IBM partners with Anthropic, Dell boosts long-term view: Morning Buzz

The major averages were broadly lower, curtailing some recent gains as the U.S. government shutdown enters its seventh day, with the Senate for a fifth time on Monday failing to pass a House bill that would have temporarily funded the government. The chamber voted largely along party lines, and at least eight Democrats will have to join Republicans to meet the 60-vote threshold for advancing any measure.

Internationally, political turbulence in France, Japan, and the U.S. is adding an undercurrent of risk. Investors are also watching the Fed closely. The rally over the past weeks has largely hinged on expectations of additional easing so any remarks from Fed officials that deviate from the dovish script could trigger outsized reactions.

Looking to commodities, gold prices continue to soar to record highs, with the “safe haven” asset climbing past the $4,000 mark for the first time. Meanwhile, the price of oil is marginally lower ahead of the API crude numbers that are set for release this afternoon.

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

1. STOCK NEWS:

• IntercontinentalExchange (ICE) will invest up to $2B in predictions market Polymarket
• IBM (IBM) announced a partnership with Anthropic over software development and Claude integration
• Constellation Brands (STZ) reported upbeat Q2 results and reiterated its FY26 outlook
• Dell Technologies (DELL) increased its long-term EPS growth view and reaffirmed its Q3 and FY26 guidance
• Ford (F) will likely note the potential impact from a fire at a Novelis plant in New York in its Q3 report, according to The Wall Street Journal

2. WALL STREET CALLS:

• Jefferies upgraded AMD (AMD) to Buy on “multigenerational” OpenAI pact
• Dollar Tree (DLTR) downgraded to Underperform at Jefferies
• Netflix (NFLX) upgraded to Buy at Seaport Research
• GE HealthCare (GEHC) downgraded at Citi, here’s why
• Analysts rolled out coverage on four recent IPOs, including Gemini (GEMI), Via Transportation (VIA), Black Rock Coffee Bar (BRCB) and Legence (LGN)

3. AROUND THE WEB:

• Boeing (BA) is set to gain conditional EU approval for its $4.7B acquisition of Spirit AeroSystems (SPR), Reuters reports
• A jury has awarded a $966M verdict against Johnson & Johnson (JNJ), Law.com reports
• Nissan (NSANY) is in talks with other automakers to supply an electrified vehicle based on its top-selling Rogue crossover, Automotive News reports
• Tesla (TSLA) is expected to unveil a lower-cost Model Y, Reuters says
• Banks are competing for roles on the potential upcoming IPOs for Fannie Mae (FNMA) and Freddie Mac (FMCC), (TMQ) soars in New York after the U.S. government acquired a 10% stake in the company
• Lexeo Therapeutics (LXEO) higher after providing an update on LX2006’s accelerated approval
• James Hardie (JHX) rises after providing upbeat Q2 earnings and revenue guidance
• Bitcoin Depot (BTM) lower after announcing a $15M registered direct offering of common stock
• AST SpaceMobile (ASTS) falls after entering into an $800M equity distribution agreement

5. EARNINGS/GUIDANCE:

• Verizon (VZ) reiterated its FY25 earnings outlook
• Barfresh Food Group (BRFH) backed its FY25 revenue view
• Profound Medical (PROF) provided Q3 revenue guidance
• Aehr Test Systems (AEHR) reported upbeat Q1 results
• Senseonics (SENS) reported upbeat preliminary Q3 revenue

INDEXES:

Near midday, the Dow was down 0.36%, or 169.74, to 46,525.23, the Nasdaq was down 0.81%, or 185.67, to 22,755.99, and the S&P 500 was down 0.53%, or 35.79, to 6,704.49.