Stock futures rose as investors awaited Friday’s CPI report, with the S&P 500 and Nasdaq pushing toward record territory while the Dow lagged but held gains. Oil spiked on sanctions news, lifting energy names, while megacap AI chip deals bolstered tech. Volatility ticked higher ahead of inflation data, making rate and earnings cues the dominant catalysts.
President Trump issued a high-profile pardon for Binance founder Changpeng Zhao, reversing a landmark crypto conviction. The move has immediate political and regulatory reverberations across the crypto industry and Washington.
5% – Jump in oil prices after U.S. sanctions on major Russian energy firms.
The US rolled out sweeping sanctions on major Russian oil producers, sending oil prices sharply higher. Markets and energy-importing countries are scrambling to assess supply and price fallout.
The US government shutdown stretches into a fourth week, delaying key data and paychecks and threatening holiday travel. Economists and markets are nervously awaiting the belated CPI report for policy signals.
Newmont beats estimates as gold booms — profits rise
Newmont reported stronger‑than‑expected quarterly results, boosted by record gold prices that offset production pressures and delivered solid free cash flow, reassuring investors in the mining sector.
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U.S. and Chinese officials are racing to strike trade understandings ahead of a planned Trump–Xi meeting at APEC. Diplomats hope negotiations in Malaysia will set the stage for leaders to avoid escalation.
The European Commission has preliminarily found that Meta and TikTok breached the Digital Services Act, raising the prospect of heavy fines. The probes focus on transparency, content flagging and researcher access to data.
Applied Materials to cut hundreds of jobs despite record sales
Applied Materials said it will reduce headcount even as demand for semiconductors remains strong, highlighting structural shifts and potential cost pressures in the chip‑equipment supply chain.
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Intel posted a surprise profit and beat estimates, sending its shares higher after hours. Investors are watching whether the earnings momentum can translate into durable gains for Intel’s foundry ambitions.
Amazon published a detailed post‑mortem after an AWS outage knocked thousands of sites and services offline. The report blamed a rare software bug and faulty automation, renewing scrutiny of cloud concentration risks.
EU preliminary DSA findings against Meta and TikTok raise prospect of large fines and tighter platform rules; US and EU rolled out new sanctions on Russian energy firms; Fed poised to propose stress‑test overhaul loosening some bank requirements.
Anthropic and Google struck a multi‑year TPU and cloud capacity deal worth tens of billions, intensifying the AI infrastructure arms race. The pact signals deeper industry consolidation around elite chip suppliers.
Target unveiled a broad corporate restructuring that will cut thousands of office jobs as its incoming CEO seeks to simplify the company. The layoffs are part of a cost‑cutting push to restore growth ahead of the holidays.
Don’t believe I’ve ever met him, but he had a lot of support.
— President Donald Trump
EV maker Rivian is cutting roughly 600 jobs as demand softens and the company reprioritizes ahead of new product launches. The move underscores mounting pressure across the broader EV supply chain.
JPMorgan will allow institutional clients to post Bitcoin and Ether as collateral, a major step toward crypto integration with mainstream finance. The bank’s move could broaden crypto lending but raises regulatory questions.
Federal probes into massive illegal sports‑betting rings have produced arrests of current and former NBA figures, revealing deep links between organized crime and betting operations. The indictments threaten to reshape the sports‑gaming landscape.
The EU is discussing using frozen Russian assets to fund loans to Ukraine even as Brussels coordinates new sanctions with Washington. The debate reveals political and legal hurdles to turning seized reserves into aid.
Air traffic controllers face missed pay amid the shutdown, raising the prospect of travel chaos over the holidays. Transportation officials warn disruptions will mount unless Congress acts.
Apple has started shipping American‑made AI servers from its Houston facility, advancing the administration’s on‑shoring push. The move positions Apple as a buyer and builder in the emerging domestic AI infrastructure market.
Russia’s central bank cut its key rate by 50 basis points to 16.5%, a rare easing amid geopolitical strains. The move follows market pressure and dovetails with record gold purchases and debates over frozen Russian assets in Europe.
Quantum computing names rallied on reports the U.S. government may take stakes in firms and offer financing, boosting speculative interest. Talks with federal agencies have revived hopes for state backing of quantum scale‑up.
Markets are trading higher ahead of the long‑awaited CPI print, with futures pricing in gains and volatility tied to inflation risks. Investors are watching oil, AI chip deals and bank earnings for the next directional cues.