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Market Summary

Markets turned volatile as weak jobs data and a crude price slide weighed on risk assets. The S&P 500 slipped on cyclical weakness, the Nasdaq bounced late after tech‑specific headlines, and the Dow fell sharply on broad risk‑off flows. Energy and AI infrastructure names led sector swings while bond yields drifted lower, leaving traders cautious.

The delayed U.S. jobs reports show a cooling labour market: modest payroll gains alongside a rising unemployment rate. These pieces together signal growing uncertainty for Fed rate decisions and markets.

Figure of the Day

4.6% – U.S. unemployment rate, highest in four years.

Federal Reserve transmission is drawing scrutiny as new research argues policy is losing bite. Markets and policymakers are assessing whether rate signals still pass through to the real economy.

Ford announced a sweeping retreat from large EV bets and booked a multibillion‑dollar charge, signaling industry re‑trade under changing demand and policy. The move crystallizes auto makers’ shift to hybrids and smaller EVs.

Bullish

Adobe Cloud Beats Estimates on Firefly Rollout

Adobe’s enterprise cloud revenue topped forecasts as Firefly-driven customer deals accelerate — management signals margin leverage ahead in 2026.

OpenAI is beefing up global policy and product firepower with senior hires while accelerating model releases. The company’s twin push — talent for government relations and faster image models — reflects an aggressive growth and defense posture.

Databricks’ massive funding round underscores private capital chasing AI infrastructure and raises fresh IPO talk. The company’s valuation jump is reshaping the competitive landscape for cloud and analytics vendors.

Bearish

Major Retailer Hit With Massive Data Breach – Millions Exposed

A multinational retail chain disclosed a breach exposing customer data and payment details, warning of regulatory fines and sharp reputational damage ahead of holiday season.

U.S.-negotiated security guarantees for Ukraine are emerging as a central element in peace talks, with Kyiv hopeful proposals will be presented to Moscow soon. The diplomatic push could reshape military and financial support arrangements.

Australian authorities say the Bondi Beach massacre was inspired by Islamist extremism, as victims include a wide age range and symbolism. The attack has sparked an international security and community safety response.

Regulatory Impact

Regulatory moves accelerate: FDIC unveils a stablecoin application framework under the GENIUS Act, Bank of Canada seeks to back stablecoins with high‑quality liquid assets, and the EU is set to water down its 2035 combustion‑engine ban after industry pressure.

Oil markets plunged as supply concerns and ceasefire hopes weigh on demand prospects, dragging energy stocks lower. The move is feeding through to commodity and equity volatility worldwide.

Stablecoins are moving into the mainstream settlement plumbing even as regulators race to set rules. Banks and payment giants are testing token rails while U.S. agencies propose the first stablecoin application frameworks.

Quote

The White House must distance itself from the Fed to protect the central bank’s credibility.

— Ken Griffin

Markets swung sharply in response to economic and geopolitical news: heavy early losses tipped the Dow into a steep drop while techs staged a late rebound. Traders remain on edge ahead of policy signals and jobs data.

President Trump intensified legal and political battles: a blockbuster lawsuit against the BBC and fresh disclosures about pre‑raid FBI warnings. Both actions sharpen legal and political risks for the administration.

Explosive Vanity Fair interviews with Susie Wiles have forced the White House into damage control. The revelations expose internal tensions and raise questions about messaging and discipline at the top of the administration.

iRobot’s Chapter 11 filing marks a high‑profile casualty of shifting consumer demand and supply pressures in robotics. The bankruptcy raises questions about future consolidation in consumer robotics and supplier exposure.

Authorities and the FBI are appealing for public help after a classroom shooting at Brown University, with investigators releasing video of a person of interest. The case has heightened security on campuses and renewed debate on gun violence.

CoreWeave’s fall is rattling confidence in AI infrastructure providers as investors reassess demand and margins for GPU hosting. The episode raises systemic questions about the sustainability of the AI hardware boom.

Crypto markets keep evolving with institutional products and bullish forecasts: spot XRP ETFs have seen rapid inflows while asset managers predict structural gains for bitcoin next year. The moves underscore crypto’s growing ties to institutional flows.

Lawmakers are probing the electricity footprint of AI data centres as communities push back on rapid build-outs. The debate links tech expansion, grid stress and regulatory scrutiny across jurisdictions.

Regulatory clearance cleared the path for a major mining combination that consolidates copper capacity for global supply chains. The Ottawa signoff reflects political tradeoffs and concessions needed to greenlight mega‑deals.

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