179 stories from 19 sources
The month in U.S. Business and Markets
Longest running story: 19 days
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AI financing broadened from Alphabet’s planned stock sales to OpenAI’s IPO process, Amazon’s infrastructure borrowing, and strong demand for Nvidia’s bond sale. The month also brought sharper tests of the trade as AI-related costs reached consumers and employers cut jobs while investing in automation.
SpaceX’s proposed offering expanded toward a potential record size, with banks competing for roles and individual investors potentially receiving a large allocation. Within the month, indicated opening prices rose about 25% above the offer price, turning commercial space into a direct test of public support for platform-like valuations.
Berkshire’s Taylor Morrison acquisition signaled continued capital behind homebuilding and build-to-rent housing, while mortgage investors hesitated over alternative credit scores. Existing-home demand improved, but commercial distress, construction costs, land, cash-flow pressure, and proposed Basel changes kept the recovery divided.
May hiring and an upward revision to April payroll growth kept unemployment at 4.3%. Markets responded by pricing in tighter Federal Reserve policy, higher Treasury yields, and fewer near-term rate cuts, creating a less supportive backdrop for risk assets.
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