AI Stock Market News Today

Federal Reserve Chair Jerome Powell confirmed he will stay on the Board of Governors after his chairmanship ends on May 15. Powell also defended the central bank's independence against what he termed 'unprecedented' political attacks.

• Powell retains Governor seat past May 15 Chair expiration
• Continuity linked to headquarters renovation probe

Federal Reserve Chair Jerome Powell has announced his intention to remain on the central bank's Board of Governors after his term as chair concludes in mid-May. The move ensures a degree of continuity in leadership during the transition to a new chair.

• Powell will stay as a Fed governor after his chair term ends in mid-May
• The duration of his remaining tenure is currently undetermined

Elon Musk's SpaceX has reportedly filed for an IPO, targeting a valuation that could place it among the world's ten most valuable companies. Despite strong revenue growth and high margins, analysts warn that the steep entry price may limit upside for retail investors.

• Reported IPO filing for SpaceX
• Target valuation of $1.75T to $2T

Major travel and hospitality firms report conflicting outlooks on consumer demand. Rising fuel prices linked to the conflict in Iran are creating significant headwinds for the industry.

• JetBlue, Booking, and Hilton provide conflicting demand updates
• Fuel price spikes attributed to the Iran War

Universal Music Group saw revenue hold steady at 2.90 billion euros for the first quarter of 2026. However, the company faced a decline in EBITDA and adjusted margins due to rising operational costs.

• Revenue flat at 2.90 billion euros
• EBITDA dropped to 571 million euros

The Federal Reserve opted to keep interest rates unchanged during Chairman Jerome Powell's final meeting. Markets now anticipate a period of stability with no rate cuts expected for the remainder of the year.

• Fed keeps benchmark rates unchanged
• Jerome Powell concludes tenure as Chair

Bob Michele of JPMorgan Asset Management argues that the Federal Reserve must shift toward a symmetrical policy posture to effectively manage economic risks. Such a move would balance the central bank's response to both inflation and recessionary pressures.

• Bob Michele advocates for a symmetrical Fed reaction function
• Call for balanced response to inflation and growth risks

A massive disruption in oil and LNG supplies due to conflict in the Middle East is forcing global economies to tap emergency reserves and pivot toward alternative energy. The shift may lead to permanent demand destruction for fossil fuels as Asia accelerates its transition to coal, nuclear, and renewables.

• 1 billion barrels of oil supply lost since conflict began
• 20% of global LNG trade disrupted by Strait of Hormuz closure

Former Goldman Sachs executive Oliver Harris takes the helm of JPMorgan's blockchain efforts. Harris advocates for a systemic overhaul of financial settlement rather than relying on tokenization alone for liquidity.

• Harris emphasizes that tokenization does not equal liquidity
• Focus on building a global settlement layer for money and data

Eli Lilly and Sun Pharmaceutical Industries have announced strategic acquisitions to expand their therapeutic portfolios. The moves highlight a broader trend of consolidation within the global healthcare sector.

• Eli Lilly acquires Ajax Therapeutics for up to $2.3 billion in cash
• Sun Pharma agrees to acquire NY-listed women's health firm Organon

Bob Michele of JPMorgan Asset Management suggests the Federal Reserve may maintain current interest rates through the end of the year. The outlook is driven by persistent inflation risks linked to ongoing conflict in Iran.

• JPMorgan's Bob Michele predicts Fed rates will remain on hold through 2026
• Inflation risks are primarily tied to the conflict in Iran

The Federal Reserve held interest rates steady at 3.5%-3.75% but revealed a deep divide, marking the highest level of dissent since 1992. Policymakers are split over whether to signal future rate cuts as inflation remains elevated.

• Benchmark rate held at 3.5%-3.75%
• Historic 8-4 vote split, first since 1992