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Markets pushed higher into Thanksgiving week as rate‑cut expectations drove a four‑day rally: S&P 500 and Nasdaq led gains while the Dow also climbed. Tech and AI names outperformed, crypto showed fresh inflows, and volatility eased slightly. Catalysts include Fed signals, Medicare drug pricing, big‑tech earnings and geopolitical shocks in Hong Kong and Washington.
A brazen shooting just blocks from the White House has prompted immediate changes to U.S. immigration processing. Authorities say the attack left National Guard members critically wounded and triggered an administrative freeze on Afghan immigration cases.
71% – Medicare cut to Ozempic price in latest negotiation round.
A devastating high-rise blaze in Hong Kong’s Tai Po district has killed dozens and left hundreds unaccounted for. Police have launched a criminal probe and arrested construction workers as investigators point to unsafe scaffolding.
U.S. equities rallied into Thanksgiving but gains haven’t erased November’s slide. Tech led moves as investors priced in Fed easing, producing a mixed picture for monthly performance.
Goldman to add 500 jobs in Birmingham — UK expansion
Goldman Sachs will create 500 roles in Birmingham as it expands UK operations, signalling confidence in Britain’s financial sector after the budget and supporting growth in regional finance hubs.
More on fnlondon.com
OpenAI faces scrutiny on two fronts: a large projected funding shortfall and a recent analytics-provider breach. The firm is cutting ties with an analytics vendor as critics question governance and funding strategy.
Wall Street banks are accelerating UK investment after the budget, signaling confidence in London despite tax changes. JPMorgan unveiled plans for a massive new Canary Wharf campus as rivals expand UK footprints.
Workday shares tumble on subscription guidance miss
Workday’s shares slid after the company revised subscription revenue guidance lower, stoking investor concerns about demand for enterprise SaaS and the firm’s growth trajectory.
More on cnbc.com
Crypto infrastructure is under pressure after a major exchange hack and a ratings downgrade for the largest stablecoin. The twin shocks raise questions about exchange security and stablecoin reserve transparency.
Tensions in the Taiwan Strait are escalating as Taipei boosts defense spending and Beijing issues stark warnings to regional players. The moves heighten regional geopolitical and supply-chain risk.
US suspends Afghan immigration processing after the DC shooting; Medicare negotiates steep drug-price cuts (Ozempic down 71%); UK budget raises taxes to shore up finances; Australia moves to bring crypto platforms into financial licensing; EU tightens online fraud protections.
Frontline combat and diplomacy both intensified: Ukraine reported a heavy drone barrage overnight even as uncertain peace efforts face leaks and setbacks. The conflict shows sustained kinetic pressure alongside fragile negotiations.
Chinese tech groups are shifting AI model training offshore to access chips, while Alibaba doubles down on consumer AI with new smart glasses. The moves reflect China’s push to scale AI amid chip constraints.
“An act of terror.”
— President Donald Trump
Big employers are reshaping headcounts as AI and strategy shifts force cost cuts. Legacy and scaling firms alike announced layoffs and restructurings that will ripple through supply chains and talent markets.
China’s property resilience is in doubt as Vanke’s bonds crater and lenders balk at new loans. Market concern deepens over state support for developers and contagion to credit markets.
French authorities are escalating corporate enforcement with raids and lawsuits targeting big names and marketplaces. Regulators are moving on tax probes and safety issues tied to e-commerce platforms.
A legal fight between chipmakers has spilled into courts and boardrooms amid talent moves. TSMC accuses a former exec of leaking trade secrets while Intel defends its hiring decision.
The AI and cloud-driven surge in data centers is pushing energy prices higher and reshaping power economics. Some projects are turning to innovative uses of waste heat to offset costs and environmental impact.
U.S. Medicare negotiations are cutting drug prices sharply, reshaping pharma profit outlooks. The changes triggered market moves for major drugmakers and will pressure global pricing strategies.
Bitcoin staged a powerful rebound as investors priced in easing, and ETF interest in altcoins is shifting institutional flows. The market shows renewed appetite but remains vulnerable to liquidity shocks.
U.S. banking rules are under review as Washington tilts toward lighter regulation, while lawmakers push for tailored standards. The debate raises questions about systemic risk and the global competitive stance of American banks.
Apple is fighting regulatory pressure in India even as it regains the top spot in smartphone shipments. The legal and commercial moves underscore tech-policy friction in major markets.
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