RTX's Raytheon Awarded $24.4B Missile Contract as Trump Finally Admits Stockpiles "A Little Bit Lower"

Nasdaq Tumbles After FT Reports OpenAI Revenues Disappointing ...and just like that, the massive AI CapEx boom narrative is in doubt... The Financial Times reports that OpenAI’s annualised revenue is about $20bn less than has been previously signalled, according to financial documents shared with investors, a massive gap likely to damp optimism about the growth of AI demand. The company has recently told investors its revenues were approaching $50bn on an annualized basis at the end of September, far short of the $70bn reported by the FT and other media outlets late last...

Pentagon Sends Marine Expeditionary Unit To Middle East, Oil Spikes On Ground War Fears Summary: Hezbollah chief Naim Qassem says the group is fighting an existential battle against Israel as displacement crisis in Lebanon deepens: AJ Over 3 million people forcibly displaced by US-Israeli war on Iran: UN Iran reportedly approves Indian government sending two liquefied petroleum tankers through Hormuz Japan-based USS Tripoli and its attached Marines headed toward Middle East WSJ says Pentagon sends Marine expeditionary unit to Middle East. Oil jumps higher Pentagon has just confirms two additional deaths in Thursday's downing of a...

US Producer Prices Cooler Than Expected In March Despite Surge In Energy Costs The month-over-month change in producer prices had accelerated for five straight months ahead of today's March data, which is expected to surge thanks to Iran-war impacts on energy costs. Against expectations of a 1.1% MoM rise, March's Headline PPI shocked everyone by rising only 0.5% MoM (equal to the revised lower 0.5% MoM rise in both of the last two months). This pushed PPI up 4.0% YoY (the highest since Feb 2023) but well below the +4.6% YoY...