
08/13/2025
The S&P 500 and Nasdaq notched fresh highs as traders bet on the possibility of a 50-basis-point rate cut in September. Treasury Secretary Scott Bessent says rates should be 150–175 bps lower based on economic models.
In tech, AI firm Perplexity offered $34.5 billion for Google’s Chrome browser, well above its estimated $18 billion value. Google is pushing to keep Chrome while awaiting a key antitrust ruling.
Spirit Aviation (FLYY) warned of “substantial doubt” over its ability to stay in business, sending shares down 40 percent. Frontier (ULCC) rallied 29 percent on expectations of reduced competition.
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