Welcome to Markets Desk, your midday read on the stories moving markets and the world.
Alan Greenspan, the man who shaped modern monetary policy for nearly two decades as Federal Reserve chairman, has died at one hundred years old. Greenspan's tenure defined an era of American economic expansion, and his influence on central banking philosophy continues to echo in the decisions made at the Eccles Building today.
Turning to energy markets, veteran oil trader and author Dan Dicker is sounding a serious alarm. He argues that President Trump's rhetoric around oil prices has effectively masked a deepening global supply crisis, and that once that jawboning loses its grip on sentiment, the fundamentals could drive crude as high as one hundred thirty five dollars a barrel. That would be a seismic repricing with broad consequences for inflation, consumers, and Fed policy alike.
And in a development that sits squarely at the intersection of aerospace and artificial intelligence, SpaceX has announced the acquisition of Cursor AI in a deal valued at sixty billion dollars, announced just one day after SpaceX's IPO. The timing is striking, and the price tag signals how aggressively Elon Musk intends to embed AI capability directly into his industrial empire.
That's the tape. Markets Desk, signing off the floor.
