Keyword → PMI

Alphabet (GOOG) Drops 7%, Loses $269B in Market Cap — Gemini Co-Lead Defects to OpenAI, Nobel Laureate Exits to Anthropic

Alphabet shed approximately $269 billion in market capitalization Monday — its largest single-day dollar loss on record — after Gemini co-lead Noam Shazeer announced a departure to OpenAI and Nobel Prize-winning DeepMind VP John Jumper disclosed his move to Anthropic, both within days of each other. The dual exodus raises pointed questions about Alphabet's ability to generate competitive AI returns on its $180 billion to $190 billion 2026 capital expenditure plan.

Fed Seen Holding Rates Steady in March as Iran War Stokes Inflation Fears and Complicates Policy Path

The CME FedWatch Tool shows a 97.3% probability that the Federal Reserve will leave interest rates unchanged at its upcoming March meeting, as surging oil prices from the U.S.-Iran conflict introduce a new inflationary wrinkle into an already complex monetary policy calculus. Markets are now watching the ISM Services PMI report due Tuesday for real-time signals on domestic economic health.

ISM Manufacturing PMI Holds at 52.4% in February, But Input Price Surge Raises Fed Rate-Cut Doubts

The Institute for Supply Management reported that U.S. manufacturing activity expanded for the second consecutive month in February, with the PMI reading at 52.4 percent, but the report's input prices sub-index soared at its fastest pace since 2022, reinforcing investor concerns that renewed inflationary pressures — now compounded by surging oil prices from the Iran conflict — could lead the Federal Reserve to delay or abandon interest rate cuts in the months ahead.

U.S. Business Activity Growth Slows Significantly in February, Signals Economic Softening

New data from S&P Global shows that U.S. business activity expanded at the slowest pace in nearly a year in February, reflecting reduced manufacturing orders and slower services growth. While the economy remains in expansion territory, the slowdown could weigh on sentiment and corporate investment plans if the trend persists, particularly in cyclical sectors tied to industrial production and hiring.