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Stocks were buoyed by AI deal headlines: the S&P 500 and Nasdaq rose while the Dow lagged as investors rotated into tech. Volatility ticked up in crypto and energy; Nvidia and cloud names led gains, but macro risks — the US shutdown and sticky inflation — kept traders cautious.
OpenAI inks a mega seven‑year cloud pact with Amazon for massive AI compute. The deal locks up extensive AWS capacity and reshapes the cloud competitive landscape.
38bn – Size of OpenAI’s seven‑year cloud computing purchase from Amazon.
Federal food aid is in flux as the shutdown drags on — millions face reduced SNAP benefits. The administration says it will use contingency funds to cover partial payments amid court orders and political fights.
The Supreme Court will weigh the legality of President Trump’s tariffs in a high‑stakes test of presidential trade power. Treasury and administration officials are personally involved as the case grabs business and market attention.
Apple Flies Past $100B Profit Milestone: Services Power the Surge
Apple posted a historic $100 billion profit mark, driven by higher‑margin services and recurring subscription revenue, highlighting resilience amid macro uncertainty.
More on statista.com
Washington tightens controls on cutting‑edge AI chips while companies find routes to export compute. Moves to keep top GPUs domestic clash with approved shipments abroad, creating fresh geopolitical risk for supply chains.
Amazon’s AI tie‑ups are rippling through markets, lifting its stock and boosting suppliers. Cloud deals with OpenAI have also powered gains for ancillary AI infrastructure firms.
Sarepta Stock Crashes After Duchenne Trials Fail: Drug Outlook Collapses
Sarepta plunged after late‑stage tests for its Duchenne muscular dystrophy therapies missed primary endpoints, raising doubt over the company’s pipeline and prompting steep selloffs.
More on investors.com
Palantir posted blockbuster Q3 revenue and raised its outlook as defense and commercial AI demand surged. Management pitched stronger guidance, sending investors back to a fast‑growing software play.
Kimberly‑Clark moves to acquire Kenvue in a multibillion dollar bet that consolidates OTC and consumer health brands. The deal reunites household names and tests investor appetite amid political scrutiny over Tylenol.
U.S. moves to restrict exports of top‑tier AI GPUs; China offers steep power subsidies to favour local chips; administration will tap contingency funds to partially fund SNAP; EU eyes tighter crypto and digital‑asset oversight.
Starbucks agrees to sell a controlling stake in its China business, reshaping its global growth play. The move outsources operations to local private equity while investors watch for execution risk in the world’s biggest coffee market.
Wall Street chiefs warn valuations are stretched and a pullback could be imminent as AI concentration fuels market distortion. Insurers and bankers flag private credit and rating risks as leverage climbs.
I don’t know who he is
— President Donald Trump
Australia’s central bank held rates and signalled inflation may remain above target, tempering hopes for early cuts. Officials warned that core inflation will stay sticky, keeping markets cautious.
China is offering steep power subsidies to coax firms into using domestic AI chips, accelerating its chip self‑reliance drive. Policymakers aim to tilt the hardware market toward local suppliers with generous energy grants.
Crypto markets plunged with leveraged traders facing large liquidations as Bitcoin and Ether slid. The sell‑off erased over $1 billion in long bets, heightening volatility in digital assets.
The government shutdown is disrupting travel and holiday plans as delays and staffing gaps mount at airports. The travel industry and consumer groups warn Congress a prolonged impasse could trigger Thanksgiving chaos.
Microsoft is extending major cloud and capacity commitments, pairing large contracts with deep UAE investment. The moves underline a global scramble to secure AI compute and geopolitical footholds in the Gulf.
OPEC+ adjusted output plans to blunt an expected oil glut, prompting a mixed market reaction. Producers signalled a modest rise in supply now and a pause next quarter to stabilize prices.
A huge Chinese‑backed mine in Guinea — Simandou — looks set to reshape the iron‑ore industry. First shipments and new partnerships threaten to reconfigure global mining power balances.
The US has circulated a UN draft seeking approval for a two‑year international security force in Gaza. Washington is pushing for a multilateral approach to stabilize the enclave amid volatile ceasefire dynamics.
Coeur Mining agreed to buy New Gold in a sizable all‑stock deal as consolidation hits the gold sector. Investors reacted nervously to the takeover price and acquirer’s shares slid on deal concerns.
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