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Asian Stocks Set to Fall as Global Rally Stalls: Markets Wrap

Asian stocks were set to slip Thursday, tracking losses on Wall Street as signs of fatigue crept into the AI-fueled equity rally.

By Richard Henderson

Bessent Halts Argentina Crisis as US Lifeline Upends Short Bets

Speculators seeking to profit from the selloffs racing through Argentina’s markets were stopped dead in their tracks by a powerful investor willing to take the opposite side of the trade: The US government.

Intel Is Said to Seek Investment From Apple in Comeback Bid

Intel Corp. has approached Apple Inc. about securing an investment in the ailing chipmaker, according to people familiar with the matter, part of efforts to bolster a business that’s now partially owned by the US government.

China ‘National Team’ Fund Makes $50 Billion From Stock Rescue

A unit of China’s sovereign wealth fund has reaped paper gains of more than $50 billion buying local exchange-traded funds, highlighting the scale of government support for the country’s stock market, according to Bloomberg Intelligence.

US Readies $20 Billion Rescue to Help Milei Win in Argentina

The US plans to extend a $20 billion swap line to Argentina and is ready to buy the country’s foreign bonds, providing much-needed financial support to President Javier Milei as he tries to regain investor confidence and stem a run on the peso.

Best Buy Lays Off Geek Squad Team Members in Latest Job Cuts

Best Buy Co. has been making job cuts across the company, including reductions to its Geek Squad team.

Argentine Central Bank Slashes Repo Rate Amid Peso Rally

Argentina’s central bank cut its one-day peso repo rate by 10 percentage points to 25%, according to two people with direct knowledge of the matter, temporarily stalling a rebound in the currency.

Wall Street Says ‘Timeout Called’ as Rally Wanes: Markets Wrap

Wall Street’s torrid surge from April’s meltdown is showing signs of exhaustion as stock traders await fresh catalysts amid risks stemming from a labor-market slowdown to sticky inflation.

Nexstar Says It Continues to Evaluate Status of Kimmel Show

Nexstar Media Group Inc., one of the largest owners of ABC TV stations, said it is engaged in “productive discussions” with Walt Disney Co. about the Jimmy Kimmel Live! program.

Oracle Raises $18 Billion in Second-Biggest Bond Sale This Year

Oracle Corp. sold $18 billion US investment-grade bonds on Wednesday, the market’s second-largest deal this year, as the software maker ramps up its spending to meet the needs of the artificial intelligence boom.