Good morning and welcome to Markets Desk.
Greg Abel is making his mark. Berkshire Hathaway's incoming chief ended a fourteen-quarter streak of net stock sales in the second quarter, deploying nearly twenty billion dollars into equities. It signals a decisive shift in posture from the Buffett era, and Wall Street is watching closely for what Abel reveals in today's earnings call.
Turning to labor, the job market is showing a structural crack that deserves attention. Workers who were once the most reliably employed — those in stable, consistently held positions — are now seeing the sharpest declines in job-finding rates. AI-exposed roles are driving much of that drop, and with overall job losses reported in July, this is not a blip but a reshaping of the employment landscape.
And over in crypto, SpaceX shares climbed back above their one hundred thirty-five dollar IPO price this week, closing at one hundred forty-six dollars and change on Tuesday. That recovery matters for private market sentiment broadly, signaling that investor appetite for high-conviction growth names hasn't fully dried up despite the rate environment still pressing on valuations.
That's the tape. Markets Desk, signing off the floor.
