Meta Ordered to Pay $567M Over Child Safety Violations in New Mexico 
Goldman Sachs Sees US Stock Buybacks Outpacing Equity Issuance as AI Funding Rises 
Delta Flight Makes Emergency Landing in Atlanta After Cockpit Fumes Reported 
Mercedes-Benz Stock Offers Deep-Value Potential as Citi Sees Recovery Catalysts 
Nvidia to Invest Up to $3 Billion in Blackstone-Backed Lancium 
Deutsche Bank Upgrades Persimmon to Buy After Strong First-Half Results 
Hims & Hers Shares Fall as GLP-1 Costs Widen Q2 Loss 
Austal Shares Surge 16% as Hanwha Offers Up to $1.2 Billion for U.S. Shipbuilding Business 
OpenAI Restricts Astra AI Over Cyberattack Risks 
Sanrio Shares Plunge as Q1 Profit Miss Overshadows Strong Sales 
Apple Tests China’s CXMT Memory Chips for iPhones and MacBooks Amid AI Supply Crunch 
Natura Q2 Profit Plunges 92% as Financial Expenses Weigh on Earnings 
Samsung, SK Hynix Shares Surge on Report of Potential Temasek Investment 
ADNOC Gas Targets Up to $4B Profit in 2026 
OpenAI Executive Brad Lightcap to Leave for New AI Venture 
Shein Scales Back Vietnam Operations as US Trade Rules Shift 
Sony, TSMC Eye $6.3 Billion Japan Chip Venture for Next-Gen Image Sensors 
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.
