IP-Oh Boy. Smart ring maker and health intelligence platform Oura postponed its IPO suddenly on Tuesday due to market uncertainty-that's not good for the blood pressure.
But another IPO comes with an even bigger health warning. Anthropic's prospectus outlines the "existential risks to humanity" from its technology. In less alarming news, the AI giant is seeking a valuation of $2 trillion, Reuters reported.
At the same time OpenAI has scrapped its latest model due to safety concerns ahead of its hotly-anticipated developers conference. Fortunately, when tech stocks don't know which way to turn, they typically move higher.
Nvidia investors know exactly where the shares are headed, though-closer to a record high.
All things considered, it's a calm start to the day. But don't be fooled by falling Treasury yields and rising tech stocks. The bond selloff and AI safety fears are still two huge problems for the stock market.
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📈 Here's what's happening in markets today:
Stocks are headed for a higher open, but oil prices and bond yields stay elevated.
AMD, Nvidia, Navitas, Summit Therapeutics, and more stocks that explain today's market.
What this ETF can tell us about Anthropic's IPO plan.
Meta stock is at a crossroads. Why today is a big day.
Nvidia's next win may prove better for the stock than its buybacks.
CarMax beats earnings estimates as revenue jumps 20%.
AI stocks shouldn't be rising after OpenAI safety scare. But they are.
SpaceX stock rises on bullish rating and Starship reviews.
Navitas was a hot AI stock until its slump. Why it's surging now.
Fair Isaac tumbles as FHFA's Pulte moves to simplify mortgage pricing.
?? Smart ring maker Oura halts IPO over 'market uncertainty'
Oura has suspended its plans to go public, despite strong demand, citing "uncertainty" in the market. "We aim to deliver an extraordinary IPO for our employees and investors and we have the luxury of choosing our moment. In the meantime, we will execute against the opportunities ahead," said CEO Tom Hale.
🤖 OpenAI cancels latest model release ahead of its developer's day
OpenAI scrapped the release of its most advanced artificial intelligence model due to safety concerns. Its GPT-6.1 Astra was initially slated to be announced in the coming days or weeks. It is highly expected that CEO Sam Altman will address cybersecurity concerns in his keynote speech at the company's annual developer conference, which kicks off today at 1 p.m. Eastern time.
🐻 Stocks are in a stealth bear market despite S&P 500
The S&P 500 has gained 3.8% since reaching its midsummer trough on July 29, with a record high on Aug. 18. But the gains have come almost entirely from a handful of names. The index's other players are fighting a 10-year yield that just won't stop climbing, a hawkish Fed, and $100-a-barrel crude.
📈 Nvidia takes a page out of Apple's share buyback playbook
Nvidia is taking a page out of Apple's playbook, with the biggest stock buyback to date at $235 billion. That leapfrogs it past Apple's previous record repurchase plan of $110 billion from two years ago. Nvidia's plan could soothe anxiety over its heavy spending to fuel the AI industry.
🏈 FBI turns to NFL players in broadening e-commerce case
A federal probe into an alleged fraud affecting NFL players has broadened, with the Federal Bureau of Investigation asking for information from athletes leaguewide. The bureau wants details about investments with Mohamed Coulibaly, the deceased founder of an e-commerce business that targeted professional athletes. Read here.
🔩 New steel plant could signal manufacturing renaissance
A massive new steel plant might signal a renaissance in American manufacturing. Mesabi Metallics, alongside President Donald Trump in the Oval Office, announced plans to build an $18 billion fully integrated steelmaking facility in the U.S. Read here for why that's making investors in steel producers like Nucor nervous.
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?? Skiers are skipping the slopes, and Vail Resorts is feeling it
Vail Resorts' latest earnings report is signaling another tough winter ahead. The company, whose destinations portfolio includes Vail Mountain, Breckenridge, and Park City Mountain, reported that pass sales through Sept. 18 for the upcoming North American ski season dropped 12%. Read more about it here.
💬 Quote of the day:
Other headlines moving markets:
Why the midterm elections matter for the stock market this year.
Jefferies beats earnings expectations with record revenue.
AMD to buy AI company World Labs for $8.2 billion.
Inside an alleged $1.2B Ponzi scheme that left investors holding crashed stock.
Will this software glitch delay Boeing's turnaround?
SpaceX's Starship reached orbit for the first time.
Why the Meta Muse rally is already cooling off.
Why Tesla's stock is tied to SpaceX ahead of a big week.
Apollo's Slok warns of agentic AI bank run.
The 3 economic reports investors should be tracking.
Oil moves on report Saudi Arabia has resumed pipeline operations.
Inside Kodiak's eye-drug breakthrough and what it means for the stock.
Chipotle is bringing back an old menu favorite.
IonQ is building the infrastructure for quantum computing.
Berkshire buys Lennar stock. Its Clayton Homes unit could be worth $25 billion.
-Edited by Liz Moyer, Stacy Ozol, and Rupert Steiner