Bloomberg News Now: Market Wrap, Apple Executive Departure, and Political Developments

Market Performance and Fed Bets

• 📈 Stocks held near all-time highs to close the week, with the S&P 500 little changed, Nasdaq gaining 98 points, and the Dow losing 273 points.
• 📊 The ten-year Treasury yield stood at 4.6%, and the two-year yield at 3.56% as traders locked in Federal Reserve bets.

Key Business and Tech News

• 🚀 Gemini Space Station shares jumped as much as 64% from their IPO price, raising $425 million and reaching a market value of over three and a half billion dollars.
• 💡 Apple senior executive Robbie Walker is leaving, adding to an exodus from the company's AI Division. Walker was in charge of Siri and worked on a new AI-powered web search system.
• 🔍 The Federal Trade Commission is investigating Amazon and Alphabet's Google for potentially misleading advertisers regarding ad terms and pricing.
• 📉 The University of Michigan Consumer Sentiment Survey unexpectedly dropped to 55.4, with consumers anticipating worsening inflation and rising unemployment.
• 💰 Tesla unveiled a new pay package for Elon Musk that could grant him over $1,000,000,000,000 in stock options, a plan the board chair supports.

Political and Legal Developments

• ⚠️ Utah Governor Spencer Cox announced the arrest of Tyler Robinson in connection with the killing of conservative activist Charlie Kirk, with bullet casings found bearing inscriptions.
• 💉 The Trump administration plans to present findings linking child deaths to COVID shots based on unverified reports from the Vaccine Adverse Event reporting system.
• 💼 BlackRock executive Rick Rieder is a contender to be the next Fed chair, having impressed Treasury Secretary Scott Bessant in a recent meeting.
• 🚫 Boeing workers rejected a contract offer, continuing their strike in Saint Louis over insufficient signing bonuses and 401k benefits.
• 🚨 President Trump stated he will send the National Guard to Memphis, Tennessee, to address crime concerns, a move the mayor pushed back against.