Markets Nervous Before Fed Chairman's Speech

The world’s largest tennis tournament is set to commence on Monday, featuring a staggering $75 million in prize money. Defending champions Coco Gauff and Novak Djokovic will aim to retain their titles amidst fierce competition. As the tournament unfolds, the spotlight will not only be on the matches but also on the financial stakes involved for the players. In the business realm, former billionaire Ryan Breslow has made headlines with his ambitious plan to raise $450 million for his payment startup, Bolt, which is valued at $14 billion. Meanwhile, the stock market has seen a shift as traders move away from riskier equities ahead of Federal Reserve Chair Jerome Powell’s anticipated speech, which may signal a less dovish stance than investors hope for. In the tech sector, AI startup Cursor, founded by four MIT alumni, has successfully raised $60 million in Series A funding, bringing its valuation to $400 million. The company provides code completion tools that have attracted a diverse clientele, including major players like OpenAI and Shopify, highlighting the growing demand for AI-driven solutions in software development. On the financial front of tennis, Novak Djokovic has maintained his position as the highest-paid player, but 21-year-old Carlos Alcaraz has surged ahead with an estimated $42.3 million in earnings over the past year. With four Grand Slam titles under his belt before turning 22, Alcaraz is poised to become a dominant force in the sport, both on and off the court.