To close out the worst quarter for stocks since 2022…stocks had the best one-day session in 10 months. Asian markets rallied strongly overnight, too, and that positive tone is carrying over into the US session today. WTI crude briefly slipped back below $100 a barrel, while gold and silver are mixed and the dollar is falling.
Despite the ongoing conflict in the Middle East – which President Trump is set to address on-air tonight – corporate dealmaking is on fire. Global deal volume surged 20% year-over-year in Q1, with corporate tie ups seen in a wide range of industries.
Source: LSEG via the Wall Street Journal
Moreover, the number of mega-mergers…or takeovers valued at $10 billion or more – hit its highest ever. Twenty-two deals of that size were revealed, up from 13 a year earlier, according to LSEG data. Among private companies, we keep seeing mega-rounds of fundraising, too. OpenAI just raised $122 billion, valuing the ChatGPT maker at $852 billion.
In other news, Oracle Corp. (ORCL) became the latest tech company to swing the axe. The AI and cloud computing giant reportedly laid off thousands of workers this week, though it wouldn’t directly comment on the total involved. The firm employed 162,000 people as of mid-2025. Oracle stock has been under pressure because the company has borrowed heavily to fund AI-related infrastructure spending.
Finally, Nike Inc. (NKE) is tumbling after company officials warned of tougher operating conditions. While the global shoe company reported better-than-expected sales and earnings in the fiscal third quarter, the cautious remarks about Chinese sales and margin pressure from tariffs helped sink Nike stock.
