Welcome to Markets Desk, your midday read on what's moving markets and making news.
Nvidia reports earnings in hours, and the stakes could not be higher. Management's own guidance points to fiscal first quarter revenue of seventy-eight billion dollars, and Wall Street will be watching data center demand, export restrictions, and any forward commentary closely. This print has the power to move the broader market.
Shifting to the labor market, Meta Platforms is executing another significant round of layoffs, with roughly eight thousand positions being eliminated across the United States, Europe, and Singapore. This follows earlier cuts the company framed as a year of efficiency, and it signals that Zuckerberg's leaner operating philosophy is far from finished.
And in the regulatory space, Minnesota has become the first state to sign a ban on prediction markets, targeting platforms like Kalshi and Polymarket. The CFTC is pushing back hard, filing suit against Governor Tim Walz directly. The legal fight will define whether federal oversight can preempt state-level restrictions on what these platforms call legitimate financial instruments.
That's the tape. Markets Desk, signing off the floor.
