Welcome to Markets Desk, here's what's moving right now.
Strategy ended its two-month Bitcoin drought in a big way, announcing a three hundred seventy million dollar purchase at an average price of roughly eighty thousand three hundred dollars per coin. The company funded the buy through recent equity raises, and shares responded positively, climbing nearly three percent to trade around one hundred thirty dollars. Michael Saylor's conviction trade is back on.
Shifting to energy policy, President Trump is set to meet with oil executives to discuss lowering gasoline prices, with midterms increasingly shaping the political calculus for Republicans. The administration's proposal to tap Venezuelan oil reserves through the Strategic Petroleum Reserve is drawing skepticism, with analysts questioning both the logistics and the diplomatic implications of leaning on that particular supply chain.
And in a story that tells you something about the moment we're living in, MapQuest is having a genuine viral revival after refusing to rename the Gulf of Mexico to Lake America in line with a Trump administration preference. The company leaned into its vintage identity, calling itself the original of online mapping, and says usage surged fifty times over. In two thousand twenty six, nostalgia is apparently a growth strategy.
That's the tape. Markets Desk, signing off the floor.
