Good afternoon and welcome to Markets Desk, your midday read on what's moving and why.
Equities finished Monday in the red, with the S&P five hundred off half a percent and the Dow shedding roughly the same ground. The culprit was a double headwind — crude oil climbing two dollars and fifty-five cents on the session while bond yields pushed higher, draining appetite for risk across the board. The Nasdaq held up marginally better but still closed lower.
Over in the commodities pits, cotton futures found firmer footing, closing up sixteen to sixty-eight points across contracts. The USDA's weekly crop progress report trimmed condition ratings, tightening the supply outlook just enough to give bulls something to work with. A weaker dollar, down nearly a tenth of a point on the index, added further tailwind to the move.
On the private markets side, AI proptech startup EliseAI is in advanced talks to raise a new funding round at a valuation as high as three point seven billion dollars. Andreessen Horowitz and Bessemer Venture Partners are both in discussions to lead the round. The company focuses on AI-driven communications for housing and healthcare — a reminder that venture capital appetite for applied AI remains firmly intact.
That's the tape. Markets Desk, signing off the floor.
