Mark Zuckerberg plans on monitoring Meta’s (Nasdaq: META) workforce but is letting them know first. The company is rolling out new tracking software on the computers of all U.S. employees in an attempt to train AI models, according to Reuters. The tool monitors a range of work-related apps and websites, capturing mouse movements, keystrokes and screenshots of whatever employees have on their screens. Meta confirmed the tool is being deployed in service of training its AI systems. Meta stock is up 0.09%.
The Nasdaq Composite is down about 0.35% this afternoon.
Fed Chairman nominee Kevin Warsh has set the record straight on interest rates. In response to a question during a Senate hearing, Warsh revealed that President Trump didn’t ask him to make any promises on interest rate cuts. He went on to say that most presidents would support interest rate cuts and that it’s up to the Fed to remain independent.
The markets have turned lower as the oil price has crept higher, with the Nasdaq Composite now down 0.08%. Apple is a drag, down 1.8% on the Tim Cook resignation announcement.
The White House has unveiled a $1.5 trillion defense budget for FY 2027, the largest military spending proposal in American history, representing a 44% jump for the Department of Defense. The plan breaks down into $1.15 trillion in discretionary spending, up 28% from last year, and $350 billion in mandatory outlays. On the shipbuilding front, the budget earmarks $65.8 billion to add 18 battle force ships and 16 non-battle force vessels, including a Trump-class battleship and next-generation frigates. Service members are also in line for raises, with E-5 and below getting a 7% bump, E-6 through O-3 receiving 6%, and O-4 and above seeing 5%. Rounding out the priorities: funding for the Golden Dome missile defense system, restocking of 12 critical munitions, and investment in critical minerals supply chains.
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The markets are off to the races this morning, with all three of the major stock market averages seeing green. President Trump has reportedly indicated that a deal between the U.S. and Iran is within reach, and the markets are breathing a sign of relief for now. Tech gains are pushing the Nasdaq Composite higher by 0.35%, with industry leaders like Microsoft (Nasdaq: MSFT) and Amazon (Nasdaq: AMZN) out front for gains. On the oil front, WTI crude has dipped below the $90/barrel threshold and is up fractionally on the day.
Tim Cook is closing the book on one of the most storied runs in corporate history, stepping down as Apple’s (Nasdaq: AAPL) CEO, sending the stock lower by about 1%. The company’s hardware boss, John Ternus, has been tapped as his successor, according to the WSJ. Ternus, who will also join the board, takes the helm on Sept. 1, 2026, while Cook stays on through the summer to shepherd the transition before moving into the executive chairman seat.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 49,734 Up 0.56%
Nasdaq Composite: 24,500 Up 0.40%
S&P 500: 7,129 Up 0.29%
Amazon (Nasdaq: AMZN) is pouring up to $25 billion in AI wonder Anthropic in addition to the $8 billion it previously committed to the company of late. In return, Anthropic promises to direct more than $100 billion to Amazon Web Services (AWS) over the next decade in a vote of confidence. The deal fits into Amazon’s broader AI spending spree, with the e-commerce and cloud giant having already signaled plans to pour roughly $200 billion into capital expenditures this year alone, the bulk of it earmarked for AI infrastructure.
HSBC is making a bold call on Intel (Nasdaq: INTC), upgrading the chipmaker to Buy from Hold and more than doubling its price target to $95 from $50, arguing that the server CPU opportunity is a bigger catalyst than its much-hyped foundry business and that the $95 target is on the core business alone.
OpenAI is enlisting heavy hitters from the consulting world, including Accenture and PwC, to help push its AI coding tool Codex into the enterprise market, according to the WSJ.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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