: It seems simple: Here's the list. We know the locations, we know the costs, now pick one.