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US equities eased as a sharp climb in Treasury yields pressured richly valued stocks and offset gains in software names supported by solid earnings. The pullback came after a volatile September in which the S&P 500 and Dow posted monthly losses, even as the Nasdaq drew support from renewed enthusiasm around artificial intelligence.
US President Donald Trump has rejected an Iranian proposal to restore commercial shipping through the Strait of Hormuz within seven days, dismissing Tehran's offer as unacceptable despite mounting economic pressure from the waterway's effective closure. The decision deepens uncertainty over a conflict that has already disrupted one of the world's most critical energy chokepoints, rattled oil and gas markets, and increased the likelihood of renewed military escalation.
Oracle's decision to issue a force majeure notice tied to Project Jupiter, a massive data centre campus in New Mexico, has unsettled lenders and investors already growing wary of the capital intensity behind the AI boom. The episode is now feeding broader doubts about how quickly the market can finance the next wave of AI infrastructure, even as demand for compute remains robust.
Saudi Arabia said its air defenses intercepted Houthi missiles and drones aimed at the kingdom, underscoring the continuing reach of Yemen's war beyond its borders. The reported attacks came amid a wider regional escalation, with Reuters and other outlets linking the episode to heightened tensions involving Iran, Yemen and the Saudi-led coalition.
The Federal Reserve Board has approved Peoples Bancorp Inc.'s application to merge with Citizens National Corporation and indirectly acquire Citizens Bank of Kentucky, Inc., marking a significant regional banking expansion for the Marietta, Ohio-based lender. The decision also authorizes Peoples Bank to merge with Citizens Bank of Kentucky and operate branches at the Kentucky bank's existing locations, extending Peoples' presence deeper into eastern Kentucky.
President Donald Trump has rejected Iran's conditional proposal to reopen the Strait of Hormuz and restart nuclear talks, according to The Wall Street Journal, even as U.S. and Iranian officials continue indirect negotiations through mediators. The development comes amid renewed Houthi attacks in Yemen and sharp moves in oil prices, underscoring how quickly the conflict is reverberating through global energy markets.
Berkshire Hathaway has nearly doubled its stake in Lennar, signaling a larger wager on a long-term recovery in the U.S. housing market even as the homebuilder faces weakening demand, softer revenue and higher mortgage rates. The move lifted Berkshire's holding to about 10.9% of Lennar's shares, triggering rapid SEC disclosure requirements after the stake crossed the 10% insider threshold.
Micron enters its fiscal fourth-quarter earnings with strong momentum, as tight supply in DRAM and high-bandwidth memory continues to support pricing and profits. But investors are likely to focus less on the expected beat and more on how long the shortage can last, whether demand can hold as supply improves, and when capital returns may accelerate.
Owen Akhibi Herrera founded Peak and Pace in New York City as a way to build community after moving from London, but the social run club has since evolved into a lucrative events business. In 2025, the company generated more than $640,000 in revenue, driven largely by ticketed parties and outdoor gatherings that tap into Gen Z's appetite for social fitness and belonging.
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