📈 Stocks / Finance

U.S. stock indexes hit new records as AI, M&A fuel rally

AP News

The S&P 500, Dow, and Nasdaq all hit record highs, driven by Nvidia's $100B OpenAI deal and major M&A activity. Oracle surged 6.3% on TikTok news. Pfizer, Compass, and Atlas Holdings also announced acquisitions. Coinbase fell 3.1% as crypto stocks retreated.

Apple shares rise on iPhone 17 demand and Wedbush upgrade

Yahoo Finance

Apple stock rose 4.3% after Wedbush raised its price target to $310, citing iPhone 17 demand tracking 10% to 15% ahead of last year. Suppliers report a 30% boost in orders for cheaper iPhone trims, while shipping lead times nearly doubled, signaling strong consumer interest.

MBX Biosciences doubles on thyroid drug trial results

Investor’s Business Daily

MBX stock surged 100% after its thyroid drug canvuparatide showed 63% response at 12 weeks and 79% at six months. The biotech plans a Phase 3 trial in 2026, targeting chronic hypoparathyroidism, a market with significant unmet needs and limited treatment options.

🪙 Crypto

Over $1B in crypto liquidated as bitcoin slips below $112K

The Block

Crypto markets saw $1.7B in liquidations, $1B of it in under an hour, as BTC fell 2.5% to $112K and ETH dropped over 6%. Analysts cite nervous sentiment among traders despite long-term holders staying put, as the market cools below post-Fed cut levels.

🌎 Global Economy

Swiss offer concessions as South Korea warns of crisis over US tariffs

Yahoo Finance

Switzerland proposed increased US investments to ease Trump-era tariffs, while South Korea warned that US demands could trigger a 1997-style financial crisis. A $350B commitment from Seoul hinges on currency swap assurances, highlighting global instability from US trade actions.