Apple Intelligence China Approval Lifts Alibaba and Baidu Shares 
Nvidia Partners With Fanuc and Yaskawa to Accelerate AI Robotics in Japan 
SK Hynix Stock Soars as AI Memory Demand Outlook Fuels Chip Rally 
Apple Intelligence Cleared for China as Alibaba and Baidu AI Power iPhone Features 
Sodexo Unveils Shift & Grow 2030 Strategy, Targets Over 5% Revenue Growth by Fiscal 2030 
BHP Q4 Iron Ore Output Rebounds as Copper Prices Boost Revenue 
Alibaba Stock Jumps as China Approves Apple Intelligence Powered by Qwen AI 
Uber to Acquire Delivery Hero in $14.8 Billion Deal to Expand Global Food Delivery Business 
Stripe, Advent Offer Over $53 Billion to Acquire PayPal in Major Fintech Deal 
United Airlines Beats Q2 Earnings, Raises 2026 Profit Outlook Despite Higher Fuel Costs 
Hyundai Takes Full Control of Boston Dynamics to Accelerate Humanoid Robot and AI Strategy 
Taiwan Mangoes Head to Europe as Premium Fruit Exports Expand 
Rio Tinto Reports Strong Q2 Iron Ore Sales, Maintains 2026 Production Outlook 
SEB Q2 Profit Rises on Strong Lending, Record Fee Income, Announces New Share Buyback 
BHP Faces Major Port Hedland Strike as Labor Talks Stall Ahead of Production Report 
Stripe, Advent Offer $53 Billion Deal to Acquire PayPal: Reuters 
Paramount-Warner Bros. Discovery Merger Faces Lawsuit From 12 States 
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.
