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The Contrarian

4 hours ago

Redacted - by RJ Matson - The Contrarian

Hormuz Shipping Traffic Falls, . . .U.S. Homebuilder Sentiment Slips Again to Match Year’s Low, . . .Roll Up for the Great British Closing Down Sale, . . .Lilly Strikes $3.8 Billion Deal for Psychedelic Drugmaker

Watch: US Hits Oil Tanker as Strikes Against Iran Intensify

Iran-US Hostilities Worsen as Hormuz Shipping Traffic Falls

Tensions between the warring sides show little sign of abating.

CO1

0.02%

CL1

0.14%

More

Iran’s Top Negotiator Defends US Peace Talks Against Hardliners

US Drivers Are Again Paying More Than $5 a Gallon for Diesel

US Stocks Head Lower

NDX

–1.15%

SPX

+0.42%

Markets Wrap

Chip Stocks Hit by AI Spending Worry as Oil Climbs

Concerns are rising over whether massive AI investments will justify lofty valuations.

Related

Hoisington, US Bond Bull for Decades, Turns Decidedly Bearish

IPOs of Tiny Foreign Firms Nearly Vanish in US After Pump-and-Dump Crackdown

Ore Huiying/Bloomberg

Lilly Strikes $3.8 Billion Deal for Psychedelic Drugmaker

LLY

1.20%

MRK

3.46%

Businessweek

How Eli Lilly Got Huge By Making Us Thin

Merck’s $3,800-a-Year Cholesterol-Cutting Pill Gets FDA Nod

Félix Decombat

The Big Take

Hedge Fund Giants Snap Up Smaller Rivals’ Trade Ideas

Citadel and Point72 are among the managers sourcing trade signals to aid a multibillion-dollar profit engine.

Multistrat Hedge Fund Paloma to Cut Teams in Latest Pivot

US Retail Sales Rise Modestly as Consumers Spend Less on Gas

A drop in gas-station receipts masked strong gains at some merchants.

Related

US Homebuilder Sentiment Slips Again to Match Year’s Low

US Jobless Claims Decline to 208,000, Below Forecasts

Bloomberg Opinion

Trump’s ICE Crackdown Is Becoming a Republican Liability

By Erika D. Smith, Columnist 

Two States Are Making the Case That Money Isn't Political Speech

By Mary Ellen Klas, Columnist

Bessent’s 3-3-3 Economy Is Slipping Out of Reach

By Justin Fox, Columnist

A Lucid Look at America’s Failing EV Sector

By Liam Denning, Columni

Timothy A. Clary/AFP/Getty Images

Exclusive

Apple Readies End-to-End iPad Refresh, Inc

luding OLED Mini

Apple plans the biggest overhaul to the iPad mini in half a decade, giving new life to a product that’s popular with travelers and technology enthusiasts.

Exclusive

A $399 Smart Ring Aims to Replace the 150-Year-Old Blood Pressure Cuff

American CEOs’ Secret Weapon in the AI Age: The Chief of Staff

Postings for the job more than doubled last year, with salaries that can reach $400,000.

BofA’s Moynihan Joins Bank CEOs Warning About Mythos AI Risks

Mark Felix/Bloomberg

Talarico’s Texas Senate Bid Gets $10 Million Boost From LinkedIn Co-founder Hoffman

The race may be one of the most expensive races of the 2026 midterms.

Dario Amodei, Anthropic Employees Give Millions to Regulate AI

Deadly ICE Shooting Jolts an Already Chaotic Maine Senate Race

Businessweek

The Identity Crisis at Elon Musk’s Chaotic AI Outfit

Texas Floods, Canada Smoke and Western Heat Batter US

For Software Engineers, the AI Reckoning Is Already Here

Uber Agrees to Buy Delivery Hero in $14.8 Billion Deal

Technology

AICybersecurityScreentime

South_agency/E+/Getty Images

Travel Agency Platform Fora Valued at $1 Billion in New Funding

Hollywood Sci-Fi Lot Pitched as Site to Make Real Space-Age Weapons

US Stocks Tumble as TSMC Results Revive AI Spending Concerns

Newsletter: Power On

Apple’s M6, M7 and M8 Chips Show How AI Is Reshaping the Company

Newsletter: Tech In Depth

China Doesn’t Wait to See If AI Companions Can Be a Force for Good

Money

SEC Embraces Digital Default With Electronic Delivery Plan

Roll Up for the Great British Closing Down Sale

Adult Happy Meals Lure Even High-Earning American Diners

Young Japanese Who Rode AI Boom Flaunt Wealth With Luxury Buys

Politics

UKEuropeMiddle EastAsia

Chris J. Ratcliffe/Bloomberg

Mahmood’s Economic ‘Blank Slate’ Key to Appeal as UK Chancellor

Deadly ICE Shooting Jolts an Already Chaotic Maine Senate Race

Dario Amodei, Anthropic Employees Give Millions to Regulate AI

Newsletter: Washington Edition

Maine, Texas ICE Shootings Add to GOP Midterm Pressures

Newsletter: Balance of Power

Xi Scores a Coveted Soft-Power Win Over Trump

Economics

Inflation & PricesIndicatorsCentral Banks

Cristobal Olivares/Bloomberg

Chile Senate Hands Kast a Win on Key Economic Reform Bill

Russia Sanctions Bill Sparks Fears of Broadening Trump’s Tariff Powers

The Fed’s Warsh and Bank of Korea’s Shin Ponder AI’s Impact on Inflation

Newsletter: Economics Daily

The Fed’s Warsh and Bank of Korea’s Shin Ponder AI’s Impact on Inflation

Listen (31:19)

Bloomberg Surveillance: Equity Bull Case

Industries

SpaceLegalEnergyHealth

Justin Sullivan/Getty Images

US Takes Aim at Autonomous Car Mishaps in Safety Rulemaking Push

Boeing Expects to Win Certification for Long-Delayed Jet Models

Kalshi Will Offer Sports-Style Betting on Drug Trial Results

Listen (31:22)

The Deal: Hoyt McGarity on the State of Golf

Newsletter: Business of Space

It’s Europe vs. SpaceX in Fight Over Satellite Networks

Green

New EnergyGreener LivingESG Investing

Cole Burston/AFP/Getty Images

Ontario Asks Canada to Prepare Military for Wildfire Evacuations

Puzzling Methane Math Clouds Progress on Tackling Climate Threat