U.S.-Iran negotiations, Meta trial verdict, OpenAI shuts Sora and more in Morning Squawk
Summary
Markets rallied after reports that the U.S. and Iran are negotiating, easing geopolitical risk and driving down Treasury yields and oil prices. A New Mexico jury found Meta liable and ordered $375 million in damages for failing to protect children on its apps; Meta plans to appeal. OpenAI said it will shut its short-form video app Sora as it cuts costs while preparing for a possible IPO and reported raising $10 billion in additional funding; Anthropic also went to court seeking to block a Pentagon ban. Other business moves include Merck’s $6.7 billion acquisition of Terns Pharmaceuticals and operational impacts from the partial government shutdown on airlines and airport services.
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