The Finimize Daily Brief (Finimize)

India’s stocks stumbled after the country’s election, while Bill Ackman sold a 10% stake in Pershing Square.

Today’s stories:

• India’s Wild Ride To New Market Highs Hit A Stomach-Dropping Pothole
• Bill Ackman Sold A 10% Stake In Pershing Square Ahead Of A Potential IPO

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Activist hedge fund Elliott Investment Management targeted SoftBank, while China’s exporting spree might have sparked another round of tariffs.

Today’s stories:

• Activist Investor Elliott Management Wants To Whip SoftBank Into Shape
• China’s Exporters Have Branched Out Beyond High-Tech Products, Risking Even More Tariffs

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The ECB cut interest rates for the first time since 2019, while the NBA is reportedly close to sealing media rights deals worth $76 billion.

Today’s stories: 

• The ECB Took A Step Toward Lower Interest Rates, With Its First Trim Since 2019
• The NBA Could Score A Three-Pointer, Negotiating Deals With Multiple Networks

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The US added more jobs than expected in May, while Nvidia investors have more shares each after the firm’s ten-to-one stock split.

Today’s stories: 

• The US Economy Beat Job Expectations Again, But More Might Not Be Merrier
• Nvidia Investors Have Ten Times As Many Shares Each After The Firm’s Stock Split

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The S&P 500 is reshuffling, adding private investment and software firms, while insurers are using bonds to brace for a tough hurricane season.

Today’s stories: 

• The S&P 500 Is Booting Out The Old And Bringing In The New
• Insurers Are Battening Down The Hatches, Issuing Catastrophe Bonds

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Apple revealed its very own AI system for the first time, while Elliott Investment Management snapped up shares in Southwest Airlines.

Today’s stories: 

• Apple Launched Its Own AI System To Compete With (Artificially) Intelligent Rivals
• Activist Fund Elliott Management Purchased A Stake In Southwest Airlines

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The Fed signaled that investors might have to wait longer for a rate cut, while the World Bank hiked its forecast for the global economy.

Today’s stories: 

• The Fed Signaled That There Might Be Just One Rate Cut This Year
• The World Bank Lifted Its Global Growth Outlook For The Year

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Europe announced fresh tariffs on Chinese EVs, while the latest dip in the eurozone’s industrial sector suggested a fragile recovery.

Today’s stories: 

• The European Union Announced Fresh Tariffs On Chinese EVs
• Industrial Output In The Eurozone Dipped, But The Region’s Stocks Could Still Stand A Chance

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Keith Gill, a.k.a. “Roaring Kitty”, changed up his GameStop play, meanwhile US corporate cash piles swelled to a record $4.1 trillion last quarter, giving companies plenty of ammo

Today’s stories: 

• Looks Like “Roaring Kitty” Now Holds Around Nine Million GameStop Shares
• US Companies Are Looking Flush After Beefing Up Their Cash Reserves

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One in every three global investment dollars is landing in the US, while political turmoil cost Paris its crown as Europe’s biggest stock market.

Today’s stories: 

• One In Every Three Global Investment Dollars Is Landing In The US
• Paris Lost Its Title As Europe’s Biggest Stock Market After Political Turmoil

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A major tech ETF is set to load up on Nvidia, at the expense of Apple, while the S&P 500 broke yet another record.

Today’s stories: 

• One Of The World’s Most Prominent Tech ETFs Looks Set To Load Up On Nvidia
• The S&P 500 Broke Yet Another Record, But Opinions Are Mixed On What’s Next

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The UK beat the US and eurozone to inflation coming in on target, while American carmaker Fisker filed for bankruptcy.

Today’s stories: 

• British Inflation Came In Bang On Target For The First Time In Three Years
• Another EV Maker Bites The Dust: American Firm Fisker Filed For Bankruptcy

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The Bank of England kept interest rates unchanged, while soaring debt in the European Union added drama to a volatile market.

Today’s stories: 

• The Bank Of England Held Interest Rates Steady For The Seventh Time In A Row
• The European Central Bank Cautioned Its Member Countries Over Heavy Debt

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Revolut is aiming for a valuation of over $40 billion, while birth rates in industrialized economies have more than halved since 1960.

Today’s stories: 

• Revolut’s Share Sale Could Value The Fintech Company At Over $40 Billion
• Birth Rates In OECD Countries Have More Than Halved Over The Last 60 Years Or So

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Apple and Meta seemingly put the past behind them to talk about collaborating, while copper prices are starting to fall from their record highs.

Today’s stories: 

• Apple Could Integrate One Of Meta’s AI Models Into Its Products
• Copper Prices Have Started To Fall From Their Recent Record Highs

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Airbus lowered its profit outlook for the year, while Apple and Microsoft were charged under the EU’s new Digital Markets Act.

Today’s stories: 

• Airbus Lowered Its Profit Outlook After Lingering Supply Chain Kinks
• Apple And Microsoft Have Been Caught In The EU’s Regulatory Crunch

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China approved Novo Nordisk's weight-loss wonder drug Wegovy, while Denmark approved the world’s first carbon tax on agriculture.

Today’s stories: 

• Novo Nordisk Got The Green Light In China For Its Weight-Loss Drug Wegovy
• Denmark Just Approved The World’s First Polluting Tax On Agriculture

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Keith Gill, a.k.a. “Roaring Kitty”, caused more ruptures in the stock market, while China's patchy stats showed exactly why its stock rally ran out of puff.

Today’s stories: 

• The “Roaring Kitty” Chowed Down On Pet Food Retailer Chewy’s Stock
• China’s Manufacturing And Services Sectors Are Looking Worse For Wear

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Revolut's new legion of customers helped the fintech make a record-breaking profit, while tech companies are turning to nuclear energy to satisfy the power demands of AI.

Today’s stories: 

• Revolut Flashed A Record Profit, Thanks To Higher Interest Rates And More Users
• Tech Firms Have Been Going Nuclear To Meet The Lofty Power Demands Of AI

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Tesla turned the corner, and AI was in the driver’s seat, while Japan’s wages are set to rise at their highest rate in more than 30 years.

Today’s stories: 

• Investors Are Paying Attention To Tesla Again, And That’s Partly Thanks To AI
• Japan’s Trade Unions Just Secured The Biggest Pay Hike Since 1990

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The Labour Party won the UK election by a landslide, while the US created 206,000 jobs in June – more than expected.

Today’s stories: 

• The Labour Party Won In The UK, Creating A (More Stable) Majority Government
• The US Added More Jobs Than Expected, But That’s Not The Whole Story

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Global temperatures breached a key climate threshold for a full year, while the French government’s in deadlock after a surprise win for the left.

Today’s stories: 

• Global Temperatures Breached A Key Climate Threshold For A Full Year
• After An Unexpected Turn Of Events, France Is In Political Deadlock

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There weren’t many new users to count over at X (formerly Twitter) last quarter, while most active funds have fallen short of beating the S&P 500 this year.

Today’s stories: 

• New Users Were Few And Far Between At X (Formerly Twitter) Last Quarter
• Slow And Steady Is Paying Off, With Passive Funds Pulling Ahead This Year

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Microsoft and Apple put space between themselves and OpenAI, while China inched closer to deflation – a worrying sign for the world's second-biggest economy.

Today’s stories: 

• Microsoft Ditched Its Board Seat At OpenAI, And Apple’s Stepping Away Too
• China’s Getting Closer To Deflation – And That’s Not Good

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Fresh data showed retail investors are the most optimistic they’ve ever been, while professional investors are concerned about round-the-clock retail trading.

Today’s stories: 

• According To The Modern Investor Pulse, Retail Investors Are Very Optimistic Right Now
• Professional Investors Are Concerned About Round-The-Clock Retail Trading

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JPMorgan Chase and Citigroup announced blowout second-quarter earnings, while analysts are more optimistic than usual about US companies this earnings season.

Today’s stories: 

• JPMorgan Chase Came Out Swinging With Results That Crushed Expectations
• Analysts Are Cautiously Optimistic About This Earnings Season

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Google is reportedly in talks to buy cybersecurity firm Wiz for $23 billion, while China’s slow economic growth is causing waves in the luxury market.

Today’s stories: 

• Google’s Parent Alphabet Could Buy Cybersecurity Firm Wiz For $23 Billion
• China’s Economy Is Growing More Slowly, And That’s Hurting The Luxury Industry

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Morgan Stanley and Bank of America posted better-than-expected updates – and while Saudi Arabia has big plans, they’re proving tricky to pull off.

Today’s stories: 

• Both Bank Of America And Morgan Stanley Released Expectation-Beating Results
• Saudi Arabia’s Multi-Trillion-Dollar Makeover Isn’t Going According To Plan

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ASML reported strong results, but geopolitical tensions threatened to cloud its outlook, while the Russell 2000 index notched its best five-day streak since 2020.

Today’s stories: 

• ASML’s Strong Results Were Overshadowed By Potential Trade Restrictions
• Smaller Stocks Have Been Rallying: The Russell 2000 Just Notched A Five-Day Streak

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Global shipping troubles and threats of fresh tariffs revived old worries about inflation, while chipmaker TSMC unveiled its AI-powered results.

Today’s stories:

• Global Shipping Troubles And Tariff Threats Could Cause Waves For Inflation
• The Chips Are Up For TSMC, And The Future Is Looking Bright Too

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A swing and the biggest of misses for CrowdStrike led to global IT chaos, while OpenAI cozied up to Broadcom for a fresh supply chain connection.

Today’s stories:

• Cybersecurity Firm CrowdStrike Struck Out, Sparking A Huge Global Tech Outage
• OpenAI’s Chatting Up Broadcom For A Fresh Supply Chain Connection

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Warren Buffett cashed in some Bank of America stock, while activist fund Elliott Management ordered up a serving of Starbucks.

Today’s stories:

• Warren Buffett’s Berkshire Hathaway Gave Its Bank of America Stake A Trim
• Activist Fund Elliott Management Picked Up A Venti Stake In Starbucks

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Alphabet delivered an expectation-beating – yet slightly ho-hum – quarterly update, while ether spot ETFs started trading in the US.

Today’s stories:

• Alphabet Spelled Out Better-Than-Expected Results
• In A Big Step For Crypto, The First Spot Ether ETFs Just Launched

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European firms are facing a dismal quarter as demand from China slows, while business activity in Britain showed it’s making a comeback.

Today’s stories:

• European Firms Are Looking Glum As Demand From China Slows
• The Clouds Might Finally Be Parting For The UK Economy

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US economic growth cruised at a faster-than-expected pace, while an AI selloff stoked wider worries about the Big Tech-driven stock market.

Today’s stories:

• The US Economy Grew At A Surprisingly Snappy Pace Last Quarter
• AI Jitters Sent Markets The World Over Into A Tailspin

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Finfluencer Bill Ackman slashed the target size for his brand-new  fund, while the latest look at inflation hinted that the US could achieve a soft landing.

Today’s stories:

• Bill Ackman Slashed The Target Size For His New Fund By A Mile
• The Fed’s Trusted Inflation Measure Pointed To Cooler Blue Levels

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McDonald's sales fell around much of the world, while Bernard Arnault bought a stake in Richemont.

Today’s stories:

• Mcdonald’s Sales Fell For The First Time Since 2020, And Investors Weren’t Lovin’ It
• Europe's Wealthiest Man – The Head Honcho Of LVMH – Bought A Tiny Slice Of Richemont

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Microsoft’s shares fell late on Tuesday as investors focused on disappointing cloud results, while Germany lagged behind other eurozone economies.

Today’s stories:

• Microsoft’s Cloud Lost A Little Sparkle, And Investors Sent The Firm’s Stock Down
• Europe’s Economies Moved In Quite Different Directions Last Quarter

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The Bank of Japan raised its benchmark interest rate to the highest point since 2008, and Meta reported stronger-than-expected sales for last quarter.

Today’s stories:

• Surf’s Up For Meta: The Firm Reported Stronger Sales Than Expected
• The Bank Of Japan Raised Interest Rates For Just The Second Time Since 2007

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Apple and Amazon both showed investors how they fared last quarter, but their adequate performances failed to earn them credit. After four years of interest rates moving only one way, the Bank of England finally dropped rates.

Today’s stories:

• Adequate Results From Apple And Amazon Weren’t Enough To Get Investors Excited
• After Four Years, The Bank Of England Finally Trimmed Interest Rates

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US jobs data suggested that the country is starting to strain under high interest rates, while Nvidia challenger Cerebras filed for an IPO.

Today’s stories:

• The US Created Fewer Jobs Than Expected, And Unemployment Ticked Up Too
• Chip Designer And Nvidia Rival Cerebras Filed For An IPO

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Warren Buffett cut Berkshire Hathaway's stake in Apple nearly in half, while Japan’s stock market indexes suffered their worst day since 1987.

Today’s stories:

• Warren Buffett Cut Berkshire Hathaway's Stake In Apple Nearly In Half
• Japanese Stocks Just Had Their Worst One-Day Drop Since The '80s

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Nvidia’s dominance could be derailed by production delays, while markets look to be recovering – but more big moves are likely ahead.

Today’s stories:

• Nvidia's Chip Design Lead Is Being Hamstrung By Production Delays
• Markets All Over Have Been Moving And Shaking, Testing Investors' Nerves

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Japan's central bank backtracked on further rate hikes, while UK house prices picked up at their fastest rate since January.

Today’s stories:

• In An About Face, The Bank Of Japan Vowed To Keep Interest Rates Steady
• British House Prices Took Off In July, After Three Months Of Little Action

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China made less money from exports than expected last month, while US weekly jobless claims came in better than feared.

Today’s stories:

• China’s Export Growth Slowed Last Month, With International Buyers Not Swiping
• Lower-Than-Expected US Jobless Claims Cheered Up Investors And Markets Alike

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AI search startup Perplexity is challenging Google’s dominance, while major global firms have been tailoring products for India’s shoppers.

Today’s stories:

• AI Search Startup Perplexity Made It Very Clear That It’s Going Up Against Google
• Major Brands Are Shifting Focus To India, Eager To Fill The Country’s Appetite

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Americans have been spending less than usual on travel, while bonds are regaining their role as a portfolio hedge.

Today’s stories:

• US Tourists Took A Vacation From The Vacation, Which Isn’t A Good Sign
• Bonds Are Making A Comeback As A Portfolio Hedge Against Stocks

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Major American manufacturing projects are stuck on the back burner, while US producer prices rose less than expected in July.

Today’s stories:

• Despite Two Acts Designed to Help, America’s Manufacturing Industry Looks Tired
• According To Fresh Press, US Producer Prices Rose Less Than Expected Last Month

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Google’s in hot water over its monopoly, while US inflation came in lower than predicted last month.

Today’s stories:

• The US Government’s Flirting With The Idea Of Breaking Up Google
• US Inflation Chilled Out Last Month, Rising By Less Than Expected

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China's economy is still on a low, with industrial growth missing the mark, while US retail sales perked up by more than expected – an encouraging sign.

Today’s stories:

• China’s Looking Down In The Dumps, With Industrial Production Falling Short
• Deep-Pocketed Americans Pushed Retail Sales Up More Than Expected Last Month

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Warren Buffett reshuffled Berkshire Hathaway’s portfolio, while fintech startup Revolut secured an impressive $45 billion valuation.

Today’s stories:

• Warren Buffett Gave Berkshire Hathaway A Makeover, Buying Into Ulta Beauty
• With A New $45 Billion Valuation, Revolut’s One Of Europe’s Priciest Startups

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7-Eleven’s parent company got a buyout proposal from Canadian rival Couche-Tard, while US startup failures rose 60% from a year ago.

Today’s stories:

• Canadian Retailer Couche-Tard Proposed A Marriage Of Convenience To 7-Eleven
• More US Startups Have Shut Down, With Failures Jumping 60% In The Past Year

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The price of gold hit an all-time high, with a single bar now worth $1 million, while Apple is set to make its priciest iPhone models in India.

Today’s stories:

• Gold’s Price Ascended To An All-Time High, With A Single Bar Now Worth $1 Million
• India’s Getting An Upgrade: Apple Will Start Making Its High-End iPhones In The Country

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China sniffed around Europe’s cheese exports, as tension between the two economies picked up pace, while the US economy added far fewer jobs than previously believed.

Today’s stories:

• China Thinks There’s Something Funky About The Price Of Europe’s Cheese
• Looks Like The US Economy Added Far Fewer Jobs Than Everybody Thought

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Coal giants Arch Resources and Consol Energy struck a merger deal, while the British pound hit a six-month high against the US dollar.

Today’s stories:

• Coal Mates Arch And Consol Are Tying The Knot In An All-Stock Merger
• The Pound Gave A Sterling Performance, Hitting A Six-Month High Against The Dollar

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The Fed dropped a big hint about a September interest rate cut, while China's risking a trade war with its over-manufacturing.

Today’s stories:

• The Federal Reserve Cut To The (Interest Rate) Point At Its Annual Conference
• China's Risking A Trade War By Injecting Its Factories With Stimulus Cash

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Coffee prices are picking up and causing a headache, while defense giants are about to be holding record levels of cash.

Today’s stories:

• Coffee Bean Prices Surged Again – A Real Buzzkill For Java Drinkers And Suppliers
• Looks Like Defense Companies Are About To Be Rolling In Cash

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Nvidia rolled out better-than-expected results, while tough rules are forcing US tech giants to avoid Europe.

Today’s stories:

• Nvidia’s On A Roll, Throwing Better-Than-Expected Results Yet Again
• The European Union's Red Tape Is Scaring Off Tech Companies

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OpenAI’s eyeing up a valuation over $100 billion, while foreign investors are fleeing India’s frothy stock market.

Today’s stories:

• OpenAI’s Chatting Up Investors, Aiming For A Valuation Of More Than $100 Billion
• Foreign Investors Seem To Have Cold Feet When It Comes To India

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Tokyo’s inflation ticked up in August, giving the Bank of Japan a tap on the shoulder, while European stocks hit a record high – despite the region's drab economy.

Today’s stories:

• Inflation In Tokyo Picked Up, And That Could Nudge The Bank Of Japan Into Action
• European Stocks Turned Up The Summer Heat, Hitting A Record High

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The US government’s clean energy loan office went on a spending spree, while China’s economic turmoil weighed heavily on steel prices.

Today’s stories:

• A US Federal Clean-Energy Fund Is Dishing Out Cash Ahead Of The Election
• Steel Prices Have Plunged As China Fills The Market With Cheap Metal

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Volkswagen might close German factories for the first time ever, while the US notched a record number of 401(k) millionaires – with the stock market largely to thank.

Today’s stories:

• Volkswagen Might Have To Shut Up Shops At Home For The First Time Ever
• A Record Number Of 401(k) Accounts Are Now Worth $1 Million Or More

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US stocks tumbled again, suggesting that investors are still on pins and needles, while Nvidia became the latest tech company to catch the US Department of Justice’s eye.

Today’s stories:

• Stock Markets Fell Again, Giving Investors Déjà Vu
• The US Department Of Justice Sent Nvidia A Subpoena

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Intel flunked a crucial test, and now its $20 billion funding award is in question, while investors have funnelled nearly $1 trillion into active ETFs.

Today’s stories:

• Intel’s Next-Generation Manufacturing Process Failed Its Test
• Investors Have Put Nearly $1 Trillion Into Actively Managed ETFs

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The latest US jobs report left markets unsure about the size of the Fed's long-awaited rate cut, while American companies broke records in the bond market – raising $80 billion in a week alone.

Today’s stories:

• The US Jobs Report Left Markets Guessing About The Fed’s Next Rate Cut
• American Firms Have Been Raising Record-Breaking Debt Ahead Of The Election

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Tesla needs tech support, and Elon Musk wants to task xAI with the job, while luxury brands fell out of fashion as China’s shoppers stopped spending.

Today’s stories:

• Elon Musk Reportedly Suggested A Buddy System For Tesla And xAI
• Kering’s Stock Has Tanked This Year As Luxury Brands Lose Their Lure

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Big Tech's been hogging the AI opportunities, leaving VC firms in limbo, while fresh data suggested that China’s headed toward a period of deflation.

Today’s stories:

• Big Tech’s Been Dominating Private Markets, Leaving VC Firms Out In The Cold
• Looks Like China’s On The Precipice Of Economy-Sinking Deflation

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US inflation cooled by slightly more than expected in August, while a popular type of ETF just launched in Europe for the first time.

Today’s stories:

• The Latest US Inflation Reading Showed The Lowest Level Since 2021
• A Popular Type Of ETF Just Launched In Europe – To Investors’ Delight

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OpenAI’s valuation is set to hit $150 billion, with tech giants said to be ready to line its coffers, while the European Central Bank cut interest rates to 3.5%.

Today’s stories:

• OpenAI Is Fundraising Again, At A Shiny New $150 Billion Valuation
• The European Central Bank Cut Interest Rates For The Second Time This Year

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 UniCredit built up a stake in German rival Commerzbank, and the Italian bank has a merger on the mind, while China agreed to increase its retirement age for the first time in over four decades.

Today’s stories:

• UniCredit’s Been Building A Stake In Commerzbank, With Some Kind Of Union In Mind
• China’s Set To Bump Up Its Retirement Age For The First Time In More Than 40 Years

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Americans have fallen behind on car and credit payments, scaring investors away from consumer lending stocks, while the world’s biggest mining firm predicted that the AI sector’s exponential expansion could aggravate an expected copper shortage.

Today’s stories:

• More And More Americans Have Been Defaulting On Their Debts
• BHP Raised The Copper Flag, Warning That AI Will Exacerbate A Shortage

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Intel announced major cost cuts and restructuring plans, while US retail sales defied pessimistic predictions by picking up in August.

Today’s stories:

• After A Sharp Stock Sell-Off, Intel’s Planning To Separate Its Manufacturing Business
• US Retail Sales Came In Strong, Suggesting The Economy’s Holding Its Own

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Three big-name firms teamed up to build a fund focused on AI investments, and they’re set on raising $30 billion, while UK inflation stayed slightly above the Bank of England’s 2% target in August.

Today’s stories:

• BlackRock, Microsoft, And MGX Are Teaming Up On An AI Infrastructure Fund
• UK Inflation Held Still And Steady Last Month, ​​Just As Economists Predicted

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Demand for the most expensive Swiss watches picked up while “cheaper” timepieces fell behind, and India’s runaway stock market just propelled the country past China in a major benchmark index.

Today’s stories:

• Demand For Expensive Swiss Watches Ticked Up, But Shoppers Are Still Divided
• India Just Overtook China In One Of The World’s Biggest Stock Market Indexes

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The biggest US money managers pared back their approvals for ESG proposals, while the UK’s national debt added up to 100% of the country’s economic output for the first time in over six decades.

Today’s stories:

• The Three Biggest US Money Managers Have Been Snubbing ESG Proposals
• The UK’s National Debt Is The Same Size As Its Economy For The First Time Since The ‘60s

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Qualcomm sidled up to Intel in what could become the tech industry’s biggest-ever takeover, while the eurozone’s private sector dropped off by more than expected – dashing hopes of a recovery across the region.

Today’s stories:

• Qualcomm Had A Friendly Chat With Intel About A Potential Takeover
• The Eurozone’s Private Sector Shrank In September As Gloomier Days Set In

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News of financial support brought about China’s biggest stock rally in over four years, while the US green agenda has been circling the drain – and November’s elections could pull it under completely.

Today’s stories:

• China Announced Measures To Pump Up Its Property Sector And Stock Market
• US Climate Plans Are Already Delayed, And The Election Could Derail Them Completely

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Consultancy firm Bain predicted that the global AI market could reach $1 trillion by 2027, while design platform Canva has drawn up plans for an initial public offering.

Today’s stories:

• The Global AI Market Could Hit $1 Trillion By As Soon As 2027
• Design Platform Canva Is Drawing A Buzz With Plans To List On The Stock Market

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OpenAI started pushing to become a for-profit company, and key execs left the building the very same day, while China’s stock market rally continued – thanks to the country’s announcement of support for its struggling property market.

Today’s stories:

• OpenAI Started Pushing To Become For-Profit, And A Number Of Its Top Execs Quit
• China’s Stocks Jumped Again, With The Country’s Leaders Pledging Even More Support

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Investors have pushed a record $6.8 trillion into US money market funds, while Japan’s surprise leadership result sent a shock through the country's stock market.

Today’s stories:

• Money Market Funds Hit Record Levels, With Investors Plowing In Cash
• The Election Of A New Ruling Party Leader In Japan Shocked Markets

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Chinese stocks continued to rally thanks to government intervention, while “merger Monday” this week had its share of blockbusting winners and (hashtag) losers.

Today’s stories:

• Chinese Stocks Just Had Their Best Week Since 2008
• DirecTV And EchoStar Are Teaming Up For A Big Merger On The Small Screen

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Increases in oil production could lead to prices falling, according to HSBC, while European inflation eased – setting the stage for interest rate cuts this month.

Today’s stories:

• HSBC Lowered Its Oil Price Forecasts, As Producers Plan To Turn Up The Pumps
• Eurozone Inflation Came In Below The ECB’s Target For The First Time Since 2021

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This earnings season, investors are forecasting S&P 500 companies will deliver profit growth for the fifth consecutive quarter, while Tesla announced a weaker-than-expected quarterly update.

Today’s stories:

• Investors Are Expecting A Good Showing From S&P 500 Companies This Earnings Season
• Tesla Delivered Fewer Cars Than Expected, And Investors Hit The Brakes

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OpenAI made history with its $6.6 billion funding round, while Tesco – the UK’s top supermarket – showed resilience despite a tough environment.

Today’s stories:

• OpenAI Raised $6.6 Billion In One Of The Biggest-Ever Venture Capital Funding Rounds
• Grocer Tesco Lifted Its Profit Forecast For The Year After A Fresh And Tasty First Half

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The US added more jobs than expected, setting the stage for stocks to rise, while the European Union voted to impose import taxes on Chinese electric vehicles.

Today’s stories:

• America Added Far More Jobs Than Predicted, And Investors Sent US Stocks Up
• The EU Voted For Import Taxes On Chinese EVs To Try And Pull Back Some Ground

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UK house prices rose for the third month in a row, while Tokyo Metro is headed for Japan’s biggest initial public offering since SoftBank.

Today’s stories:

• UK House Prices Turned Up, Rising In September For The Third Month In A Row
• Subway Operator Tokyo Metro Is On Track For Japan’s Biggest IPO Since 2018

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Chinese investors returned from their holiday week and ruined the stock market’s party, while PepsiCo announced a weaker-than-expected third-quarter update.

Today’s stories:

• China's Stock Market Started Strong, But The Post-Holiday Blues Came Quickly
• Pepsi’s Latest Results Landed Flat, Leaving Investors With A Bad Taste

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Rio Tinto agreed a $7 billion deal to buy Arcadium, eager to become a big player in the lithium market, and chipmaker TSMC smashed through revenue expectations, spurred on by rampant AI demand.

Today’s stories:

• Mining Giant Rio Tinto Announced That It’s Acquiring Arcadium Lithium
• TSMC Posted Dazzling Revenue, Beating Analyst Estimates And Its Own Forecasts

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US inflation in September came in ahead of expectations, potentially forcing the central bank’s hand, while Delta Air Lines predicted a profitable fourth quarter thanks to holiday season bookings.

Today’s stories:

• US Inflation Nudged Higher In September, Coming In Above Expectations
• Delta’s Looking Forward To The Gift Of Higher Profit This Holiday Season

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JPMorgan Chase kicked off banks’ earning season in style, and BlackRock – the world’s biggest investment manager – announced a record-breaking third quarter.

Today’s stories:

• JPMorgan Chase Is King Of The Hill Right Now, With Its Expectation-Beating Results
• BlackRock’s Strong Earnings Laid The Proverbial Smackdown On Investors’ Expectations

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China announced a spendy stimulus plan, but skimped on the details, while drought conditions in Vietnam have created a major headache for the country’s coffee growers.

Today’s stories:

• China’s Making A Play To Boost Its Economy But Keeping Quiet On The Details
• A Drought In Vietnam Is Putting The Heat On Robusta Coffee Prices

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Three big banks outscored analyst estimates with their third-quarter results, while government debt is on the up and likely to saddle countries with tough decisions.

Today’s stories:

• Three Big Wall Street Banks Reported Profit That Swished Past Expectations
• The IMF Just Dropped Some Heavy News About Public Debt

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Two European heavyweights punched a hole in market sentiment, while global investors said “goodbye” to India and “hello again” to China.

Today’s stories:

• Global Stocks Slipped As Both LVMH And ASML Fell On Tough Times
• Looks Like India’s Stock Market Is Losing The Popularity Contest With China

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The European Central Bank cut eurozone interest rates for the third time this year, while alternative asset manager Blackstone gained mainstream appeal last quarter.

Today’s stories:

• The ECB Trimmed Interest Rates Again, To Probably Nobody’s Surprise
• Blackstone Reported The Biggest Stash Ever Of Assets Under Its Management

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Gold reached an all-time high – in a surefire hint that investors are more anxious than they seem – while China’s economy gave off mixed vibes, prompting the government to roll out fresh stimulus.

Today’s stories:

• The Price Of A Bar Of Gold Hit A New All-Time High
• China Just Barely Beat Growth Forecasts, But The Country’s Still Up Against It

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No one seemed too confused about AI startup Perplexity, as excited investors pushed its potential valuation to $8 billion, while China cut its interest rates – hoping to give the economy a much-needed boost.

Today’s stories:

• AI Startup Perplexity Is Looking To Raise Funds At An $8 Billion Valuation
• The People's Bank Of China Got The Scissors Out And Snipped Interest Rates

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General Motors’ third-quarter results zoomed past investors’ expectations, while SAP boosted its annual earnings forecast thanks to rising cloud revenue.

Today’s stories:

• General Motors Beat Expectations, And Investors Revved Up Its Stock
• Software Giant SAP’s Shares Hit An All-Time High After An Optimistic Forecast

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Goldman Sachs isn’t feeling India right now, pulling back amid weaker growth and earnings disappointments, while BlackRock’s charging into the AI boom with two new ETFs designed to harness the technology's explosive potential.

Today’s stories:

• Goldman Sachs Just Hit The Brakes On India’s Stocks
• BlackRock’s Diving Into AI With Two New Actively Managed ETFs

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Hermès made a splashy statement with its latest results, outshining its luxury rivals, while Novo Nordisk’s popular weight-loss drug has been linked to a lowered risk of Alzheimer’s.

Today’s stories:

• Hermès Came Out On Top With Its Latest Results, Leaving Luxury Rivals In The Dust
• Novo Nordisk's Ozempic Drug Might Work Wonders For Mind As Well As Body

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Colgate’s latest earnings were pearly, but investors weren’t flashing any smiles, while Germany’s business morale lightened up after a sour few months.

Today’s stories:

• Colgate’s Feeling The Squeeze, Despite Delivering Some Sparkly White Earnings
• Looks Like Germany’s On Firmer Ground, With Its Business Outlook Brightening Up

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