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US markets hit record highs despite sharply revised weak job growth data casting recession fears. Tech stocks like Oracle rally on AI growth optimism. Investors price in aggressive Fed rate cuts. Defensive sectors outperform amid geopolitical tensions involving Poland and Russia.
US Federal Reserve Governor Lisa Cook’s firing blocked by multiple courts, stalling President Trump’s efforts amid ongoing legal battle and potential Supreme Court showdown.
911,000 – Jobs cut from US payrolls revision through March 2025, the largest adjustment in history.
US job growth revised sharply lower by 911,000 jobs through March 2025, worsening economic outlook and fueling market expectations for aggressive Fed rate cuts.
Oracle shares soar on strong cloud growth and AI-related backlog, offsetting earnings miss and propelling stock towards multi-decade highs amid AI demand surge.
Oracle Stock Rockets 25% on Cloud Growth and AI Backlog Surge
Despite missing earnings estimates, Oracle’s robust AI-driven cloud backlog and multi-billion dollar deals fuel a sharp stock rally, signaling strong growth potential in cloud computing markets.
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Poland shoots down multiple Russian drones violating its airspace during heightened tension linked to Russian assault on Ukraine, marking first direct NATO-Russia clash.
Apple unveils new iPhone 17 lineup featuring a record-thin iPhone Air, enhanced AirPods, and new watches, with focus on hardware upgrades over AI features amid tariffs.
US Job Growth Slashed by 911,000 in Largest Revision Ever… Markets React
The Bureau of Labor Statistics revised US payroll data downward by 911,000 jobs over the past year, revealing a more severe economic slowdown and rattling markets.
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Trump presses EU to impose 100% tariffs on China and India aiming to pressure Russia over Ukraine war, escalating trade tensions and drawing legal scrutiny in US courts.
Klarna prices IPO above expectations at $40 per share, valuing the Swedish fintech at about $15 billion, boosting investor optimism in buy now, pay later segment.
White House signals ongoing push for government funding extensions amid shutdown risk; Federal Reserve firing policies under court scrutiny; Trump administration cracks down on direct-to-consumer pharma ads.
GameStop posts fifth consecutive quarterly profit driven by strong sales in collectibles and hardware, causing after-hours stock gain amid continuing turnaround efforts.
Microsoft mandates employees return to office three to four days weekly in phased rollout starting early next year, ending flexible work for AI org and others.
We’ve made billions using AI already – the future belongs to those who embrace it.
— Google Cloud CEO Thomas Kurian
Hyundai immigration raid at Georgia electric vehicle plant exposes visa loopholes and workforce challenges impacting foreign companies and US-South Korea relations.
Supreme Court expedites hearing on legality of Trump’s sweeping tariffs, setting stage for major determination impacting presidential emergency powers and trade policies.
Cracker Barrel suspends restaurant renovation plans amid consumer and investor backlash over logo redesign and rebranding, reflecting brand and operational uncertainty.
Teck Resources and Anglo American announce $53-70 billion merger to create global copper giant, amid booming demand for critical minerals vital to tech and EVs.
JPMorgan CEO Jamie Dimon warns of looming US economic slowdown amid job revisions and inflation concerns, signaling cautious outlook for markets and policymakers.
Amazon expands AI-powered shopping features with Lens Live visual search and debuts satellite internet boost; Nasdaq invests $50 million in crypto exchange Gemini’s IPO.
Poland responds to multiple Russian drone incursions by scrambling jets and activating ground forces, underscoring rising tensions and NATO’s direct engagement risks.
China’s consumer prices decline more than expected, with deflation persisting in producer prices, highlighting economic challenges and calls for policy stimulus.
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