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White House Unveils Record $1.5 Trillion Defense Budget as Stocks Pull Back on Ceasefire Hopes

The White House unveiled a record $1.5 trillion defense budget proposal for fiscal year 2027, the largest military spending request in U.S. history, citing active munitions depletion from Operation Epic Fury and urgent stockpile replenishment needs. The announcement came as Lockheed Martin, RTX, and Northrop Grumman retreated sharply on April 6 when the Islamabad Accord ceasefire framework emerged, unwinding part of the war-driven premium that had stretched the aerospace and defense sector to 32 times forward earnings.

One Year After Liberation Day — S&P 500 Down 7% YTD but Markets Have Defied the Crash Predictions

Wednesday marked the one-year anniversary of President Trump's April 2, 2025 Liberation Day tariff announcement, and despite a rocky 12 months that saw the Supreme Court strike down IEEPA tariffs and a replacement 15% global baseline imposed, the S&P 500 has not crashed — but it has underperformed dramatically, down 7% year-to-date as global investors reassess American exceptionalism.

U.S. GDP Growth Confirmed at 2.4% for Q4 2025, Beating Initial Estimate

The Bureau of Economic Analysis on Thursday confirmed U.S. GDP expanded at an annualized rate of 2.4% in Q4 2025, topping the advance estimate of 2.3% and reinforcing economic resilience heading into 2026. Upward revisions to consumer spending and nonresidential fixed investment drove the beat, tempering stagflation concerns.

Nvidia Expands Blackwell Ultra GPU Production to Meet Record AI Infrastructure Demand

Nvidia announced a major ramp-up in Blackwell Ultra GPU production, citing record orders from hyperscalers and sovereign AI programs worldwide. The company indicated Q1 2026 data center revenue is on pace to surpass the prior quarter's record, driving renewed momentum across the semiconductor supply chain from TSMC to Micron.

Weekly Jobless Claims Fall to 205,000, Signaling Continued Labor Market Strength

Initial unemployment claims dropped to 205,000 for the week ending March 21, the lowest reading since November 2025 and well below economists' forecasts of 218,000. The data reinforces a robust labor market that has supported consumer spending and corporate earnings even as the Federal Reserve maintains elevated interest rates.

February Durable Goods Orders Miss at -1.8% — Manufacturing Contraction Deepens Recession Watch

Orders for durable manufactured goods fell 1.8 percent in February 2026, worse than the expected 0.5 percent decline, while the critical non-defense capital goods ex-aircraft reading dropped 1.1 percent. The miss adds to a growing body of deteriorating economic data and pushed JPMorgan's U.S. recession probability estimate to 40 percent for 2026.

Super Micro Computer Plunges 28% After DOJ Charges Co-Founder in $2.5 Billion AI Chip Smuggling Scheme to China

Super Micro Computer shares collapsed nearly 28% on Friday after the U.S. Department of Justice unsealed criminal charges against co-founder Yih-Shyan 'Wally' Liaw and two associates for allegedly orchestrating a $2.5 billion scheme to smuggle advanced AI servers packed with Nvidia GPUs to China through Southeast Asian shell companies, in direct violation of U.S. export control laws. The indictment — described by prosecutors as the highest-profile AI technology smuggling crackdown to date — sent shockwaves through the AI hardware supply chain.

Micron Technology Reports Record Q2 Revenue of $23.9B — Nearly Triple Year-Ago Levels — as AI Memory Demand Explodes

Micron Technology delivered the most stunning quarterly earnings report in the memory chip industry's history on Wednesday, posting Q2 fiscal 2026 revenue of $23.9 billion — up 196% year-over-year — and guiding to a further record of $33.5 billion in Q3. The company raised its quarterly dividend by 30%, signed its first five-year strategic customer agreement, and said it is capacity-constrained across both DRAM and NAND, unable to meet the full demand of its AI-driven customer base.

Federal Reserve Holds Rates at 3.50%–3.75%, Flags Sticky Inflation and Iran War Uncertainty; Markets Sell Off on Powell's Hawkish Tone

The Federal Reserve voted 11-1 to keep its benchmark rate unchanged at 3.50%–3.75% on Wednesday, while its updated dot plot showed only one rate cut projected for all of 2026 and Chair Jerome Powell delivered a more hawkish-than-expected press conference that rattled markets. The Dow fell 768 points to its lowest close since November, as investors processed Powell's warning that higher energy prices could reignite inflation and that the Fed had 'not made as much progress on inflation as hoped.'