CoreWeave secures $650M credit facility and announces $12.7B total raised (equity plus debt) in past 18 months.

The Republican-led Senate backed a resolution directing an end to hostilities with Iran, handing the White House an abrupt political setback and raising pressure over how any endgame is handled. Congress and the White House are colliding over Iran, with Senate votes that limit the administration's war powers, reflecting political friction over execution and endgame terms. A new political fight over U.S. immigration enforcement is moving through the courts, with judges blocking expanded detention tactics that tighten constraints on the administration's approach and may ripple into broader deportation strategy. Regulators and courts are targeting policy and compliance areas tied to citizenship and expedited enforcement systems, shaping how quickly the administration can pursue immigration checks and detentions. The Senate advanced a major housing affordability package that includes a CBDC ban through Dec. 31, 2030, while DHS proposed a major hike to citizenship application fees.

Stocks traded lower as tech and chip weakness rippled through global indexes, with volatility rising on renewed doubts about AI spending and valuations. The S&P 500 and Nasdaq both slid, while the Dow held up better amid a more defensive rotation, with investors focusing on earnings and guidance from semiconductor names and Treasury yields reacting to safe-haven demand. Trading screens flashed volatility across global tech and chip names, dragging indices and forcing investors to reprice AI-related growth assumptions, with the selloff spilling into regional Asian markets. The chip complex is taking center stage as investors react to earnings, guidance, and regulatory scrutiny around AI memory and semiconductor risk, with Micron suffering its worst drop in more than a year, signaling that investors are recalibrating expectations for the AI spending cycle and near-term supply-demand balance. Artificial intelligence layoffs and AI spending skepticism are colliding as companies cut headcount and investors question ROI on the buildout.

Quantum is back at the center of U.S. industrial policy as the White House pushes a faster push into the next wave of computing—framing it as a race against China and a cyber imperative, with the White House directing that "If we want to stay ahead, we have to move faster on quantum." Space and defense are converging as nuclear expansion funding and quantum security initiatives align with data-center power demand, with the U.S. leaning into long-duration infrastructure builds that can reshape future supply chains. Energy prices are sliding as diplomatic developments and expectations for smoother shipping flows reshape crude supply risk. Hormuz logistics are again becoming a core geopolitical variable as the UN and regional actors move toward evacuation and corridor plans amid mines and strained traffic, reinforcing that the strait is 'open' in theory but complicated in practice. Europe is pressing forward with digital euro plans as it seeks greater autonomy in payments, reflecting ongoing competition between U.S.-led payment networks and EU-driven rails.

New York's Democratic primaries have turned into a referendum on the party's direction, with Mamdani-backed candidates toppling establishment figures and reshaping the congressional map, underscoring growing leverage for the mayor's political coalition. A broader wave of Democratic primary outcomes in New York signals momentum for Mamdani's allies across multiple districts, with results pointing to ideological churn inside the party ahead of November. U.S. lawmakers are pushing major housing legislation meant to increase affordability through supply-side action, with the bill's CBDC-related language drawing attention and tying housing policy to financial technology constraints. SpaceX's public debut and subsequent bond plans are driving a high-stakes market narrative that merges corporate finance, leveraged trading speculation, and investor patience tests, with the company seeking $25B in a debut debt offer at an 11% bond sale target premium risk.

Meta is stepping into multiple high-growth frontiers at once—AI wearables and prediction markets—while regulators and security officials press for AI transparency, with the push highlighting Big Tech's race to monetize new platforms. The CFTC is stepping up enforcement against prediction markets, with Kentucky becoming a new target, underscoring intensifying regulatory scrutiny as political and commercial interest in market-betting platforms grows. Australia is recalibrating economic and health-risk posture as inflation data and bird-flu surveillance updates land in the spotlight, with core inflation accelerating and the RBA staying on alert. Central banks across Asia and the broader region are signaling caution as inflation and currency dynamics remain unsettled, with minutes and summaries suggesting rates could stay restrictive while policymakers watch inflation risks.