Welcome to Markets Desk, your midday read on what's moving markets and the stories behind them.
Nvidia crossed five trillion dollars in market capitalization this week, a figure surpassed in annual economic output only by the United States and China. Alphabet's Google Cloud posted eighty-two percent revenue growth, and Palantir continued its run, cementing the narrative that artificial intelligence is no longer a theme — it's a balance sheet reality.
Staying in the currency of the moment, a panel at Sibos two thousand twenty-six in Miami addressed the question hanging over global finance — whether the US dollar's reign as the world's reserve and trade settlement currency is fading. The consensus from bankers and foreign exchange experts was measured but clear: not yet. The dollar's institutional depth still has no credible rival.
Morgan Stanley is making a case that's worth hearing on the space sector, calling Rocket Lab an undervalued launch play in a field dominated by SpaceX and Blue Origin. The firm argues the company is winning contracts quietly while the market's attention stays fixed on the bigger names, leaving what analysts see as a meaningful valuation gap.
That's the tape. Markets Desk, signing off the floor.
