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The Saudis closed the East-West pipeline after drones launched from Iraq damaged it. Riyadh has not disclosed how badly it is damaged or how long it will stay closed.
Nothing is now stopping Anthropic or OpenAI from ‘pacing the frontier' on their own.
The president closed out his weekend visit to Ireland by making the announcement at the Irish Open golf tournament.
The S&P 500 rallied despite a hot CPI and high odds of a Fed rate hike, suggesting resilient bullish sentiment. There was a capitulation action on Thursday, and Friday's move created a reversal pattern.
The Avelo Airlines CEO said that rising fuel costs have become the airline industry's latest challenge as oil prices surge on Middle East tensions.
The 10-year Treasury yield is sitting on the doorstep of 5%, and that's a warning sign for stocks.
Investors will be eagerly awaiting what Federal Reserve Chairman Kevin Warsh says.
Diesel prices hit a record $6.20 per gallon as the Iran war disrupts the Strait of Hormuz, threatening to raise costs across the U.S. supply chain.
Lawmakers are seeking to address calls for artificial intelligence guardrails after renewed warnings about the technology's risks. The leaders of top AI frontier companies Anthropic, OpenAI and xAI made stunning admissions in recent days that AI is advancing too fast.
The single most important pipeline in global oil trade is offline, and the clock on the world's fuel reserves is measured in days.
Record diesel prices are exposing a critical constraint in global energy markets as refinery disruptions abroad collide with limited capacity in the US. GasBuddy's Patrick De Haan is on Bloomberg This Weekend and says producing more crude alone won't solve the problem because refiners are already operating near their limits, leaving little room to boost gasoline and diesel supplies quickly.
The information-technology sector stands out when it comes to issuing upbeat earnings outlooks.
This week's focus is the Fed's rate decision, with markets pricing in an 87% chance of a 25bps hike after strong inflation and payrolls data. Sticky inflation and 10-year Treasury yields near 5% are pressuring the Fed, but higher long-term yields may substitute for further rate hikes.
Calls to slow AI development may create near-term uncertainty for markets, but BMO Capital Markets' Jennifer Lee is on Bloomberg This Weekend and says the technology's infrastructure, investment and demand are unlikely to reverse course. She says concerns about jobs, data centers and profitability could temper the pace of growth, even as labor shortages and the push for automation keep AI's longer-term economic expansion intact.
The Fed faces mounting pressure to raise rates by 25 bps as inflation remains above the 2% target. Global central banks are already hiking rates.
