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Markets retreated as megacap tech earnings and central-bank signals collided: the S&P 500 and Nasdaq weakened while the Dow held relatively firmer. Volatility rose as AI capex headlines supported chip names but heavy spending guidance pressured social-media and cloud stocks. Safe havens outperformed; energy and staples showed relative strength amid the risk-off tone.
Leaders struck a fragile trade truce at the Trump–Xi meeting, with concrete agricultural buys to placate U.S. farm states. The accords aim to ease tariff tensions but leave many export controls and supply-chain questions unresolved.
5 trillion – Nvidia becomes the first company to hit a $5 trillion market valuation.
The White House ordered a controversial restart of nuclear testing, prompting immediate global concern. The UN and allies warned the move risks escalating an arms race and destabilising already tense geopolitics.
The Federal Reserve cut rates, reaffirming support for growth, but Chair Powell tempered expectations for future moves. Markets reacted to the dual message of easing now and caution about more cuts later.
Eli Lilly beats estimates — obesity drugs power results
Eli Lilly topped Q3 expectations as blockbuster weight-loss and diabetes drugs drove revenue and lifted its outlook, reinforcing demand in the fast-growing GLP-1 market.
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Nvidia’s stock surge put the chipmaker in rarefied air, creating new billionaires and reshaping market leadership. The run-up reflects investor conviction that Nvidia will remain central to the AI hardware cycle.
Apple reported stronger-than-expected fiscal Q4 results and offered bullish holiday guidance for iPhone sales. The results underscore resilience in hardware and recurring services despite regional softness.
Fiserv plunges 44% after abysmal quarter
Payments firm Fiserv plunged after a sharply negative earnings update and a collapse in investor confidence, wiping nearly half its market value in one session.
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Amazon posted a strong quarter driven by a rebound in AWS and solid retail sales, sending shares higher after hours. Cloud acceleration remains the key catalyst for the stock and wider tech capex narratives.
Meta’s results highlighted the company’s pivot into AI but warned investors about sharply higher spending. Management also moved to tap the bond market to fund an aggressive capex plan for AI infrastructure.
Key shifts: a one-year US-China trade truce with tariff rollbacks and a rare-earth export pause by China; the US set refugee admissions to 7,500 for 2026; new rules narrow Public Service Loan Forgiveness eligibility and SNAP funding faces disruption amid the shutdown.
OpenAI is laying groundwork for a mega-IPO as it expands product set and builds security tooling. The company’s moves signal a plan to monetise broad enterprise demand while addressing safety and regulatory scrutiny.
The U.S. government shutdown pushed SNAP funding to the brink and forced temporary fixes for military pay. States and local leaders scrambled to protect social services as federal aid teetered.
I have instructed the Pentagon to resume testing immediately.
— President Donald Trump
Investors pared back risk as megacap tech results disappointed in places and guidance worried markets. The pullback was led by information-technology indices and sharpened volatility across growth names.
Crypto markets saw wild swings as major platforms reported strong revenue while bitcoin slid below key support. The divergence underscores heightened trading volumes and continuing fragility in crypto prices.
Netflix announced a 10-for-1 stock split to broaden ownership after a multi-year rally in its shares. The corporate action triggered short-term buying and reinforced employee equity value.
Hurricane Melissa’s landfall will trigger catastrophe bond payouts and left a trail of devastation across Jamaica and neighbouring islands. Images and satellite data underscored the storm’s severity and recovery needs.
Amazon’s latest cost cuts hit the Bay Area hard as the company trims hundreds of corporate roles. The layoffs add to a wave of tech job reductions and raise questions about talent and regional impacts.
A proposed $9 billion all-stock merger for Core Scientific collapsed after shareholders and advisers balked. The failed vote leaves the bitcoin miner independent but may cloud plans for rapid AI-data centre expansion.
The European Central Bank left policy unchanged, citing steady growth and mixed inflation signals. Policymakers warned December could pose a test as inflation dynamics and trade frictions evolve.
Big tech poured record sums into AI infrastructure, a trend reshaping capex and cloud markets. Alphabet’s plan to sharply increase capital expenditure highlights the scale of the AI investment cycle.
Russian strikes on Ukrainian power infrastructure deepened outages and casualties, intensifying wartime damage to energy systems. Simultaneously, Sudan’s El Fasher fell amid fierce RSF advances, fuelling humanitarian alarms.
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