Market Beats | Wall Street bonuses hit record $49.2 billion; Jury orders Meta and Google to pay damages in addiction case; US-Iran ceasefire skepticism rattles global markets; JPMorgan plans new private credit fund with higher liquidity; Trump administration investigates medical schools for race discrimination; US plans troop deployment to Middle East amid Iran talks; Netflix raises US subscription prices across all plans

—— Wall Street bonuses hit record $49.2 billion; Jury orders Meta and Google to pay damages in addiction case; US-Iran ceasefire skepticism rattles global markets; JPMorgan plans new private credit fund with higher liquidity; Trump administration investigates medical schools for race discrimination; US plans troop deployment to Middle East amid Iran talks; Netflix raises US subscription prices across all plans;

1. Wall Street bonuses hit record $49.2 billion

Average annual bonuses on Wall Street rose 6% to a record $246,900 last year, according to estimates released by New York State Comptroller Thomas DiNapoli. The total payout pool reached $49.2 billion, the highest since records began in 1987. This surge was driven by a rebound in mergers, acquisitions, and strong trading revenues, which hit a record $134 billion.

While the financial sector provided nearly 19% of New York State’s tax revenue, DiNapoli warned of a more complex outlook for 2026. Despite last year’s windfall, geopolitical tensions and the Iran War have begun to roil markets and spur inflation. There are also concerns that tax revenues from these payouts may fall short of earlier state budget projections.

The record bonuses come amid a shifting political landscape in New York. Newly inaugurated Mayor Zohran Mamdani has proposed tax hikes on corporations and the wealthy to lower the cost of living for the working class.

These policies have drawn criticism from some industry leaders, including Bill Ackman, who expressed concerns about a potential exodus of businesses and wealthy residents from the city.

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2. Jury orders Meta and Google to pay damages in addiction case

A Los Angeles jury has ruled that Meta Platforms Inc. and Alphabet Inc.’s Google must pay damages to a 20-year-old woman, Kaley G.M., who claimed her addiction to social media caused severe mental health struggles. The landmark decision found both companies negligent in the design and operation of their platforms, asserting they should have warned that their products could be dangerous for minors.

The jury awarded a total of $6 million in damages, with Meta ordered to pay $4.2 million and Google $1.8 million. These figures include both compensatory funds for therapy costs and punitive damages intended to discourage future wrongdoing. While the award is relatively small compared to the companies’ vast wealth, the 10-2 liability verdict marks a significant legal shift in how social media platforms are held accountable for user well-being.

This case is seen as a bellwether for thousands of similar claims alleging that platforms like Instagram and YouTube are intentionally designed to addict young users.

With two more major trials scheduled in California this year, legal experts suggest these defeats could force the tech giants into multibillion-dollar settlements, similar to historic deals seen in the tobacco and opioid industries.

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3. US-Iran ceasefire skepticism rattles global markets

Skepticism over a potential ceasefire between the US and Iran has pushed oil prices significantly higher while sending stocks and bonds downward. The S&P 500 fell approximately 1.5% after President Donald Trump declined to commit to an agreement, while Brent crude surged 6.5% to around $109 per barrel. The market volatility reflects a month of intense trading since the conflict began.

The downturn in Treasuries deepened following a weak $44 billion sale of US notes, pushing 10-year yields toward their highest levels since last July. Meanwhile, safe-haven assets like Bitcoin and gold also retreated. Despite ongoing efforts to negotiate a resolution through intermediaries, both nations have maintained military pressure, with Trump threatening intensified action if Tehran does not agree to Washington’s terms.

The two sides remain far apart, as Iran has set specific conditions for ending the conflict, including guarantees that the US and Israel will not resume attacks.

While Trump had set a deadline for an agreement by the end of the week, analysts suggest that progress in the talks remains “sketchy at best.” The continued impasse poses ongoing risks to global energy supplies and financial stability.

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4. JPMorgan plans new private credit fund with higher liquidity

JPMorgan Chase & Co. is launching a new interval fund, the JPMorgan Public and Private Credit Fund, designed to address the liquidity squeeze in the $1.8 trillion private credit market. According to its recent prospectus, the fund expects to allow investors to redeem 7.5% of shares per quarter, a rate notably higher than the 5% cap currently maintained by many major private credit managers.

The bank is also seeking an exemption from the US Securities and Exchange Commission to potentially offer monthly withdrawals of at least 2%. JPMorgan argued in its request that monthly repurchases would serve the public and shareholder interests by providing more frequent liquidity. This move is relatively rare in the industry, where multi-billion dollar exits are often restricted during market volatility.

The new fund intends to invest at least 80% of its assets in credit, with a substantial portion dedicated to private credit alongside publicly traded loans.

By offering more flexible redemption terms, JPMorgan aims to attract investors who have previously been wary of the “trapped” capital often associated with private credit investments during periods of restricted liquidity.

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5. Trump administration investigates medical schools for race discrimination

The US Justice Department’s Civil Rights Division has launched investigations into Stanford University, Ohio State University, and the University of California, San Diego for “possible race discrimination.” According to a New York Times report, federal officials are requesting extensive data from these medical schools, including applicant test scores, ties to donors, and internal communications.

The administration has threatened to withhold federal research funding if the universities do not comply with the data requests by April 24. This move is part of a broader series of actions against elite institutions. While several universities, such as Columbia and Cornell, have recently settled separate allegations to restore their funding, Harvard and the University of California system have chosen to challenge the government’s pressure in court.

The University of California system previously saw over half a billion dollars in research funding frozen by President Donald Trump. While most of those funds were eventually restored through court rulings, the system has yet to reach a formal settlement.

These latest probes signal a continued push by the administration to scrutinize university admissions and internal policies under the banner of civil rights enforcement.

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6. US plans troop deployment to Middle East amid Iran talks

The US is planning to deploy thousands of additional troops to the Middle East for potential land operations in Iran, even as President Donald Trump claims progress in peace negotiations. Sources familiar with the matter indicate that the Pentagon is set to deploy approximately 3,000 soldiers from the Army’s 82nd Airborne Division to join Marines already en route to the region.

Speaking at the White House, Trump stated that the US is in contact with the “right people” in Iran, noting that Vice President JD Vance and Secretary of State Marco Rubio are involved in the discussions. However, Tehran has denied direct participation in talks with the US, though it confirmed that mediation efforts by other nations are currently under way.

The deployment comes ahead of a Friday deadline set by Trump for Iran to end the conflict. The President suggested that Iran has already made significant concessions in the energy field and abandoned its nuclear ambitions, though he provided no specific details.

If no agreement is reached by the deadline, Iran faces the prospect of intensified US strikes and the possible deployment of ground troops.

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7. Netflix raises US subscription prices across all plans

Netflix Inc. has increased the monthly cost of its standard streaming subscription with ads in the US by $1, bringing the price to $8.99. This marks the first price hike for the ad-supported tier in just over a year, as the company continues to adjust its revenue model amid a competitive streaming landscape.

The price increases extend to Netflix’s ad-free tiers as well. The standard plan without ads has risen by $2 to $19.99 per month, while the premium plan—which supports up to four devices simultaneously—climbed $2 to $26.99. In a statement, the company emphasized its commitment to offering a range of plans to meet various consumer needs.

Netflix cited heavy investment in original programming and live events as the primary drivers for the hike. Recent highlights include a new season of the anime hit “One Piece,” the film “Peaky Blinders: The Immortal Man,” and high-profile live broadcasts like the recent BTS comeback concert.

The new pricing is effective immediately for new subscribers, while existing members will receive a 30-day notice via email.

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