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U.S. markets traded choppy as tech earnings and AI optimism supported gains in the S&P 500 and Nasdaq while the Dow lagged. TSMC’s blowout results and strong AI spending underpinned risk appetite, gold surged on rate-cut bets, and bank trading revenues boosted financials amid shutdown-related volatility.
Congress again fails to pass a stopgap funding bill as the shutdown drags on. Treasury officials warn the impasse is starting to bite the economy, increasing pressure for a deal.
39% – TSMC’s year-on-year jump in Q3 net profit, underscoring the AI chip boom.
A federal judge temporarily blocked planned layoffs tied to the funding gap, offering relief to thousands of workers. But furloughed staff face acute financial strain as paychecks stall.
TSMC reported blowout Q3 results and raised guidance as AI demand fuels chip orders. The company also accelerated plans to produce advanced 2nm chips in the U.S. to meet hyperscaler demand.
Deel Raises $300M, Valuation Hits $17.3B
Deel landed $300m in fresh funding, pushing its valuation to $17.3bn and signaling strong demand for global HR and payroll platforms as firms offshore workforces.
More on techcrunch.com
A BlackRock- and Nvidia-backed investor group moved on major data-center assets as demand for AI infrastructure surges. Hyperscale cloud operators are set to consume sharply more power, stressing grids and utilities.
Beijing’s tighter controls on rare earths have escalated trade tensions with Washington. G7 finance ministers vowed a coordinated response to counter disruptions to critical supply chains.
United Airlines Slumps 9% After Weak Q3 Revenue
United’s shares plunged after Q3 revenue missed forecasts, highlighting travel demand fragilities and pressuring other carriers amid rising costs and competitive pricing.
More on breakingthenews.net
Ripple doubled down on corporate finance with a major treasury-suite acquisition as it pushes into enterprise payments. The deals mark the firm’s rapid expansion into treasury and stablecoin-linked services.
A major stablecoin issuer blamed a technical glitch for an unprecedented minting error that briefly created astronomical token supply. The episode stoked scrutiny of stablecoin controls and market plumbing.
G7 finance chiefs pledged coordinated action on China’s rare-earth curbs; regulators are also moving to tighten stablecoin oversight while lawmakers debate strategic equity stakes in critical-minerals firms.
Nestlé unveiled sweeping cuts in a bid to restore margins, triggering an immediate market reaction. The job cuts are central to the new CEO’s turnaround plan and signal cost discipline across consumer staples.
Fed officials are divided over the pace of easing as incoming data points conflict. Waller signaled a quarter-point move; others argue for a larger cut, underscoring a delicate policy handoff.
The shutdown is starting to cut into the muscle of the economy.
— Treasury Secretary Scott Bessent
Safe-haven flows and shifting rate expectations lifted gold to new records while silver rallied to fresh highs. Precious metals gains reflected dovish Fed commentary and trade-war uncertainty.
Russian strikes have knocked out power in parts of Ukraine, prompting Kyiv to press for more Western air defenses. Separately, Ukraine says North Korean personnel are operating reconnaissance drones on Russian lines.
Steps to implement the Gaza ceasefire proceed amid disputes over returned remains and the pace of reconstruction. Israel also claimed responsibility for a strike that killed a Houthi military chief, widening regional tensions.
BlackRock launched a vehicle aimed at stablecoin reserve management as institutional demand climbs. The broader stablecoin market has surged, underscoring rapid adoption and regulatory focus.
Banks enjoyed a trading windfall as markets rallied on strong tech earnings, while AI spending underpinned sector momentum. The gains masked broader macro worries tied to trade and policy risks.
A DoD cancellation roiled rare-earth and battery-metal stocks after a planned cobalt purchase was pulled. Treasury officials also floated the idea of taking strategic stakes to secure critical-minerals supply chains.
Amazon flagged that AI-first startups are substituting model spend for traditional cloud budgets, pressuring AWS revenue patterns. Meanwhile, major cloud providers are shifting production away from China amid trade risk.
Kraken moved to expand regulated U.S. derivatives capacity by acquiring a licensed exchange, positioning itself to offer onshore futures. The deal accelerates crypto players’ push into compliant U.S. markets.
President Trump held a call with Vladimir Putin as U.S. diplomacy focuses on an exit from the Ukraine war; the conversation drew global attention. Separately, the White House said it authorized covert CIA actions in Venezuela, escalating regional tensions.
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