Uber is reportedly in advanced discussions to acquire Delivery Hero, potentially marking a massive consolidation in the global food delivery sector. This move would significantly expand Uber's footprint in Asia and Europe, creating substantial integration and regulatory hurdles.

A surprisingly cool CPI print has materially reduced odds of another Fed rate hike, with markets recalibrating rate expectations in real time. The setup favors rate-sensitive assets but the Warsh Fed chair speculation adds a policy-path wildcard that could cut either way.