• Financial attention shifted to the highly anticipated quarterly results release by Nvidia, a bellwether for the artificial intelligence sector, as investors sort through persistent trade and debt issues.

• That came after President Donald Trump’s announcement to take mortgage behemoths Fannie Mae and Freddie Mac public, but controversially promise to maintain implicit government guarantees and regulation, a move that sent their stocks sky-high but raises concerns about risk.

• In broader market trends, demand for Japanese government bonds frustrated, with the price of oil down as a result of supply glut fears and news of Iran-US talks.

• A frustrated Reuters poll, on the other hand, indicates ex-S&P 500 is to close the year near current levels as ex-strategists cut estimates following uncertainty from Trump’s tariffs and the resultant impact on business profits.

• Following on from the AI tale, Telegram CEO Pavel Durov announced a partnership with Elon Musk’s xAI to deploy Grok to Telegram’s billion-plus users, one that involves significant cash and equity for Telegram.

• Finally, a Reuters commentator observes that a sharp dollar depreciation would be necessary to significantly reduce or perhaps even eliminate the US trade deficit, though such declines are uncommon in the past and challenging to forecast in their effects upon trade.