Good evening and welcome to Markets Desk, your close of business briefing on the stories moving markets and minds tonight.
Bitcoin marks its eighteenth birthday today, and the milestone arrives with anything but quiet celebration. The original cryptocurrency faces a new generation of threats, from artificial intelligence-driven security vulnerabilities to quantum computing fears, all while the industry absorbs what analysts are calling the largest exchange hack in crypto history. Quite the coming-of-age moment.
Shifting to equities, Rocket Lab shares have shed thirty-eight percent this month despite sitting on a backlog worth two point three six billion dollars, more than double its projected two thousand twenty six revenue. The disconnect between fundamentals and price action reflects broader sentiment cooling around space launch names after the initial euphoria surrounding SpaceX's splashy IPO run drove valuations to difficult-to-defend levels.
And in energy, ExxonMobil and Chevron delivered earnings calls that were notably free of apology. Both chief executives projected strong profitability running at least into two thousand twenty seven, with capital discipline and cost structures they argue can sustain returns even in a softer crude environment. Big oil is making no promises to slow down.
That's the tape. Markets Desk, signing off the floor.
