Musk’s xAI in advanced talks to raise $15 billion at $230 billion valuation, WSJ reports

The UK is preparing for a high-stakes budget that is expected to impact its financial markets significantly. This budget comes amid ongoing economic challenges and is anticipated to include measures aimed at stimulating growth and addressing inflation concerns. Investors are closely watching the government's fiscal strategies as they could influence market stability and economic recovery in the UK.

Australia's stock market closed lower, with the S&P/ASX 200 index declining by 0.25%. This downturn reflects a broader negative sentiment in global markets, influenced by concerns over economic stability and potential interest rate cuts. Investor apprehension has been heightened by recent selloffs in other markets, indicating a cautious outlook among traders.

Japan is facing economic repercussions due to China's travel boycott amid escalating diplomatic tensions. The boycott has raised concerns about its impact on Japan's tourism sector and broader economic stability. As tensions rise, Japan's markets are showing signs of instability, reflecting investor apprehension about future economic conditions.

China has announced a suspension of imports of Japanese seafood amid escalating diplomatic tensions between the two countries. This decision reflects ongoing disputes and has raised concerns about the economic implications for Japan's seafood industry. The move comes as both nations navigate complex geopolitical issues, impacting trade relations significantly.

Oil prices have dipped due to concerns over oversupply in the market, although sanctions have limited the extent of the decline. The negative sentiment among investors reflects fears of an imbalance between supply and demand, exacerbated by rising crude stock levels reported by the American Petroleum Institute. This situation raises questions about future price stability and market dynamics as global economic conditions remain uncertain.

Star Entertainment in Australia has failed to meet its performance hurdles for the seventh consecutive year, indicating ongoing challenges for the company. This continued underperformance raises concerns about its operational strategies and market competitiveness. The negative sentiment surrounding Star Entertainment reflects broader issues within the Australian gaming and entertainment sector.

Asian markets are showing signs of instability as investors await Nvidia's upcoming earnings report. The anticipation surrounding Nvidia's performance is significant, given its crucial role in the technology and AI sectors. Market participants are particularly cautious due to recent trends indicating volatility in tech stocks, which could be influenced by Nvidia's results.

Nuvalent has announced a public offering of $500 million, pricing its shares at $101 each. This move is part of the company's strategy to raise capital for its growth initiatives and enhance its financial position in the market. The offering reflects Nuvalent's ongoing efforts to attract new investors and expand its operations.