The Trump administration is turning to automakers and U.S. manufacturers to ramp up weapons production in a World War II-style push, a Pentagon official confirmed to FOX Business.

“The Department of War is committed to rapidly expanding the defense industrial base by leveraging all available commercial solutions and technologies to ensure our warfighters maintain a decisive advantage,” a Pentagon Official told FOX Business.

“The Department is aggressively pursuing and integrating the best of American innovation, wherever it resides, to deliver production at scale and drive resiliency across supply chains,” the official added.

Senior defense officials have discussed producing weapons and other military supplies with top executives from several companies, including General Motors and Ford Motor, according to The Wall Street Journal, which cited people familiar with the discussions.

BESSENT WARNS GAS STATIONS THAT TREASURY DEPT WILL KEEP THEM ‘HONEST’ AFTER SPIKE IN PRICES

The outlet reported that the Pentagon is considering having the companies use their personnel and factory capacity to ramp up production of munitions and other war materials as conflicts in Ukraine and Iran continue.

GE Aerospace and vehicle and machinery maker Oshkosh also reportedly held talks with defense officials, according to The Journal.

The discussions began prior to the conflict in Iran more than a month ago, officials told the outlet.

TRUMP SAYS IRAN WAR IS ‘VERY CLOSE TO BEING OVER’ AS PEACE TALKS ARE EXPECTED TO RESUME

The talks come as the military seeks to increase production of munitions and tactical hardware, including missiles and counter-drone technology, the report said.

Defense officials said accelerating weapons production is being treated as a matter of national security, according to the report.

Officials also asked companies to identify barriers to taking on additional defense work, including contracting requirements and challenges with the bidding process.

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The Pentagon’s recent budget request of $1.5 trillion includes funding for munitions and drone manufacturing.

FOX Business has reached out to General Motors, Oshkosh and GE Aerospace for comment. Ford Motor declined to comment.

SYDNEY — The S&P/ASX 200 index closed at 8,955.0 on Thursday, shedding 23.7 points or 0.26 percent, as lingering concerns over Middle East oil supply risks and softness in the big four banks offset gains in technology and healthcare stocks.

The benchmark Australian share index opened near 8,978 and traded in a relatively narrow range before drifting lower in afternoon trade. Volume remained solid at around 690 million shares, with 118 stocks advancing, 74 declining and eight unchanged across the broader market. The All Ordinaries index mirrored the modest retreat, finishing down a similar percentage.

Thursday’s dip came after the ASX 200 notched its highest close since early March on Wednesday, when it edged up 0.1 percent to 8,978.70 on hopes of de-escalation in the US-Iran conflict. Renewed uncertainty over the durability of any ceasefire in the Strait of Hormuz region pushed oil prices higher again, pressuring energy-exposed sectors while lifting some defensive plays.

Financial stocks, which make up the largest weighting in the index, acted as a drag. The big four banks — Commonwealth Bank, Westpac, ANZ and National Australia Bank — traded mixed to lower amid concerns over potential interest rate volatility and softening consumer sentiment. Westpac-Melbourne Institute consumer sentiment plunged 12.5 percent in April to 80.1, its sharpest monthly drop since the COVID-19 pandemic, as households grappled with elevated fuel costs and geopolitical jitters.

Materials and energy stocks showed resilience in parts of the session but ultimately gave back early gains. Iron ore and gold miners found some support from commodity prices, yet broader resources names faced headwinds from a stronger Australian dollar, which climbed to around 71.4 US cents. Oil prices hovered near recent highs, with Brent crude trading around US$94-95 per barrel after volatile swings tied to shipping disruptions and ceasefire developments.

Technology stocks provided a bright spot, continuing a recent rebound as investors rotated toward growth names less exposed to cyclical pressures. Software and semiconductor-related plays benefited from positive sentiment spilling over from Wall Street, where the Nasdaq posted solid gains overnight.

Healthcare and consumer staples also outperformed, acting as traditional safe havens during periods of uncertainty. Telstra and other communication services names held steady, while real estate stocks were little changed despite rising bond yields in some global markets.

Economists noted that persistent oil price volatility remains a key risk for the Australian economy. Higher fuel costs flow through to transport, logistics and household budgets, potentially weighing on discretionary spending. The Reserve Bank of Australia continues to monitor inflation risks, with markets pricing in only modest easing later in 2026 despite earlier expectations of more aggressive cuts.

Broader market context shows the ASX 200 remains roughly 2.7 percent below its February 2026 record high near 9,203 and about 13-14 percent higher than levels seen a year earlier. Year-to-date performance has been respectable but choppy, driven by alternating waves of geopolitical tension and relief rallies.

Analysts at major banks offered mixed outlooks heading into the final trading sessions of the week. Some pointed to resilient corporate earnings and a still-solid jobs market as reasons for cautious optimism, while others warned that prolonged oil supply concerns could cap upside and pressure margins in energy-intensive sectors.

Commodity prices presented a mixed picture. Iron ore held relatively firm on Chinese demand signals, while gold prices softened modestly as the US dollar stabilized. Lithium and other battery metals remained under pressure amid global oversupply concerns, hitting shares of several resources names.

Corporate news flow added some color to the session. Several ASX-listed companies released quarterly updates or trading guidance, with mixed reactions from investors. Mining services firms and retailers highlighted the dual impacts of cost pressures and selective consumer strength in essentials versus discretionary categories.

Looking ahead, investors will watch upcoming domestic data releases, including inflation figures and employment numbers, as well as any further developments out of the Middle East. Global cues from Wall Street and Asian markets will also influence sentiment, particularly as traders assess the balance between growth risks and potential rate-cut tailwinds.

The Australian dollar’s movement against the greenback remains a focal point for exporters and importers alike. A firmer AUD can weigh on multinational earnings when translated back to local currency, while providing some relief on imported inflation.

For retail investors, Thursday’s modest decline offered limited drama compared with the sharp swings seen in recent weeks. Many used the relative calm to reassess portfolio allocations, with some shifting toward defensives or locking in gains in outperforming sectors.

Fund managers noted that while the ASX 200 has shown resilience, valuations in certain pockets — particularly banks and resources — warrant selectivity. Dividend yields remain attractive for income-focused investors, though capital growth expectations have been tempered by external uncertainties.

The small-cap and emerging companies indices outperformed the broader market on Thursday, highlighting selective interest in growth stories less tied to macro headlines. Technology and biotech names in particular drew buyer interest.

As the trading week draws toward a close, the S&P/ASX 200 sits in a consolidation phase after bouncing from recent lows. Technical analysts point to support near 8,800-8,900 and resistance around the 9,000-9,100 zone, with a break above recent highs potentially signaling renewed momentum if geopolitical risks ease further.

Broader economic indicators suggest Australia’s economy has held up better than some feared amid global headwinds, but risks remain tilted toward slower growth if oil prices stay elevated or consumer confidence deteriorates further. The labor market has shown cracks but remains relatively tight by historical standards.

International investors continue to monitor Australia as a stable, resource-rich economy with strong ties to Asia. Portfolio flows have been mixed in recent months, with some rotation out of resources into technology and healthcare.

Thursday’s 0.26 percent decline leaves the index largely unchanged over the past week, reflecting a market that is waiting for clearer signals on both the geopolitical front and domestic policy outlook. With the northern hemisphere summer approaching and potential shifts in global monetary policy, volatility could persist in the weeks ahead.

For now, Australian equities are navigating a delicate balance between underlying economic resilience and external shocks. The modest pullback on Thursday serves as a reminder that even in a relatively constructive longer-term backdrop, short-term noise from oil markets and banking sector dynamics can dictate daily direction.

Investors will reconvene Friday with fresh corporate earnings and any overnight global developments in focus. Whether the ASX 200 can reclaim the 9,000 level or faces further testing of support will likely depend on the durability of any Middle East ceasefire and the trajectory of commodity prices.

The scheme is set to become one of Hull’s largest ever regeneration projects

Plans have been submitted to kick start the first phase of East Bank Urban Village – one of Hull’s largest ever regeneration projects – which promises to breathe new life back into the area through the creation of a sustainable new neighbourhood. The major project is set to completely transform the eastern bank of the River Hull, through a partnership between lead development partner ECF (English Cities Fund – a partnership between Homes England, L&G, and Muse) and Hull City Council.

The East Bank once formed a vital part of Hull’s maritime industry, but this area has seen a significant decline since the mid-20th century and is now primarily occupied by surface parking and vacant brownfield land. Detailed designs for Phase 1 of East Bank are now with city planners and the hybrid application also includes outline plans for the wider neighbourhood which will deliver around 850 new homes once complete.

Shops, restaurants and leisure spaces will also be created as part of the East Bank Urban Village, creating a vibrant place to live. A network of streets, plazas, green spaces and a new riverside promenade will also boost connectivity, creating active travel routes that encourage walking and cycling throughout the site.

The project is to be delivered in four phases with construction of Phase 1 set to start in early 2027, and Phase 4 expected to be completed in 2040.

Phase 1 will create the core of the new neighbourhood, delivering 37 townhouses and 78 apartments across two buildings. The homes will all be affordable, helping to meet local demand and ensuring East Bank is accessible to a wide range of people. Further phases will deliver more than 700 build-to-rent and affordable apartments across the wider site.

Ahead of the latest planning move a series of community conversations was held last autumn, led by the council and ECF, through which local people had the chance to provide suggestions and other feedback which the council says fed directly into the masterplan. Suggestions included a need for more green community spaces, parking and traffic management, enhancing biodiversity and finding new uses for existing historical landmarks including the former Lock Keeper’s Cottage.

Raife Gale, senior development manager at ECF said: “Local people have been supportive – and so insightful – in offering their feedback, and this has all fed into the final planning application we’ve submitted.

“Our plan is to deliver a sustainable new neighbourhood where people want to live, work and spend time – and key to this is creating quality homes, attractive public spaces and new leisure and business opportunities. East Bank will kick-start a new chapter for this part of the city’s riverside, ensuring it continues to play a role for future generations.

“The council has an ambitious programme of regeneration which is already helping transform the city centre, as seen with the recently completed redevelopment of the Museums Quarter and Old Town, and we are using our knowledge and expertise in delivering complex schemes across the UK to help unlock the next phase of the city’s development.”

Chris Jackson, director of regeneration and partnerships at Hull City Council, said: “It is pleasing that the council has been able to submit plans for phase one of East Bank Urban Village. This is a significant regeneration project which will help to meet the council’s housing targets, revitalise a long-term brownfield site and also support both Hull’s Old Town and city centre economies.

“We have already welcomed extensive public feedback on draft proposals for East Bank ahead of this planning submission and look forward to hearing their thoughts on the updated plans.”

The project is supported by £9.8m in Government-backed Levelling Up Partnership funding, underpinning enabling works and early infrastructure delivery. East Bank Urban Village will also make a significant contribution to the council’s ambition to deliver 2,500 new homes within Hull city centre as part of its Local Plan. It will also act as a catalyst site for Hull’s recently endorsed City Centre Vision.

Like this story? For more news from the commercial property scene around the regions, visit our dedicated section here for the latest news and analysis within the sector.

NEW YORK — SoundHound AI Inc. shares jumped more than 12 percent to close at $7.85 on Wednesday, April 15, 2026, as traders bet on a potential short squeeze ahead of the company’s first-quarter earnings report expected in early May, reigniting debate over whether investors should buy the voice and conversational AI specialist or take profits amid persistent losses and lofty valuations.

The surge came on elevated volume, with the stock climbing from around $7 in early trading and extending gains into after-hours at $8.07. It marked one of the strongest single-day performances in recent weeks for the Nasdaq-listed shares (ticker: SOUN), which remain down roughly 21 percent year-to-date after peaking near $22 in late 2025. The move reflected renewed optimism around SoundHound’s agentic AI platform, recent enterprise partnerships and strong full-year 2025 revenue growth, even as Wall Street wrestles with the company’s path to profitability.

SoundHound reported record full-year 2025 revenue of $168.9 million, nearly doubling from the prior year, with fourth-quarter revenue rising 59 percent to $55.1 million. Management guided for 2026 revenue between $225 million and $260 million, signaling continued triple-digit percentage growth from earlier years. Non-GAAP gross margins reached 58 percent for the year, while adjusted EBITDA losses stood at $58.4 million. The company expects to achieve adjusted EBITDA breakeven by the end of 2026.

Analysts maintain a moderate buy consensus, with an average 12-month price target around $14.93 to $15.50, implying roughly 90 percent upside from current levels. Targets range from a low of $9 to a high of $20, according to aggregators including MarketBeat and Public.com. Firms such as HC Wainwright have reiterated buy ratings despite trimming targets, citing execution in voice AI for automotive, restaurants and now telecom and retail sectors.

The company has expanded aggressively into “agentic” AI — systems capable of handling complex workflows rather than simple voice commands. In February at Mobile World Congress, SoundHound launched Sales Assist, a real-time AI agent for retail sales floors that recommends deals and add-ons. On April 9, it partnered with Associated Carrier Group to bring agentic AI to telecom customer service and employee experience. Earlier deals include extensions with Five Guys, collaborations with Bridgepointe Technologies and Experis (ManpowerGroup), and integration with TomTom for in-car voice and navigation at CES 2026.

These moves build on SoundHound’s core technology, which powers voice assistants in vehicles, drive-thrus and smart devices. The company’s acquisition of Interactions Corp. in 2025 bolstered its enterprise offerings, though 2026 guidance has not yet fully reflected those synergies. Customer concentration remains a risk, with one client historically accounting for more than 30 percent of revenue.

Short interest has drawn attention, with some traders eyeing a squeeze similar to past AI-related rallies. Options activity showed mixed sentiment, but bullish bets increased as the stock climbed. Year-to-date, SoundHound has underperformed broader AI names amid a cooling enthusiasm for unprofitable growth stocks, yet its revenue trajectory remains among the fastest in software.

For buyers, the bull case centers on several factors. Voice AI represents a massive addressable market as enterprises seek to automate customer interactions and internal processes. SoundHound’s technology operates across automotive, hospitality, retail and telecom, providing diversification. Partnerships with established players like TomTom and major consulting firms could accelerate adoption. If the company hits or exceeds its 2026 revenue guide while narrowing losses, the stock could re-rate higher toward analyst targets. Long-term believers point to potential acquisition interest, given the strategic value of conversational AI in an increasingly agent-driven world.

Bears counter that the valuation remains stretched. Even at current levels near $8, the stock trades at a significant multiple of projected 2026 revenue. Persistent GAAP losses, negative cash flow from operations in past periods and heavy R&D spending raise questions about capital needs. Competition is intense from larger players including Nuance (Microsoft), Google, Amazon and specialized rivals. Execution risk is high for a company still scaling its agentic platform, and any slowdown in AI spending could pressure growth. High short interest can fuel volatility in both directions.

Technical traders note the stock has traded below its 50-day and 200-day moving averages for much of 2026, though the recent pop has challenged near-term resistance. Support sits near $6.50-$7, with resistance around $9-$10. Broader market sentiment toward small-cap AI names will likely influence direction, especially as investors digest upcoming inflation data, Federal Reserve signals and Big Tech earnings.

SoundHound’s next earnings, expected around May 7 for the first quarter, will be closely watched. Analysts anticipate continued revenue growth but ongoing per-share losses near 7 to 10 cents. Any positive surprise on margins, new customer wins or updated full-year guidance could spark further upside. Conversely, softer commentary on AI adoption timelines or widened losses might trigger profit-taking.

Retail investors have shown enthusiasm for SoundHound, drawn to its relatively accessible share price and narrative as a pure-play voice AI contender. Yet volatility remains elevated — the stock has seen multiple double-digit swings in single sessions. Position sizing is critical, with many advisers recommending no more than a small portfolio allocation given the speculative nature.

Institutional ownership has grown with the company’s rising profile, though dilution from equity raises and stock-based compensation has been a feature of its growth story. The balance sheet benefited from past financings, providing runway into 2026, but sustained investment in sales, marketing and R&D will be necessary to scale.

Broader sector dynamics add context. While generative AI hype has cooled from 2023-2024 peaks, practical applications like conversational agents are gaining traction in customer-facing industries. SoundHound’s focus on real-time, domain-specific voice solutions differentiates it from general large language models, potentially offering stickier revenue through multi-year contracts.

As April 2026 progresses, the decision to buy or sell SoundHound AI stock hinges on time horizon and risk appetite. Momentum traders may ride near-term catalysts such as earnings or fresh partnership announcements. Long-term investors bullish on AI infrastructure could view current levels — after the year-to-date pullback — as an entry point, especially if they believe the company can deliver on breakeven targets. More conservative participants might wait for clearer signs of profitability or a pullback to lower support levels before committing capital.

Analysts largely favor the upside, with no sell ratings in recent coverage. Yet forecasts come with caveats around execution and market conditions. SoundHound itself emphasizes its technology’s ability to deliver measurable ROI for clients through faster service, higher conversion rates and reduced labor costs — metrics that could drive adoption if proven at scale.

In the end, 2026 represents a pivotal year for SoundHound as it transitions from high-growth revenue story to a more mature operator targeting profitability. The stock’s recent surge underscores lingering excitement around voice AI, but sustainability will depend on consistent delivery against ambitious guidance.

Investors should monitor quarterly results, partnership traction and any shifts in AI spending sentiment closely. With earnings on the horizon and analyst targets pointing significantly higher, SoundHound offers both opportunity and risk in equal measure — a classic high-beta play in the evolving artificial intelligence landscape.

Whether the momentum continues or fades will likely be decided in the coming weeks, as the market weighs hype against the hard work of turning conversational AI into sustainable profits.

Domestic mutual funds unleashed a Rs 38,000 crore buying spree across five banking giants in March, mounting an aggressive counter-offensive as foreign institutional investors dumped a staggering Rs 60,655 crore worth of financial stocks during the worst of the Iran war selloff.

The multi-billion dollar battle saw mutual funds pile into HDFC Bank (Rs 17,250 crore), ICICI Bank (Rs 7,320 crore), State Bank of India (Rs 5,450 crore), Kotak Mahindra Bank (Rs 4,089 crore), and Axis Bank (Rs 3,892 crore), according to Prime Database estimates for March 2026. HDFC Bank emerged as the top addition across major fund houses, including SBI MF, Nippon India MF, Quant MF, ICICI Prudential MF, Axis, Aditya Birla, and DSP.

The FII exodus from banks was brutal, as every second dollar pulled out from Dalal Street in March came from the financial sector. The Rs 60,655 crore outflow represented more than half of the total Rs 1.18 lakh crore that FIIs withdrew from Indian equities last month, according to NSDL data, making banks and financials the hardest-hit segment.

Also Read | HDFC Bank, BSE and Tata Motors among top stocks mutual funds bought and sold during March crash

The carnage sent Nifty Bank plunging 17% in March, with Nifty PSU Bank tumbling nearly 20% as the worst performer. Nifty Financial Services fell 15.6% as the broader Nifty crashed over 11%.

Yet, the severity of the selloff has created opportunities, according to brokerages, which argue that the correction has already priced in 2-3 quarters of slower growth.
“After the start of the conflict, stocks have corrected by about 10-15% in the case of most largecap banks and NBFCs,” BNP Paribas noted. “It is hard to argue that the starting valuations were rich for our preferred large private banks. We like the risk-reward at current prices and only meaningful economic injury through a prolonged disruption could materially change the prognosis.”Prabhudas Lilladher turned more bullish, upgrading its overweight stance on banks and increasing allocation to Kotak Mahindra Bank and HDFC Bank by 40 basis points each.

“Credit growth remains strong at 13-14%; however, the Gulf War and a change in the interest rate cycle have led to stocks being hammered. We believe that frontline banks would have an advantage in this scenario,” the brokerage said, though it cautioned that medium-term credit growth trends will depend on sustained consumer demand and resolution of the war.

Also Read | Rs 61,000 crore FII sell-off hits bank stocks. Cheap enough for you to buy now?

Emkay’s Anand Dama expects profitability in the banking sector coverage universe to improve roughly 10% YoY and 5% QoQ, “mainly led by private banks, up 14% YoY/8% QoQ due to lower credit costs.”

However, he expects profit growth momentum for public sector banks to moderate slightly, declining 10% YoY and 2% QoQ, due to weaker treasury performance.

Ambit Capital acknowledged that the sector faces a “valuation discount” as macroeconomic uncertainty forces a recalibration of risk premiums. “Heightened geopolitical volatility and a tightening liquidity environment have introduced significant ‘earnings visibility’ risks,” the brokerage said, warning that P/BV multiples will remain range-bound until global supply chain disruptions and domestic liquidity constraints stabilise.

Still, Ambit struck an optimistic long-term note: “From a longer-term perspective, banks at currently lower valuations offer a good opportunity to buy, as balance sheet strength and the long-term fundamentals of banks are healthy.”

The mutual fund buying binge suggests domestic institutional investors are betting the war-driven correction has created a rare entry point in India’s banking heavyweights in a wager that will be tested as geopolitical tensions and liquidity pressures continue to weigh on the sector.