Good morning and welcome to Markets Desk, your morning read on what's moving markets and making news.
Atlassian shares exploded thirty-five percent higher Friday after the collaboration software giant posted results that turned the AI displacement narrative on its head. Rather than shrinking the developer workforce, AI is pulling more people into software creation, driving demand for tools like Jira and Confluence and lifting Atlassian's revenue in the process. The market clearly liked what it heard.
Shifting to the Federal Reserve, President Trump has revived his threat to remove Fed Governor Lisa Cook, despite a Supreme Court ruling in June that she could remain in her seat while legal proceedings continue. The move reignites concerns about executive pressure on central bank independence, a dynamic that bond markets have been watching with growing unease throughout this administration.
And in the startup world, live-shopping platform Whatnot has reached a valuation of twenty billion dollars after a founding journey that included one hundred investor rejections. CEO Grant LaFontaine credits the breakthrough partly to co-founder Logan Head, who spent four to five weeks in near-total isolation to build the initial product. It is a reminder that the most consequential platforms often begin in the most unglamorous circumstances.
That's the tape. Markets Desk, signing off the floor.
