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U.S. stocks tread near record highs as S&P 500 and Nasdaq flirt with renewed gains while the Dow lags. Volatility is rising under the hood: AI stocks lead tech rallies, Nvidia and AMD trade on headline deals, and gold soars past $4,000 as safe-haven demand spikes. Markets are pricing Fed cuts amid shutdown-driven data gaps and geopolitical risk.
Federal Reserve minutes show policymakers split between cutting rates to support the softening labor market and lingering inflation risks. Officials signaled willingness to ease while warning that price pressures could complicate the path to lower rates.
34,000 – Approximate number of IRS employees to be furloughed, representing about 46% of the agency’s workforce.
The Bank of England warned that frothy AI-driven tech valuations resemble late‑1990s excess and could trigger a sharp correction. UK regulators are increasingly sounding alarms about concentrated risk in the tech sector.
Gold surged past $4,000 an ounce as investors sought safe havens amid market and geopolitical uncertainty. Heavy ETF inflows amplified the rally, prompting renewed interest in precious-metals plays.
Base Power Raises $1B — Home‑Battery Push Gets Major Cash
Base Power secured $1 billion to scale residential battery deployments, positioning the company to expand beyond Texas and accelerate home-energy storage adoption amid surging demand.
More on nytimes.com
The U.S. government shutdown intensified operational disruptions as the IRS announced widespread furloughs and senators failed to advance funding bills. Critical services and federal operations face escalating delays and uncertainty.
Air-traffic staffing shortages tied to the shutdown are spreading delays across major U.S. airports. Airlines and the FAA warn that controller fatigue and missing personnel are already degrading on‑time performance.
Joby Tumbles on $513M Stock Offering — Air‑Taxi Hopes Dented
Joby Aviation’s shares plunged after pricing a $513 million discounted offering, diluting investors and raising fresh doubts about the near-term funding outlook for commercial air‑taxi rollouts.
More on investors.com
Diplomats reported cautious optimism that negotiations could yield a Gaza ceasefire and hostage release. Multiple outlets say an initial deal could be signed imminently, raising hopes for a swift de‑escalation.
Authorities announced arrests in the probe into the deadly Palisades fire that destroyed a Los Angeles neighborhood. The developments mark a major step in a criminal investigation into one of the state’s most destructive recent blazes.
House committees press new export limits on chip equipment; a U.S. state moves to issue a bank‑backed stablecoin; Fed minutes signal easing bias while warning on inflation — regulators and lawmakers are shifting policy levers that could reshape markets.
AMD’s stock rallied sharply after an OpenAI partnership, extending a multi-day historic run for the chipmaker. Traders are reshuffling positions as analysts debate how far AMD can challenge Nvidia in AI infrastructure.
Nvidia shrugged off short-term market hits from AMD’s deal, leaving the market still bullish on NVDA’s AI moat. CEO Jensen Huang urged nuanced policy amid global AI competition and flagged geopolitical risks.
“The U.S. is not far ahead of China in AI — we need a nuanced strategy to win.”
— Jensen Huang, Nvidia CEO
Elon Musk’s xAI is raising a massive funding round tied to GPU supply, with chipmakers among potential backers. The financing push underscores the industry’s race to build ever-larger AI models and infrastructure.
NYSE owner ICE’s multi‑billion bet revives prediction markets and draws Wall Street attention. The funding and valuation jump made Polymarket’s founder one of the youngest self‑made billionaires, spotlighting crypto-finance crossover.
A U.S. state is launching a Fiserv-powered, bank‑backed stablecoin as public and private experiments in digital dollars accelerate. State-issued tokens add a new dimension to the stablecoin debate and regulatory scrutiny.
AST SpaceMobile struck a commercial deal with Verizon to expand space-based broadband, boosting its stock and plans. The pact highlights growing carrier interest in non‑terrestrial network services.
Regulators and prosecutors have opened probes into major companies, from insurers to adtech firms, raising governance and compliance risks. These investigations could produce significant writedowns and legal costs.
U.S. lawmakers are pushing limits on chip equipment exports and toolmaker sales amid national security concerns about China. A House report targeting ASML and Tokyo Electron escalates political pressure on global supply chains.
The collapse of auto‑parts supplier First Brands is rippling through banks and funds, exposing concentrated creditor risk. Jefferies and other lenders face material hits as the bankruptcy unfolds.
ExxonMobil is reshaping strategy and making large internal bets as energy markets shift, part of a broader industry retooling. Oil prices rose on demand optimism, lending support to energy names amid geopolitical risks.
An aluminum-plant blaze is set to dent Ford’s earnings and disrupted production at an F‑150 plant, triggering union warnings. Auto supply chain vulnerabilities resurfaced as the company assesses losses.
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