US stocks surged, with the Dow rising over 600 points and the S&P 500 up 0.9%. Nasdaq gained 0.7% after a strong start to the week. Alphabet and Apple hit record highs. Nvidia shares fell over 3% as Meta considers Google for AI chips. Investors eye Fed for possible December rate cut. US retail sales rose less than expected in September. Kohl’s and Best Buy beat earnings forecasts. Russell 2000 small-cap index rose over 2.2%. Stocks rose on report of Kevin Hassett as potential Fed chair pick. The Nasdaq Composite rose 0.4%, fueled by potential interest rate cuts under Trump ally Kevin Hassett. Fed Chair Jerome Powell may step down in 2026, impacting future rate decisions.

UBS predicts sustained equity rally in 2026 due to Fed rate cuts and AI growth. Firm remains bullish on tech stocks, echoing sentiments of other major financial institutions.

Zoom stock surges 15% on strong AI adoption and upbeat outlook. CEO Eric Yuan highlights AI’s role in revenue growth, with earnings topping expectations in the quarter.

Alphabet outperforms as parent company of Google nears $4 trillion valuation. Optimism over AI prospects and favorable reception of Gemini AI product drive stock to record highs.

US consumer confidence drops in November, signaling economic concerns. Americans foresee more financial challenges ahead, impacting overall sentiment and spending habits.

Nvidia’s AI chips face competition from Google, causing stock drop. Analyst asserts Nvidia’s chips are secure despite Meta’s potential deal with Google for TPUs, emphasizing high demand for AI chips.

Homebuyers capitalize on lower mortgage rates, boosting contract activity in October. Yahoo Finance reporter Claire Boston details increased homebuying activity fueled by favorable mortgage rates.

Oil and natural gas prices fall on peace plan progress and mild winter outlook. Crude oil futures drop as negotiations between Ukraine and Russia advance and winter weather expectations turn milder than anticipated. Oil prices dropped 5% over five trading sessions due to Ukraine agreeing to a revised peace plan with Russia. Natural gas futures fell by 5.9% on the news, trading below $4.40 per million British thermal units. US natural gas production is set to reach 107.7 billion cubic feet per day in 2025.

US stocks were mixed at the open, with the Nasdaq falling 0.4% due to a drop in Nvidia shares. The S&P 500 traded flat, while the Dow Jones Industrial Average added 0.5%, buoyed by fewer tech stocks.

Wholesale inflation rose 0.3% in September, with prices paid by companies increasing 2.7% year over year. The Producer Price Index showed a monthly increase of 0.3% after a decline in August. Core prices edged up 0.1%. Traders are betting on an 82.9% chance the Fed will lower interest rates by 25 basis points.

US retail sales rose 0.2% in September, lower than the expected 0.4% increase. The control group, which factors into GDP, decreased by 0.1%. Sales excluding autos rose 0.3% month over month. The report is crucial for understanding consumer spending and the holiday shopping season. Abercrombie & Fitch stock soared after beating earnings estimates and raising full-year guidance, with shares rising over 18% in premarket trading. The company reported a 15% sales increase for its Hollister brand, offsetting a 7% decline for Abercrombie. Earnings per share were $2.36, above estimates, with net sales reaching $1.29 billion.

Kohl’s stock surged 23% before the bell as the retailer reported better-than-expected third quarter results, exceeding Wall Street estimates for both earnings and revenue. The company also raised its full-year outlook. The positive results led to a strong performance for Kohl’s shares in premarket trading.

Best Buy shares rose 3% before the bell after the retailer’s third quarter results beat analysts’ estimates and the company raised its full-year outlook. The sales were driven by strong performances in computing, gaming, and mobile phones. The positive earnings report has positioned Best Buy well heading into the holiday season. DOGE challenged the notion of workforce size post-COVID, leading to mass layoffs with vague justifications like “macroeconomic headwinds.” Recent layoffs at Amazon, UPS, and Verizon had company-specific reasons. Corporate restructuring has accelerated, influenced by DOGE’s cut-first mentality. Read more on Morning Brief’s takeaway.

Keysight Technologies’ stock surged 14% in premarket trading, exceeding revenue and profit forecasts. Broadcom stock rose 2% pre-bell due to optimism around AI offerings and a longstanding partnership with Alphabet. Spotify shares jumped 4% premarket following news of a price increase in the US next year.

Alibaba’s stock rose 4% premarket after beating revenue estimates, driven by investments in one-hour delivery and cloud division growth. The Chinese e-commerce giant attracted more users to its shopping apps. Reuters has more details on Alibaba’s quarterly performance. 1. The stock market saw a significant increase today, with the S&P 500 reaching a new all-time high of 4,300. This surge was driven by strong performances from tech giants like Apple and Microsoft, as well as positive economic data pointing towards a robust recovery.

2. In global news, the G7 leaders have pledged to donate one billion Covid-19 vaccine doses to developing countries. This effort aims to address global vaccine inequality and support the global vaccination campaign. The G7 also committed to ramping up efforts to tackle climate change and promote economic recovery post-pandemic.

3. The latest employment report revealed that the U.S. economy added 559,000 jobs in May, exceeding expectations. The unemployment rate also fell to 5.8%, indicating a strong rebound in the labor market. The data suggests that the economy is on track for a steady recovery following the pandemic-induced downturn. 1. The stock market saw a significant drop today, with the Dow Jones Industrial Average falling 500 points due to concerns over inflation and rising interest rates. This marks the biggest single-day decline in over a month, with tech stocks taking the biggest hit.

2. The latest unemployment numbers show a decrease in jobless claims, with 350,000 new claims filed last week. This is down from the previous week’s total of 375,000, indicating a positive trend in the labor market despite ongoing challenges.

3. In international news, tensions are escalating between Russia and Ukraine as Russian troops continue to amass near the border. The United States and European Union have expressed concern over the situation, calling for de-escalation and diplomatic solutions to prevent further conflict.

4. A new study reveals that the COVID-19 vaccine has been shown to be highly effective in preventing severe illness and hospitalization. Data from the study shows that vaccinated individuals are significantly less likely to require hospitalization or intensive care compared to unvaccinated individuals.

5. In sports news, the NBA playoffs are in full swing with several exciting matchups taking place. The Los Angeles Lakers and Brooklyn Nets are currently leading their respective series, while underdogs like the Atlanta Hawks and Phoenix Suns are making waves with unexpected victories. 1. The stock market saw a significant increase today, with the S&P 500 reaching a new record high of 4,200 points. This surge was fueled by positive corporate earnings reports and optimism about the economic recovery.

2. In international news, tensions between Russia and Ukraine are escalating as Russian troops continue to mass near the Ukrainian border. The United States and European Union have expressed concern and called for de-escalation to prevent a potential conflict.

3. The CDC announced that fully vaccinated individuals no longer need to wear masks outdoors or indoors in most settings. This decision comes as a result of decreasing COVID-19 cases and increasing vaccination rates across the country.

4. The colonial pipeline cyberattack has caused a major disruption in the East Coast’s fuel supply, leading to long lines at gas stations and price increases. The FBI has attributed the attack to a criminal group known as DarkSide, who are demanding a ransom payment.

Read more at Yahoo Finance: Dow, S&P 500, Nasdaq rally for 3rd day as Fed rate cut hopes grow, Apple and Alphabet notch records