Stocks Edge Higher On Earnings Outlook

S&P 500, Nasdaq retreat from records as chip stocks decline (CNBC)

Top economist Mohamed El-Erian breaks ranks with Wall Street and says Powell should resign to preserve Fed independence (CNBC)

Bessent says Powell doesn’t need to resign but should conduct internal review (CNBC)

SoftBank and OpenAI’s $500 Billion AI Project Struggles to Get Off Ground (WSJ)

OpenAI Greatly Expands Data Center Deal With Oracle (The Information)

Wall Street Readies Fresh Push Against Tighter US Capital Rules (Bloomberg)

GM Profit Falls as Trump Tariffs Add $1.1 Billion in Costs (Bloomberg)

Clout wars: Jensen Huang eclipses Elon Musk and Tim Cook in Washington (CNBC)

How China Curbed Its Oil Addiction – and Blunted a U.S. Pressure Point (WSJ)