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Markets opened choppy as U.S.-China trade moves reignited risk-off flows: S&P 500 and Nasdaq slipped while the Dow lagged as banks and tech whipsawed on earnings and tariff headlines. Volatility rose with gold and Treasuries bid, energy sliding on an IEA surplus, and investors rotating into defensive and AI‑infrastructure names.
Beijing has escalated its trade response, targeting U.S.-linked shipbuilding and port operations. The moves signal a widening tit-for-tat that risks disrupting global shipping and supply chains.
13.5tn – BlackRock’s assets under management hit a record $13.5 trillion.
A U.S.-brokered ceasefire produced the release of remaining hostages and a high-profile summit in Egypt. Leaders hailed a diplomatic win, but analysts warn the truce leaves open many political and security questions.
JPMorgan posted a strong quarter while flagging macro uncertainty, underscoring the bank’s central role in dealmaking. The firm also unveiled a sweeping capital plan aimed at shoring up U.S. industrial resilience.
Oura raises $900M at $11bn valuation – Wearable health demand surges
Health-tech ring maker Oura closed a $900m funding round led by Fidelity, lifting its valuation to about $11bn and signaling strong investor appetite for consumer health wearables.
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Goldman reported a surge in profits driven by advisory fees and trading, then moved quickly to tap bond markets. The bank’s results underscore the heft of dealmaking in driving Wall Street earnings.
OpenAI and Broadcom expanded a strategic chip collaboration that could reshape AI infrastructure demand. Markets reacted strongly as chipmakers jockey for position in a race to supply next-gen AI systems.
First Brands CEO exits amid accounting questions – Bankruptcy fallout deepens
First Brands’ chief executive stepped down as scrutiny over the company’s accounting and insolvency risks intensified, adding strain to already fragile auto-supply credit markets.
More on nytimes.com
Oracle’s cloud will deploy tens of thousands of AMD AI processors, signaling further erosion of Nvidia’s dominance. The deal strengthens AMD’s market position in data-center AI workloads.
Johnson & Johnson announced a separation of its orthopedics arm after beating quarterly estimates. The move is pitched as a value-creation step as the company refocuses on higher-growth pharmaceuticals and devices.
Major policy moves: China tightened rare-earth and export rules, the U.S. imposed new tariffs and port fees, Meta set default PG-13 limits for teen Instagram accounts, and California passed guardrails for AI chatbots and companion bots.
General Motors will book a significant charge tied to a pullback in EV investments, the latest sign that policy shifts are reshaping automakers’ strategies. The hit underscores risks from subsidy rollbacks and changing demand.
China tightened export controls on rare-earth materials and magnets, triggering alarm in Western defence and tech circles. The moves increase pressure on supply chains for chips, motors and critical defence hardware.
If they want to slow down the global economy, they will be hurt the most.
— U.S. Treasury Secretary Scott Bessent
Meta moved to limit teen exposure on Instagram by applying PG-13 content rules by default. The change follows regulatory and public pressure over youth safety on social platforms.
SpaceX completed another successful Starship test flight, advancing its heavy-launch roadmap. The company signalled a transition from the V2 configuration to an upgraded V3 iteration.
Crypto markets remain under pressure after a wave of leveraged liquidations wiped billions from prices. Market makers and exchanges face scrutiny as volatility and outflows persist.
Oil prices fell sharply on an IEA report pointing to a growing global surplus, pressuring energy markets and producers. Traders reassessed supply/demand balances ahead of winter demand expectations.
Walmart is moving into conversational commerce via a tie-up with OpenAI, enabling shopping through ChatGPT. The deal signals growing retailer interest in embedding AI into checkout and discovery.
Google announced multi–billion-dollar data-centre investments in India, betting on the country as an AI and cloud hub. The projects carry major implications for jobs, power demand and local tech ecosystems.
BlackRock set records for assets under management amid heavy ETF and private market inflows. The scale highlights the industry’s concentration and the dominance of major asset managers in today’s market rally.
Researchers warned that unencrypted satellite data is exposing sensitive communications, raising national-security and privacy concerns. Separate ransomware incidents have also knocked industrial production and risked personal data leaks.
The U.S. government shutdown is forcing agencies to ‘batten down’ and push headcount cuts, with the White House signalling further layoffs to ride out the stalemate. The economic ripple effects are already visible in services and travel.
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