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Markets are mixed but resilient: the S&P 500 and Nasdaq held gains while the Dow climbed on cyclical strength. Volatility ticked up as bank credit worries weighed on financials and gold rallied on risk-off flows. AI and chip names led sector rotation after TSMC’s upbeat outlook, while tariffs and geopolitical headlines remain key catalysts.
Ukrainian president Volodymyr Zelenskyy met President Trump at the White House as Kyiv pressed for long-range Tomahawk missiles. Reports indicate a tense discussion with Trump stopping short of approving the request.
41 – Russian defenses say they downed 41 Ukrainian drones overnight.
President Trump issued a high-profile commutation for former Rep. George Santos, immediately releasing him from a seven-year sentence. The move provoked bipartisan backlash and political questions about clemency standards.
Former national security adviser John Bolton was indicted on charges linked to classified materials and surrendered to authorities. The case adds to a string of legal actions involving high-profile Trump-era figures.
American Express Posts Record Revenue — Premium Spend Drives Surge
American Express reported record quarterly revenue as affluent millennial and Gen-Z cardholders boosted high-end spending, lifting profits and raising its outlook.
More on abcnews.go.com
The US government shutdown is starting to bite: federal courts warn funds will run out and scale-back plans are announced. The Army Corps of Engineers paused roughly $11 billion in projects as funding dries up.
Credit worries at regional banks have rattled markets after revelations of souring corporate lending. Investors are probing loan books and the potential for contagion across the financial sector.
Broadcom Cuts Staff in Sales, Accounts Units – Layoffs Hit
Broadcom trimmed headcount across sales and account-management roles, signalling cost pressure even as demand for AI infrastructure remains strong.
More on businessinsider.com
Nvidia’s China exposure has plummeted, according to CEO Jensen Huang, even as the company and TSMC roll out next-gen Blackwell wafers made in the US. The moves underscore global supply-chain shifts in chipmaking.
Semiconductor stocks jumped after TSMC lifted its outlook and signalled strong AI-driven demand. The rally highlights continued investor appetite for chipmakers despite geopolitical headwinds.
White House signed a proclamation imposing a 25% tariff on medium‑ and heavy‑duty trucks while extending exemptions for some auto parts; the US also blocked a proposed global shipping emissions levy, reshaping trade and climate policy.
Meta previewed and then rolled out parental controls that let guardians monitor and restrict teens’ interactions with AI characters. The changes respond to safety concerns and regulatory scrutiny over kids’ AI exposure.
OpenAI paused and banned certain AI-generated videos of Martin Luther King Jr. on its Sora app after complaints about offensive deepfakes. The company moved quickly amid public outcry and estate intervention.
“We are 100% out of China.”
— Jensen Huang, Nvidia CEO
Meta secured a massive private-capital package to finance its Hyperion AI supercluster, marking one of the biggest non-bank data-center financings. The deal signals how hyperscalers are monetizing AI infrastructure growth.
S&P carried out a fresh downgrade of France’s sovereign rating, citing mounting debt and fiscal risks. The move intensifies pressure on Paris as political instability complicates budget consolidation.
A planned global levy on shipping emissions stalled after strong U.S. opposition and threats of retaliation. The collapse highlights friction between climate goals and trade-policy brinkmanship.
The FAA approved a higher production cap for Boeing’s 737 MAX, allowing output to rise to 42 jets per month. Regulators signalled confidence after fixes and inspections that followed a high-profile in-flight panel failure.
Beijing and Washington agreed to another round of trade talks even as tensions over rare earths and export controls simmer. Officials in China moved to calm markets after measures on critical minerals stoked global alarm.
The White House signed a 25% tariff on medium and heavy trucks while extending relief for automakers on some parts. The tariff moves aim to re-shore production but raise costs for global supply chains.
A U.S. jury found BNP Paribas liable for damages over its alleged role in Sudan, a bellwether ruling that could trigger wider claims. The verdict may open the door to significant liability for global banks tied to contentious regions.
CoreWeave’s planned $5 billion deal faltered as yet another investor stepped back, raising doubts about the company’s acquisition strategy amid AI market scrutiny. The pullback underscores investor caution around high-priced cloud-infrastructure deals.
Analysts and pundits are debating whether the AI boom has gone too far, with stark estimates and growing worries about speculative excess. The divide between bullish fundamentals and bubble warnings is shaping investor behavior.
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