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Markets tread a cautious path as the S&P 500 sits near record highs while Nasdaq shows rotation into AI and megacaps and the Dow outperforms on industrial strength. Volatility ticked up after gold’s sharp sell-off and the AWS outage; tech, defense and energy names led gains while miners and precious-metals plays plunged amid profit-taking.
Bullion’s blistering rally reversed as gold futures plunged, dragging major producers lower. The sudden metal sell-off sparked panic in mining stocks and raised questions about whether the decade-long surge in safe-haven demand has peaked.
6% – One-day plunge in gold, the largest since 2013.
A massive Amazon Web Services outage knocked major websites and services offline and exposed a concentrated internet chokepoint in Northern Virginia. The disruption prompted scrutiny of cloud reliance and spurred short-term recovery work and contingency talks.
Warner Bros. Discovery has launched a strategic review after drawing suitor interest, signaling a possible outright sale. The move has sent shares higher and opened a potential bidding process for one of Hollywood’s biggest studios.
Apple hits all-time high on strong iPhone 17 demand
Apple climbed to record market value as iPhone 17 sales surged in the U.S. and China, driving upside across services and hardware metrics and lifting investor confidence.
More on fastcompany.com
The U.S. government shutdown has stretched into a third week, disrupting services and delaying key economic reports. States warned that program funding — notably SNAP — could be interrupted if lawmakers don’t reopen federal funding.
The White House signed a major US-Australia critical-minerals pact to reduce reliance on Chinese rare-earths and boost domestic supply chains. Markets cheered miners and related industries as governments move to secure strategic inputs for tech and defense.
CoreWeave deal for Core Scientific in jeopardy — shareholder opposition mounts
CoreWeave’s proposed $9bn acquisition of Core Scientific faces growing resistance from key shareholders, threatening a major consolidation in AI-data-center and crypto infrastructure markets.
More on barrons.com
General Motors beat expectations and lifted guidance, sparking a dramatic rally in its stock. Investors reacted to a brighter tariff outlook and stronger truck demand, pushing GM to multiyear highs.
Internal documents and leaks show Amazon plotting accelerated automation across warehouses and operations, potentially threatening hundreds of thousands of U.S. roles. The revelations intensified debate over labor disruption and the pace of robot deployment.
Major policy moves: U.S.-Australia $8.5bn critical-minerals deal to curb China’s leverage; EU accelerates Chips Act review to early 2026; U.S. delays on summit-level diplomacy prompt tighter export-control talks.
Anthropic moved to blunt political attacks after criticism from White House AI officials, with its CEO publicly rebutting claims. The startup is seeking to shore up regulatory credibility as scrutiny of AI firms intensifies.
Vice President JD Vance arrived in Israel to shore up a fragile Gaza ceasefire and unveiled a U.S.-Israel coordination center to help rebuild Gaza. The trip underscores Washington’s active role in stabilizing the truce amid renewed flare-ups.
Alarm bells are ringing — the private-credit market warrants close scrutiny before risks spread.
— Andrew Bailey, Bank of England Governor
Ukraine and European partners worked on a multi-point peace framework aimed at freezing front lines and anchoring future negotiations. Leaders sought a diplomatic text that could be the basis for talks even as battlefield violence continues.
OpenAI has hired dozens of former investment bankers to train models on financial tasks, and documents reveal pay rates and scope. The move highlights rapid AI encroachment into finance and raises questions about model training sources and risks.
Hologic agreed to be acquired in a take-private deal led by Blackstone and TPG, valuing the women’s-health company at about $18.3 billion. The transaction underscores heavy private-equity firepower amid record dry powder.
Japan made history by selecting Sanae Takaichi as its first female prime minister, a hawkish conservative whose economic tilt lifted markets. Investors priced in ‘Sanaenomics’ moves — defence spending and pro-growth reforms — sending the Nikkei higher.
SpaceX delays on Starship have prompted NASA to reopen a high-profile Artemis III lunar contract to rival bidders. The agency’s move signals growing concern about schedule risk and a shift toward competition for crewed moon missions.
Russia intensified drone and missile strikes on Ukraine’s power grid as winter approaches, while Kyiv warned Moscow is cooling on diplomacy. The escalation increases humanitarian and infrastructure risks across contested regions.
The Bank of England is warning that private-credit practices risk echoing 2008-era vulnerabilities, flagging systemic concerns. Policymakers urged closer scrutiny of non-bank lending as stress in credit markets and firm failures mount.
Coinbase agreed to buy Echo, a crypto fundraising platform, for about $375 million to broaden its product set. The acquisition signals consolidation in crypto infrastructure as firms race to add offerings for token issuers and Web3 projects.
Digital assets rebounded as gold sold off, with bitcoin rising back above six figures amid rotation into crypto. Traders noted renewed institutional appetite as precious metals plunged, lifting key tokens and derivatives activity.
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