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EchoStar sells spectrum licenses to SpaceX, StubHub to launch IPO: Morning Buzz

The major averages were broadly higher near noon, recovering ground after Friday’s pullback as investors grow increasingly confident that the Federal Reserve will ease monetary policy soon. A softer nonfarm payrolls report last week has pushed the market-priced odds of a 25 basis-point rate cut in September to around 90%, with some even contemplating a potential half-point cut.

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Barclays has raised its projection to three rate cuts for 2025, up from two, while Standard Chartered now expects 50 basis points of easing in September alone. Markets are also positioning for key inflation data due later this week, including upcoming CPI readings that could sway the Fed’s decision.

Safe-haven assets remain a theme as gold continues its relentless ascent, breaking through the $3,600-an-ounce threshold for the first time and even fast-approaching $3,700, buoyed by the combination of dovish policy expectations, central bank demand, and geopolitical uncertainty. Meanwhile, oil prices are climbing higher as well, recovering from last week’s declines.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

2. WALL STREET CALLS:

3. AROUND THE WEB:

  • Amazon (AMZN)– and Alphabet (GOOGL)-backed Anthropic has agreed to pay $1.5B to settle a class-action lawsuit from a group of authors who accused the AI company of using their books to train its AI chatbot Claude without permission, Reuters says
  • Elliott Investment Management, an investment firm that has led past activist campaigns, has amassed a roughly $4B stake in PepsiCo (PEP), WSJ reports
  • Volkswagen (VWAGY) was in discussions with the U.S. over investments in the country, Reuters says
  • ASML (ASML) is set to become the top shareholder of AI startup Mistral AI, Reuters reports
  • Jim Momtazee’s Patient Square Capital is exploring an acquisition of Premier (PINC), Bloomberg says

4. MOVERS:

5. EARNINGS/GUIDANCE:

INDEXES:

Near midday, the Dow was up 0.06%, or 28.37, to 45,429.23, the Nasdaq was up 0.64%, or 138.13, to 21,838.52, and the S&P 500 was up 0.24%, or 15.24, to 6,496.74.

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