Good morning. Bill Gates says that AI arrives for a multitude of jobs, two of which were in the past resistant to technology: teachers and doctors. What we have for us, humans? “Take up early,” said Gates.
In today’s big history, Wall Street’s Deawers thought Trump was the answer. NOW, They are not so sure.
What’s on deck
Markets: Why do I want to work on Wall Street: The students explain.
Technology: Openai is recruiting, and An investment area stands out.
Business: Real estate agents and zillow go to war, but Home buyers will pay the price.
But first, Wall Street has doubts.
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The great story
They thought Trump was the answer
Timothy A. Clary / Getty Images
“I don’t know how you couldn’t be embarrassed,” A director general of an investment bank focused on the intermediary told Bi.
They talked about the many hairstyles in Wall Street C plans which had bet that the new administration would revive a market for comatous realization. Things did not really work this way.
Goldman Sachs said the paralyzed transaction market The income drawn by the agreement fell by 22% In the first quarter, compared to the same period of last year.
During the first quarter of each bank’s winning calls in recent days, a person is looming: President Donald Trump.
No CEO mentioned it by name. Instead, they talked about uncertainty, worried customers and economic prospects, Bi’s Reed Alexander writes.
“Although our business and consumption customers are resilient and in good financial health, the world is in waiting mode and is faced with more negative macro prospects than anyone who had planned it at the beginning of the year,” said Jane Fraser, CEO of Citigroup.
Behind the scenes, The bankers told Bi that they felt less diplomatic about the Trump administration And its pricing policies: “If you are a framework in finance and you speak frequently to customers and that you understand how the world works, there is no way that you cannot be upset.”
A more complete image of the way Trump has an impact on Wall Street may not emerge before the next winning season later this summer. Many of the worst days of recent volatility occurred in April – the second quarter.
That the White House cares is another matter.
3 things on the markets
Jakub Porzycki / Nurphoto
1. Netflix: Sell-Off, Who? Netflix shares climbed more than 10% in 2025, outclassing its technical mega-captain peers and a wider market in difficulty. Some analysts consider that the action is resistant to recession.
2. Bring it, Wall Street. A career path in finance can be notoriously brutal, but young people kiss him anyway. More than 150 Wall Street students told Bi their hopes, their fears and their reserves on Launch of careers in industry.
3. Should investors start again at risk or remain defensive? President Trump recently referred to a potential exemption for the automotive industry. This is not the first time He returned to pricesAnd some investors wonder if they should stop taking its remaining pricing threats seriously.
3 things in technology
Tomohiro Ohsumi / Getty Images
1. Openai hiring spree. AI startups looking for new talents While it increases its infrastructure ambitions. Dozens of open roles related to AI infrastructure are listed on its website.
2. Zuck still seems salty about a failed agreement from 12 years ago. The Snapchat offer, failed by Mark Zuckerberg, of 2013, resurfaced to the Meta antitrust test, and it does not seem to be above. He declared that the meta of the court would have accelerated the growth of Snap if the agreement was concluded, Fwiw.
3. The alphabet supply chain project is solo. Chorus, the betting alphabet on the optimization of the global supply chain, becomes an independent company, His CEO told Bi. After several years under the X alphabet incubator, companies believe that rotation will help Chorus to move more quickly.
3 things in business
Getty Images; Ava horton / bi
1. Real estate agents and Zillow go to war. Last week, Zillow unveiled a new rule that would prohibit the lists of houses which are initially selectively marketed with the public. This decision directly targets giant real estate brokerage houses – and it is linked To start a ugly fight.
2. This application wants to pay you to shop. No, it’s not a scam. The complaint gives users money to buy partner companies every week. His CEO told Bi that he wanted him to disturb the advertising sector and helps fight the young people’s loneliness. Here’s how it works.
3. fewer planes in the sky. United Airlines announced that it was Cut interior flights 4% from July, citing less travel request. The company said that it was “impossible to predict this year with a degree of confidence”.
In other news
What’s going on today
- The World Trade Organization publishes prospects and statistics on world trade.
- Jerome Powell talks to the Chicago Economic Club.
Today’s initiate team: Dan Defrancesco, editor -in -chief and anchor, in New York (on parental leave). Hallam Bullock, editor -in -chief, in London. Grace Lett, publisher, in Chicago. Amanda Yen, assistant editor, in New York. Lisa Ryan, editor -in -chief, in New York. Meghan Morris, head of the assistant office, in Singapore. Ella Hopkins, assistant editor, in London. Elizabeth Casolo, stock market, in Chicago.