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Stocks rallied on renewed Fed rate-cut bets: the S&P 500 and Nasdaq climbed as traders priced easing, while the Dow led with a 660-point gain. Volatility eased but tech was mixed — Nvidia lagged amid Google chip headlines even as retail and cyclicals outperformed. Key catalysts: AI chip rivalry, Ukraine peace progress, and weaker consumer confidence.
Meta’s talks to buy Google AI chips have kicked the AI-infrastructure battle into overdrive, forcing Nvidia to respond publicly. The two reports capture an accelerating shift as cloud customers test alternatives to Nvidia GPUs.
660 – Dow climbed 660 points as markets rallied on rising Fed rate-cut hopes.
Google’s Gemini 3 launch and model upgrades have jolted markets, reviving Alphabet’s AI narrative. Investors are repricing the company as a potential challenger to Nvidia’s chip dominance.
News of rivals’ chip deals sent Nvidia shares tumbling and erased hundreds of billions in market value. Traders are rebalancing AI exposure amid growing doubts about GPU exclusivity.
Best Buy raises sales outlook as holiday demand holds
Best Buy lifted its sales and profit outlook on resilient consumer tech spending, signaling upside for retailers during the critical holiday quarter.
More on theglobeandmail.com
Governments are increasingly shaping the AI race — the White House is quietly favoring winners while the UK centers growth strategy on AI and compute. Policy and procurement moves are now a core competitive axis for tech giants.
New reporting links a Trump envoy to Kremlin discussions as Washington pushes a US-brokered Ukraine peace plan. Kyiv’s acceptance of core terms has elevated diplomatic momentum and market attention.
Nutanix misses estimates, cuts FY26 guidance — shares plunge
Nutanix reported a Q1 miss and trimmed full-year revenue guidance, triggering a sharp after-hours selloff and renewed scrutiny of software vendors’ margins.
More on benzinga.com
The Pentagon and federal investigators have widened scrutiny of elected officials tied to a video urging troops to disobey ‘illegal orders.’ The probes risk escalating political and legal tensions in Washington.
Kevin Hassett has surged to the front of markets’ and Washington’s Fed-chair betting lists, prompting fresh attention on policy direction. Markets are watching for a nominee that would reshape rate-cut expectations.
U.S. announced negotiated Medicare prices for 15 drugs; CFTC issued approvals enabling Polymarket’s US return; Canada paused plans for mandatory climate disclosures; UK set AI-centered procurement and raised minimum wage guidance ahead of its budget.
HP announced major job cuts tied to an AI restructuring and delivered mixed results, rattling investors. The cost cuts and downgraded profit outlook underscore risks for legacy PC and printer firms as memory prices spike.
Dell is seeing AI infrastructure demand lift results but revenue misses and mixed signals leave investors cautious. The company’s outlook leans heavily on continued server demand tied to large-model deployments.
“AI is going everywhere, doing everything.”
— Jensen Huang, Nvidia CEO
ByHeart warned that all lots of its infant formula may be contaminated with botulism, prompting wider recalls and regulatory scrutiny. The development threatens supply chains and raises public-health alarm ahead of the holidays.
Families of October 7 victims filed U.S. suits alleging Binance enabled terror financing, escalating legal pressure on the largest crypto exchange. The cases add to a mounting regulatory and litigation burden for crypto platforms.
Polymarket secured a CFTC designation allowing it to restart in the U.S., signaling a regulatory pathway for prediction markets. The approval could revive a previously banned corner of crypto trading under a regulated structure.
Apple is set to reclaim the top global smartphone spot while quietly cutting staff in a rare, targeted cull. The contrast underscores strong product performance alongside selective cost discipline.
Alibaba’s cloud unit is struggling to keep pace with AI demand even as the group posts modest revenue gains. The capacity shortfall highlights broader constraints across China’s AI infrastructure market.
Taiwan’s leadership is moving to dramatically boost defense spending amid rising China tensions, preparing a $40 billion package. The pledge signals a big regional rearmament that could shift supply and procurement markets.
Brazil’s former president has been ordered to begin a long prison term for plotting a coup, marking a rare legal reckoning for a major political figure. The sentence could reshape domestic politics and investor sentiment in Latin America.
Markets reacted to signs of diplomatic progress on Ukraine by trimming crude prices, reflecting lower near-term risk premia. Energy traders are parsing peace-talk headlines alongside macro signals for demand.
Asia markets climbed as weaker US data boosted Fed rate-cut expectations, while US consumer confidence slumped. The divergence points to a market still driven by policy bets even as the real economy shows stress.
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