Nvidia became the world’s second-most valuable company this week. The chipmaker had a net income of $14.9 billion last quarter and continues to grow from the market’s recent AI-boom. Psychedelic medicine stocks dropped after an FDA advisory panel voted no on MDMA therapy treating PTSD; it appears unlikely that the FDA will approve the treatment. A group backed by BlackRock plans to launch a stock exchange in Texas. The TXSE has raised $120 million and will operate free of NY fees and regulations. The ECB cut interest rates from 4% to 3.75%, but declined to detail its future-rate cutting path. As to when America will see rate cuts, it’s best to look at domestic macro indicators to predict the Fed’s actions. Companies like the Daily Wire are part of a bigger anti-woke trend in business that has seen success in appealing to the right, including. companies like Rumble and Fox.A recent poll found that conservative leaning companies were some of the few brands that have grown recently. However, consumers value product quality over brand politics.
Nvidia surpasses Apple as world’s second-most valuable company (Axios, MB)
Psychedelic medicine stocks fall after FDA advises against MDMA therapy (MW, MB)
Group looks to open new stock exchange in Texas (WSJ, MB)
ECB cuts interest rates for first time in five years (MS, MB)
Emerging economy for conservative anti-woke businesses (MB)
