Australia Financial

A resurgence in oil prices dragged down stocks and bonds, stoking concerns about inflation just days ahead of the Federal Reserve decision on interest rates. Brent crude settled near $117 as a flare-up in Middle East violence threatened supplies. Most S&P 500 firms fell even as selling pressure on tech shares abated. A gauge of chipmakers edged up, but posted its longest weekly drop since November. The Dow Jones Industrial Average slipped 1.2%. Treasuries relinquished a portion of the previous session's rally. Co-Host of Odd Lots, Joe Weisenthal says it's important to the US Economy that tech companies fire on all cylinders.

The US government is working to address and stop any potential cybersecurity issues stemming from flaws in PHP, a widely used open-source software, that may impact federal agencies and American critical infrastructure, according to a White House official.  The programming language, called PHP, contains two vulnerabilities which could potentially expose organizations using it in websites and software platforms to cyberattacks. Jay Chaudhry, CEO & Founder, Zscaler says we need new more proactive measures beyond firewalls.

Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Jess Menton, Carol Massar and Tim Stenovec.

Leaked data from Moderna and Merck's highly anticipated melanoma vaccine trial has led to a rare disconnect between doctors, who celebrated the result, and Wall Street, which sold off the stocks. Normally results of such pivotal drug studies are binary, with doctors, patients and investors all learning whether a novel medicine will make a meaningful difference in people's lives and forming the same conclusion. Instead, as reports leaked out on social media about the findings of the melanoma shot days before the carefully scripted presentation planned for thousands of oncologists gathered in Madrid for the European Society for Medical Oncology meeting  realities diverged.  Madison Muller, Bloomberg News Healthcare Reporter, reports.

OpenAI wants to raise around $30 billion in a fresh funding round. That could value the ChatGPT maker at $1.25 trillion. This is according to people familiar with the matter. Bloomberg's Rebecca Torrence reports.

Daniel Squadron, co-founder of The States Project and former New York state senator, said that state houses will serve a key role in the legitimacy of elections and that President Trump is 'obsessed with undermining the independence of states' as local governments administer elections. Squadron said that local elections are where cynicism about politics 'melts away' because of closeness of candidates to their constituents.

Iowa GOP strategist David Kochel said he thinks its good for Iowa's Republican candidates that Trump is campaigning in the state and that the president is 'going to the right places where we really need Republican enthusiasm to kick in here.' Kochel said that Republican Senate Candidate Ashley Hinson is the star of the 2026 midterm field but will still need to 'defy gravity' to win the election.

Strategic investors are increasingly interested in getting into startups early says Alexa von Tobel, co-founder and managing partner of Inspired Capital. The early-stage generalist firm just closed its Fund IV with $450 million. Von Tobel discusses how Inspired plans to deploy the new capital on "Bloomberg Tech" with Ed Ludlow.

Xona a startup working to improve GPS with a new purpose-built commercial satellite navigation network has raised $250 million at a $2.45 billion valuation. Xona CEO and co-founder Brian Manning discusses the difference the company's smaller, more scalable satellites make, its recent regulatory approvals and plans for commercialization. Manning joins Ed Ludlow on "Bloomberg Tech."

Anthropic's upcoming public listing is poised to create multibillion-dollar gains for top venture capital firms, tech companies and independent investors that have backed the company. Bloomberg's Natasha Mascarenhas explains why many of the investors raking in huge paydays won't have their stakes listed when Anthropic releases its IPO filings. She joins Ed Ludlow on "Bloomberg Tech."

A resurgence in oil prices dragged down stocks and bonds, stoking concerns about inflation just days ahead of the Federal Reserve decision on interest rates. The recent selloff in AI-linked stocks is a reminder that the most popular trades tend to hurt the most when sentiment turns. Tani Fukui, Senior Director of Economic & Market Strategy at MetLife Investment Management, discusses Fed communication and what upcoming data will tell us about US inflation.

Apple Inc. has already shown there's a strong appetite for its $2,000-and-up foldable iPhone Duo. Now it needs to meet that demand. The new device went on sale Friday, bringing back the once-familiar sight of people lining up overnight to get their hands on it first. Marking the company's most radical reinvention in the iPhone's nearly two-decade history, the Duo is a major bet the company can establish itself in a category that's remained a niche so far. Bloomberg's Anurag Rana joins to discuss.