Good afternoon and welcome to Markets Desk.
Equities are under modest pressure today as Iran suspended ceasefire negotiations and threatened to close the Strait of Hormuz, sending oil prices sharply higher. The S and P five hundred is down fractionally, the Dow off about a quarter percent, though the Nasdaq is holding slight gains as tech continues to find buyers despite the geopolitical noise.
Shifting to housing, Berkshire Hathaway's move into Taylor Morrison is drawing serious attention on the Street. Analysts read the deal as a signal from Warren Buffett that the residential housing market may have found its floor, a meaningful endorsement given Berkshire's track record of entering cyclical sectors at precisely the right moment.
And in IPO news, SpaceX has filed to reserve five percent of its offering shares for staff, friends, and family, a structure that gives insiders early access ahead of what would be one of the most anticipated public listings in years. The filing also clarified terms around the company's multibillion-dollar arrangement with AI firm Anthropic, adding another layer of complexity to an already closely watched deal.
That's the tape. Markets Desk, signing off the floor.
