Oracle is planning a $300 billion investment in AI infrastructure to compete at hyperscaler scale.
President Donald Trump abruptly called off plans to sign a bipartisan housing affordability bill, saying he will back the measure only after the SAVE America Act is passed, escalating tensions with GOP leaders. Trump has also tied related policy moves to conditions including limits on CBDC development. The Senate voted separately to limit Trump's Iran war powers, signaling tighter congressional constraints on the administration's conflict authorities. The housing bill has become a political flashpoint in Washington, with Trump's conditional support dragging timeline risk as lawmakers push for final passage.
U.S. markets steadied after a sharp tech-led selloff, with index futures pointing to a firmer open as investors weighed lower oil prices against ongoing rate uncertainty. The S&P 500 and Nasdaq tracked higher early in the session, while semiconductor and AI-linked names remained the swing factor and volatility risk stayed elevated ahead of upcoming earnings catalysts. The Fed's messaging and guidance are back in focus as markets react to oil price moves and shifting rate expectations, with commentary from Treasury and the broader rate complex feeding volatility while investors position for the next inflation and policy data path.
A major U.S.-Iran track is moving from diplomacy to enforcement, with leaders trading claims on assets, inspections, and whether Iran will allow shipping through Hormuz without tolls. The picture includes pressure on the nuclear file and uncertainty over how the ceasefire endgame will be policed. Oil and shipping through Hormuz are showing signs of normalization while prices remain under pressure, with crude inventory moves and Strait of Hormuz risk dynamics as two drivers that can swing inflation expectations and energy hedging. The Iran war endgame is also reflected in shipping evacuation planning, where the international machinery moves to reduce exposure for crews stranded by conflict.
AI is shifting from hype to infrastructure—and then to governance—through custom silicon and new cost pressures. OpenAI and Broadcom announced Jalapeño, OpenAI's first custom AI chip for inference, marking a step toward reducing reliance on outside silicon for AI servers. Meta paused a program that tracked employee keystrokes and screen activity as internal and privacy concerns mounted, adding reputational and regulatory risk to its AI push, while Anthropic's security findings from classified environments raised additional governance concerns. The Trump administration committed $18 billion in supply-chain loans for 10 AP1000 nuclear reactors. Heat waves are colliding with power systems and public safety in Europe, with blackouts and grid strain raising costs and operational risk as utilities face pressure during peak demand. Treasury Secretary Scott Bessent stated, "We can have [GDP growth] above 3% before the end of the year," signaling the administration's economic strategy tied to infrastructure-aligned financing.
Robotaxi momentum is accelerating with redesigned Zoox vehicles aimed at wider rollout and commercial service scale. Crypto regulation is tightening and the legal terrain is shifting, with platforms making moves to preserve access, including Binance's Greece license withdrawal amid new legal pressure around crypto enforcement and oversight. Prediction markets continue expanding despite political and regulatory pushback, with new federal and exchange moves. Asian markets are being buffeted by tech volatility and semiconductor swings, with investors rotating amid AI-driven swings as chip concerns spread across Seoul and Tokyo.