{"id":51944,"date":"2025-08-13T15:38:45","date_gmt":"2025-08-13T19:38:45","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-movers-perplexitys-soaring-valuation-oil-slips-on-glut-fears-and-fed-rate-cut-expectations-solidify\/51944\/"},"modified":"2025-08-13T15:38:45","modified_gmt":"2025-08-13T19:38:45","slug":"market-movers-perplexitys-soaring-valuation-oil-slips-on-glut-fears-and-fed-rate-cut-expectations-solidify","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-movers-perplexitys-soaring-valuation-oil-slips-on-glut-fears-and-fed-rate-cut-expectations-solidify\/51944\/","title":{"rendered":"Market Movers: Perplexity&#8217;s Soaring Valuation, Oil Slips on Glut Fears, and Fed Rate Cut Expectations Solidify"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-movers-perplexitys-soaring-valuation-oil-slips-on-glut-fears-and-fed-rate-cut-expectations-solidify\/51944\/#Key_Takeaways\" >Key Takeaways<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-movers-perplexitys-soaring-valuation-oil-slips-on-glut-fears-and-fed-rate-cut-expectations-solidify\/51944\/#AI_Sector_Heats_Up_with_Perplexitys_Ambitious_Moves\" >AI Sector Heats Up with Perplexity&#39;s Ambitious Moves<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-movers-perplexitys-soaring-valuation-oil-slips-on-glut-fears-and-fed-rate-cut-expectations-solidify\/51944\/#Oil_Prices_Under_Pressure_Amid_Supply_Glut_Warnings\" >Oil Prices Under Pressure Amid Supply Glut Warnings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-movers-perplexitys-soaring-valuation-oil-slips-on-glut-fears-and-fed-rate-cut-expectations-solidify\/51944\/#Fed_Rate_Cut_Expectations_Firm_Up_for_September\" >Fed Rate Cut Expectations Firm Up for September<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-movers-perplexitys-soaring-valuation-oil-slips-on-glut-fears-and-fed-rate-cut-expectations-solidify\/51944\/#Treasury_Secretary_Bessent_Addresses_Ethics_Concerns\" >Treasury Secretary Bessent Addresses Ethics Concerns<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-movers-perplexitys-soaring-valuation-oil-slips-on-glut-fears-and-fed-rate-cut-expectations-solidify\/51944\/#US_Approves_346M_Arms_Sale_to_Nigeria\" >US Approves $346M Arms Sale to Nigeria<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>AI startup Perplexity<\/strong> is reportedly seeking new funding at a remarkable <strong>$20 billion valuation<\/strong>, underscoring strong investor interest in the artificial intelligence sector. The company has also made an unsolicited <strong>$34.5 billion<\/strong> offer to acquire <strong>Google&#39;s (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>, <a href=\"\/stock\/GOOG\">GOOG<\/a>) Chrome<\/strong> browser, positioning itself strategically amid ongoing antitrust scrutiny against the tech giant.<\/li>\n<li><strong>Oil prices<\/strong> have fallen <strong>below $63 a barrel<\/strong>, influenced by a significant jump in <strong>US crude inventories<\/strong> and a stark warning from the <strong>International Energy Agency (IEA)<\/strong> of a potential record global supply glut in the coming year.<\/li>\n<li><strong>Traders<\/strong> are now fully pricing in a <strong>25 basis point (bps)<\/strong> interest rate cut by the <strong>Federal Reserve<\/strong> in <strong>September<\/strong>, reflecting a clear market expectation for a dovish shift in monetary policy.<\/li>\n<li><strong>Scott Bessent<\/strong>, the current <strong>Treasury Secretary<\/strong>, has stated he has divested <strong>90% of his assets<\/strong> as required, with only <strong>4%<\/strong> of mandated divestitures remaining, following earlier warnings from the <strong>US Ethics Agency<\/strong> regarding potential conflicts of interest.<\/li>\n<li>The <strong>Pentagon<\/strong> has approved a <strong>$346 million<\/strong> sale of munitions, precision bombs, and rockets to <strong>Nigeria<\/strong>, signaling continued defense cooperation.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"AI_Sector_Heats_Up_with_Perplexitys_Ambitious_Moves\"><\/span>AI Sector Heats Up with Perplexity&#39;s Ambitious Moves<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The artificial intelligence landscape continues to draw significant investor attention, with <strong>AI startup Perplexity<\/strong> reportedly aiming to raise new funds at an astounding <strong>$20 billion valuation<\/strong>. This development highlights the robust capital flowing into companies at the forefront of AI innovation. Further demonstrating its aggressive expansion strategy, Perplexity has put forth an unsolicited <strong>$34.5 billion<\/strong> offer to acquire <strong>Google&#39;s (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>, <a href=\"\/stock\/GOOG\">GOOG<\/a>) Chrome<\/strong> browser. This audacious bid comes as <strong>Google<\/strong> faces antitrust lawsuits concerning its dominance in web search, with Perplexity positioning the acquisition as a solution to potential antitrust remedies.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Oil_Prices_Under_Pressure_Amid_Supply_Glut_Warnings\"><\/span>Oil Prices Under Pressure Amid Supply Glut Warnings<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Global oil markets experienced a downturn, with prices slipping <strong>below $63 a barrel<\/strong>. This decline is largely attributed to a notable increase in <strong>US crude inventories<\/strong>, which have reached a two-month high. Compounding the bearish sentiment, the <strong>International Energy Agency (IEA)<\/strong> has issued a warning about a potential record global supply glut anticipated for next year. The IEA forecasts oil inventories could rise by <strong>2.96 million barrels per day in 2026<\/strong>, surpassing even the levels seen during the 2020 pandemic. The <em>bearish signals<\/em> are also emerging as traders await the upcoming <strong><a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>-Putin meeting in Alaska<\/strong>, which could influence sanctions on Russia and global energy dynamics.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Fed_Rate_Cut_Expectations_Firm_Up_for_September\"><\/span>Fed Rate Cut Expectations Firm Up for September<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Market participants are now overwhelmingly anticipating a <strong>25 basis point (bps)<\/strong> interest rate cut by the <strong>Federal Reserve<\/strong> in <strong>September<\/strong>. This expectation has been solidified by recent economic data, with futures markets reflecting a high probability of such a move. The <em>strong market conviction<\/em> suggests that traders believe the central bank is poised to restart its monetary policy easing cycle next month, influenced by factors such as recent weakness in the job market.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Treasury_Secretary_Bessent_Addresses_Ethics_Concerns\"><\/span>Treasury Secretary Bessent Addresses Ethics Concerns<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Treasury Secretary Scott Bessent<\/strong> has provided an update on his asset divestment process, stating that he has now divested <strong>90% of his required assets<\/strong>. He indicated that only <strong>4%<\/strong> of the mandated divestitures remain. This progress follows earlier warnings from the <strong>US Ethics Agency<\/strong> regarding potential conflicts of interest that arose from his financial holdings. Bessent, a former hedge fund manager, had pledged to divest from numerous funds and investments to avoid conflicts upon his confirmation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"US_Approves_346M_Arms_Sale_to_Nigeria\"><\/span>US Approves $346M Arms Sale to Nigeria<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In a significant defense development, the <strong>Pentagon<\/strong> has officially approved a <strong>$346 million<\/strong> sale of munitions, precision bombs, and rockets to <strong>Nigeria<\/strong>. This approval underscores ongoing military and security cooperation between the United States and the West African nation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways AI startup Perplexity is reportedly seeking new funding at a remarkable $20 billion valuation, underscoring strong investor interest [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[5012],"tags":[5230,80,5551,356,5857,1947,6048,3703,6172,3710,8758,3768,8759,4222,4945,5030],"class_list":["post-51944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","tag-defense","tag-goog","tag-iea","tag-nyt","tag-perplexity","tag-oil","tag-pentagon","tag-ai","tag-valuation","tag-federal-reserve","tag-ethics","tag-googl","tag-nigeria","tag-interest-rates","tag-monetary-policy","tag-energy"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/51944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=51944"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/51944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50383"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=51944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=51944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=51944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}