Caroline Hepker

Also, reasonably supportive reaction in French bonds to the budget decision agreement.

3.44 for French yields down, just barely a basis point this morning.

Bloomberg Dollar Spot Index is weaker two-tenths of 1%, Stephen.

I'm Caroline Hepka.

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I'm Caroline Hepker.

Elon Musk is combining SpaceX and XAI in a deal that values the enlarged entity at $1.25 trillion.

In a statement on SpaceX's website signed by Musk, the rocket firm said that it acquired XAI to innovate in areas including AI, rockets and space-based internet.

The deal brings together two of the largest closely held companies in the world.

Bloomberg's M&A reporter Ryan Gould says it's possible that Musk could also be eyeing a tie-up with Tesla in the future.

Ryan Gould speaking there.

The combined SpaceX firm is still expected to go public later this year as the world's richest man looks to fund his costly bets on artificial intelligence and space exploration.

Precious metals are recovering some of their losses today after plunging from record highs over the past few days.

Spot gold has climbed as much as 4.2% after falling by close to 5% yesterday.

Silver rising as much as 8.1%, erasing the previous day's losses before pairing gains.

Bloomberg's Brendan Fagan says the worst of the sell-off appears to be over.

Bloomberg's Brendan Fagan was speaking after investors had been piling into gold and silver over recent weeks, driven by renewed concerns about geopolitical upheaval, currency debasement and threats to the Federal Reserve's independence.

France's inflation rate has dropped to its lowest level in five years.

Consumer prices rose by 0.4% in January compared to a year ago, below the average estimate.