Fed Announces Rate Decision Today with 99.9% Chance of Quarter-Point Cut
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Nvidia on Deal Spree as CEO Announces Domestic Chip Production in Arizona - Nvidia takes $1 billion stake in Nokia (shares up 22%), partners with Eli Lilly on AI drug discovery supercomputer, works with Lucid on self-driving; announces Blackwell GPU production now in Arizona instead of Taiwan; shares jump 5% toward $5 trillion valuation
Fed Announces Rate Decision Today with 99.9% Chance of Quarter-Point Cut - Federal Reserve expected to cut rates at 2 p.m. ET today with virtual certainty; investors watching for dissent and Powell's press conference clues on future policy amid data concerns from government shutdown
OpenAI Completes Restructuring with Microsoft Holding $135 Billion Stake - OpenAI Foundation now holds controlling $130 billion stake in for-profit OpenAI Group PBC; Microsoft confirmed to hold $135 billion investment (27% stake); Microsoft, Alphabet, and Meta report earnings after bell today
Government Shutdown Hits One Month as States Sue Over Food Stamp Benefits - Shutdown now second-longest in history; 24+ states sue Trump administration over SNAP benefits ending this weekend; federal judge extends ban on firing workers; air traffic controllers picking up second jobs while working without pay
Boeing Returns to Positive Cash Flow But Takes $4.9 Billion Charge on 777X Delays - Boeing reports first positive cash flow since 2023 but logs $4.9 billion charge for 777X delays; on track for most deliveries since 2018; CEO says "positive signs" but "still more work to do"
Mortgage Rates Hit One-Year Low at 6.3% as Refinancing Surges - 30-year mortgage rate drops to 6.3%, lowest in a year; refinancing hits highest level since mid-September; home-purchase applications rise for first time in five weeks as lower rates draw buyers back to market
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Amazon is Replacing a Record Number Of Employees to A.I.
Today on the show:
Amazon Announces Biggest Layoff in Company History with 14,000 Cuts - Amazon laying off 14,000 workers (4% of corporate/tech workforce) as CEO Andy Jassy embraces AI to shrink workforce
U.S. Debt Hits $38 Trillion in Fastest Accumulation Outside Pandemic - U.S. added $1 trillion in debt in less than two months; government likely to choose inflation option, eroding purchasing power
Ground Coffee Prices Hit $9.14 as Tariffs and Weather Push Costs 41% Higher - Average pound of ground coffee now $9.14, up 41% year-over-year due to tariffs and poor weather
Inherited IRA Tax Change for 2025 Could Trigger 25% Penalty - Starting 2025, certain heirs must take required minimum distributions or face up to 25% IRS penalty
Social Security Benefits to Increase 2.8% in 2026, Adding About $56 Monthly - 75 million beneficiaries will see 2.8% COLA increase starting January, though Medicare premium hikes may offset gains
Federal Reserve Expected to Cut Interest Rates Again This Week - 92% of economists expect quarter-point cut, with potential for two more cuts by January, bringing rate to 3.2% by end of 2026
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Is the S&P 500 Overweighted? (And Should You Actually Care?)
Today we're going to do a deep dive on Is the S&P 500 Overweighted? (And Should You Actually Care?).
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Gold Crashes 6% in 12-Year Record Drop (And Nvidia Backs $350 Million Battery Bet)
Southwest Airlines surprised Wall Street with a profit and revenue beat but still saw shares dip, while American Airlines rallied nearly 4% after topping expectations and offering a stronger outlook. Grab is teaming up with May Mobility to launch self-driving taxis in Southeast Asia, expanding the global robotaxi race. Gold tumbled 6% in its worst single-day drop in 12 years as optimism over trade talks and the end of the U.S. government shutdown erased safe-haven demand. Nvidia participated in a $350 million round for Redwood Materials, a battery recycling startup founded by Tesla cofounder J.B. Straubel, as tech giants pour money into energy storage solutions for AI data centers. Meta is trimming 600 AI roles while tech leaders call for a pause on “superintelligence” research. Starbucks union members plan to vote on strike authorization amid ongoing labor disputes. Mortgage refinance applications jumped 81% year-over-year as rates dipped to a one-month low. And oil prices surged after new U.S. sanctions targeted Russia’s biggest energy companies.
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Amazon to Replace 600,000 Workers with Robots (And Tesla Kicks Off Mag 7 Earnings)
Warner Bros. Discovery stock soared 11% after the company said it’s open to takeover offers, signaling a potential end to its independence in a rapidly consolidating media industry. Shoppers are showing “discount burnout” as constant sales lose their appeal, even with fashion prices rising into the holidays. Gold prices crashed 6% in their worst drop in over a decade as optimism around a U.S.–China trade deal unwound the safe-haven trade. Tesla reports earnings today, setting the tone for the Mag 7 tech giants as investors look for updates on AI, robotaxis, and low-cost EVs. Amazon announced plans to replace 600,000 American workers with robots, sparking fresh debates about automation and the future of work. The U.S. and Canada are nearing a new trade deal covering steel, aluminum, and energy after months of tariff disputes. Mattel shares dropped 6% after weak Barbie sales dragged down earnings. And Beyond Meat has become the latest meme stock craze—soaring over 1,200% as retail traders pile in despite shaky fundamentals.
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Money moves fast—stay ahead of it. Welcome to The Business Show, where we break down the biggest financial stories, market trends, and business shake-ups in a way that’s fast, fun, and easy to understand. Hosted by Andrew Giancola, this podcast cuts through the noise to bring you the most important updates on stocks, crypto, major business deals, economic trends, and the future of money—without the jargon.
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