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Bloomberg

Tech Sector Leads Market Gains

The boom in artificial-intelligence spending is actually accelerating, setting up the rally in tech stocks to continue for at least another couple of quarters, according to Tiffany Wade, a senior portfolio manager at Columbia Threadneedle Investments. She speaks with Ed Ludlow on Bloomberg Television's "Bloomberg Tech."

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Bloomberg

Dennis Lockhart on Greenspan's Legacy, Warsh's Path Ahead

Alan Greenspan, the former Federal Reserve chairman, has died at the age of 100 due to complications of Parkinson's disease. Greenspan served as Fed chief for 18 years, from 1987 to 2006, and was known for guiding a record US economic expansion, but his legacy was later dimmed by the financial crisis that erupted after he stepped down. In a statement on Monday, the Fed said, "Chairman Greenspan's legacy endures at the Federal Reserve in those he mentored directly, in the economists and public servants he inspired, and in the frameworks and practices he helped shape." Dennis Lockhart, former Atlanta Fed President, joins Bloomberg Intelligence Radio to discuss Greenspan's life and legacy, as well as what lies ahead for newly minted Chairman Kevin Warsh.

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Bloomberg

Microsoft, Chevron Sign Power Deal for Texas Data Center

Chevron Corp. signed a 20-year deal with Microsoft Corp. to provide natural-gas fired power for a proposed West Texas data center, which could be one of the biggest in the US. The proposed plant, Project Kilby, is expected to start producing power by 2028 and will ramp up to 2.67 gigawatts over time, Houston-based Chevron said in a statement Monday. That's enough to power more than 530,000 Texas homes. The oil giant, which is collaborating on the development with investment fund Engine No. 1, plans to make a final investment decision later this year. Bloomberg News previously reported the companies were in exclusive talks over a long-term power deal. For more, we speak with Kevin Crowley, Bloomberg News Oil Reporter.

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Bloomberg

How AI Is Reshaping Retail Discounts

Upside Co-Founder and CEO Alex Kinnier joins Bloomberg Open Interest to explain why American consumers are feeling squeezed despite falling gas prices, reveals what transaction data says about spending habits. He also discusses how AI is transforming retail with hyper-personalized offers that save consumers money while helping retailers grow profits.

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Bloomberg

AbbVie's Deal with Apogee; Regenxbio Moves on Gene Therapy Drug | Stock Movers

On this episode of Stock Movers with Nathan Hager: - Apogee (APGE) shares are soaring on news AbbVie is closing in on a nearly $11 billion deal to buy inflammatory disease drug developer Apogee Therapeutics. That's also according to a Financial Times report. - Regenxbio (RGNX) shares are moving on news Regenxbio aligned with the FDA on next steps for a potential accelerated approval of Navsunli, a gene therapy for Mucopolysaccharidosis II, with the FDA confirming the company doesn't need to conduct additional studies of the drug. - SpaceX (SPCX) is lower this morning, continuing its slide after its record IPO.

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