What’s News in Markets: Bond Selloff, Big Nvidia Deals, Apple’s New CEO
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What is the main topic discussed in this episode?
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Hey listeners, it's Saturday, September 5th. I'm Shrada Dinesh for The Wall Street Journal, and this is what's news in markets. Our look at the biggest stock moves of the week and the news that drove them. Let's get to it.
Why did bond yields spike to multi‑year highs this week?
It's the unofficial end of summer, but markets aren't exactly soaring into Labor Day weekend. September is off to a rocky start. The conflict in the Middle East was back at the forefront for investors this week, as renewed fighting in the Shrediformuz sent Brent crude back above $90 a barrel, ending the week at about $96. The rise in energy prices fueled inflation concerns and pushed bond yields higher. More on that later. As for stocks, things were mixed.
How are rising energy prices and Fed expectations driving the bond sell‑off?
The Nasdaq added 0.4% for the week. The SP 500 gained 0.1%, and the DAO finished about a quarter of a percent lower. Bond yields around the world hit new multi year highs this week, lifted by a confluence of factors, including the sharp climb in energy prices driven by the war in Iran. Worries about runaway government spending, uncertainty from a new Fed chairman, and the huge surge in corporate bond issuance to fund the AI build out. A hotter than expected jobs report was added to the mix Friday, ten year Treasury yields rose to four point seven eight three percent, reversing the declines that led up to the report. A strong labor market adds to expectations that the Fed could raise interest rates this month.
What big Nvidia deals are reshaping the AI landscape?
On Friday, interest rate futures placed the odds at sixty forty in favor of a September hike. Up from a fifty fifty coin toss the day prior. NVIDIA is expanding its dominance over the AI landscape with a series of big ticket deals this week. First, hardware. NVIDIA announced it's investing three and a half billion dollars into Taiwanese chipmaker Media Tech. The companies will work together on local AI computing and will develop platforms for AI powered vehicles.
How did investors react to Nvidia’s hardware, cloud and software acquisitions?
Next, physical infrastructure. Anthropic has signed a thirty five billion dollar cloud computing deal with Lambda. A cloud computing provider backed by NVIDIA. People familiar with the Mattersay Nvidia itself will hold the lease on the data center. Lastly, software. Nvidia agreed to buy AI's startup Hugging Face in a deal worth roughly $13 billion. Engineers use Hugging Face to collaborate on machine learning projects from model development to applications. The acquisition is aimed at helping NVIDIA develop open weight models, which work locally and are customizable and related services.
What challenges does Apple’s new CEO face in the AI‑first era?
NVIDIA Chief Executive Jensen Wong said Hugging Face would remain an open platform. So how did investors take in all this deal making? Shares of NVIDIA rose point eight percent on Friday to cap off a weekly gain of close to six percent.
And from the world's most valuable company to the second most, Apple, the This week, all eyes were on John Turnus, who officially became Apple's new CEO. He replaces Tim Cook, who was ending a fifteen year run at the helm.
How did Apple’s stock move during John Turnus’s first week as CEO?
Under Cook, Apple grew to nearly five trillion dollars in market value. Annual iPhone sales also more than tripled. Now Turnus faces a major challenge. He must get Apple back in front of the next big tech shift. Apple's fallen behind rivals in AI, and that leaves it vulnerable as companies like OpenAI build a new generation of AI-first devices. During Turnus's first week in charge, Apple shares initially rose, but then fell two and a half percent on Friday. And in the end, we're basically flat for the week. And now you know what's news in markets this week. You can read about more stocks that moved on the week's news in our live markets coverage on WSJ.com.
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Chapters
7 chapters
1
What is the main topic discussed in this episode?
0:00–0:44
2
Why did bond yields spike to multi‑year highs this week?
0:44–1:15
3
How are rising energy prices and Fed expectations driving the bond sell‑off?
1:15–2:10
4
What big Nvidia deals are reshaping the AI landscape?
2:10–2:47
5
How did investors react to Nvidia’s hardware, cloud and software acquisitions?
2:47–3:29
6
What challenges does Apple’s new CEO face in the AI‑first era?
3:29–4:09
7
How did Apple’s stock move during John Turnus’s first week as CEO?
4:09–5:48
Speakers
2 identifiedMore from WSJ What’s News
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Global Markets Shake Off Rate-Hike Jitters