Good morning, you're listening to Markets Desk.
Greg Abel is wasting no time at the helm of Berkshire Hathaway. Warren Buffett confirmed to CNBC that his successor has already launched his first major deals, including billions directed toward artificial intelligence. It's a meaningful signal that Abel intends to put his own stamp on the portfolio rather than simply steward Buffett's legacy positions.
Shifting to energy, U.S. commercial crude inventories are drawing down to levels that are making traders uncomfortable. With the conflict involving Iran now stretching into its fourth month and no clear resolution in sight, the cushion that typically absorbs supply disruptions is thinner than markets would like. Oil prices remain sensitive to any escalation.
And on the IPO front, SpaceX is approaching what could be the largest public debut in market history, but analysts are urging caution. The company's projections lean heavily on moonshot assumptions around Starlink growth and launch volume, and some on Wall Street warn that even modest shortfalls against those targets could make the valuation difficult to defend at scale.
That's the tape. Markets Desk, signing off the floor.
