The Rundown Uber Invests $1.25B in Rivian, Micron Delivers Blowout Earnings
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Mar 19, 2026 Market fallout from a surprise PPI print and Fed comments that dim rate-cut hopes. Uber’s new $1.25B move into Rivian and plans for robotaxis. Micron posts massive revenue and margin beats yet the stock still slips. Oil spikes after regional supply disruptions and fallout for energy markets. Meta pulls the plug on its metaverse project.
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Fed Faces Tradeoff Between Soft Labor Market And Rising Inflation
- The Fed is constrained: labor is softening but rising energy prices are reviving inflation, limiting rate-cut options.
- Jerome Powell said the Fed is in a difficult situation and inflation progress has stalled amid surging oil after Gulf conflict.
Gulf Escalation Is Driving A New Spike In Oil
- Oil supply disruptions from strikes and a closed Strait of Hormuz have pushed Brent crude to $119 a barrel, reviving inflation risk.
- Zaid links attacks on regional energy infrastructure and the Strait of Hormuz closure to persistent higher energy prices.
Micron Showing Nvidia-Level Margins From AI Memory Demand
- Micron posted revenue near $24B, nearly tripling year over year, and gross margins rose to 75%, driven by AI data center memory demand.
- Management said they can meet only about 50–66% of customer demand while guiding to $33.5B next quarter.