Airbus Signs Cloud Deal With Scaleway to Power Secure AI and Defense Applications 
Taiwan Mangoes Head to Europe as Premium Fruit Exports Expand 
Arm Stock Falls After HSBC Downgrade, Citing Limited Near-Term AI Upside 
Eli Lilly Eyes AtaiBeckley Acquisition to Expand Psychedelic Mental Health Pipeline 
Alibaba Stock Jumps as China Approves Apple Intelligence Powered by Qwen AI 
Rio Tinto Reports Strong Q2 Iron Ore Sales, Maintains 2026 Production Outlook 
Stripe, Advent Offer $53 Billion Deal to Acquire PayPal: Reuters 
Volkswagen Launches €28,000 ID. Cross EV as Europe’s Electric Vehicle Demand Accelerates 
Uber to Acquire Delivery Hero in $14.8 Billion Deal to Expand Global Food Delivery Business 
Jamie Dimon Warns Anthropic's Mythos AI Poses National Security Risks 
Sodexo Unveils Shift & Grow 2030 Strategy, Targets Over 5% Revenue Growth by Fiscal 2030 
Paramount-Warner Bros. Discovery Merger Faces Lawsuit From 12 States 
United Airlines Beats Q2 Earnings, Raises 2026 Profit Outlook Despite Higher Fuel Costs 
SpaceX Stock Falls Below IPO Price as Investors Weigh Losses and Lockup Expiry 
xAI Sues Man for Allegedly Using Grok to Generate AI Child Abuse Deepfakes 
DBS Targets S$1 Trillion Wealth AUM by 2030 Amid Asia Wealth Boom 
SK Hynix Stock Soars as AI Memory Demand Outlook Fuels Chip Rally 
S&P 500 Closes at New High as Fed Rate Cut Spurs Market Gains
The S&P 500 index reached record highs on Thursday, continuing its post-election rally after the Federal Reserve announced a widely anticipated rate cut. The S&P 500 rose 0.8% to close at 5,973.10, while the NASDAQ Composite added 1.5% to also set a new high. The Dow Jones Industrial Average remained relatively flat.
Federal Reserve Cuts Rates to Meet Market Expectations
As expected, the Fed cut its interest rate by 25 basis points, adjusting the benchmark to a range of 4.5% to 4.75%. This reduction follows a 50-point cut in September and reflects moderated economic outlooks. Analysts are predicting two further cuts, bringing rates to between 4% and 4.25% by early 2025, per RBC projections.
Earnings Highlights: Warner Bros, Lyft, and Moderna
- Warner Bros Discovery shares surged 12% after reporting a surprise quarterly profit, despite lower revenue due to fewer blockbuster releases.
- Lyft saw a 24% jump following upbeat guidance and a promising new self-driving partnership. Truist Securities noted Lyft’s strategic focus on enhancing rider experience and product innovation.
- Moderna dropped 2%, despite a stronger-than-expected quarter due to COVID-19 vaccine sales. The company warned of potentially lower 2024 sales.
Qualcomm and ARM Holdings Boost Tech Sector
Qualcomm announced a $15 billion stock buyback following solid Q4 results, though its stock later dipped. ARM Holdings (NASDAQ) exceeded forecasts, rising 4% and reinforcing positive momentum in the tech sector.
