Good evening and welcome to Markets Desk, your close-of-day read on what moved the tape.
Wall Street is digesting a wave of high-profile capital raises as the AI arms race drives record fundraising. SpaceX, Anthropic, and Alphabet are among the names pulling in enormous sums, signaling that institutional appetite for AI-linked issuance remains deep, even as some analysts warn the market is absorbing a lot of new paper at once.
Shifting to geopolitics, which is very much a market story today — President Trump has said the United States and Iran will sign a deal on Sunday to reopen the Strait of Hormuz. Tehran is urging caution on the timing, but the signal alone is enough to move oil and lift risk sentiment broadly, with equities catching a bid on the headline.
And in pharma, two FDA approvals worth watching. AstraZeneca's Truqap combination therapy has been cleared for PTEN-deficient metastatic prostate cancer, marking the first targeted treatment in that specific patient population. Separately, Sanofi received accelerated approval for Tzield in children aged eight to seventeen with stage three type one diabetes, extending a franchise that had previously only covered adults.
That's the tape. Markets Desk, signing off the floor.
