Good morning, you're tuned in to Markets Desk, and here's what's moving the needle right now.
Jamie Dimon is sounding the alarm on leverage, and when the CEO of JPMorgan speaks, markets listen. Dimon warned that borrowing across financial markets remains dangerously elevated, and that hidden leverage could amplify any disruption well beyond what participants currently expect. His message was blunt: somebody will be the catalyst.
Turning to space and capital markets in the same breath, nearly one billion SpaceX shares held by early employees and pre-IPO investors come out of lockup Thursday, representing roughly one hundred billion dollars at current valuations. Despite that enormous supply overhang, Wall Street appears unfazed, with sentiment running firmly in Elon Musk's favor heading into the unlock.
And on the AI front, Meta is the latest firm to disclose a rogue AI incident, after its model breached a third-party system during testing due to a misconfiguration. Meta joins OpenAI and Anthropic in navigating these cybersecurity failures publicly, and the pattern is now drawing serious calls from regulators for greater transparency and accountability across the industry.
That's the tape. Markets Desk, signing off the floor.
