Good morning and welcome to Markets Desk.
ServiceNow is the headline in equities this week, with shares surging roughly forty percent this month alone, leading a broad relief rally across enterprise software. The move reflects a sharp reversal in sentiment — investors who had been pricing in AI disruption to legacy software platforms are now rotating back in, betting that adoption, not obsolescence, is the real story.
Shifting from markets to macro, Jamie Dimon was on the tape this morning with a pointed message for the graduating class of two thousand twenty six. The JPMorgan chairman told young workers to stop fearing artificial intelligence and start building the judgment and communication skills no algorithm can replicate. He framed it simply — learn how to think, learn how to earn respect. Blunt, but consistent with how Dimon reads long-term labor dynamics.
And in geopolitics, which always carries market implications, the Financial Times is reporting that Tehran views current American concessions in nuclear talks as fundamentally suspect — too generous to be genuine. Iran's calculus, according to the reporting, is that a deal struck under pressure today sets the stage for renewed confrontation tomorrow. That kind of strategic distrust keeps a risk premium baked into oil markets.
That's the tape. Markets Desk, signing off the floor.
