Nvidia market value tops $5 trillion on record close
Nvidia closed at a record Friday, lifting its market value past $5 trillion as traders bought chip stocks ahead of next week’s cloud earnings.
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Fresh coverage on the economy, markets, and the forces moving money.
Hormuz relief keeps oil traders on edge
Iran said the Strait of Hormuz was open, then attacked an Indian tanker, keeping Brent crude and shipping routes under pressure.
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War jitters keep mortgage rates near monthly lows
The Mortgage Bankers Association said purchase applications rose 10% and refinance demand climbed 6% as rates eased for a third straight week.
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Consumer sentiment hits record low as war-driven price shocks spread
U.S. consumer sentiment fell to a record low in April as war fears lifted expectations for fuel, food and freight costs.
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Wall Street calm: Bank of England flags risks beneath stocks
Sarah Breeden warned that record-high equities do not reflect the risks underneath them and said a macro shock, private-credit wobble and AI de-rating could hit together.
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India uses welfare subsidies to boost e-rupee adoption
India is routing welfare subsidies through e-rupee pilots to cut leakage and give the digital currency a reason to exist.
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Purchase applications rise 10% with mortgage rates easing
Mortgage rates slipped to 6.35%, and purchase applications rose 10% last week as buyers responded to lower borrowing costs and more inventory, the MBA said.
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Gas shock sends US consumer sentiment to record low
U.S. consumer sentiment fell to a record low in April as gas prices kept feeding inflation fears. The University of Michigan reading slipped to 49.8.
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Nvidia tops $5 trillion on AI enthusiasm
The Bank of England warned stocks will eventually “adjust” as officials question whether AI valuations, private credit and other risky trades reflect macro stress.
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Economy Watch
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Market Pulse
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Iran war hits global economy as factory costs rise
Reuters counted 26 companies that withdrew or cut guidance as the Iran war pushed up fuel bills, tightened supply chains and slowed deliveries.
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