Markets swung wildly as AI and crypto worries met a fresh dovish signal from the New York Fed. The S&P 500 jumped on rate-cut hopes, the Nasdaq bounced after heavy tech selling, and the Dow closed higher as cyclical names rallied. Chipmakers and crypto-linked stocks led volatility while Treasury yields fell on growing Fed easing bets.
A high-profile Oval Office meeting between President Trump and New York City mayor-elect Zohran Mamdani foregrounds bipartisan cooperation on affordability and utility rates. The pair signaled pragmatic alignment despite prior public antagonism, with market consequences for local utilities.
$1T – Eli Lilly briefly reached a $1 trillion market valuation, the first major pharma to hit the milestone.
The U.S. has pressed Ukraine to accept a draft peace plan rapidly, prompting alarm among European allies and Kyiv. Officials warned that pressure from Washington could force Kyiv into concessions that risk its diplomatic standing.
The White House is weighing a policy shift to allow sales of Nvidia H200 chips to China, a potential turn in U.S. export controls. Markets and industry actors are parsing the move for its implications on supply, valuation and U.S.-China tech relations.
AstraZeneca to Invest $2B in Maryland Facilities – U.S. Manufacturing Boost
AstraZeneca will plow $2 billion into Maryland production capacity to expand cancer and rare-disease manufacturing, strengthening U.S. biotech supply chains and adding local jobs.
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Federal prosecutors have charged multiple people in alleged schemes to smuggle restricted Nvidia AI chips to China, highlighting persistent export-control risks. Investigations point to front companies and falsified paperwork used to evade U.S. rules.
Nvidia’s blowout earnings failed to calm markets as investors sold off AI and crypto-linked names, underscoring fragile sentiment. The disconnect between corporate results and market action has kept volatility high across global equities.
AnaptysBio Stock Buckles After Legal Barbs With GSK
AnaptysBio shares plunged after the biotech and GSK filed competing lawsuits over a licensing deal, adding litigation risk to a company already under investor scrutiny.
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Cryptocurrency markets suffered sharp outflows from ETFs and a broader rout that wiped hundreds of billions from valuations. The declines have triggered liquidations and heightened systemic worry across crypto-linked equities.
U.S. data gaps intensified after the Bureau of Labor Statistics canceled October’s CPI release due to the shutdown, raising uncertainty before the Fed’s December meeting. Economists warn missing inflation data complicates policy decisions and markets.
BLS canceled the October CPI release; the FCC rescinded telecom cybersecurity requirements; the White House paused a draft executive order to preempt state AI laws amid bipartisan backlash.
Beijing-based Moonshot AI is raising several hundred million dollars at roughly a $4 billion valuation and eyeing an IPO in 2026. The fundraise underlines continued appetite for Chinese generative AI despite geopolitical scrutiny.
SpaceX’s upgraded Starship booster suffered a destructive failure during ground testing in South Texas, dealing a setback to the Starship V3 program. The mishap will likely delay flight schedules and raise scrutiny of rapid development cycles.
“We’ve been pushed into a no‑win situation amid AI‑bubble chatter.”
— Jensen Huang, Nvidia CEO (leaked comment)
Negotiations at UN climate talks stalled over fossil-fuel phaseout language, forcing overtime and exposing rifts between big emitters and developing nations. The stalemate signals tougher diplomacy ahead at COP processes.
Canada Post reported heavy quarterly losses and said labour disruptions worsened its finances, escalating concerns about solvency. A tentative deal later suspended strike activity but the crown corporation still seeks short-term financing.
Tyson Foods will close a major Nebraska beef-processing plant and reorganize its U.S. beef network after heavy operating losses. The moves underscore strain across protein supply chains and will ripple through cattle markets.
A supply-chain hack via Gainsight prompted Salesforce to cut connections to affected applications while investigators assess the scale. Google confirmed hackers accessed Salesforce-stored data for 200+ companies, intensifying enterprise security concerns.
The FCC voted to roll back telecom cybersecurity requirements, a move critics say weakens protections for phone and internet carriers at a time of heightened Chinese cyber activity. The repeal has drawn bipartisan concern about national resilience.
Netflix, Comcast and Paramount submitted bids for Warner Bros. Discovery, sparking a high-stakes auction for studios and streaming assets. Potential buyers face regulatory and political hurdles that could delay or complicate any deal.
Eli Lilly surged to a historic market valuation driven by blockbuster GLP-1 weight-loss drugs, briefly joining the $1 trillion club. The milestone reshapes health-care sector valuations and investor attention.
Waymo received California approval to expand robotaxi service across the Bay Area and to Sacramento, signaling a major step toward scaled autonomous rides. The decision accelerates commercialization plans and raises regulatory and infrastructure questions.
The Justice Department sued California to block in-state tuition for undocumented students, sharpening federal-state clashes over immigration. Separately, a judge barred the IRS from sharing data with DHS for immigration enforcement, complicating federal enforcement plans.