Chip Stocks Sell Off Sharply as Hot April CPI Reading Adds Inflation Pressure to Iran War Anxiety
US technology and semiconductor stocks suffered a significant reversal on Tuesday after April’s consumer price index came in hotter than expected, confirming that the Iran war’s energy shock is feeding through to broader consumer prices and eliminating what little remained of market expectations for a Federal Reserve rate cut in 2026. The Nasdaq Composite fell…
Republicans Win Redistricting Battles But Democrats Lead in Enthusiasm Ahead of November Midterms
Republicans secured a pair of significant redistricting victories in Virginia and Tennessee this week that analysts estimate could net the party between four and five additional House seats in November, providing meaningful but not decisive structural benefit to a majority already sitting at its thinnest margins in the current Congress. The Virginia Supreme Court blocked…
Senate Prepares to Vote on Kevin Warsh as Fed Chair Ahead of Powell’s May 15 Departure
The full United States Senate is expected to vote this week on the confirmation of Kevin Warsh as the next chair of the Federal Reserve, with the confirmation likely to land before Jerome Powell’s term as chair expires on May 15. The vote would make Warsh the 17th Fed chair in history and place him…
Florida Gas Prices Hit Four-Year High as Iran War Drives $1.46/Gallon Spike, Forcing Miami Drivers to Rethink Daily Costs
Florida motorists are paying more at the pump than at any point since July 2022 after a dramatic 40-cent single-week surge pushed the state average to $4.34 per gallon, a price spike directly tied to the ongoing US-Iran conflict and the sustained disruption of the Strait of Hormuz that has sent global oil markets into…
Rackspace Technology [NASDAQ: RXT] Jumps 12% After AMD Partnership for Enterprise AI Cloud Targeting Regulated Industries
Rackspace Technology surged more than 12% in trading after the cloud computing company announced a memorandum of understanding with chipmaker Advanced Micro Devices [NASDAQ: AMD] to co-develop an enterprise AI cloud platform specifically designed for regulated industries and sovereign workloads, a market that has seen growing demand from financial services, government, and healthcare organisations seeking…
Trump’s Record-Low 37% Approval and Saudi LIV Golf Deal Deepen Republican Midterm Anxiety With Six Months to Go
President Donald Trump is heading into the final six months before the 2026 midterm elections carrying his worst approval rating of either presidential term, facing an electorate that overwhelmingly blames him for surging fuel costs and growing questions about whether his decision to host a Saudi-backed golf tournament at his own Virginia club this weekend…
Amazon (NASDAQ: AMZN) Posts AWS Record as AI Spending Reaches $44 Billion in a Single Quarter
Amazon delivered a striking set of first-quarter 2026 results that underscored both the scale of its AI investment and its ability to generate growth across every major business segment simultaneously. Total revenue reached $181.5 billion, up 17% year-over-year and comfortably ahead of the $177.3 billion analyst consensus. Adjusted earnings per share of $2.78 demolished the…
Palantir (NASDAQ: PLTR) Posts Fastest Revenue Growth Since IPO as US Government AI Spending Accelerates
Palantir Technologies reported its strongest quarterly revenue growth since going public in 2020, with first-quarter 2026 revenue rising 85% year-over-year to $1.633 billion, well ahead of the $1.54 billion analyst consensus. Adjusted earnings per share of $0.33 beat the expected $0.28, and net income roughly quadrupled to $871 million, representing a 53% GAAP margin that…
S&P 500 Closes at Record High as Earnings Season and Falling Oil Prices Lift Market
US equity markets bounced back sharply from the geopolitical-driven selloff of Monday’s session, with the S&P 500 climbing 0.81% to close at a record 7,259.22 on Tuesday as falling oil prices and a series of solid earnings reports restored investor confidence. The Nasdaq Composite gained 1.03% to reach a new closing record of 25,326.13, while…
Senate Odds Even Out as Iran War Costs Republicans Their Midterm Safety Net
Control of the United States Senate is now statistically a coin-flip six months ahead of November’s midterm elections, according to prediction market data compiled by Kalshi, with traders placing the odds at roughly 50-50 between the parties after a dramatic shift in sentiment driven primarily by public opposition to the Iran war and its economic…
