Welcome to Markets Desk, your midday read on the stories moving money and markets.
Kevin Warsh is wasting no time reshaping the Federal Reserve. The new Fed Chair has already stripped forward guidance from FOMC statements, and now reports suggest he's weighing fewer annual policy meetings. For Wall Street, which prices risk around every Fed calendar date, that kind of structural uncertainty is anything but welcome.
Shifting to equities, Palantir is turning heads after reporting net revenue retention climbing to one hundred fifty seven percent, up from one hundred fifty in the prior quarter. That means existing customers are spending dramatically more, and with revenue growth accelerating toward ninety three percent, the debate is no longer whether Palantir has a business — it's whether the valuation can keep pace with the fundamentals.
Meanwhile, SpaceX shares fell roughly ten percent after investors grew uneasy over surging artificial intelligence spending. Elon Musk pushed back by pulling forward the company's one trillion dollar annual revenue target by a full year, to two thousand thirty. But when capital expenditure climbs faster than conviction, markets tend to sell first and ask questions later. The spending story isn't done.
That's the tape. Markets Desk, signing off the floor.
