Stock Market Correction, Political Ads on Streaming TV, TikTok's Legal Fight, and More

The stock market is showing signs of a potential correction, according to Ariel Investments' founder John Rogers. He believes that the market is overvalued and due for a pullback. Meanwhile, political ads are surging on streaming TV platforms as candidates target viewers who have shifted away from traditional cable. TikTok is planning a full legal fight if the US divestment bill becomes law, as the company seeks to protect its operations in the country.

KKR has led a $500 million debt deal for HarbourView Music Royalties, providing financing for the acquisition of music rights. ADM, a global food processing company, needs more than a nutrition revamp to recover from an $8 billion loss. The US's Deputy Treasury Secretary, Wally Adeyemo, has criticized South Africa for lacking the will to fix its energy crisis. Trend-chasing quants are making a comeback on Wall Street, with gains reaching 45%. An ex-FBI spy has been charged with spreading false information about Hunter Biden, which also ensnared a bank chief. Democrats have warned the US Trade Bank against backing Bahrain's oil drilling activities. Saudi Arabia has received $13 billion in investment to boost its tourism sector. Spain is concerned about Viktor Orban's involvement in a €600 million rail deal. Republicans are investigating John Podesta's role as Biden's climate diplomat. The rally in AMD's stock looks more fragile compared to Nvidia's, as traders bid up AI-related companies. Shell is planning to cut about 20% of jobs in its deals team as part of cost-saving measures. Oil prices are climbing as an industry report suggests falling US stockpiles

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