Be in the know. 17 key reads for Thursday…

  1. QXO Offers to Buy Building Materials Firm GMS for $5 Billion (bloomberg)
  2. William Blair initiates QXO stock with outperform on acquisition strategy (investing)
  3. Mortgage Rates in US Fall for a Third Week, Slipping to 6.81% (bloomberg)
  4. Stablecoins’ market cap surges to record high as US senate passes bill (reuters)
  5. Stablecoin Legislation Will Juice Demand for Treasurys—to a Point (wsj)
  6. Foreign Treasuries Holdings Held Near a Record in April Turmoil (bloomberg)
  7. Fed Officials Hold Rates Again, Still See Two Cuts by Year End (bloomberg)
  8. Can the US power grid keep up with the AI data centre boom? (ft)
  9. Millions of Americans Brace for Heat Wave and Extreme Humidity (wsj)
  10. Alibaba Cloud to open second data centre in South Korea as AI demand rises (scmp)
  11. China’s 618 shopping fest sets record, but daily spending slips (reuters)
  12. China Eases Doubts on Consumer Subsidies With Funding Assurance (bloomberg)
  13. How Chinese Carmakers Doubled Their Share of the European Market (nytimes)
  14. Oaktree co-founder Howard Marks calls on China to open up to foreign investors (ft)
  15. More on Repealing the Laws of Economics (oaktree)
  16. Intel Brings in New Engineering Leaders to Help AI Comeback (bloomberg)
  17. 20 companies in the S&P 500 whose investors have gained the greatest rewards from stock buybacks (marketwatch)