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Stocks closed mixed-to-strong after the Fed’s third rate cut, with the Dow and S&P 500 hitting record highs while the Nasdaq lagged on AI‑name volatility. Investors rotated into banks, industrials and travel, cheered Broadcom’s AI chip strength, but Oracle and some chip-related names sparked sharp intraday selloffs, keeping volatility elevated.
The Fed cut rates again while moving to reassure markets by reappointing regional bank presidents. The moves aim to stabilize policy direction amid political scrutiny and a divided Fed as markets eye the 2026 outlook.
28% – Broadcom’s year‑over‑year Q4 revenue growth, to $18 billion.
Disney’s $1 billion equity bet on OpenAI and OpenAI’s GPT-5.2 launch accelerate the convergence of Hollywood IP and advanced AI models. The pairing reshapes content licensing, raises industry guard-rails and intensifies the tech-media arms race.
Oracle’s results and aggressive AI spending spooked investors, triggering a sharp share selloff. The episode has roiled sentiment across AI and cloud names, reviving fears of overspending in the data‑center race.
Costco tops Wall Street on holiday demand
Costco beat sales and revenue estimates as shoppers ramp up holiday spending, signalling resilient consumer demand and a bullish holiday season for warehouse retailers.
More on cnbc.com
Broadcom posted a blowout quarter as demand for custom AI chips lifted sales and profit. Management signalled continued momentum, forecasting Q1 revenue ahead of Street estimates on strong AI backlog.
Rivian unveiled an in-house autonomy chip and a roadmap for full self‑driving, prompting a volatile market reaction. Investors punished near-term risk, sending shares lower despite the strategic pivot away from third‑party silicon.
Robinhood stock slides 8% after November volume collapse
Robinhood plunged as trading volumes fell sharply in November, stoking worries about the brokerage’s revenue mix and sensitivity to crypto market swings.
More on coindesk.com
Reports that SpaceX is preparing a 2026 IPO resurfaced after Elon Musk signalled the news was accurate. The prospect of a Musk‑led public debut has markets and investors recalibrating valuations for space and satellite assets.
U.S. forces seized an oil tanker off Venezuela, escalating tensions with Caracas and prompting targeted sanctions on Maduro allies. Washington’s pressure campaign includes seizures and financial penalties aimed at the regime’s energy revenues.
White House issued guidance blocking state AI rules and signalled federal limits on local AI regulation; the Fed reappointed regional bank presidents to calm concerns about political interference; DOT updated airline compensation guidance amid aircraft recalls.
Democrats say tariff measures have raised costs for households while official data show the trade deficit narrowed amid shifting imports and exports. The political fight over tariffs is intensifying as policymakers tout different economic indicators.
The Senate rejected measures to extend COVID-era ACA premium tax credits, leaving millions exposed to higher costs. Lawmakers voted down competing bills, raising urgency ahead of the subsidy expiration.
This is an opportunity, not a threat.
— Bob Iger
Major U.S. indexes closed at fresh highs as investors rotated away from some megacap tech names. The record closes reflect broadening strength even as AI‑sector jitters keep volatility elevated in parts of the market.
Regulators and banks are advancing tokenization pilots and blockchain-based funding, pushing traditional finance toward on‑chain settlement. The moves—from SEC approvals to JP Morgan’s Solana issuance—signal institutional embrace of tokenized markets.
Terraform founder Do Kwon was sentenced to 15 years, closing a major chapter in the 2022 crypto collapse. The case highlighted systemic risks in algorithmic stablecoins and drew heavy regulatory scrutiny of crypto founders.
Federal prosecutors repeatedly failed to secure new indictments against New York Attorney General Letitia James, a high‑profile Trump target. Grand juries have declined to return charges, marking a major setback for the DOJ’s cases.
Disney’s licensing pact with OpenAI lets creators use more than 200 characters in Sora, reshaping content distribution and AI-generated media. Bob Iger framed the deal as strategic participation, not a threat to creative roles.
The EU is stepping up enforcement on alleged unfair Chinese state subsidies, including raids on Temu’s European offices. Brussels is tightening foreign‑investment scrutiny as geopolitical trade tensions rise.
U.S. lawmakers and regulators are scrutinizing Nvidia chip exports to China as policymakers debate national‑security risks. At the same time, Chinese tech buyers are reported to be lining up for high‑end H200 processors.
Lululemon announced CEO Calvin McDonald will step down in January after a tough year, and the stock jumped on mixed but hopeful results. The leadership change underscores pressure on retail execs to restore growth.
Coinbase is preparing new products for prediction markets and tokenized stocks while rolling out x402 V2 for AI agent payments. The moves highlight crypto platforms pivoting to infrastructure for AI commerce and tokenized financial services.
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