Good morning, you're tuned into Markets Desk, and here's what's moving the needle today.
President Trump has struck a diesel supply agreement with Russia, but the scale of the deal is drawing immediate skepticism — the volume amounts to less than two weeks of total U.S. demand. With midterm elections less than a month out and fuel prices a persistent political liability, the administration needed a headline, and it got one, though the market impact on energy prices looks modest at best.
Shifting to Washington's regulatory front, the Federal Trade Commission and seven state attorneys general are moving to hold Martin Shkreli in contempt, alleging he has flagrantly and repeatedly violated the lifetime ban that barred him from the pharmaceutical industry. The FTC says Shkreli has continued trading biopharma stocks, using influence over companies and their pipelines despite the court order. Enforcement action could follow swiftly.
And on the broader investment landscape, a compelling case is being made that the artificial intelligence buildout represents the single largest capital bet in American history — larger in scope than the railroads, the interstate highway system, or the early internet. History also reminds us that transformational infrastructure waves have a habit of burning investors before they enrich them, and analysts are watching leverage and valuation closely.
That's the tape. Markets Desk, signing off the floor.
