Bloomberg Money Minute: FDA Vaccine Update, M&A Boom, Nvidia Earnings, and Exxon's Russia Talks

FDA Approves Updated COVID Vaccine

• 💉 FDA regulators have approved updated versions of a COVID vaccine.
• ⚠️ Approval is limited to a smaller group: individuals age 65 and older or those with underlying health conditions.

Mergers and Acquisitions Surge

• 📈 It has been a blowout summer for mergers and acquisitions.
• 💰 Companies have announced over $1 trillion in corporate deals since June.
• 🚆 This includes Union Pacific Railroad's $80 billion agreement to acquire Norfolk Southern.

Market Performance and Nvidia Earnings

• 📊 Stocks are higher this hour, with modest movement ahead of after-hours earnings.
• 💻 Nvidia, the world's most valuable company, is set to release earnings, serving as a proxy for AI demand.
• 📈 The Dow, Nasdaq, and S&P are all up approximately a quarter percent.

ExxonMobil's Secret Talks with Russia

• 🤝 ExxonMobil has held secret talks with Russia's largest state-owned energy company.
• ⛽ The discussions aim to restart a joint energy project that was halted after Russia's invasion of Ukraine in 2022.